The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1845-05-10
TIED BY J. r. MORRIS.
THE TAX LAW AGAIN.

The readers attention is again called to few
further thoughts in relation TO the tax law of last
winter. We remarked ia our paper of the Goth
nlt., and we again repeat it, that no two lawyers
however experienced, can agree upon the same
construction Of the present tax law. Such being
the case, our readeas are no doubt fnyous to
know the construction that will be put upon it, :
BY the fourteenth section of the law it is made the
duty of the Auditor of State to furnish the county
Auditors with 'sall necessary Instructions for car
rying the same into uniform effect throughout the
State " Wepresume therefore that we are bound
by the construction put upon the law by the Audi
tor OF Safe. If so, it is proper that we should
inquire what is his construction, so far it affects
the people of this county, In order to arrive at
this matter take the follow ing extracts from the
Auditor of States additional instruct tions:"
"Notes for personal property sold, which were
bona fda payable within six months, are not TO be
included after the expiration of six months, in the
statement of money at interest required to be made
out and delivered to the assessor Notes which
do not bear interest, and upon which no interest,
premium, or consideration for delay, or giving
time. has been taken, reserved or agreed upon, and
which remain in the hands of the original party to
whom they were given, are not to be included in
the statement. But if interest, or any premium
or consideration for giving time, is included in the
note, or is in any way to be paid thereon, it would
be money at interest, within the meaning of the
statute.
Notes bought, acquired, or purchased, at any
rate of discount, are 10 he included III the state
ment OF money at interest If they bear interest,
they come within the first clause of the third sec
ton. If they do not bear interest, they are inclu-
ded in the second clause"
''The stocks, treasury notes, or certificates of
debt Of the United States, or of any other State,
which bear interest, and are held by citizens of
Ohio, taxable. No such reasons exist for their
exemption apply to our own State bonds. Mo-
ney deposited with any company or individual
upon interest," the scrip or bonds Of tOrnS and
cit,es county mders, judgments and DEGREES against
turnpike companies, or other evidences OF debt,
which bear interest are included in the act and
are to be returned to the assessor as money at in-
terest
"Book accounts, for goods or other property
sold, or for personal services, for work perform
ed, upon which interest is Lot charged, are not to
be included in the statement of money at interest
Book accounts, for goods or other property sold,
which are payable within six months, are not to be
included in the statement of money at interest,
even though they are upon interest.
''Book &C counts Tor goods or other property sold,
which have been closed, or where credit was orig
inally given, by agreement, for more than six
months, upon which interest is charged or payable,
are to be included in the statement OF money at
interest. Book accounts for personal serrictS, or
for UO,k performed, upon which interest is charg-
ed, are to be included in the statement, and return
ed as money at interest"
GA merchant is not required to invoice his goods
in order TO make out correct statement The law
says that the merchant or trader, sin making out
the statement of the amount of ca i;a employed,
shall take as the criterion of such amount, the
medium sum between the greatest and smallest
amount of goods or personal property appertaining
TO such business, in the possession OF such person,
company or firm during the year previous to the
time Of making out such statement" merchant
when he makes his new purchases knows by his
bills of purchase the amount of his new goods, and
he knows by the invoice which he generally makes
of bis old goods the amount Of his old stock. -
Thus, suppose the old stock to be 81 600, which
would he the least amount, aid the new goods to
be So, 900, this would make the greatest amount
S5 900; the medium between these would be
$500, which is the sum to be returned TO the
assessor; and 81 $50, being one half the amount
returned would be entered on the duplicate by the
auditor Tor taxation.
"Merchants, who have sold their stock of goods
and have quit the business are not to be taxed for
the capital which they have withdrawn The
goods would be taxable in the hands of the pur-
chaser. If notes were taken for the goods, paya-
bic more than SIX months after date of sale, with
interest, the notes must be returned as money at
interest by the holder" -.
"The capital employed by drawers. and persons
engaged in the business of buying and selling
horses, cattle, hogs and sheep, which not pur-
chased to be fed or improved in value by the pur-
chaser, but merely to be soll again, in the same
condition in which they were purchased, is capital
in trade, within the meaning of the first clause of
the 4th section. The medium amount of such
property possession of the trader during the year,
which has not been listed for taxation, is to be
returned by him to the assessor. If not returned
as capital in trade, the horses and cattle should be
listed by the assessor, the horses at $40 each, and
the cattle at s each, and returned as other horses
and cattle. If returned by the assessor as capital
in trade only half the amount will be placed on
the duplicate for taxation. Lire hogs, beet cdtth
and sheep, purchased 10 be slaughtered the duy-
ey himself, are not tarabie as capital an hade.
1.-The capital employed in the business of pur-
chasing and selling wheat, corn, pork, wool. or
other personal property, for the purpose Of making
profit thereby, is taxable; and such property own
ed or in the possession of persons engaged in such
business, must be included in their statement; and
assessors should be careful to give the proper no.
tice to all persons engaged in such business, and
TO require from them statement under oath. If
the owner, or person having the property in pos
session, refuses to make the statement under oath
the assessor must ascertain the amount from the
hest evidence he can obtain, as prescribed IN the
9Th section.
"a merchant, manufacturer, or trader, cannot
deduct the amount Of debts which lie owes from
the amount Of his goods or stock This would
give the person who does business upon credit, an
advantage over the individual who employs his
own capital. The farmer must pay the tax upon
his farm whether he has payed for it or not or
whether it is mortgaged even to its full value
The tax is levied upon the property. So with the
merchant; the intention of the law is to assess o
tax upon the goods which he has in possession,
without regard to his debts"