The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1858-01-15

Il will be seen that tho taxable valu
alton Of tho States was greater in 1851
than in 1856. but less than in 1855
The difference was occasioned, in par
by ,he:eIemption from taxation OF the
excess Of credits over debts. by The act
Of April /, ls56,and in part by the rule
prescribed in the same law for ascer.
tsining the taxable property Of banks
and bankers. This rule requires two
statements; one OF the amount Of notes
and bills discounted, and all other prop.
erty and dues Of every description be.
longing to the bank; and another Of the
property employed in banking: and
provides that a rate shall bo charged
upon the property embraced in thefrsI
statement, which will produce the
amount which would be produced by
tie rate charged on the property Of in
dividuals. II levied upon the property
uaT ThkoEassa hsh hssPp hSsssPpottqqSnity Fund y-lot'WnM
drawing considerable amouu, oi prop
eny from its just proportion Of the pub
lie burdens. II is too clear forquestior n
that properly employed in banking
should be assessed equally with o,heI
property. The decision OF the Supreme
Court Of the State applies a satisfact tory
rule for sscertaining what this property
is. | repeat. therefore. my rscommen.
dation addressed to the last General
that the law be 90 amended
~ TO require all property employ ed in
banking 10 be embraced in one sched.
als and entered upon the duplicate for
taxation. at tho same rate as is imposed
On other property.
The foregoing schedules slso show
hat whilo the amount OF State taxes
las been steadily reduced during the
ast two years, tho amount OF county
md municipal taxes.lsrgeIy reduced in
1857 sad 1855. though not so largely
n 1857 from 1886.
Il 10 worthy Of consideration whether
ONE further Limitation upon the taxing
'ower Of county and municipal author
'ies may not be usefully imposed. II
espsetfully recommend also that pro.
ision be made by law for tho collec.
ion Of taxes semi.annually instead OF
nnually as at present. In that case
here need bs no accumulations ia the
tate or County Treasures. but the
money Of tho people will remain in
heir own hands ill actually wanted
Dr. public purposes.
The public debt OF tho State, OF all
escriPiions. ,pPears in the following
tstement:
The irreducible debt 10 composed of
he proceeds Of lands granted by Con.
ress for educational and religious pur.
'osss. which have from time 10 time
'esn paid over TO tho State and invest.
d in public improvements or ,thsrwiss, ;,
'ndsr . pledge OF faith that six per
'ent. upon the sums received shall be
annually appropriated TO tho objects OF
he several grants. As there yet 70.
Mains 4 considerable sum TO be derived
rom those sources. this iusducibls debt
must be gradually augmented. The
General Assembly has hsrstofore wise
y uVoSssu "oe 81 "ouoy muh tcCotts
ID shall he paid into the Sinking Fund.
10 be applied 10 the reduction Of the
forsign. and domestic debt; and there is|
40 probability tha. this policy will bs
changed.
Il "a 70 Do regretted that prior 10 The
sci Of April II, 1887. no provision was
n,ds Tor keeping the Sinking Fund
sspsfats from other monsy in the Trsss.
ufy OF effsctualIy securing i,s exclusive
application TO It's intended use; on the
contrary. the General Assembly had "a
several Instances directed transfers of
this Fund TO General Revenue, and thus
|'sqoirsd its sPplics,ioa 10 ordinary OF.
|tssdiissss. 10 my judsmsn, this prac.
|tisc 10 nfs 70 bs approved OF even iius.i
~. ssesP' in case oi absolute aces.
ls'y', lAiiH- tGpcA.E 13t gl ,af,t.
reeommsnd thst provision bs made
lcs ihs restore tea 70 The Sinking Fund
lol ths smountS Withdrawn from il. io|
iofdss mat ths entiss balance props,iv .
lbsionsisg y thSt fund psy b ssisiyl
,:ss...d s;s sad reserved W iisil.si.ia,sis|
Tha vx;S,~sl - A.. c..