The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-10-13
LETTERs TO TRE MORNINe JOURNAL

70 tho nferoeo OF the ycnr8 1915.
1917 and 1918. being tho banner prti-
d%uction ana values Of output during
This bill was introduced by Daniel
Padilla and Iaidoro Armijo. and .ex-
cept for this Legislation the taxntion
product from several Of the mines
would AVE been greatly reduced and
riglltfully 80 In view OF the greatly
reduced production In quantity and
valiic.
Tho o~vcr1vorkcd blouse and Lot"
Story
The foolish argument nns been sub.
mitted by the democratic publicity
director: That II n house and lot worth
t6,0uo and bringing an annual rental
OF $500 were taxed on tho basis OF
the mino tax law that It would pay
a tax OF Wis Instead OF $3.50. The
reverse In true II taxed upon the
basis OF the mine tax law--lt would
pay the $3.50 plus tho SIC taxes on
revenue. In this connection Il IL
noted on the tax records that the
Chinb Copper cO.aIgtiiy was taxed FOR
tho year 1913 upon improvements
p6.si6.s5o, on lands Sos, 2s0. upon
personal property t1U0.OCV, n total OF
&7.Ss5.lfO. In addition to this
amount OF propniN taN tho produc-
tlon sax under the law passed by the
last Legislature amounting ~ fi0,tt0.-
i7f
whnI Judge" Pntton Don't Knuu
Geaeral Patton II quoted as having
made the statement In Santa Fe that
the mining companies were being AK
.ed on their net profits: This Ia q
sample Of %fallacious propaganda in
dulgtd In By some OF our democratic
frienhs.
The net profit has no relation 20 the
mine tax law; for instance, tho tax
OF 1919 against this company WIS
upon q valuation OF SIS, 126,j3i, the
het loss for the Amo year vas tite,-
6bi.35, the taxes for 1918 wns upon
the caiuation OF tit,4i6,e5t, the net
profit for the same year was $3.50.
l21|t0, the taxes for the year 1910
was upon valuations OF f~t6.SSi,53J.
for Tho same year tho net profitn were
ti,I2s,l3i.59; the present production
tax ~ In eject q aaleH tax undertake
ing to fix gross vnlucs In the ground
and measured by daily production. |
agree that the ad vniorem or caSh
market value of property should be
tho minimum basis for assessment. |
further favor as a remedy for cQupli2-
inf values ana production against
possible confiscatory taxation limita-
tim OF the rate OF taxation By consti-
tutionnl amendment. which Limitation
should be far below the present tax
rae.
During the war patriotism and n
willingness to sacrifice WA ono OF
the nations chief assets and Bourca
~ strength. This company measured
up to the true American spirit in time
Of need when billions were required
to finance the expense OF sending
brave boys over Beas.
They subscribed for Liberty Bonds
as follows:
First issue. 100000 allotted
$4,000.
Second issue. 100000. allotted
t~l,3A9.000.
Third issue, 100000, allotted
81. 900. 900. b
Third issue Employees. allotted
100000: subscribed S650.0nO.
Fourth issue, allotted t2.0O0,0o0
Fourth issue, employees allotted
100000.
fifth issue. allotted, sS0O.oOo
SO that a total OF S5,6si,650 Of
Liberty Bonds wero actually pur-
chased by this company and It's I'M
ployeS In aid OF financing tho nation
during the war.
Can Il be possible that tho fair
thinkine people OF this state who
love n fair. square deal will Justly.
aliln ABIToNt NHt uNTlliEOklN POh1NG
of the democratic party and It's candi-
dntes, and especially Mr.. Richard
Hanna. In an attempt 10 ride Into Of
ficc by undertaking TO create class
prejudice by mis-statencnts OF fact
at tho expense OF Industrial corpora
lions which have lone so much to
develop and favorably advertise 10 the
world New Mexico'S possibilities. cs-
pecialiy In view OF the fact no per-
son regardless of the portion OF the
state from whence he halls, is ad.
vocating anything savo equality Of
taxation between all property owner
I do not claim perfection for the
mine tax law or that the system mny
not be changed TO advantage. I do
however, claim that pursuant TO com
mon dcconcy the public Is entitled IN
know the truth and shame on him
who would profit by scandals based
on false prcmisc1.
| hope hat in the interest OF fur
dealing you will give this communica-
tion publicity.
Yours very truly,
(slgned) HOLM o. BURSUM.
Scientists are trying to reproduce.