Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1915-08-25
T"zat!on and Revenue
Demands and Taxes Constantly Increase.
Everything has been tiled Except Economy

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Everything has been tiled Except Economy
Washington Post.
| Discussion of the question o
public revenues and the matter O
their increase by the New Yorl
State constitutional convention
has directed attention anew no
only to the budget system. but tt
the ever inoreasing demands o
States, cities and other politlcs
divisions for revenues The in
crease in this demand for money
for public expenditures attest 8
concurrent demand on the part o1
the people for more service of q
public nature. Better service in
cludes about everything within
the range of State aud municipal
activities. from the necessities,
such as pavements, sewers and
water supply, TO what may be
termed the luxuries, such as parks
boulev ards and q letter class Of
public buildings, while the service
demanded from the State is of q
similar nature. The part of the
problem which is most perplexine
is that there is apparently no
prospect of a dimunition of any
of these demands About every
device except efficiency, economy
and the prevention of waste for
an increase in service and for the
money to pay for suoh increase
has been tried. Not only have
the assessments against all forms
of taxable property been increased
until they rest approximately at
the market value, but new forms
of taxation are constantly being
devised.
An effect of this demand for
larger revenues which is attracting
attention and which invites study
is the influence on the value of
real estate and of general securl-
ties of corporations. A first re.
suit seems to be the inl1uecne not
80 much on the deslrability of
holding it for investment ,pur-
poses. The returns from such in
vestments seem to be less stable
than they were a few years ago,
aud in the larger cities there is
constant complaint from the real
estate brokers that many indus
tries are satisfied with practically
no returns in the form of rent
from their real estate holdings,
but look to the increase in the
value of their property for the re.
turns on their investment.
Some students of the situation
have already predicted that the
ultimate effect of this increase in
taxation will be decreased value
of property holdings, for the
simple reason that real estate will
cease to be q desirable investment,
and there must be some limit to
its advance in value. They say
that in England, for instance,
which is perhaps so years ahead
of us in matters of taxation, the
value of ordinary residential prop.
srty is from 30 to so per cent low
or than the value placed upon
similar property in this country.
Il has also been pointed out that
the value placed on farm lands in
this country is artificial and in
many cases far in excess of the
return which could ordinarily be
expected from the cultivation of
such land. The farmer who has
made loud complaints against the
water in she stocks of railroads
and industrial corporations is
charged with having placed on his
own Land holdings a value which
contains approximately as great
proportion of water. An inter-
estlng factor in the situation il
the complaint from savings banks
which, although they have adher'
ed to the rule that a mortgage
loan should be made only to the
extent of half the value of the
mortgaged property, have found
that in many cases they could not
sell the property under foreclos
ure for { h Q amount advanced
sgainst it.
Little progress has been mad
toward the solution of these ques
tions, but If one result is the de
mand for greater efficiency on tn,
part of public officials and fo