Copper Company Taxes

IN VIEW of the wide publicity given to the charges by the Couzens Committee of the United States Senate of discrimination by the Bureau of Internal Revenue in favor of the copper companies, it becomes a matter of interest to consider the basis for these charges. The point to be determined is whether they rest on a foundation of fact or are purely and simply matters of opinion. The whole question boils down to the purpose of the Tax Law as applied to mines, which is to afford the same protection to them as provided for all other taxpayers, namely: that they were to be allowed to pay back as depletion to their owners the values of their properties as they existed or were estimated to exist on May 1, 1913, free from tax. To determine these valuations it was? necessary to select from a wide range of possibilities a set of values for a number of essential factors.