Show WHAT IS A MINE THE STATE of utah Is perhaps more dependent on and profits to a greater extent from rom the operation of the mining industry within its borders than tiny any other state how many people know what really constitutes a mine or how taxation affects mining how Is the price or value of farm land determined d or established disregarding inflated values it Is ie based on the annual earning power for example it if a tenant could pay a year rent on a farm then the proper price of the farm would be 2000 if 11 eight per cent was deemed a fair return to cover taxes interest or profit on investment save sare in one altal respect the method of valuing a mine Is identical says L C groton graton one of the worlds leading mining authorities in his lif t booklet 1311 mines nes and mine taxation in the state continued on page seven 1 14 i i 1 tji 4 EDITORIAL T d I 1 1 maii continued from pago four of utah the one essential difference between farms and mines so far as aa valuation Is concerned Is in the matter of 0 dur duration atlon or life A farm arm it if given reasonable and proper manag management ment Is presumably surn ably rood good tor for years the capital value resides in the tarm farm in perpetuity but the mine suffers injury and progressive destruction through the act of 0 operation the purpose of operation 14 1 to produce metal and each years operation therefore depletes the mine in contrast with the farm whose it capital remains constantly intact the mine become less and less valuable until at last when nil of its ore has been exhausted it is valueless obi lobi linsly bously then the proper value ot of a farm arm yielding a year mill bill not be the same fame as the alie proper value ot of a mine 3 folding beld IGO a year tor for the buyer of 0 the farm can at tiny any jime ime get ills his money back ty by selling whereas the mine will be worth north less and less each year tills this great difference between a farm arm and a mine should be understood and thoroughly considered wherever a taxation program for mining prop properties rt es Is being formulated UNEQUAL TAXATION DANGEROUS UTAH Is harrissey harris sed with a campaign to try to raise more tax ta resende by asse assess ing an unequal share ot of taxation again its largest industry namely mining it tales less brains to raise tax revenue by soaking a big industry than it 11 does to figure out a system of 0 eai eqi equal a I 1 taa tion tor for all A town lot becomes more valuable as a community gros grois the more it Is used or the larger the building which Is put on it the more valuable it becomes it has a value which Is easy to ascertain for taxation purposes on the other hand I 1 the value of a mine decreases with every carload of ore taken out of it T the more it Is worked the less valuable it be comes due to depletion of 0 resources many any tappers tap ners honestly believe that de depletion P ebion la Is a vague term that gives elves mines in e a an unfair opportunity to dodge taxes 6 As a matter 0 of fact authorities 1 ze depletion depiction as a necessary and essential factor in mine accounting 7 unlike the average store or local busl bud ness nes s a mine cannot pass the taxes it pads on to the ultimate consumer tor for the very simple reason that the products of the a average mine ore are sold cold outside the state where they are produced prod need and mut must compete with mineral products from all over the world the price of metals produced in a state like utah Is established 1 by world supply and demand and tt it Is impossible for butali mines intges or the mines manes of any otner state to add an exorbitant tax b bill I 1 u which they may be assessed on to lie ie price of their heir metal and sell it in the open market in competition with other metals which are not assessed the same came amount of taxes the utah mining situation Is a sample of conditions that arise tn in other states m here industries are in the limelight due to their size and prominence people forget that without successful basic industries employment ia lags A wages decre decrease aAe local markets for farm products are destroyed fre freight I 1 glit shipments are curtailed and general stagnation results this it not an exaggerated picture b but 1 11 t a statement of fats ruinous taxation 0 n for or a basic balc industry means ruinous conditions tor for any state which depends largely for its business success on if the ie products produced by such an industry fair and equal ednal taxation Is the only solid foundation upon to build the financial structure of any community CAN SEVEN MILI MILLION yon PEOPLE BE WRO WRONG G IN A recent article paul tomlinson fidanc financial 1 I at editor of harpers magazine defends wall street and the Im estment attitude of the public ue lie says that an attack attach on the stock exchange Is in reality an attack on the seven million amerlean american investors who mho patronize it can seven m million people be wrong he ask it seems hardly possible and yet it if wall street is 13 a nicked institution engaged in nefarious practices oer seven millions of our citizens are its partners in crime mr tomlinson points out that the stock exchange Is a place where supply and demand for capital meet where a market is if provided for the sale and purchase of the securities of major industries all over the world a market essential to progress s and one surrounded by safeguards for the investors prices on the stock exchange says mr tomlinson have never been controlled but adapt themselves to the file shifting shit ting economic forces of supply and demand it has been said with authority that perhaps the safest investment in the world is a call loan f secured by stock exchange collateral attacks on the stock exchange are more often prompted by ignorance than by any roll real grievances it should he be understood der stood that without a market for securities curi ties the development and growth of our great industries would have been impossible impo sible the modern exchange more than any other agency has led in the movement to distribute high class re ne curi ties in nil all tapes of lik wi among citizens in oil all walks of lire A FRIEND inks arks iby nien men are like potage stamps our answer is they both must stick to get anywhere TANNING the lie hide Is now the vogue as a health hobby once it mas found equally efficacious enica cious in matters of discipline A FRIEND commends the move to make prison surroundings attractive in time ans lie he they hlll ill look so much like home that people aill really succeed in fit keeping out of them kierr still waiting ailing for the political ge genius clug who bho can how to increase the price of ever tiling we be sell bell aud an d louer loner the cost of ner thing we ne buy ny TIIE THE TARIFF fight has just juet open opened ed and it will ill end at some time we trust truit in the distant ages to rome come |