Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-01-30
THE FINLEY REPORT.

The Journal is in receipt of copy Of the mine
tax report of J. r. Finley to the State Tax Commits
sion, 1t is far too lengthy for publication. AS soon
as an analysis can be made OF this document the
results of our study will be given to the public.
We admit frankly that disappointed with
the low figures set by Mr.. Finley The Journal sup
ported the Taxpayers Association in its demand
that Mr.. Finley be employed for this work. We
feel bound to accept the values he fixes the pres
ent assessed valuation,
The big political mine operators fought tooth
and-nail against the Finley employment Now they
hail him as a great evaluator. Then they said that
it was impossible to fix a physical valuation of
mines Now they it be done and that
Mr.. Finley has done it, These owlshly wise gentle
men, devoid of a Of humor will the pub
lie TO smile.
Mr. Finley says that values of mining properties
are low at present and will remain for a good
many years, We infer therefore, that during the
five years prior 1921 Mr. Finley would have fixed
values much higher than the rate at which the
mines actually paid taxes. He to have proved
without saying so, that. prior to the slump, the
mines paid too little taxes.
Another thing! Had the mine-tax law of 1915
remained unamended, there would have been no
taxes paid by the copper mines in 1921 and very
low tax, If any, put in the next several years I'm
der the Finley report the returns from the mines
will be about equal to the paid at the height
helped greatly by the agitation.
If Mr.. Finley is right in his figures at a
loss to understand the efforts of the mines to
troll politics and publicity. They have seemed to
waste great deal of money in a useless policy of
domination.
Mr. Finley is an expert mine appraiser. He is
not an expert in taxation. Some of his theories
along this line of taxation weird. He would
not tax unproductive property II he is right about
this vacant town lots should be untaXed.
The Journal feels at liberty to discuss freely the
taxation theories of Mr. Finley. We also feel at
liberty to draw deductions of from the
data he has compiled.
Men who entertain the views held by Judge b
S. Rodey will refuse to accept the evaluation made
by Mr.. Finley. Judge Rodey persists with irritating
reiteration, upon multiplying net income by six and
twothirds, as they do in Arizona. This capulatioD
of income is the correct basis Of taxation, accord
ing to the Judge.
The income of copper mines in New Mexico in
1921 nothing. Six and two-thirds times nothing
is still nothing We fail TO understand Judge
Rodeys insistence that his method would be any
solution to our problem.
The suspension Of copper mining with its con-
sequent entire stoppage of net income proves clear
ly theory that the only consistent and sensible
system of mine taxation is the basis of the actual
going value of the property. Otherwise the state
can never know how to plan its expenditures, "a
there Will be a hISh net income IN one year anu
nothing in the next year. There Is no way under
such system to fit expenditures to income with
any degree of certainty.
The Journal has established by its fight, that
ad valorem basis is possible in spite of the de-
malls of mining officials Now the sole problem Is
to raise the values from time to time, facts and
conditions justify. So making speed toward
equity in taxation, in spite of all resistance by the
special interests.
Whether not must fight further in order
to force the mine-owners to let go their strangle-
hold on New Mexico remains to be seen. If the
mine-o owners will trust the machinery Of govern
ment which the people erect, the Journal will do
all it do to prevent any injustice being done
them. If they persist in effort to the state
for their own advantage will quarrel with them
to the bitter end Contributions by them to political
campaigns must end
Mine taxation now and m the future, should be
settled on merit. The people have powerful
political lobby to protect their interests and the
mne-owners must cease to have one
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