The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-09-23
NEVADA IS FACING A
BANKRUPT CONDITION
CONTINUED from Page one)

Administration should be the slogan
of the farmer and stock grower in
the coming election!
The present seems an opportune
time to pause and measure what the
taxable wealth of our State can stand
in the way of contribution to the ex-
pense of our State and County gov.
ernments-to take stock and strike a
trial balance-to measure our posi-
BILE permanent income against our
current expenses-to anticipate in a
business-like manner our future as %
finances.
The outlook is not reassuring but
the present is no time to fool our
selves. Here is where we stand:
Comparing 1920 with 1915 the total
cash value Of taxable property in Ne
vada has decreased 1.2T, while Coun-
~. City and Special District taxes
have increased approximately 1870
and State taxes approximately CSC.
III State and County expenses are to
continue on the upgrade, where is the
money to come from? Our main rev.
enue producers are railroads, public
utilities, privately owned lands, live
stocks, mines and town property.
There is no reason for anticipating
any big increase in our taxable wealth
through new development. On the
contrary, our taxable wealth is on the
decline, and at the same time those
classes OF property from which most
of our taxes come. claim to be carry
ing the maximum load in this respect.
As stated above, our taxable wealth
shows q decrease OF 1.2Z, 1915 to
1920. Net receipts of mines show a
falling of of from s10.645. 900 in 1915
to $3.479.000 for 1920, or $4,000. 900.
Livestock values have passed over the
peak of war prices and are on the
down grade. The livestock valuations
set for 1921 by the Board of Equaliza-
ton will mean a decrease in valua-
tons for the State of SO, 500. 900. Town
property and realty values, instead of
showing al increase during the pc
Rod from 1915 to 1920, show a de-
crease OF 49, 0 1000.
Other main classes of property
have been handed staggering in
creases in valuations since 1915. Pri-
vately owned lands have beer in
creased s5,713.67s during this period
and livestock, $3.234.179. Railroads
and public utilities remain virtually
the same. Merchandise has increased
$1.736.S19. country improvements. ST.
452,375 and county personal. $476.495.
From the statement of the rail
roads. public utilities and banks. as
verified by the tax commission, these
classes of property are up to full cash
value and no increase appears pos
sible in their case. Where can we
look for additional revenue. Live
stock values are rapidly declining.
Land values are ruled in Nevada b.
livestock prices. as is the value Of
country improvements. Mining pro
duction is extremely low. The only
class of property left which contrib
utes In any measur To our taxes T.
town property. Town property own
ers claim they can stand no further
increase in taxation.
Here we are: State and county eX-
penses On the upgrade, taxable wealth
on the downgrado. all classes OF prop
erty staggering under the present
burden of taxation.
There is DO magic formula for this
stu tion. that is needed is for pror
2rty owners as q class to insist on
a putting OF their house In order.
We alust trim our expenses TO a point
where our taxable wealth can carry
them. The burden of excessive pub
lie expenditures tends TO close the
door upon rather than TO stimulate
business enterprise.
The property wner must turn
from their policy of neglect of their
state and county government. take the
helm and steer the ship back to safe
waters or face a forced liquidation
of property which at this time, all
agree. would mean bankruptcy, first
for the property owner and next for
state.
The remedy lies not only in legis'a-