The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1907-05-09

under the system as without such
law The demand and the richness Of
the heId OF operation is the induce
ment for the promotion of the public
uulty corporation, and they do not
come from philanthrOpic motives
II the field Will justify them in enter
ing, certainly no man can believe that
the small tax imposed upon the fran
chlSe Will keep them away We want
railroads, but We want farmers, We
want manufacturers and more citi-
zens IN every avenueo of business How
can We best get all of these elements
70 develop our state? BY announcin@
TO the world equal rights 10 all and
special privileges TO none or that We
disseminated in favor of wealth as
against the man of ordinary means.
against the great masses OF Our Dopu-
latlOn who are not so fortunate as to
own stocks in the public service cor
pOratiOn-
Terrible Results Predicted.
The corporations tell YOU about
the terrible results that Will como
from making the railroads pay taxes
uhder the same system as Is imposed
upon the other property owners Of
our state, l say justice will never
WoTk haTmfUlly- But the high taxes
imposed upon the man who owns q
farm, the business enterprise and uD-
On the business mans home when it
comes as result of the discrimina-
/ ton IN favor Of the large corporate in
I terest, viii certainly impede the de
VeIopment and prosperity Of our cities
our counties and our great state more
than law which deals Justice TO all.
Let Florida announce that the rights
of the humbIest citizen IS rs sacred
and as high rs that Of the mighty f.
nanclaI magnate. and that the wealthy
and poor get equal justice and there
VIII be even greater era Of DroSDor-
ltY and development than now per-
vades our beloved state. There are
TWO taxing powers in our state. one
the government. the other the rail
roads. When it is the states time 10
impose tax. the railroad property is
only worth about 100000 mile for
taxation purposes. When il is the
railroads time to levy the tax trateS)
then the same property IS worth from
S2S,000.0O to SIS 10000 per mile. and
this public service corporation is I'M
der the law of our country allowed to
fix such rates as will permit them to
make a reasonable interest on this
amount upon which they fix rates.
Quite a part of the difference between
the 100000 per mile and the SOS
10000 to s4S.000G.00 per mile. is made
up of what we term franchise 1t has
value for income, for bond issuing
purposes and for rate making pur-
poses, then why not for taxati0n -pUr-
poses. The surrounding conditions of
your home. your farm, your business
house, the use you make of it. and
its income go to form and make its
market value. its market value IS the
basis for taxation purposes, but this
is not the law for the assessment OF
railroad properties. The element of
use tho element of the surroundings
and conditions which add TO or de-
tract from the value Of yOur homo o.
store house and the element of in
come. the very foundation upon which
the market value is reached are not
to be considered when the railroad
property is assessed, hut it is the
mere cost of reproducing or the
actual value of the physical property.
Wants No Discrimination.
Now why this difference in the
system of taxing the public service
corporation and the mans farm, his
'hOme, his business property. Nj.
President, / invite my fellow senator
who opposes the franchise tax 10 eX-
plain if he can why the differen,e,
why the discrimination. Is our taxa
ton scheme just, is it fair. | say it
is not until it bears equally upon al
The United States supreme court
says what a mOckCry of substantial
justice it is to adjudge property for
taxation purposes at only about one
fourth its worth for the purpose of in
come and sale. that the franchise is
property, that it has value, that it
should be. taxed the same as the Ply
steal or tangible property.
Mr.. President, | plead for no lis
elimination. no favOritism for my
class of property owners. or for any
class of persons paying d license or
privilege tax, but merely ask for a
sustem that will more equally dis'Ti-
butte the tax burden"
By far the most important process