New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1907-06-22
THE NEW YORK WORLD COMES OUT
FOR IHE SINGLE TAX
PRINCIPLE.

ne 'uUlNershl, profound, and
complete" ignorance of scientific
economy, aud equitable taxation
exhibited by the daily press of the
United States is being dispeIed.
The latest accretion to the ranks of
the economically wise, being the
great daily mentioned above. We
note an endorsement in the John
stown Daily Democrat, and the
Milwaukee Daily Press. So far as
we are aware this makes about the
eighth influential daily paper to
line up.
Many New Iberians will be in
terested in the news aud they will
be glad to have our assurance that
the leader Of the Liberal Party
in England, Sir Henry Campbell
Bannerman, as well AS Mr.. Win.
ston Churchile both recently re-
ported by the London Tribune as
having not only definately anuoun.
ced the taxation of unearned in.
cremeDt as policy, but as having
displayed 10 their utterauces, a
firm grasp of the principles, aud a
development of that sympathy
with their fellowmen, which such
aud understanding must bring
forth.
"The New York World, one Of
the worlds greatest newspapers,
declared the true doctrine as to
wealth aud Taxation, in an editorial
from which we quote as follows:
"a food of new schemes accom-
panies the annual January farce of
assessments. Every year at great
expense the tax commissioners
compile guess at the owners Of
personal property IN New York
city, and give public notice that
their assessments must be sworn
off or the tax will be collected
"The annual invitation to per.
jury ia repeated this year in the
usual farcical manner Last year
the tentative personal assessment
was $3, 492 ,0l5, 6S2. Nine-tentbs
of this was sworn off, and most OF
the other tenth was mistakenly as.
sessed aud is represented by reve
nue. bonds instead of cash.
The three men who own the pub
lie franchises of New York city do
not appear on the personal tax roll
at all. Thomas +. Ryan retains q
legal residence in Virginia; Mr..
Anthony N. Brady in Albany and
August Belmont out on Loug Is
land. james Stillman Is assessed
for 300, 900, all the Rockefellers
for less than SO, 900, 900 and J.
Pierpont Morgan for $400, 900,
Andrew Carnegie Is assessed at
&5 900, 900, although he owns $500,
600, 900 per cent Steel Trust
bonds, not to mention other per.
sona property.
ITO meet this iniquitous condi-
ton the special tax commission
has reported an elaborated system
OF remedies which for absurdity,
injustice aud ignorance of funds.
mental economic principles would
be hard to march at a cranks con.
veption. They propose an income
tax beginning with incomes of $500,
a tax on the gross earnings of pub
lie service corporations, tax on
saving bank deposits aud habita-
ton tax. :
1.-THE distinguished members of
This commission should be sent
back to school to learn primary eco
nom cs.
"There are two great classes of
wealth. One uealih created 6y the
community and The other wealth pro
iaced o. created By individual effort.
"WealtL created by the comma
lity has two fOrms--the value of
aud and the value of public fran
ihises. The value Of land depends
lpon the density of population aud
he eaining power OF the people
sho live there. lna sparsely Get
led community the value of land
$ low, In city the value of land
! high in almost geomertric ratio +
D the population. Ia like manner
With public franchises. The right
D supply gas or electricity or
or telephones Is
Ike laud--valuable in proportion
!, the density OF population.
"That other forms OF wealth .
hich Is produced by individual h
Dor is approximately OF the same
hue everywhere. The difference
the value OF a barrel of flour or
ham or q suit Of clothes or a
ousand bricks between one place
d another is merely the cost OF
snsporting them. But M acre
ground cannot be transported
,m any where else to Broadway
Wall street. aud street ear
,ncbise cannot be shipped like
tie Of chickens.
IN foliows from This distinction
i since taxation Is for The beneff
NE community its burden should
borne 5y the weaith .rhich the coz
nifty has COLLECTIVELY created; that
BY land tar and a franchise tar Y