Troy weekly news. (Troy, Idaho) 1897-1933, 1905-05-19
THE NET PRODUCT TAX.

The practical working Of the law
passed by the Idaho Legislature in 1901,
assessing and taxing the net product Of
mines OF the state, seems in every re-
spect satisfactory and just, and the
objections raised at the time by those
who opposed the measure are proved
to have been not well founded.
The law has been in operation for
three years. No one in this district
has questioned the honesty and cor
rectness OF the statements given in to
the assessor. In fact, every objection
brought forward has been set aside by
the actual working Of the law. In this
county the net output assessment
amounts this year to not less than half
the total assessment Of the county,
probably more than half. This is upon
the assumption that the total assessment
will reach 5000, 900. The net out
put is within few dollars Of $1,000,
900. And not a dollar Of this sum
will be on the delinquent list.
Shoshone county lost about million
dollars assessment by the annexation Of
south Shoshone to Nez Perez county.
1t gained practically that amount
over the year before in the item Of
assessment Of net profit. Wallace Press
We were surprised 10 find that the
Genesee News would publish, without
comment, the above article, thereby
endorsing it. Just think Of it. The
mines Of Shoshone county will pay
taxes on $3,000,000l OF course this
sounds big. But il doesn't prove that
the 1901 law, taxing these rich pro-
ducers on the net output basis is just
and equitable. Let us examine the
question and see how near satisfactory
and just" this assessment is.
We assume that justice requires that
all property bear an equal share Of the
tax burden. We assume that none will
contend that the very property that is
paying the biggest returns on the in
vertment should be specially exempt.
II this is true regarding the Occur
dAlene mines then the net output
assessment is not satisfactory and
just to the farmer, the merchant, the
laborer with his little home, or to any
other. class Of taxpayers in this whole
state. The Morning mine at Mullan
will sell Oh the open market today for
$3,000,000; the Hercules, at Burke,
is valued at $40, 000,000; the Federal, /
or Standard Oil mines are quoted at
$500, 900; the Bunker Hill and Sui
Ivan paid dividends last year of nearly
$1,000, 900 and is valued at probably
as much as the Hercules. And there
are others. From ten mines in 1904
in Shoshone county there was extracted
Sll,0l3,l78 worth Of metal, yet these
ten mines paid taxes on only S2,95O,
S07 Compared with the taxes paid
by farmers do you think it satisfactory
and just7" In Latah county farms
are assessed at from one-third to one
fourth their market value. The Morn
ing mine, reputed to be worth 5000,
600 paid taxes last year on S175, 100,
or about one-seventeenth Of its market
value. The Bunker Hill on basis OF
less than one-tenth its cash value, and
so on through the list. Yet these
mines are paying magnificent divinends
far more certain than those enjoyed by
the farmer, or the merchant. And the
law will never be satisfactory and
just until these immensely rich and
valuable properties meet their just and
equitable proportion Of the taxes, on an
equal basis with the farmer, the mer-
chant or the home owner. By no
course of reasoning can special exem-
ption be justified in behalf Of those so
amply able to pay. Yes, the net out
put basis is a fine thing-for the wealthy
mine owners.