The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1907-05-09
TRAMMELL'S SPEECH
ON THE FRANCHISE TAX
Eloquent and Logical Addr Delivered in the F<ida
Senate in Support of the Important
. Measure.

Co., VS.. Ohio, We are aware of
nothing peculiar to a franchise which
can class it higher, or render it
more sacred than other property;
franchise is property and nothing
more"
Strong Plea for Justice.
''Is there any justice! Is there any
right in discriminating in favor OF
the wealthy corporations, as against
the tho usands of individual tax pay
ers of the state Is it right in the light
OF reason and justice to exempt their
valuable franchises from taxation?
According to the opinion of the Unit
ed States supreme court it is not. IN
the Adams Express Co, case the court
said, Substantial right demands that
whatever be the real value of any
property, that value may be accepted
by the state for purpose Of taxation,
and this ought not to be evaded by
any mere confusion of words Speak
ing of taxing the franchise the court
said, Upon what theory of substan-
tial right can it be adjudged that the
value of this tangible property (the
franchise) must be excluded from the
tax list, and the only property placed
thereon be the separate pieces of tan
gible property Mr.. President, this
is not my language but the language
of the greatest court throughout the
civilized world. Along in the same
opinion the court says: What a mock
cry of Substantial justice it would be
for a corporation. whose property is
worth to its stockholders for the pur-
poses of income and sale S16.SOO, 900
to be adjudged liable for taxation up
on only one fourth that amount (the
physical property The value which
property bears in the market, the
amount for which its stock can be
bought and sold, is the real value.
Business men do not pay cash for
moonshine and dreamland They buy
and pay for that which is of value. in
its power to produce or for purposes
of sale
Strong and FrocefuI Language.
Mr. President, rather strong and
forceful language favorable to
franchise tax, and it is not my lam
guage. the language of one that the
corporation papers of the state would
charge with demagOguery, but this is
what the highest tribunal within our
land says upon this great and vital
question to the people of our state and
to the American people. l am will
ing to be in a class with these emf
nent juriSts and great Americans,
though | may be denounced as a dem
agogue by the railroads and the cor
pOratiOn papers of our state. l be-
heve IL was in the discussion of tho
income tax bill before congress that
when the charge of demagoguery was
urged against those who favored the
bill. touching upon this charge. that
great American statesman, William J.
Bryan, said: as I understand the term
demagogue as used by the corpora
tionS and those who do their biddings.
the demagogue' is the man whose
heart beats in unison with that of six
ty million American freemen while
the man who ever has listening
ear for the calls and demands of the
corporations of our country. and who
does their biddings, is with them,
OF wide fame, as patriot; a great
statesman
An Honor to be Denounced.
Again Mr.. President, say that if
Mr. BTyan'S version of what the cor
pOratiOn interest of our great COM
monwealth denOunces as dema-
gOgue, as 4 patriot, is correct. then I
deem it an honor to he denounced by
the railroads, their paid attorneys and
their newspapers. as demagOgUp
They tell you that it would be an in
justice to impose a franchise tax up
on the public service corporation and
that the people of Florida do not
want such law. l tell you MI Pres
ident. that on one side We have the
corporations. their hired lawyers.
few honest, sincere sympathizing citi-
zens who stand with them largely be
cause they have not heard but one
cid Of h
with the franchise bill. while upon
the other side. the side | am endeav-
Oring 10 present. forty thousand good
and tried citizens of our fair Florida,
appeal to us for an equalization of the
tax burden thrOugh the medium of q