The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-05

Ny predecessor called The attention Of the
in has annual report OF last ysar the susct of the
taxation OF railways; ana some progress " understood
was made during the session In maturing bill to rega
late the mode and principle vi of Rs kind
the State and these composites multiplied thsy
ovsx the State and adding millions Of dollars
nstion OF our tsIsbs propery tnSt ne just and unit
form rule Of assessment should b. estassned and II 10
proper that the rule should be established by tho Lgs
laure all The rules Of IN respect to other pro-
perty have been frequent inquiries msda Of che
Comptroller in relation to the subs by in
various ortons Of tho Safe and also ~ the railroad
addressed to the Prsaent Of The Os1eso and syracuse
Railroad Company copy OF which Is hereto annexed,
marked N. rho rule OF taxation upon gss panies
paxk roads and telegraph lines IL aso unsettled and
ahouid b established BY law refer the Legislature to
the suggestions OF my predecessor thee subjects
Pages IL and IL OF his report Of last year.
The great and just end " laws Is to subject all
the real and personal property Vt The State to its opera
ton The amended system adopted in 1851 It is oe-
eQualizs the valuations according to stand
ard viz actual value Of real sstste, and ds
amount OF personal property. large amount Of oar
sonsl property however, escapes taxation and
change IN the Law Is necessary in order to reach it,
Banks are assessed fer their capital STOCK only What
they possess beyond their capital liked their charter
or articles OF cannot bs reached by tho
sors. thsy have surplus the earnings Of prosperous
business beyond their dividends used cYptxlits
In sot capital but cannot BE- assessed under the exciting
laws 1t IL known that many OF the banks In the
State have surplus In koms instances equal to their
capital, and great number to . large amount This
surplus should DO taxed against the bank and the
comptroller recommends an amendment OF tho law
to enable the put down part Of the
capital Of any bank it, reported sotuS surplus with
power to examine Its officers under oath - to the
amount.
He also recommends . further amendment by which
the collection OF the tax levied upon the capital OR
culaon Of certain banking Institutions in the state ap
Psrenty located In remote county but really and
practically In the city Of New York be enforced Ny
Predecessor in his annual report, denoninsted them
movable banks" and far the attempt to tax them
under existing laws Is erned they movsab o."
OF rather their cts partaks Of that character Their
ri th.ls
Of business in Wall street. Tho, TAXABLE only
the place where they appear TO trAnssot their bs-s
business when the collector calls with his warrant he
finds nothing Of the bank but respectable otzsn
who has consented to the Of his nsms PRESIDENT
but who has bills specie any other property Of
the ,astituton which be taken for the tax Tho evil
caR BIZ efectualy remeded BY provision authorizing
the Comptroller to give notice to the Superintendent: OF
the Bank Department Of the default Of payment Of the
tex In such and that he be required withhold the
amount Of tax from the interest payable any seeur
ties deposited with him by such Institution the basis
OF circulation.