The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1912-01-01
LaFOLLETTE OPENS
MICHIGAN CAMPAIGN.
tcont,aued from Page One,


knows exactly the lowest point below
which rates cannot be reduced. IL even
raises rates when they are below the
cost line. including reasonable proht.
The people are benefited because they
are not paying profits on Inflated capi-
tai The investors are benefited be-
cause the commission has all the facts
needed. on which TO point the way TO
all the facts required TO prevent re-
duction OF rates below a fair prott on
| the capital honestly invested. More
than this The money invested In the
guarded TO the investor by wise pro-
vision in our law which prohibits the
building OF new lines, gas. water and
electric plants. where the state or the
community Is amply served This saves
the community from the imposition OF
large investments of capital made for
speculative purposes the burden OF
which must always be borne by the
people. No new line, no new public
utility can be established In Wisconsin
until the corporation and the commun
lity Interested are fully heard and the
commission grants certificate OF pub
! lie necessity.
| The general business conditions In
| Wisconsin conclusively show that In
stead OF being retarded by progressive
Legislation, Wisconsin has advanced
/ financially and commercially more
rapidly than the country taken as a
banking inspection and supervision in
1904. there has not been single bank
| failure among the 507 state banks In
that commonwealth. with ;22,ooo.ooo OF
have been that of three national banks
| through embezzlement During the
years 1903 TO 1910 the capital and sur
plus OF all state and national banks tr
Wisconsin Increased 81 per cent. where
as for the United States they increased
46.6 per cent
The clearing house exchanges fol
| lNagoF lraa tVnR cd nan
from 1900 to 1919. while for the United
/ States the increase was about 100 pei
| cent Milwaukee's increase was IL pei
cent greater than that of Chicago.
Judged by commercial failures. Wis.
consin has prospered better than th'
entire country. The total Liabilities II
commercial failures for the entir,
TO 1909. Increased 3s per cent over tn,
total amount for the preceding -four
years. 1902 10 1905. But the liabilities
IN Wisconsin for the same period fel
of or decreased los per cent. In Other
words. comparing the four years tha'
followed the complete progressive vic
tory OF 1905 with the four years tina
preceded st. the business failures In
Wisconsin decreased one-tenth, but fol
the whole United states. they Increased
one-third.
! During these ten years of progressiv,
have increased, but the burden Of taxei
upon the people has decreased. In thu
year 1901, the hrSt year Tor Wmch lhs
property was equalized at It's tru'
value, the average amount OF taxes OF
/ one thousand dollars worth OF prop
erty was SI41f. the highest amount
since that time was s1151 I'm 1908; the
amount for 1910 was only t1l.lS. In
| other words the real and personal
property OF the state paid Fl per CEN
less taxes In 1910 than IL did I'm 1901
That is, taxes have increased less thar
the Increase In the value OF property
In the years 1901 TO 1910 the taxes in
creased Is per cent Cfrom S20,36O,S31 q
| $1,000, 500 But the real and persona
/ property Increased 81 per cent (fron
/ 81 4a6 $4,000 to S2743,1S040D. ThJ
total payments made by the state gov
eminent for all purposes increased
4 frcm t6.046.565 IN 1903 TO Sl0.195.032 ir
1900, an increase OF a little less thar
$1,000, 900 year. But the railroads and
other corporations paid taxes TO the
state OF 81 05a fsS In 1900 and S4.221. So
In 1910. an increase OF nearly 81 900. Oct
a year. That is, the Increased taxation
| OF corporations which for the most par
had not been paving their share OF
taxes, took care ~ more than one hall
Of ell the Increase On expenses OF the
state for all purposes
1 But the Increased payments are not
all OF them due 20 running expenses 81
i tile state. The state debt u limited bv
\ the constitution 20 500. 900 and the
people OF the stale have recently been
| paying from about 500. 900 TO 81 OO0, O00
. year for state capitol TO cost ts,-