Los Angeles herald., 1909-09-12
Our Defense Against the Board OF
Equalization Outrage

county OF San considered the infamous and nd
No citizen Los Angeles object the real Of this
population principal factor giving value The real estate of
community and there is reasonable doubt that the city OF Los
Angeles has inhabitants within its corporate limits as has
the Francisco In will be matter of grave dis
appointment the next United States does not show dis
nc advantage in population city the community which
until lately has been regarded the principal center OF population
on the Pacific coast.
that three elements Of wealth the city and county OF San Fran
Of Los Angeles We refer to the money invested IN banking
manufacturing and in mercantile pursuits
uy the Pacific has been occupied and developed by the
American people the major part of the wealth produced upon that
by mines manufacturing and mercantile pursuits has cen
Until within the past decade practically all Of the mining wealth
produced by California and Nevada has flowed into San Francisco
past twenty years. the natural harbor adj
vantages San Francisco have made that city the center man
featuring and merchandising upon this coast
Therefore, in the accumulation OF wealth. IN the domains OF
banking manufacturing merchandising the city of San Fran
still enormously ahead of other city the Pacific coast
the last of the Bank
er Register That publication which universally accepted as
By the world shows that the bank ad
$1o3oSoo At the date the bank resources Of
the city of San Francisco including capital surplus and deposits
In manufacturing and merchandising the disparity
represented would undoubtedly be very much greater
of For ustraon the city of Los Angeles
has nothing which in wealth represented with the
Union Iron Works OF that city its sugar rehnerles Its great uq
br companies and of its great mercantile institutions In
Francisco for the that that city the center
of the lumber business for the whole Pacific coast
tries upon the Pacific The the
gives as his opinion that the invested in those two lines
business San Francisco would aggregate probably times
the invested in like lines of business in the city of Los
Angeles.
The figures above quoted show banking the
city Of San Francisco holds than $2000ooo in of the
city of Los Angeles
manufacturing mercantile in San Francisco
least the superiority of capital compared with Los
Angeles, does its banking interests
So the lines Of banking manufacturing and
the capital held San Francisco which should be
Notwithstanding this the state board of equalization has found
the invested wealth. subject taxation the city and county of
Angeles exceeds that in the city and county OF San Francisco
by nearly $5oOOO,Ooo
course figures above given would have effect with
of equalization the majority of that body were
by honest desire to arrive at just and equitable de-
of the majority of the board evidently based de
sire arbitrarily impose an unjust share OF the burdens OF state
taxation upon the southern counties of the state
The Herald DESIRES however the gentlemen who
mtted this well their constituents who will benefit by
it, their action will probably prove boomerang of very
the people OF the northern of the state
by this outrage and injustice
community This reputation abroad
established fully by the assessed valuation placed the
property community than by all other evidences together
great investors of the world considering
placing of their money upon the Pacific they will have
difficulty deciding that the city and of Los Angeles
resent the greatest wealth upon that
the safest place for the their
will appeal with peculiar strength to the huge
companies well the bankers of the and of
Europe and of foreign capital
city Of San Francisco by the meant zeal of its woudbe
board equaaon has been deprived OF its greatest
attraction Tor foreign capital
Furthermore estimate of wealth by the board of
equalization which will the world will add enormously to
of and county of Los Angeles with the world
placing bond issues for public improvements Here
will be question that bonds offered by the city
county Angeles will be taken by the markets of the world
grediy than will those of the city
and of San Francisco
will end here The action of the board
equalization served notice upon all the people of Southern
the determination of the Southern PacfRepubcan
machine of which the majority of this board the sub
exploit Southern California every possible
The minds of people
California that they be exploited for the benefit
Pacific Republican political machine and the support
machine northern the will be felt
election when to voting certain issues of
which northern neghbors and especially the city
Francisco enormously interested The city of San Fran
which is the prime beneficiary the injustice perperaed
California counties by the board
equalization vtay interested in the by the state of Cali
$0000o0o of bonds for the improvement of San Fran
While the burden of these bonds theoretically
by the income of that harbo yet must not be forgotten
based the credit of the legally
encunbrance upon all the taxable values of the