Regardless of any opinions that may be held as to the propriety of the methods adopted in the Interstate Commerce Commission's commercial valuation of railroad properties, it will be conceded that the results gave a set of figures for all the States of the Union, secured by a uniform method of computation and distribution. Table 1, which is a compilation from Tables 1 to 11 of Bulletin 21, shows clearly why, in certain States, corporate taxation is a live issue, and if (as suggested by Mr. Williams in his article, elsewhere referred to) amendment of the Constitutions of some of the States is necessary, it is safe to assume that the condition of inequality shown by this table is such as to compel these changes. It is needless to cite further instances; enough has been said to indicate: _First._—That the corporations and the public have such intimate business relations that a blow at either must necessarily injure the other seriously; _Second._—That the Courts have defined quite clearly the legal relation existing between the two interests; _Third._—That there is lacking a proper spirit of mutual confidence, and the two interests at the present time are generally hostile; _Fourth._—That there have been errors and abuses on the part of both corporations and public; and _Fifth._—That capital invested in corporations is, and should be, the money of the people, and should be safeguarded so as to prevent its loss by manipulation, and insure a fair return. TABLE 1.—COMPARISON OF ASSESSED VALUATION AND COMMERCIAL VALUE OF RAILWAY PROPERTIES.