The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-02-14
The New York Market.

ANo 0'e"iiieA Aolihessee aTIiNeu Ut mo Jalelfo
December DIST.
Tax ON Capital,
We must confess that we are surprised =, III,
opinions advanced by a morning paper of vester
day. in relation to the recent law of the State which
has been enacted to obviate difficulty arising from
a recent decision of the Supreme Court.
The law providing for a revenue for tho .n,nor
of the Government Of the STATE ,nnroved me- .
1S47, specifies in the first article the objects Of
alton. in which are classed stocl IF aver,, Ind
ital EMPLOYED in any kind of trade or traffic bstba
owned here or elsewhere if emploved hare Tn
law of 1S47 provides that no species of nronert =,
any kind shall be taxed more than any other spece,
of equal value, ETC.
Now it is notorious that a vast amount of capits
is employed in the transaction of various co,n,
mercaI affairs in this city, which paws no tax fo,
the support of the State. Agaip the lav of 1Sts
makes it obligatory ON the Municinal Courcils >,
lew their taxes according 10 the rolls of tho State
| Assessors. We have then befora ma ,brse f,ot.
fixed by the sovereign power. the T,ogisl,tura vi,
LIST. That all capitai. of every Find ,ybotbo,
owned here or abroad, if emploved here shall he
taxed.
I'd. That taxes shall be uniform on every, Kind 81
".
Sd. That the Mupioipalities must lew Thai,
taxes on tbe assessment made h, tbo All, an,na
rized nartes under tho laws Of ,ba sta,o
1 We might then without ,rv .ro,,n,or,t I0,,,. g.,
the oon,1,o,, se,,ss Of o,,r rn,5o-S H.
whether the recent act of the legislature ia not i;
strict accordance With ,bo 80, &C ~. n.
ment, and the obvious intent of the law of 1917 ,d
| the amendments thereof in 1882
There is. however one oonsiJara,;o, to Lo
noticed and which vye tbin an, -;
dent citizens may have NOT dnlv considered CO.,
plants are continually made Of the or,os,i,,o a.
alton to which our citizens ave .rbioot0J. -
altbougb il has be.r t;n,o .rd ,;r,o
that the fay here ia lac. tb.n o,ha~
c,v Of the Ur;or oil ,tir,,n oo-iI,r.J e.
the present vear when ,s,,so. l,,,o,J a., oa,.,l
Of ,nv bu,n.n ,,,,,,or -, u,oa.I
an additional bnrbsn ain III or,, or -
tazotio,, ;s made 10 r;n,, d,il h o,,, ~
those who ,Lo,,l5 II tba, a. ~ -, 49,
zealousl, sr,,osd in ,er.n.di',, ,ba o;,;aa, =,
New Orleans that thew are the worst t,ved r.orIa
under heaven. Now ismanifes, that accorJin., 70
the amount on which n tar is N he Iaid for tho s
mort of any Government whether NunicinaI STATE
or General so will he the rar cer,,,,e q, ,roror-
tion-then propertv of tyentv millions must nav,
double the tax which a nronertv Of fortv million,
would REQUIRE If then the law which ,eorires tls,
all capital of every kind sbould hear II, nronort;or
of the eynense Of ctovsrrn,ort o,,aad i En-,
that the propertv that is taxed must mako nm for
the difference. Consequently the borest ,r,dor
who makes New ORLEANS bis bore ,rd b., tla
candor and love of Justice to make an homes, state.
ment of his affairs: the holder of real estate or
the hard working mechanic. or dravmap. whose
possessions are risBLe and tangi5ze, are made to
pay increased share of the public expenses, be.
cause capital not visible, and employedn cotton
speculaons or in exchange, is Intentionally or un-
intentionally exempted from its proper proportion
thereof That such is the fact, no one can deny.
and honestly believe that if the true intent and
spirit of the law could be carried out the necessary
rate of ordinary taxation would not exceed three.
fourths of | per cent. Der annum.
1t is not then the men of small means who sboulJ
oppose the law, On the contrary they sbopId f;r
their oWR sake and interest, aid in carrying the
law into full effect for thereby they will lessen the
proportion which they have to contribute to the
support of the Government, and at the same time
aid in carrying forward those measures of public
improvement by which they will be benefited
1t is unnecessary for us to say any thing of the
legality of the recent act of the Legislature tits
obviously in accordance with the intentions of the
act of lS47 and would surely be sustained II, ann,
court Oh eq"tty'
" hateVer may be the differences OF opinion on
other questions OF local interest, we think there
can be but one opinion among our mechanics and
men Of small means, as to the Propriety OF taxing
the wealth OF the capitalists employed here only in
making money by SpocHiattonS in cotton, in the
shaving of paper. .-
WN. C. BRyaNr--I, SViIl h. orariT,,ino 10 ,bs
admirers of this eminent post 10 know tfst he il
about TO publish n volume of /" Simmer TraveIs in
The Nav Wnrld and OLD, Tba Mi..a, !.
we'll known that Mr.. Bryant has been in the habit
of passing his summer months in excursions, and
that he has in different years visited the praires of
the West, the savannas of the South, the West In