Indicateur des postes et télégraphes de la République de Turquie

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Monograph

Identifikator:: 1790031761

URN:: urn:nbn:de:zbw-retromon-176292

Document type:: Monograph

Title:: Indicateur des postes et télégraphes de la République de Turquie

Place of publication:: Constantinople

Publisher:: Rizzo

Year of publication:: 1928

Scope:: 63 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: [Tableaux synoptiques]

Collection:: Economics Books

144 THE A B C OF TAXATION inspection and accounting. This tax would appro priate to the public such net earnings (barring a liberal surplus), leaving the industry itself free from tax. Such regulation would seem to promise all the benefits which could be claimed for public owner ship without the dangers which would attend that policy. It may be that the management and the commission could be merged into a holding company, which would become, to all intents and purposes, a public commission with all the benefits of actual municipal ownership. By way of illustration, let it be supposed that a number of railway experts (not exploiters) have formed a company to take over the franchise and operation of a great railway. Although small holders of stock, these men naturally become the salaried officers and managers of the business. Under what must amount to a municipal guarantee of dividends (out of profits in good years, or out of surplus in bad years), the promise of a low market rate suffices to attract ample funds from the sale of capital stock, and the corporation is established as a going concern. Let it be further assumed that taxation has been operative, say, for a generation; that it has gradually recovered to the public the value of the franchise by a process so tentative and even cautious as to make "grim financial disaster” impossible. Let it be next assumed that, as a result, the triple concurrent agencies, "private ownership,” “public regulation,” and "taxa tion of franchise,” are now in mutual and harmonious control of the situation, from which speculation and exploitation will have been eliminated as superfluous.

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