The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-07-01

Inre TINS year destroyed the largest
ldormitory building, together with the
Laundry. cold storage plant and much
FURNITURE. We expended for improve
,ments and maintenance during the first
three years of this administration.
81, The preceding adminstra-
itlon for a like period spent only $780,
IoG0.OO.
The College of Agriculture and Ne
Ichanic Arts has given instruction dur
Ing the past four years to 1,s92 STU
dents. Vii for the preceding four
years there were only 1,o52. 1t is now
under the control of the Board of Agrf-
iculture and the number of students
studying agriculture has increased from
IA to 40. A disastrous fire two years
ago entailed a heavy outlay 70 rebuild
land equip the college for it's great work.
We have spent at this college for nee.
Iessary buildings and the support of IL
siis,o4o.oo, whereas our predecessors
lonly spent $a5. 100000.
To these things has cost much money
and to raise money in North Carolina
by taxation has ever been a matter liza.
Die to cause offense. None OF us pays
taxes cheerfully or graciously. Real
Elz1ng this, 1t became a problem worthy
Iof the deepest consideration, how to
raise the necessary funds with which to
conduct these great enterprises which
the people had set on foot and which
Iwere essential to the growth and upljft
tof the state. To raise the tax rate was
lout of the question, because added to
the tax rate levied in many of the
towns and cities, the tax would become
l~unpearaDie. 1t was manifest therefore
lthat provision would have to be made
Through some other source.
The most casual examination of the
Auditors report, taken in connection
~ n q Cnnn Il 11o
property Of the state, disclosed at once
that much property was grossly I'M
l~dervalued. The legislature therefore
lpassed judicious acts for the assess.
ment OF property in the state and levied
certain special taxes, which taken to-
lgether, are now supplying abundant
revenue for every reasonable purpose
which the state may have in view.
1t is interesting to note that the rail-
IroadS of the state are today paying
taxes on an assessment more than twice
las large as when / was inaugurated as
iGovernor. the assessment for 1898 be-
ling $50, GIG, 868 and for 1903 being $70,-
62S.523. 1t is true that an assessment
had been made in 1899 by which the
railroads were put on the tax list at
$43, 791 ,602, but they had secured through
1.-THE Circuit court of the United States
Ian injunction restraining the collection
iof taxes in excess of the assessment OF
i1S9S and this suit was still pending when
I became Governor and was settled by
me in such fashion hat the railroads
paid until last year on the basis of
$43, III. COZ. 90.
The tax on banks has likewise been
Increased. as has also thataof corpora
ltions generally, including the organi-
Ization tax on corporations which is now
bringing in a considerable revenue,
amounting last e to $17,695. Taken
altogether. the assessment has increased
from 1926, 663, 337.00 to $433 1876, 224. 90,
showing a gain of $136, 522, 887.0 The
lgreatest part Of his increase came from
railroads, banks n other corporations.
There was an increase of course in VAL
luable own property and in improved
farms. The great body of the people
Iof North Carolina. a very large major
iity Of them, while securing the umer
IOuS benefits which / have indicated, are
|bearing no additional burden, while the
burdens are being put upon property
and interests hat are able to bear
them without injury. To show that no
injustice has been done to any interest,
lit may be we'll to observe that while
railroads are paying taxes on twice as
much property as they were in January
l1901, their gross earnings at the time
THAT the former assessment was made
were only $11, 543 SIG and their income
from operations only -$4,147, 96S, while
jlast year their gross earnings amounted
Ito $1S.610.S15 and their income from
Operations amounted to $6,473, S38. It
taxes they are now making much more
money than when the assessment was
Hess than half it is now.
The same is true Of banks. Bank
stock was assessed in this
state in 1899 at $3.52O,O4o and in
1903 at 5000, 5S7, but in the meantime
1.-THE total of the banks had in
lcreased from s27, 1885, S7 to $50, 962. 271, SO
THAT within the period named the banks
lhare doubled in value. While the as
sessment Of this property has been
large and has greatly Increased the
revenue. the assessment of real estate
Ihas also increased. In most instances
this is justified by the greatly increased
lactual value of real estate. Personal
Property likewise has been increased,
but certainly the Democratic party is
not responsible for this, since each in
ldividual gives in his own personal prop
lerty under his own oath, The fact that
personal Property has increased in val
Tue unde the oath of the citizen, nearly
las much as the real estate has been
Increased und the assessment of the
Officers is conclusive proof of the pros
'perity of the state and shows that the
assessments have been in the main cor
rect
The assessment of real estate in this
Estate is no greater than it is in South
lCarolina and Virginia, indeed it is
hardly so much. / nave in my posses
Ision a letter from Col. E F. MacRae
lof Maxton, N. c., who owns n in
both this state and in South Carolina,
lin which he says, There is very little
difference in the valuation of property
ION the line between North Carolina
more than in North Carolina" In a
letter from Col. JOIN 3 Cunningham
he says that the Assessment in this
Estate and Virginia is about the same"
The tax rate in Virginia is much high
Ter. In a letter from w. e. Crosland
lof Richmond county, he says that the
Valuation in this state n South