Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1905-01-18

sense of justice is a tax based upon
the cash value of the policies-that Is
the equity of the policies in the assets
OF the company. This includes both
reserve and surplus. 1t would be equiv
alent to taxing the policies on their in
yestment value in the hands of the
owner. But, to make the admins
tration of the tax economical and ef-
fective, it SHOULD be levied upon the
company.
To avoid double taxation, the value
OF real estate and United States bonds
owned by the company should be de-
Quoted from the gross assets before
making the le for real estate is
usually taxed locally and United
States bonds arS exempt All policy
holders in the state would then be
taxed on the same basis and there
"ould be no incentive for the insuring
pun &c to patronize foreign companies
in Preference to home companies. The
tax would be more uniform and more
productive than at present. AT the
average tax rate. in the state the tax
on life insurance values would produce
about 100000 instead of s27S 900 as
under the present law.
Mort Je Taxation.
4 The mortgage 4-ation law. so call
ed, Of 1903 has proved a disappoint
iment. While no statistics can be
produced at present to show its exact
effect, it is d matter of common knowl-
edge that the rate of interest in Wis
consin upon mortgages, as Well as up
on other credits, has not been re-
/ duced since it's enactment
II is my opinion that in the present
situation in this state, mortgages
should be restored to the taxable
class of property by tae re-enactment
of the law as it stood before 1903, I'M
til such time as the legislature can
pass law for the taxation of incomes
to take the place not only of the tax
alton of credits, but also of the taxa
:! ton of most if not all, other personal
property. The owners of credits should
not be made favored class by reliev-
ing them from the first duties of cit
izenship. Such a course is entirely
undemocratic in letter and in spirit,
offers plausible justification for
evasion of taxes by others, who suffer
by the unjust discrimination.
1 l recommend the passage of an
amendment to the constitution author
izing the legislature to enact laws
providing for "a graduated income
tax"
Railroad Taxation.
The tax commission, acting as
board of assessment under the new
ad valorem law for the taxation of
railroads, gave full hearings to the
representatives of the companies with
respect to all matters pertaining to the
execution of the law. After counsel
for the railroads had been fully heard,
/ he commission proce .ded with its
important work. Th> commission
caused TO be made an appraisal of all
the physical property of each railroad
company of the state, This involved
considerable expense, which seemed
necessary, however. in order to lay
foundation for present and future
work. The assessment was complet-
ed and the tax roll filed with ne state
treasurer, as prescribed by law, on the
18th day of October, 1904, and each
company was Immediately notified of
the amount of taxes assessed against
lit.
Upon the ninth inst, suits were be-
gun by all of the principal railroads of
Wisconsin to prevent the collection of
any tax under the assessment.
And so at the end of all these years
of delay these corporations will seek
still further to defeat the ends of
| justice and defy the will of the peo-
pie in a state where they collect an
ngalIy transportation charges amount
ing, in round numbers, to $50,000,-
10000. Millions of dollars have been
wrongfully withheld from their annual
reports. How far reaching this fraud
upon the state may ultimately prove
to be cannot now be determined. 1t
has been found to extend as far back
as the investigation mas progressed.
Control of Railway Services and Rates.
The power of the railroads in Iegis-
lation has been, perhaps, as manifest
/ in Wisconsin as any other state in the
union. Moving with the other states
/ of the Old Northwest in the early 70s
/ for the control OF railway rates,
strong law was enacted here, and,
1 likewise, in t1e adjoining states of
/ Illinois, Iowa, and Minnesota.
The breaking away of Wisconsin
/ from railroad control VS. temporary.
! In 1876 the Wisconsin Ii vas repeal
ed With the restore ION TO power of
the railways in Wisconsin, the abuses
were resumed, and have continued
I without interruption.
! Possessing experimenting power, it
{ becomes the duty of the state to ex-
| ercIse it broadly for the protection of
/ the interest of all it's people, not only
/ from unreasonable charges and extor.
| ton but tloT other abuses equally far
reaching in consequences and no less
! unjust. Tae industrial and commercial
/ life of every CON munity, the comfort
/ of every home, is vitality dependent
upon facilities OF transportation, and
/ wherever the state has given railway
/ corporation chartered rights to acquire
/ land. establish and operate a road,
there rests an Oh, t~atioL on the state,