The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1915-01-06

phopcitJ VI Tue TAM Odu NohApahCo
was assessed at more than its real
value by the present board, and that
the assessment against farm lands
and city lots must be raised before
the assessment against the property
of the railroad companies could be
increased.
I do not believe the farm lands Of
this state are generally assessed for
taxation and valuation as low as one
half OF their real value. II the value
Of the farm lands of this state should
be estimated by capitalizing the net
income derived therefrom on the
basis Of per cent, which method is
employed to find the value of railroad
property, 1t would be demonstrated
that real estate at present is assessed
ct approximately the full value there
of. IN other words, IL the same mode
or method of ascertaining value
should be applied to find the value OF
real estate it would be shown that
real estate is assessed at its full
value. The court, preliminary to is
suing an injunction, required these
companies to pay on a valuation
greatly in excess of any sum they had
paid on in previous years. The aggre-
safe increase in the amount of taxes
paid by these companies in the year
1912 over the year 1911 was about
S125,000. In the years 1913 and 1914
a like sum was collected from these
companies. During the three years
of my administration these four COM
panies have paid to the state S375,O0O
more in taxes than was paid by them
during like period of time under the
administration Of my immediate
predecessors These suits now pend
ing, when decided, will determine
finally the amount of taxes these COM
panies will have to pay annually to
the state in the future. and the ques-
ton of the real value of this property
will no longer be open to discussion.
II Is important that the question Of
value of these franchises should be
judicially determined and forever set
tied, because the belief has prevailed
in this state among all the people for
some years that the big corporations
CT the state were always active In
politics of the two dominant parties
Ia the state, with the end in view OF
being favored in the assessment of
their franchises With franchises Of
corporations assessed at their real
value, as they should be, the corpora
tons will be taken out Of politics In
this state, as they ought to be.
AS auditor of the state for the past
three years have also been a men,
Der of the sinking fund comm ION
of the state and, having info alton
gained while acting in that opacity,
| believe l am thorough familiar
with the fiscal affairs OF me state.
am in favor of and, If elected,
win advocate the passage Of law
that will require that all state sup
plies used at all state institutions to
be purchased by the competitive bid
ding system, and that the lowest open
bid for supplies furnished all instit
tons be accepted, and l believe the
state could easily save 100000 year
by inaugurating such system.
| am in favor of and will work for,
Il elected governor, the establishment
of system of taxation that will be
fair and just to rich and poor alike,
and that will cause the listing of per
scnal property for taxation, which
Low because OF the rate of taxation
IL, many taxing districts, does not pay
any taxes at all, and that will place
the burden of taxation where It be-
longs, on those best able to bear 1t.
| am in favor of sucn legislation, or
of a constitutional amendment, If
necessary, to put a fixed and definite
limit upon the rate of taxation in
Kentucky, a step which | believe
will cause our officials to follow a pol
icy of economy and efficiency in the
of the peoples funds.
am opposed to the convict labor
system and favor the abolition Of the
present contract system and the elm
nation of the competition with or.
ganized labor that is the direct result
of It, | am in favor of the use of con-
yicts to produce what is needed by
the state institutions and of the pur-
chase of farm on which they may
labor in the open air to produce the
foods needed in these institutions.
l am in thorough sympathy with
the farmer, having been a farmer and
living on farm all my life. will do
all can as governor for the great
agricultural interests of Kentucky
and the men and women engaged in
IT, AS long as the farmer is pros
ferrous every other interest in the
state is prosperous, and all her peo-
Pile share in disaster to them as well
as in their prosperity.
II | am elected governor | will do
ell can to further the good roads
and all that is possible to
secure liberal appropriation for the
schools and their continued improve
ment.
II the people want for governor of
the state man who will devote his