Jasper County Democrat, Volume 17, Number 4, Rensselaer, Jasper County, 18 April 1914 — IS HEAVY BUYER OF AUTOES [ARTICLE]

IS HEAVY BUYER OF AUTOES

Excels in Per Capita Wealth and Has Few Rich Men. I opeka, Kan., April 15.—Kansas believes that It has come nearer being the ideal state from an economical standpoint than any other state in the country. It has a greater per capita wealth than any other state and has fewer rich than almost any other state, it is probable the millionaires of Kansas could be counted on the* fingers of both hands There are many men and women of considerable wealth, but not a single "swollen fortune.’’ There are many thousands of men and women in comfortable circumstances.

Kansas raises its taxes for the support of the state, counties, townships, and school districts on a basis of $11.32 for every man, woman and child in the state. That is the actual assessed value per capita for all property in Kansas. The corporations pay taxes on capital stock, but there is no assessment on municipal bonds issued by Kansas and held by residents of the state. So, adding the valuation of the nontaxable bonds held by residents to the assessed valuation, it gives Kansas an actual per capita wealth of sl,743 for every man, woman and child.

Just to prove that Kansas is no, stingy state, the records of the motor car registration department Show that during January, 1914, the\tate spent $14,328 every business day of the month for new motor cars, and $2,820 every business day for second-hand motor cars. The value of the new cars is estimated to be on an average SI,OOO each and the old ones SSOO each. There are almost thirty-six thousand cars in Kansas one for every forty-eight persons. Kansas had an inheritance tax law for four years, but it was repealed by the 1913 legislature. During the period the law was in force it was found only three-tenths of 1 per cent of those who died left estates worth more than $50,000 and less than 10 per cent of the deaths

were of the owners of estates valued at more than $5,000. Here is a flue economic condition of which Kansas is proud. It has a per capita wealth of $1,74'3 and only 10 per cent of her population may be said to have more than their rightful share of the per capita wealth. The state tax commission has just been tabulating the records of the four years of the Inheritance tax law to see just what the financial condition of those who died within the state was at the time of death. During the four years there were a few over 68,000 deaths in the state of persons owning property. Under the law every estate had to make a report showing the value of the property and the value of each distributive share, so the commission has definite figures on every estate. Three-tenths of 1 per cent of the estates were valued at $50,000 or more, and per cent of the estates had an appraised value of $25,000 and less fchart $50,000. Only 5% per cent had property worth over $5,000 and less than $25,000, and a total of 10 per cent had property of around $5,000 and more than $2,000.

During the period two men supposed to be the wealthiest or among the wealthiest men of Kensas died and several others known to be of considerable wealth passed away. There was one estate exceeding sl,000,000 in value and the other estates of rich men were much less than Under the inheritance tax law all shares in estates of $5,000 or over were taxed under the law. There were only 7,403 estates where the distributive shares exceeded this amount and were subject to the tax. There were 225 estates with a valuation of $50,000 or more, 962 with a valuation of between $25,000 and $50,000, and 2,888 valued from $5,000 to $25,000 out of the estates of the 68,004) persons who died during the four years. •