File:Some comment on government ownership of telephone properties (1914) (14732866116).jpg

Identifier: somecommentongov00beth (find matches)
Title: Some comment on government ownership of telephone properties ..
Year: 1914 (1910s)
Authors: Bethell, Frank Hopkins. (from old catalog)
Subjects: Government ownership. (from old catalog) Telephone
Publisher: (New York?)
Contributing Library: The Library of Congress
Digitizing Sponsor: The Library of Congress

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rnment, it is stated, can borrow money at 3 per cent.Its present 3 per cent, bonds are selling around par only because the issue issmall. A federal bond issue of Two Billion Dollars would be likely to runthe credit of the government down to a 4 or even a 5 per cent, basis. It is for similar reasons that 3 per cent. French Government bonds sellat 82, and 3 per cent. German Government bonds sell at 76. The national debt of New Zealand, due to such socialistic ideas as areinvolved in the government ownership proposition, is $400.00 per capita. Atthe same rate, the national debt of the United States would be Thirty-NineBillions, instead of One Billion Dollars. We would become a debt-riddencountry taxed to our eyelashes to meet interest and sinking fund charges,and this in addition to having forced upon us a debased, an inefficient, andan inadequate wire service. — 5 — PER CAPITA INVESTMENT OF UE:ADIIMG UNITED STATES INDUSTRIES AND TOTAL NUMBER OF EMPLOYEESJAN. U1910 RQ^OENTS CMFUDVEES
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TAXES. Now a word about taxes. During 1913 the Bell System alone paid$12,000,000 in taxes to the federal government and to the various states andmunicipalities. The government pays no taxes, not even on its real estate. Government ownership would mean that the $12,000,000 now contributedby telephone companies to the government and to the various cities, townsand villages, would have to be raised by additional taxation of the wholepeople, whether they are telephone subscribers or not. In New York State alone taxes paid by the New York Telephone Com-pany last year averaged about three dollars for every telephone in service.The city of Albany received last year directly from the Company about 6 — $12,852.00, and indirectly the city received some part of the $336,000.00 intaxes paid by our company to the State. The New York Telephone Companypaid to municipalities last year approximately $2,000,000.00, while to thefederal government it paid $107,677.00. The income tax law will materially

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