Herald of the times. [volume] (Newport, R.I.) 1849-1856, 1849-02-08

others owning raeabe property therein, 10 be
col eccd and pa d into the General Treasury
on or before the first day Of January IN zach
and every year of which the sum of ten thou
sand dollars shall be annually appr p,laied TO
the support and encouragement OF public
schoo sand the further sum OF ten thousand
dollars to the payment Of the acknowledged
debt of the State, including the d bt due 1"
"thc deposit fund.-" so called, and the remain
der to such uses as the General Assembly
have directed or may hereafter direct.
Sec 2. When an estimate shall be made
of the property in said State, as provided in the
act passed at this session, entitled An Act
to provide for taking an estimate of all proper
ty rateable in this State" the General Trea-
surer shall, as soon as may be thereafter, ap-
portion the same among the several towns,
and issue his warrant directed to the Treasur-
ers of the several towns requiring of them to
levy, collect and pay unto him the several
sums required to lie paid by their respective
towns.
| Sec g. The town or towns which shall
not pay their proportion of said tax within the
time limited for the payment thereof as atore-
said, shall pay interest for the sun in which
they shall be deficient, until the same be paid ::
ani the delinquent town or towns shall be re-
sponsibe therefor to the General Treasurer -
The Collectors of taxes n the several tow ms
are heieby empowered and directed to collect
the interest with the principal, from the ind-
vlduals, after the aforesaid time and IN case
any execution shall be issued by the General
Treasurer against the Treasurer OF any deln-
auent town, the Collectors are hereby empow-
cred and directed to collect from the inlitldual
delinquents, all the costs and expenses which
shall accrue thereon, in proportion to he
sums due from such deinquents respectively
Sec. A. The Assessors shall assess and
appor,on said tax, and return true list of the
same unto the Clerk of the town To which
they respectively belong on or before the first
day of July next, who is hereby required TO
send copy thereof within twelve days fiom
his receiving the same, to the General Trea-
surer the General Treasurer is hereby di-
rected and required to issue his warrant within
ten days, to the several Collectors of Taxes, in
the several towns, requiring them in the pame
Of the State, to levy, collect, and pay to the
General Treasurer, the several sums respec-
lively committed TO them TO Collect and the
several collectors are hereby directed and re-
quired 10 use all diligence in collecting and
paying the same into the General Treasury,
before or at the time limited in the act.
Sec. S. Each town shall pay all the charges
and fees that shall accrue upon assessing, levy
ing and collecting its portion Of the aforesaid
tax, and if any town shall neglect or refuse to
assess, levy, and pay into the General Trea-
sury, within the time directed in this ac Its por-
ton of said tax, the General Treasurer Is
author zci ald directed To issue his warrant
or execution against the Town Treasurer OF
such town, or TO call a special Court upon the
said Town Treasurer, for such towns proper
ton or deficiency Of said tax.
\ Sec. G. The Town Treasurer ofeach town
is authorized and empowered, to prosecute the
bond Of security that shall be by him taken
from the Collectors of said tax to special
Court of Common rleas, in the county where
such security OF bond sha II be so taken which
said Court of Common Pleas shall have the
same powers that special Courts now have by
law and lhe judgment VI said Court shall be
final
Soc. I. The Clerks of the several towns
are hereby required to send the names OF the
Town Treasures and Collectors of Taxes Of
their respective towns to the General Treasur-
er, at the same time they siall send copy OF
the tax list.
Sec. 8. Any town may, at any tine before
the time limited for the payment, pay such
towns proportion Of said tax into the General
/ Treasury, out of the Town Treasury of such
town, and include the same if necessary in
any future town tax ordered by such town in
such case no assessment of said towns proper
tion of said State tax need be made by the as
ses ,ors Of such town.
\ Sec. 0. Every bank in this State shall
hereafter annually pay to the General Irea,
surcr the sum of thirty cents on each and
every hundred dollars of its capital stock ac-
tually paid in, instead of The sum of twenty
| five cents on every hundred dollars of such
capital stock as is now by law provided; one
half part thereof on the first NJ nday in June
and the ohcr half part thereof on the first
Monday in December.
II Sc, 10. All acts and parts Of acts so far
as the same are inconsistent herewith are here
by repealed.
About the year 1923 the Legisl dure mpos
ed tax of 8 per cent. on bank capital. AT
terwards an act was passed giving the General
| Assembly power TO repea or alter the charter
of the banks. The Providence Bank resisted
the payment of this tax. Process was issued
a,anst the bank, and the question was carried
up TO Washington and decided in favor Of the
| State. The State, therefore, has always
claimed right to impose tax, and the banks
! have paid this tax OF l-S and Ia of one per
cent. The decision in the case of the Provi-
dence Bank, though differently interpreted, he
considered to be only that the State has the
! power to impose tax upon bank property,
real or personal, in the same way as upon all
other property. To impose specific tax
in the nature of an excise tax, as proposed in
this section, he deemed to be unconstitutional
Mr.. &. proceeded at much length in an ar.
gument showing the unconsttutionality of the
sect on under discussion. lie cited Angel
and Ames on Corporations, and read the crit
icism therein contained on the decision of the
/ Supreme Court Of the United States in the
case of the Providence Bank Mr. c. also
cited in support Of the position assumed by
him, the case of the Portland Bank VS.. Ap-
thorp, l2 Mass 252. and commented upon
the analogy existing between the provision Of
the constitution OF Massachusetts, which wa.
adjulicated upon in the above case, and ,ha,
contained in the present constitution of Rhode
II Island.