The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-04-23

LUZ dSSESsmGuL -------.--- - -
a total for improvements
and net proceeds $3.50
Total mine and net proceeds
tax paid 1854
IF last year three million
dollars had been invested
in farm lands. the tax would
have been S3.ils
I'm stocks of merchandise. 43.5N
In banking, the tax would
nave been 52,I5R
Net Earnings A. G. VI. Company
During the early part of 1922
the great Anaconda Copper MiniEg
company decided to put out an isszs
Of 800, 100000 bonds, to buy adE-
tiOnal mines in Chill from the Gug-
genheim interests. On January y.
1923. the bond house Of Wells-DIcET
company, through its agencies. o.
fered these bonds to the invest.-<
bankers in a letter stating:
The net earnings of the AnacozA
Copper Mining company for the &C
years ending December, 1921, be-
fore deducting interest and ~deprecia-
ton, but after paying federal taxes.
amount of 500, O9O,40s per year. T1zz
is almost two and o~ne-quarter times
annual interest charges on the entire
funded debt.
According to the report OF
the U. s. Interior depart
ment. the value o. al min
eral produce, from the
mines in Montana for 1922
amounted t .$~44.925,9s
And for 1928 56.G5G,0 y8
Under the net proceeds
dual system of taxation in
e Montana the assessed val
s ne for taxation Of all metal
mines for 1922 was only 970.525
"The entire mining wealth of
n Montana for 1923 was only
e assessed - 5,185,36
"Why should one class of properly
e pay taxes on net proceeds or n
come and all other property on -
ie full cash value?
II ct is true that mines pay tare
on improvements; so does the farn-
ID er, merchant and banker. The miE=E
n are taxed on real estate at the pr5y%
n paid the government for the acreage
I'd for the mining claims when patente&g
n, which is $3.50 per acre for plaoE
and $500 per acre for quartz claEEE-
Other property owners are taxed c1
he full cash value. regardless of prrSa
paid the government.
N, Would it not be just as fair ~
tie have had a clause in the state cR-
mt stitution giving land owners tax
"a same consideration?
'In that cas- the 0wner of a ~
acre homestead would be assessed
for taxation, the $40 he paid .Jnd=
'as Sam at the time ne made final proof
n" and received his patent.
a As il is apparent to everyone th<s
on under present conditions in Montana
it is hardly possible to elect a leg
he ~islature in which one or the otEB~r
OK, of the two houses viii not be finsEy
OA- controlled by the big mining inter
ests, so as to defeat any just mirIssg
tai tax law, and most people forget tbEk
enC under our constitution it takes a tWg-
de- thirds majority in both houses to e.
en- submit a constitutional amend
the ment to repeal the present un-a1,
provision as to net proceeds aaa
the only other alternative IS to initiata
ct the bill providing for a license tar
eel of ! per cent on gross productleA
as which is permitted by the consit'a
Id ton.
vii The people &C Minnesota, after p
years of struggle, have finally eH
ORE acted a six cents per ton cross prs
the duction tax on It's iron ore deposits
the "Nore than 80 oer cent Of II
cry stock in these Montana mines :
owned and held by non-residentr y
ron Montana. Why should not these noa
ID residents pay exactly the same f&i
go proportion Of tie lost Of govern
oo'' ment in Montana on the miEeEa
'ur- wealth owned by thon ae we, VII
ear live here in Montana pay on OF
ana farms, livestock. banks. homes an
other business investments.
ach- "A tax of / per cent on gross prO
duction will neither hamper, Grips
ent nor destroy any legitimate minla'
pro- interest in Montana. It will equa1
airy ize the present tax burden and corr
one pei our absent mineral landlords
npt. assume an equal share Of the Coz
the Of government.
, as Is it now the civic duty Of eac
o~;t;zen v,bo knows tbes. things II q
cent - IL, r;.n Tho n~atIflnr