Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1854-01-12

'''a - a.Hte 81 Total
a estate ''' ''"" : :. S..,:,.. f,,ot
I~+i 10 81 car = ~ -sIUT I95 95ls,T
80 Ss4 39s co. - s5i7fiT Tt35i7i7I
- . COG ee4 q. f'o or 4 s1p onouoJ
The amo unl for 1854 is pa.tly,estima,ed.
bu, will not vary much frcrr he sc'usl resul'..
The valuation last had. rings much prop
erfv which has heretnloIe e,etpcd, apo. l., Q
tax list /. also app oaches. ~ near - is pos
sble under any system, 10 the value OF the
properly With very few s1ce ption., there.
fole, the rule of equqlity Of bu rdens NAV be
deemed rs Tcrartnilt esiahIish.d in Ohio
The Banks. bring under Charters from the
General Assembly form IAe only formidable ex-
ceptian 10 ne geHersl arqHirscence in this Just
and equisable rule. They have app al,dfrpm The
State authorities to lEe Court of the Uniie,
States in ccrsequtrce of which have beel
under the n.cessity of engaging counsel to rep
resent the interests of the State before TIA.
tribunal
An aragnment Df State Sow ereigniy, unde.
our p~cnliar form Of Government. before tn,
Federal Judiciary. is always matter Of doub'
fu sGp.drncy Il should certainly never /,
res0r,ed 70 bv institutions Of our own creation.
upon which the State has conferred large an
valuable privileges and rom which she nov
exacts not inT but their fair and equal proper.
ton OF the burdens Of Government
similar course WAS formerly pursued by a
insti,ation eslab ed in our midst BY FEEDER
al authorities, end wh ch therefore, instructive.
" looked to Federal pro.ec;icn and support
The Bank ofthe Cu.el States, it Is true. was
par'isiy surrsssful ~ WASHINGTON. but where
is il now? The people have advanced with un-
'preeedeued rapidty in all the elements of
prosperity. aad greatness, while not one trace
or vestsge Of the proud Institution is TO be
found within our borders. On the part OF the
state Banks this course is the more reprehen-
si5e as he appeal is made By foreign stock
holders upon whom the State has bestowed
rights ofan inclusive and highly lucrative char
acter
They too, complain of high tsxes have
already remarked with some freedom on this
subject. and it is gratifying to find thai these
lnstiIulions, impelled probably BY their own in
tprests. are beginning to mite With the great
body of the tax payers Of the State, in laboring
to promote greater degree ofeccnony ia all
pub ic expenditures.
l: is incorrect TO suppose that the original
policy Of taxing BaEks on their profits only.
was adopted with any view of taxing them less
than individuals On the contrary. it was
claimed t, be higher grade Of State taxation:
and the Banks often hoas,td that prior to 1896
they p.itmo than individuals.
The growing magnitude of State.-especial-
II, Of local taxation however. led the people
to demand that these institutions should, equal
ly with themselves, be brought within its
range. Hence ARISES the present conflict
The higher grade of the State taxation pla-
ced in the charter became. in the course of
time, lower one even for State purposes To
say nothing about the local and manv other
burdens which are necessarily borne by ind.
viduas An effort was made in 1916, alta
time when the whole basis of the revenue lava
was changed, and when the equality refrrred
to became clearly apparent 10 subject the
Banks, not as formerly TO higher and special
rate OF taxation. but to tie same that was pre-
seribed for and imposed on individuals This
effort, so fair and equitable at the tire, was
successfuIv resisted |. continued however,
TO be insisted on. and the provision upon that
subject in the New Con titution, has been the
result. This provision relieves the Banks
from the payment of The rates. contained in
their charters, and which they alleged were so
much greater thaa those paid under the gem
eral revenue laws of the State. and only 70.
quires. that call property employed in banking.
shall always bear burden of taxation. eqnxl
to that imposed on the property of individuals.
This burden is now heavy, bat constantly
increasing duplicate will in very few years.
greatly reduce it. The amount required To
meet the interest on the public debt is annual
" diminishing and the temporary causes that
now tend 10 keep up the taxes, will soon dis
appear. The Banks can therefore gain but
little bv perseverance in their present course,
while injury and inal luin may be the conse-
quence.
The duty of the General Assembly is plain
and unquestionable. The requirements Of the
Constitution must be carried ou'. In this de-
termination The people and every branch ofthe
Stte Government are uni.ed. and will sustain
ascn other bv the most cheerful cooperation.
The banks shoaId look beyond The legal
'So one should desire to lare among an indus-
rious and beavily taxed people. without hear-
ling fair and equal proportion Of thesnecessa-
| rY burdens Of he State.
The New consii;nicn made three Impor-
a.t chaa.. IN !. BE- Judicial department. refer
- N tie raarrer of tl.et:on Judges he Or