The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1854-01-16

lhe amount Tor 1894 is partly estimated, &,
but will not vary much from the actual re-
suit . .s.
The valuation last had, brings much prop
erty which had hitherto escaped, upon the
tax list. 1t also approaches, as near as is
possible under any system, to the real value
Of the property. With very few EXCEPTIONS
therefore, the rule of equality of burdens may
be deemed as permanently established In
Ohio
The Banks acting under charters from the
General Assembly, form the only formidable
exception to the acquiescence in this just
and equitable rule. They have appealed
from the State authorities to the Courts of
the United States, In consequence of which
have been under the necessity of engaging
counsel to represent the interests of the State
before that tribunal
An arraignment of State sovereignty, un-
der our peculiar form of Government, before
the Federal Judiciary, is always matter of
doubtful expediency 1t should certainly
never be resorted to by institutions of our
own creation, upon which the State has
conferred large and valuable privileges, and
from which she now exacts nothing but
their fair and equal proportion of the bur-
dens of government.
A similar course was formerly pursued by
an institution established in our midst by
Federal authority. and which, therefore, in
Stinctively looked to Federal protection and
support. The Bank of the United States, it
is true, was partially successful at Washing
tin, but where is it now? The people have
advanced with unprecedented rapidity in
all the elements of prosperity and greatness,
while not one trace or vestige Of that proud
institution is to be found within our bor-
ders. On the part of the State Banks this
course is the more reprehensible, as the ap
peal is made by foreign stockholders, upon
whom the State has bestowed rights of an
exclusive and highly lucrative character.
They, too, complain of high taxes. have
already remarked with some freedom on this
subject, and it is gratifying to find that these
Institutions, inpelled probably by their own
interest, are beginning to unite with the
great body of the taxpayers of the State, in
Iaborlng to promote greater degree of econ
omy in all public expenditures.
1t is incorrect to suppose that the original
policy of taxing Banks on their profits only,
was adopted with any view of taxing them
less than individuals. On the contrary, It'll
was claimed to be higher grade of State
taxation and the Banks often boasted that
prior to 1916 they paid more than individu-
ais 'e
The growing magnitude of State-especi-
ally of local-taxation, however, led the
people TO demand that these institutions,
should, equally with themselves, be brought
within its range. Hence arises the present
conflict.
The higher grade of State taxation placed
III the charters became in the course of time
lower one, even for State purposes, to say
nothing about the local and many other
burdens which are necessarily borne by in
dividualS. An effort was made in 1916, at
a time when the whole basis of the revenue
laws was changed, and when the inequality
referred to became clearly apparent, to sub
lect the Banks, not as formerly to higher
and special rate of taxation. but to the same
that was prescribed for and imposed on in
dtvlduals. This effort, so fair and equitable
at the time, was successfully resisted. 1t
continued however to be insisted upon, and
the provision Ipon that subject in the new
Constitution, has been the result This pro-
vision relieves the Banks from the payment
If the rates contained in their charters, and
which they alleged were so much greater
than those paid under the general revenue
laws of the State, and only requires that "all
property employed in banking. shall always
bear burden of taxation equal to that i'm
posed on the property of individuals" This
burden ic noxV hearr hut n conctantl,, -, ,