106 THE FISCAL PROBLEM IN MISSOURI
that obtained from any other source in that year and con-
siderably more than twice as much as was received from the
same source in 1923. The increase since 1923 has been grad-
ual, except in 1925, when the receipts exceeded those for
the preceding year by a large amount. In 1925 motor ve-
hicle licenses for the first time became the most important
source of state revenue. Since that time this source of
revenue has ranked first by a wide margin, and in all years
later than 1923 it accounted for 25%, or more of the tax
revenue of the state. The highest proportion was attained
in 1925, when 28.39%, of the state tax revenue was obtained
from motor vehicle licenses.
When’ the receipts from the gasoline tax and motor ve-
hicle licenses are considered jointly, it is found that for the
years during which the gasoline tax has been in effect the
combined receipts from the two sources amounted in each
year to at least 44%, of the total tax receipts of the state.
The proportion attributable to these sources remained
practically stationary for the four-year period 1925 through
1928.
Business licenses, including the foreign insurance company
tax and the express company tax, accounted for almost
$3.0 million in 1928. There has been a rather steady increase
in the volume of receipts from these sources, but the increase
has been more gradual than in the case of total taxes, with
the result that the proportion of the total attributable to
business licenses has been declining. In 1928 the business
license classification accounted for 8.79, of the tax revenues
of the state.
Considering the period 1923 through 1928 as a whole,
three important facts are noteworthy. First, the receipts
from the general property tax showed a large relative de-
cline; second, income tax collections increased during the
earlier years of the period, but declined during the latter
years both absolutely and in relation to total taxes; third,
motor vehicle taxation assumed first place in the revenue
system of the state. When it is remembered that highway
finance has predominated in the fiscal affairs of the state in
recent years, the increase in motor vehicle taxation seems
entirely logical.
