American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1845-01-08

note, inland bill of exchange, or other obliga-
ton fer the payment Of money hereafter TO be
taken, should be good or pleadabic, or given
III evidence in any court of law or equity In
this State, unless the same should at the time
they are signed be stamped in the manner pro-
vided for by the Legislature, and | would pro-
vide that the State should receive for the stamp
required on 4 note or other obligation for the
payment Of sums of 500 or under, the sum Of
twenty five cents; sums of more than 500 and
less than $500, one dollar; and sums Of more
than $500 and less than $1,000, two dollars;
and of sums of more than $1,000 and less than
$4,000, three dollars; and of sums of more than
$1,000, five dollars. Practically the effect Of
this legislation would be to impose upon the
borrower Of money only an additional interest
equal to the stamp duty, whilst in most cases
where the obligation is given fora preceding
Indebtedness, the creditors would pay the tax.
If the details of the proposed law are so framed
as to avoid inconvenience by rendering the
stamps readily accessible to the citizens OF any
part OF the State, it would in my judgment OBJ
vate the only objection which could be reas-
onably urged against it.
Your own reflection will convince you that
whilst this law could in no case occasion indi-
vdual oppression, it woald operate TO relieve
at least from additional taxation that portion of
the community (the landed INTEREST," who have
hitherto horne the greatest share Of the public
burthen.
aided by the operations of a similar law pass
ed by Congress during our late war with Great
Britain, would estimate thata tax such as
have recommended, operating upon all monied
securities, would yield a probable annual reve-
rue of $4,000.
The income tax law imposed by the act of
lS4l, ch. 325, i'll its application to professional
men and all others who have not fixed income
or salary, is difficult CT enforcement and lnqui-
sitorial in principle, and is consequently more
Objectionable than any other mode Of taxation
by which the same amount Of revenue could be
raised. | would therefore recommend that this
law should be restricted in its operation to per-
sons whose income is fixed and certain, and
that all practising attorneys and physicians and
the several clerks of the County Courts and
Registers OF Wills, should BIO required to pay
annually to the clerk of the county or city in
which they reside some reasonable amount, to
be by the clerks paid into the treasury. No
portion of the community feel deeper solicit
tude for the maintenance of the States credit
than the persons here indicated-and no class
of the community will more checrfully contr-
ceived in the treasury during the present year
from the income tax was about Sl3 900, and |
have no hesitation in saying that the proposed
alteration of that law will insure the punctual
aud cheerful payment of double that amount
into the treasury. ! would next recommend
that all holders of the funded debt of the State
(whether certificates of stock or bonds of the
State) on which the State pays interest, shall,
,ciihoW exception, be liable to assessment of one
fourth of one per cent, in the same manner as
all other property of the State. BY the exist
ing laws this tax does not extend to the stocks
of the State, the interest on which Is payable
out of the State. No difference can be perceiv-
ed to exist between the debt of the State, the
interest on which is payable at the loan Office,
and that, the interest on which is payable in
London and the income tax law of Great Brit
ain clearly recognizes the right of taxing her
debt, (Which is, however, entirely domestic, J
whether in the hands of citizens or foreigners
This recommendation, if it should meet with
your appreciation, together with the tax on the
stock of the city of Baltimore not hitherto col
lected, and to which your attention is especial
ly invited by the Treasurer in his report, will
place in the treasury about $50, 900 annually
There is one question connected with this
subject which imperatively demands your i'm
mediate and efficient action. | refer to the
non-payment by some of the counties Of the
tax levied by the act Of 1910. Justice requires
that citizens residing in every portion of the
State, should bear an equal share of the public
burthens, and the citizens of the counties who
have hitherto paid the State tax, demand at
your hands such legislation as will insure the
payment of the tax in every part of the State.
The difficulties which are supposed to surround
this question are imaginary, for speak with
entire confidence in saying, that large ma
jority Of the people in those counties in which
the taxes have not been paid, are equally de-
sirous with the residue of the State to pay
their quota of the public indebtedness, and
that the apparent delinquency of those coun-
ties is to be attributed to the fact, that hither-
to the State has had no collector in those coun-
ties TO whom the tax could be paid.
In view then of the fact that in some of the
counties no collector has qualified to whom the
tax could be paid, and in view of the opPres-
sion which might be consequent upon the coer-
Give payment of the entire taxes now due, the
people of the so called delinquent counties are
entitled TO the indulgent consideration of the
legislature.
If bill were framed autho-sing the ap-
pointment by the Executive or the Treasurer
of collector for each Of those counties with
out regard to residence) and empowering such
collector to receive for the taxes of 1871, q
and %, the notes of the tax payers, bearing in
terest and payable at such time as the legsla-
ture might designate, have every confidence
that an efficient collector could be obtained,
and that the law would be cheeIfully complied
with By providing in the law that copies of
the notes go taken should be recorded in the
clerk office and be lien upon the real and
personal estate of the drawer, with authority
in every case where the note is not paid at ma
turity, to the clerk, to issue execution upon
the note as if a judgment had been regularly
entered upon it, l have entire confidence in
that all the notes would be paid at maturity.
For those who would refuse TO comply with
the provisions of such law, by either paying
in money or by notes as required, no public
sympathy would be felt, and the law should