Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1907-01-12

4 s"-N
before. The state levy was redscea
from S5 cents to IL cents. Thers
have been savings in several Ga
stances. one OF the most notmhz@
being that made In conveying Goa
victs from the counties to the pemi-
Tertiary. This cost in the last prsA
vious biennial period was $50, e0o.
The cost In the biennial period fwse
closed vas less than $1,000 Another
saving Is that In criminal charess-
The new laws have put an end to she
unlawful extravagant creation Of
debts by local governing bodies For
other good effects OF these laws I
refer YOU to the fine statement by
Mr. Dillon In his able report
There ought TO be no politics In the
matter OF state taxation II system
is good. everybody is benefited; IL it
Is bad, everybody is hurt: the benefit
or the wrong Is not limited TO any
particular class All that has been
accomplished has been accomplished
practically In one year. because these
laws were not IN full force until 1906.
the year 1905 being y transltory per
Tod, part Of the old laws being Ia
force and part of the new laws being
in force Now. TO perfect aud 10
strengthen these laws and to make
taxation rs Just as Il is possible for
human ingenuity 10 make Il We want
and need the help OF every person
and interest The demands upon the
state are great; We are young and
growing fast; we must pay as we go
As W. cannot create debt. our in
stitutipns need money for additions.
for Increased expenses. and new In
stitutions are needed, we are away
down thirtyfourth on the list of
states as regards our school matters.
standing that takes a great deal OF
pride of dr boast about the amount
OF coal we mine We have almost
no roads. In this matter every citf-~
zen should be broad. liberal and pa
to contribute It's fun share. BUT who
ever helps, or whoever opposes, we
must 80 ON in the spirit of that just
and patient man, Abraham Lincoln.
with malice toward none. with Jus.
tice to all. but with frmness In the.
right ~ God gives rs 20 see the
right conscious that no greater eco
monte misfortune can befall people
than a bad system OF taxation. and
no greater economic benefit can
bless them than wise and lust syss
TEN 90 taxation.
Taxation Of Intangible Property.
reduction in the rates of levy was
necessary in order 10 get on the books
intangible property, consisting for the
most part Of money, bonds, notes.
and the like There Is only one basis
for the assessment Of this property
under orr advaiorem system OF taxa.
ton. unless special rate is prescrib-
ed for X. and that Is, It's actual value
dollar has but one value. and usu-
ailq a note or bond has but one value,
and that IS rs face value Under the
old laws and methods this property
has very largely escaped taxation for
two reasons. In the first place, exces.
sive taxation, because the rate was SO
high that the owners Of this property
felt that they could not afford to pay
taxes on IT, II earned six per cent.
a year, and the rate OF taxation In
many places was nearly one half. and
IN most places one.third OF that
amount Think OF the fact that If
this property had been taxed at IT'S
proper value, The government would
have taken one-third or onehaf Of the
total income Of II In taxation The
second reason why this property was
not on the books was because It would
be uniustiy taxed As before stated.
# It went on the books at all. II went
on at its full value. while other prop
crv and particularly undeveioped
real estate. was on the books at any.
where from five per cent upward Of
It's value.
No government, whether Repub-
he or a despotism. has ever been able
to enforce am unjust law as regards
mems property
The increase Ia the assessed value
of this intangible property under the
new laa hess moi been as great as
some persons expected; but II has
been fag up 10 nay sxbectations be
cause / did rot expect f TO get on 4
the books until the rate was feduce's1
and the owners Of this kind of r'e
ery believed that the rate woglaohoit
down The rate Is now doTeT keep
estimated that the ayeZs0n. lt =