The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1852-04-22
Gbt Gantastsr Ga,cttc.
CITY OF LANCASTER.
Thursday morn,nE, ApriI ~, 1852
THr rAx LAW.


able property has rendered obsolete the old sar,
"as long as the moral law" aud we bid fair ia
follow the example Moral codes are shortened
and tax laws elongated 10 an immnderate length
We accordingly mike an abstract Of the late law
as we think this will be more acceptable to our
readers Should any one desire it in fail they can
consult the "by.outhority" organs. for though the
Wings OF this county pny at least onehnlf the
taxes, III decreed by those in authority that sn
FAR as public action is concerned, they have no
right 10 read the laws of the State in their own
paper. We think, at the same time. tint n fair
abstract will be more generally read and at the
tame time will not crowd other matter of impor
tance out OF our column.
Section lst provides. that all property. whether
real or persona IN this State all moneys. credits
investment in bonds stoo ks. joint stock cumpanies
or otherwise. OF persons residing therein the
property OF corporations now existing or hereafter
created. and the property oi all banks or banking
companies now existing or hereafter created
and all balkers except such 8s is hereinafter ex-
Pressly exempted, shall he subject to tnxnlion
and such property. moneys, credits. iuves imrnis
in bonds, stocks joint stock cumpanies or other.
list oi taxable prop"rly. for that pu pose, in the
manner prescribed by this net.
Section I'd provides, that every tangible thing
being the subject OF ownership whether animate
or lnan'mate, other than money. aud not forming
part ofany parcel Of real property as lerenbeE,rp
defined. shall be included in the term .persona
property"
nll land houses and personal property held by
colleges. schools charitable institutions the State
codntes townships, towns and cities. not used
with view 10 profit, are exempted; and each
individual is allowed TO exempt two hundred
dollars worth OF personal propertJ of any Le
scription. and no more; nor iS any one required
to list for taxation any stock that he may hold in
Incorporated companies in this State which is
required TO be listed by the officers of said com.
pany.
We notice that the State Auditor, in his nstruc.
tiOns, exempt' tue wearing apparel aud some
other articles, but as we read the law no more
than 5000 worth Of personal property is exempt.
3D. and this can be kept from the list. no matter
what kind Of property may be owned We
merely call attention Ia this discrepancy
Noperson is required to list greater amou OF
credits than he suppuses can he collected The
statement which each person is required to make
out and deliver to the Assessor shall distinctly set
forth
First, the number Of horses and the value there
of.
Second. the number Of neat cattle, and the val
no thereof
bird, the number Of mules and uses, and tile
value thereof
Fourth, tho number Of sheep aud The value
thereof.
Fifth the number of hogs and the value thereof
Sixth. every pleasure carriage, of whatever
kind. and the value thereof.
Provided, that II such person shall exhibit to
tho assessor. the animals or other articles of per
spnal property. above enumerated the value Of
such property, 50 exhibited, shall be determined
by tho assessor
And such person shall further make tn the asses
sor. statement ofevery gold ur silver witch and
tile value thereof
Every piano inrtr. and the vaine thereof
The value Of the goods aud merchandze which
such person sregulred To list US II banker broker
or sork j,bber
The value of the materials mud manufactured
articles. which such person is required to list as
manufacturer.
The value Of moneys and credits, required IN he
listed, including all book accounts
The value oi the moneys invested in bonds.
s"rks jrint stock companies or otherwise. winch
sicu person is. by this act required l., list
The total value of AL other articles of personal
property, which such pers"li is. by this act, re.
quired tu list.
When there is no property Of this kind 10 he
returned the person is required to make au oath
to that effect; aud in cases where persons refuse
10 swear to the statement, fifty per cent is added.
All property is to be valued at its usual selling
price. in other words at its cash value Invest
ments in bonds stocks. joint Companies. or other.
wise shall he valued at the true value thereof, in
money. Money, whether in possession or On de
posite, shall lie entered in the statement at the full
amount ,herenf; Provided that deprecated bank
notes shall be entered at their current value. Ev
cry credit for a sum certain payable either in
money. property Of any kind, nbur or services.
shall be valued at the full price of the sum so
PayabeI if for specific article, or for n specified
number or quantity of any article or articles Of
property, or for a certain amount Of labor. or for
services Of any kind, it shall be valued at the cur.
rent price OF such property. OF Of suciI labor or
service,at the place where payable Annuilies or
inoueys receivable at stated periods, shall be val.
tied at the prizes which the person listing the
same believes them to be worth In money
Section 10 provdes t at In making up the
amount oI moneys and credits which any person
is sreqnired 10 list for himself or any other person
company or corporation, shall be entitled 10 de
duct from the gross amount Of moneys and credits
the amount Of oil bona hde debts owing by such
person, company or corporation, 10 any nher per
son, company or corpol alton, for consideration
received; bnt no acknowledgment of indebted
ness. not founded on actual consideration, be
lieved when received to have been adequate. and
n0 such acknowled gment nude for the purpose o
being so deducted shall be considereda II deh
within The meaning of this section; aud so mncl
only ofany liability. us surety for others. shall he
deducted as the person making out the statement
believes The surety is legally nnh equitably bound
topayand SO much only.as he believes such surety
will be compelled to pay on account of the inabii
ty or insolvency Of the principal debtor; and !
there are other sureries who are able TO contrib
ute. then only so much as the surety in whose be
half the statement is made will be bound to con
tribute; Provided, that nothing in this section shal
be so construed as n apply To any bank. co,npur,
or corporation exercising banking powers u
privileges