The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-02-02
prior to the act. this property in Baltimore
was assessed at 36,t0o,Gco
Under this act the following assessments

X
1905 ...........,............. 1H.22l.227
1906 Observation-Disclosures. 40. i23,sii
1867 Observation-Disclosures. 5o,eif,T33
1908 Observation-Disclosures, LAG, 6Ss, s57
1869 OBSERVATION-DISCLOSURES, lis,e3i.0i0
1910 OBSERVATION-DISCLOSURES. l5s.5e5.Sf8
am informed that the falling off in 1904 |
WIS due 10 the passage OF an act which |
required all funds held In trust to be taxed |
at the residence o. tho beneficiary instead |
OF at the residence Of the trustee, as form
e,iy
The .ncrease In the assessed value OF this
species OF property is attributed by the !
Maryland officers 10 the Willingness of hold |
ers to pay fair and certain TAX which
docs not vary with local requirements In
"a letter written me by prominent officer
VI the state, the following statements are
made:
In 1895 the securities assessed in Balti- |
more city were estimated TO amount to |
about ss,oeo.eoo, producing in city taxes at
the full rate e per cent? $4,000 per an /
num- The revenue OF the state In that year
di'. cent. rate vas about Sio,65o In the
Very Dox; year, when there WAS a state.
vide resssessment, and largely as a direct |
consequence OF the 30 cent security tax act,
the states revenue jumped TO $4,000 and
the city's revenue 10 si55,t00 OH this class OF
Baltimore. on the other hand decreased in
total amount OF $4,000. i
Under the present reasonabic rate of tax
alton great stimulus has given 10
the Investment money in securities. Much
capital has undoubtedly found ts way here.
which would have remained outside under
.hc old conditional
( commend this lav TO the consideration
OF the General Assembly. am convinced
that with fair and equal assessment and
n proper listing of personal property and
incomes the rate OF taxation might be lower
and still produce ample funds Tor the needs
of the State.
IiepeaI Law Permitting the Deduction of
the Indebtedness of Stockholders from
Value OF Bank Stock
In this connection beg 10 call the atten-
ton Of the Legislature the act approved
March u. 1903, which permits bank in
giving in its stock for taxation to deduct
the Indebtedness OF its stockholders pro-
yided said Indebtedness shall not in any
Gaze exceed per ceDtum of the tota!
actual value of all OF lis shares OF stock
A fair construction OF this act might permit
few stockhoiders TO deduct their entire
indebtedness from the total value Of the
stock, although that Indebtedness would
exceed ten per centum of The value OF
! tho stock owned by deductins holders. But
ductlon for debts owed is not permitted
| from ans other property :. farmer whose
/ plantation is eneumbcfed D. deed OF
/ trust for half OF it's value Is not entitled
/ TO any deduction from the assessed value Of
| his farm. upon which lac pays tax. although
i the owner Of the debt secured also pays
/ tax on tho debt. The act is not fair or just
| is plain discrimination in favor OF the
owner of bank stock. and ousht 10 be re-
I praled.
! Bank Examiners.
! II is unnecessary 10 repeat recoumenda-
lions made in the messas. OF Governor
| Swanson. and therefore. coneurring in his
rerourn endation for the appointment OF
bank examiners, ! desire to say that the
i bill should be carefully drawn and as 1t
/ VIII probably affect The business of the
banks and of the country well
| qulre the examination OF the institut ons
/ il should have regard for the city and
country banks alike, the large and the
! small. 1t should require that the exami-
/ nations be thorough. and the men selected
should be competent, reliable and OF the
hishes, character. No greater blessing
l could be conferred upon the people and the
banks than the adoption OF some laJ
Tor their government which would afford
absolute pro,eetion TO the depositors'
i Public Schools.
| High schools important. Pri-
! mary schools more SO. Teaching
1 up-to-date methods of agricul.
| ture will greatly add to wealth of
state and tend 10 solve the high
cost of living problem.
| In speaking OF our public school system
endorsing what Governor swanson has SO
well said in his message. i 40 not deem it
! necessary TO so over the ground at any
| rate.
| dcrful advance which has oeen made by
our public schools and congratulate those
| rho are in charge OF them. had the
honor 10 be patron in the Senate OF the
| high school law. under which many high
| schools have been established. and feel
| an abiding interest in the htsh schools. es-
| pecially in the opportunitie. they afford
/ FOR sralning teachers for the primary
| schools. which, alter all, arc The most i'm
| portant as they touch very family and
| child III the state l am not an educator.
! but passing along the roads in the
country and the streets in the cities IL
| seems TO me that the children going to
4 school have too many books. and dis
i tlnguisfed professor from our university,
4 in lecture delivered IN one of our Vir-
/ GINA cities some months ago. said that
/ 1t would be better not to tax the children
4 with many studies. which, after all,
4 cause confusion and result III smatter-
| ing of many things and clear understand
Ting OF nothing, but to teach them few
branches thoroughly. This is not intended
4 am sure, will be acted on II deemed
4 valuable.
Up-to-Date Agricultural Methods.
i There Is feature of education. how
\ ever. with which L am deeply concerned.
Il and that is to teach our boys and men,.
i young and old. up-to-date methods of aG-
u riculture, gathered tho following from
i the newspapers and my own experience
II Last year twelve thousand Southern boys,
under the age OF eighteen years. cultivat-
II ed an acre OF corn each under the direction
of the Department of Agriculture. The
u average yield OF corn In the United States
in 1909 was little moro than Twenty-Five
bushels to the acre. The best record was
. made by hoy In South carolina, who pro-
duced one hundred and hfty-two and half
bushels; Mississippi boy Produced one
hundred and forty-scven bushels; boy IN
. bushels and boy in Virginia one hum
, dred and twenty-five bushels. Our boy.
young Ralph Bewood. of Chesterfield was
) tho fourth in twelve thousand. This year
/, | undertake. to say he will be first. and will
, gain credit for himself and his state. The
average raised by each of the twelve thous-
and boys was sixty bushels, or more by
!, ten bushels than double the average pro
i duction in tho United States. In 1909 Ntr-
ginia produced forty-seven million three
!, hundred and twenty-eight thousand bush
4 els OF corn: ii wo double that quantity
and value 1t at seventy cents bushe II
is worth a dollar. our income MS a State
lwilIRbe Increased thirty-thrae millions one
:. hundred and twenty-nino thousand dol
! lars. We are already the first potato-pro.
. ducing state in tho Union, we are increas.
ing our crop of hay, but these crops. which
ii|like corn, respoOd to cultivation and ferti-
I lzation. may still be greatly Increased
!. have especially mentioned tho crops OF corn
Il and potatoes to show what ean.be done By
. intensive Farming. and to stress tho i'm
/ portancc OF educating our BOYS and men
i away from the old ruts into which our
! farmers have fallen. The inst,uttiohs given
! to the twelve Thousand boys mentioned
!. above arc available for every farmer In
q tho State, but ifjthey will not take hold OF
the new methods unless brought 70 their
-