The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1910-10-23

prices, artihcially created by tariff
protection.
Income Tax.
8. think that the sixteenth
amendment to the Constitution of the
United States should be ratified so
that the federal government may be
given the power to levy an income
tax. In the levying Of such a tax,
small incomes should be exempt, and
only the larger ones taxed. Such tax
Is the fairest, because it takes the
actual benefit received from labor or
property, and not labor or property
itself, which may be unproductive.
and because it subjects to the burdens
Of the government a large portion OF
wealth which now does not contrib
ute in anywise to such burdens. |
favor such tax for the reason that 1t
Is the fairest method Of taxation, and
because the revenue to be derived
from it will prevent the republican
party, and other believers in a high
tariff, from using the necessity for
raising money as an excuse for the
perpetuation of such tariff. II the
revenue were not needed for govern
ment purposes, or If the want OF
revenue did not furnish an excuse to
the republican party for the Cypress
ion Of the consumer by highly pro-
tective tariff duties, / would think
that the federal government should
not impose such tax, but that 1t
should leave to the states the use Of
income taxes to raise revenue for the
states uses. The tax is a direct tax
upon the citizens of the states, and
should be reserved for the purpose of
the stase, but for the fact that the
foregoing strong reasons exist for
requiring its use by the federal gov.
eminent.
Inheritance Tax.
4. For the same reasons, l am in
favor of a graduated inheritance tax,
while for like reasons I believe that
such tax should not be collected by
the Federal Government, except in
emergencies. but should be left to the
states. Such tax not only is fair
and just, but tends to prevent the
accumulation of dangerously swollen
fortunes, the return of them in part
through government to the channels OF
trade, and the lessening Of the burden
Of taxation upon persons Of smaller
means.
Regulation Of Interstate Railroads.
5. I am in favor Of the regulation
Of interstate railroads through the
interstate commerce commission and
for that purpose Of giving that com
| mission all of the powers, not judicial
necessary for that regulation. TIE
apparently unavoidable conflicts be
tween the railroads and their patrons
necessitates a strong, but conservative
tive body to determine and enforce
the rights between them. This body
the interstate commerce commission
should have broad and liberal powers
but we'll defined, in order that theil
acts may be dictated by law, and MOI
| by caprice nor discrimination. Such
powers should embrace the right tt
determine the reasonableness of in
terstate rates, passenger and freight
but subject to a constitutional RICH
to resort to the courts to prevent {
confiscation of property by the fix
ing Of unreasonably low rates. The
people have the right to the best ant
cheapest service from their servants
the railroads, compatible with tn,
right of the railroads to earn fai,
return on the actual value of thei
property involved in such service.
greater rate than this would violate
the rights Of the public, and Jesse
rate would violate the rights of tn.
railroads, and by unduly lessenins
their incomes, prevent them from Civ
ing good service to the people. ant
paying good wages to their employees
I believe that either by direct legis
lation or through the interstate
commerce comm ission, there shoult
be the most effective regulation o
railroads, in the matter Of construc
ton and operation, so that the live
and limbs Of employees and passenger
may be safeguarded as much as pos
sible.
Over-capitaiizaticn Of Corporations.
! s. am in favor Of the enactmen
Of such laws as may be within tn
power Of the federal government t
prevent the over-capitalization Of pub
lie service corporations, so that tn
public may not be made to pay price
and rates based upon fictitious values
and so that the large body Of invest
ors in stock Of such corporations ma
not be misled to their prejudice an
loss. All corporations exercising put
lie franchises have right to fai
and reasonable returns upon their a:
hut