The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-09-21
D. w. DAVIS AND HIS PLAN FOR
A "TAxLEss STATE

The primary campaign of ID. w.
Davis, republican nominee for COVER
nor, was made largely upon plan to
relieve the people OF Idaho from the
burden of taxation by SO handling the
vast land resources Ii at they will earn
the required revenue to support the
state and eventually the county gov-
c1nments The idea evolved by Mr..
Davis is popularity referred to as the
',s xless state" and a thorough under
stsnding OF the scheme must convince
any thoughtful citizen that it is based
upon business principles, and is not
visionary scheme devised for the
purpose Of catching votes. Mr.. Davis
Is first of all a business man who has
earned success by close study aid
application of business principles, and
| Il Is these that he now proposes to
adept In conducting the business of
tie state. His explanation of his plan
! for financing the state Is here ex-
planned in his own language:
"Idaho's resources can be made to
gay the costs of government. To do
Sc requires only that they be convert
ed into cash and interest bearing Sc
curities and part of the earnings re-
invested each year. This statement
is based on the fact that a sum of
money drawing six per cent interest
the interest added to the principal
and reinvested each year, will double
In less than twelve years. 1t makes
no difference how large a capital we
have to begin with. Our state lands
are estimated worth at least fifty
million dollars. But II we can read
lily dispose of only enough of them
to realize one-half of this amount it
will only take twelve years to in
crease the fund to fifty million dol
lars by reinvesting the earnings. BY
continuing this policy great fund
would soon develop, the earnings from
which would be in excess of the
amount needed for all purposes for
which taxes are now levied.
There Is nothing new in this idea
except its application to the handling
of the states resources Every in
surance company, every bank or trust |
company every mercantile institu- |
ton which has from a small begin |
ming grown strong has done so by |
felnvested earnings. Hundreds of |
our business enterprises are doing ex-
actly what | maintain the state should I
do; putting part of their earnings
lack into the business. Almost every
community has it's example of this
kind and this fact has made 1t easy
Tor the people to grasp the possibilities
that this plan holds. That eastern
states did not adopt this policy be-
fore their resources were exhausted is
no reason why western states should
not adopt it,
Il advocate the conversion of our
into interest bearing secu-
rites, using a part of the earnings
for current expenses and reinvesting
the surplus earnings. The cost of
our common schools, the university,
our two state normals, the technical ,
school for the deaf and
blind, industrial school, soldiers home ,
The north and south Idaho asylums
or the insane, the penitentiary. the
capital building and grounds can be
provided for in this way and surplus
beyond their needs developed. When !,
his condition is reached there viii be
10 reason why this unneeded surplus =
AN not be applied to meet other ex- .
lenses for which taxes are levied. and
hus ultimately make our resources
Jay all the costs of government, unless
he people themselves prefer to con-
inue paying taxes"