The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-01-08

In relation to the law commonly called the CreW
law which taxes the capital Of the banks Of the tae.
the Governor says:
It is incorrect to suppose that the origina soHSy
Of taxing banks on their profits only, was dptez
with any view Of taxing them less than inds Gals.
On the contrary 1t was claimed TO be higher yrsdd
prior to 1916 they paid more than individuals
The growing magnitude OF State-especisly Of 10
cal-taxaton, however, led the people TO a. rnand
that these isttutons should equally with thens selves,
be brought within its range. Hence arises the pre-
sent conflict.
The higher grade of State taxation, placed il tha
charters became, in the course Of tine, lower ona
even for State purposes, to say nothing about the
borne by individuals. An effort was made in 1886
at time when the whole b. Sis Of the revenue lava
was changed, and when the inequality referred
to became clearly apparent, to subject the banks,
not as formerly, to a higher and special rate Of
taxation, but to the same that was prescribed
for and imposed on individuals. This effort,
SO fair and equitable at the time, was sue cess.
fully resisted 1t continued however, 70 be insisted
upon, and the provision upon that subject In the new
constitution has been the result. This provision re-
ieves the banks from the payment Of the rates cen.
tanned in their charters, and which they alleged we're
so much greater than those paid under the general
revenue laws of the State, and only requires thai AN
property employed in banking, shall always bear
burden Of taxation equal to that imposed the pro.
perry Of individuals" This burden ID now heavy,
but constantly increasing duplicate will in very
to meet the interest on the public debt is annually
diminishing, and the temporary causes that tend
to keep ap the taxes will disappear The banka
can therefore gain but little by perseveran q in
their present course, while injury and final ruin may
be the consequence.
The duty OF the General Assembly is plain aud nm:
questionable. The requirements of the const ltion
must be carried out In this determination the peo-
pie. and every branch of the State government ara
united and will sustain each other by the most cheer
full cooperation. The banks should look beyoni the
legal issue. No one should desire to live among
an industrious and heavily taxed people, without
bearing fair and equal proportion Of the necessary
burdens OF the State.
The government lands in the State, the Go er1or
thinks, ought at once to be surrendered to the state
The reduction of the price of our canal lands has
increased the number of acres upon the grand du-
pcate, and contributed largely 70 the settemsn mt Of
one OF the most promising regions of the State.
The area OF the whole State contains %, s. 20, 900
acres, of which there will be brought on the grand
duplicate, for the ensuing year 24,Sll ASS acres,
leaving balance Of 765 500 aores the greater part
Of which still belongs to the general government.
The United States continues TO demand the former
prices Of from 81 rs to 50 so per acre, Whine the
State sells her lands In the vicinity at greatly
reduced rates. This necessarily retards the settle.
ment Of these lands and proves very serious neon
venence to the people in that section Of the stare.
The general government should at once SUR ndec
the remainder Of It's lands to the State so thai hey
may go into the hands Of actual settlers 81 graduated
prizes, 0nC De DIOuBut Win al Inc 0tner ltDG5 .
the State, on the grand duplicate.
This would be more than just. The whole t,uan-
tty Of land at first held BY the general government
in this State, as appears from the actual surveys,
was l6770,9s4 acres. The proceeds already realized
by the national treasury amount to nearly s2 900 900,
which is an average OF more than 81 rs per acre for
the entire quantity.
/ deem the present an appropriate and fave able
time to press this matter upon the confederation Of
Of the general government since the ey settle nent
OF the public domain is the avowed policy Of tno pre-
sent administration.
The affairs d the general government receive very
little attention and the Governor closes his ue sage
with the following remarks g
Our federal relaiions-beth at home and abroad
have been conducted, during the past year, With
signal ability and success.
The principles and policy announced in tn inau.
gural address and message Of the chief magistrate Of
the Union reflect the sentiments and opinions Of the
high interests Of our country will be fully ami ssyu
pulously maintained.