Corvallis gazette. [volume] (Corvallis, Benton County, Or.) 1900-1909, 1906-05-15
DR.. WITHYcoMBEs ADDRESS.
His Views as Expressed at the
Big Republican Rally.
CONTINUED from last issue.)

is the question of taxation. There is a
that the burdens of taxation in this
state have in the past been ineq-
uitably distributed. The support of the
government in all its various branches
has fallen for the most part on owners
of real estate.
I believe that the policy of our laws
should be to increase the revenue of the
state from indirect taxation and the tax.
alton of intangible properties, to the end
that real estate ma, ultimately be free
from taxation for state purposes. This
result has been reached in some of the
commonwea1ths of the Union and the
time will come when similar result
can be reached Ia Oregon.
I believe in the taxation of franchises.
A franchise is property in just as real
sense as farm. There are franchises in
the state OF Oregon which are more pro-
ductive than any hundred farms.
know of no reason why farm should be
taxed and a franchise should escape
taxation am opposed to the granting OF
perpetual franchises and favor general
law depriviug municipalities of the
power to grant franchises for more than
a stated period of years.
There is widespread belief that fran
chises in the past have been secured by
debauching City Councils and paying to
the CRATER compensation which right
fully belongs to the people. [ believe
that with every franchise there should
be condition requiring the owner of the
franchise to pay to the public pro-
portionate part of the earnings
from year to year, by way of COM
pexsation for the special privileges
granted.
When franchise has been unfairly
secured from the people or where it has
been improvidently granted the people
should repossess themselves of such fran
chises by the revocation thereof when
possible or by the exercise of eminent
domain, if necessary.
In this connection I will say that I
believe every perpetual franchise is inn
providently granted for the reasons that
the conditions of today are not conditions
Of tomorrow. Provisions which protect
the iuterests of the people of TO-DAY may
be totally inadequate few years hence
Public utilities with but few exceptions,
I believe, are best administered by pri-
vate interest rather than by public ser
wants, for in the latter case self interest,
the greatest of incentives, is lacking and
thriftiness aud unbusinesslike methods
will surely sooner or later prevail.
A public utility is public asset and
the interest of the public therein should
be safe guarded by adequate laws. I
believe that the people should reserve
control over all public utility franchises
to the extent necessary to issue the
greatst efficiency of the public service at
the least expense, subject only to the
right OF capital to be justly compensated
for it's investment. [ must not be taken,
however, to have a lack of regard for
vested interests; our laws should and
wisely do protect capital in its invest
ment.
The vast resources of our state call for
the investment OF capital for their de-
velopment. 1t is necessary that our laws
should be conceived in spirit OF fairness
and shoul hold out to capital the assur-
ance that IS just and honest claims will
be safeguarded. 1t is certainly possible
to 60 frame our laws that they will guard
every interest of the people and at the
same time by their justice and moder-
alton lend no sense of insecurity to the
capital which we invite to aid in the up
building of our state.
In all OF these matters, how ever, eau
tion and good judgement are necessary.
It is easy by a wildcat system OF legisla-
tion to alarm the cautious investor. Un.
wise and inflammatory laws enacted in
Oregon at the present time would dc
much to check the investment of foreign
capital and the starting of new enter
prises which now promises additional
employment to labor and additional
prosperity to the people. A wise system
or taxation is never conceived in passion
of fathered by prejudice. 1t IS the first
duty of government to be just to al
persons. I heartily concur in the SEN
time mt of the President that every man
is entitled to square deal. If L am the
dealer he shall have it.
There is a demand for legislation for
the supervision of private banks. The
ord mary depositor has not the means OF
investigating the solvency of private
ban king Institutions, and it is wise thai
laws should be pas sed providing for .
system of reports from state and private
hanks, akin to the informah on now ex-
acted by the Federal Gov ernment from
National banks. I am opposed to the