The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-01-12

d . Y
The Auditor estimates the total re-
ceipts for the State fund for the cur.
rent biennial period at s2.s22.s and
the net ordinary expenses. including
$4,000 for the Legislature. at 81, 4OI. :
22o. The estimate of receipts is based
on valuation OF $4,000 1000, and a
State levy OF cents for each of the
two years. License taxes are estimat.
ed at $1.OO2.2O0, twe-sevenths of
which go to the general school fund.
These estimates are conservative; but
the estimate OF the net ordinary ex.
penses is too low. fear. For instance.
the Spencer Asylum will need $4,000
a year for current expenses. Instead
OF 100000. OF course. nothing is in
cluded by the Auditor for new build.
ings, repairs. additions, furniture and
the like. AS will be seen by reference
to figures above. calculated that the
net ordinary expenses. without includ-
ing the cost OF the Legislature, were
81, 5i5 500 for the last biennial period.
There are authorized deficiencies, to
be provided for AT the Spencer Asylum
and the Miners Hospital at WEIGH. be-
sides attorneys fees In the railroad
suits, the Virginia debt suit, the BraX-
ton county salt. to say nothing of the
Increased compensation asked for for
some officers and employees. and other
Items that will turn up. Elsewhere
in this message is suggested sources
of additional revenue and the desirable
ity OF taking OF the State taxes. /
cannot now or here discuss this matter
with the actual figures before me. for
the statistical tables of neither the
Auditors nor the State Tax Commits.
sioner's report are before me, as these
parts of their reports. so essential to
such discussion. are yet in the print
ers' hands and not before me.
Income Tax.
There has been a revival OF the dis
cussion of the propriety Of an income
tax. It seems to be self-evident that
the principle of the income tax is the
just one as regards ordinary taxation.
and the only Just one. | hope the day
is not far distant when we shall have
no other form OF taxation In this
State except certain excise and license
taxes. Inc new OASIS Oh 'aiue' 'ha'
is. the true and actual or market val.
ne. involves the principle Of the in
come TAX. Inc market 'aiue vi prop
erty, II not whoily' at least Is very
largely determined oy 'ne earning ca
pacitS Oh the property UT perhaps 1t
Is more accurate 10 say what 'ne prop
erty VIII earn. In tne Guy OIL |naries,
ton on certain street an acre Oh iahd
Is WORTH say Sio'ooo' III the country
Ten mites from lhe CITY an acre vi
ground. winch Is lar better LOT the
purpose lot which grounu was useu IN
the primitive condition OF society," Is
worth sloo. what Is the cause Oh 'his
earning power OF the acre IN the CIT!
OF Charleston IS enormously greater
than the earning power Oh Ihe acre III
TIC S''S Va S"a' 'eS'oh 20
greater than the earning power Vi 'ne
acre IN 'he country ! 'n'uA' mo pm
cipfe can De carried OUT inoe"h''e's'
ana apphed 10 all iornis vi eornn'e'-
ciai OF marFet 'a'de'
The Assessment Of Railroad Property
Etc.
In ascerSining the value Of the
property Of railroad corporations, OF
express companies. OF telegraph and
telephone lines. and Of other property
assessable by 1t, the Board of Public
Works largely applied this principle
OF the earning capacity Of the prop
erty. In my Judgment here Is no
other true method Of arriving at the
value OF such property. This subject
is very ably discussed int the Bulletin
No. 81. issued by the Bureau of labor
| In collaboration with the Census Blu