If a franchise is worth very little, it should be taxed very little; but where the franchise is of great value, it certainly should be heavily taxed; and the value is of course based upon the use of the city’s or State’s real estate.
Roosevelt argues that the taxation of franchises should reflect their actual value to the community.
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Now, Therefore, I, Theodore Roosevelt, President of the United States of America, by virtue of the power in me vested by an Act of Congress, approved June fourth, eighteen hundred and ninety-seven, entitled, 'An Act Making appropriations…
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