The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1860-01-11


The value of that description OF property, as
equalized, wss 1924. 405 8O4.
The Gtsnd List of ls47, embracing this
equalized valuation, the spring valuatiOn of
personal property qmouHting 10 $50, 1864, ,430,
and the other usual spring valuations, ex.
hbited an aggregate Of $4l0.763 100. The
increase in six years had been almost in.
credible. 1t was 1881 .4O9, ,503.
Before the time for the second valuation
under the act OF l846 had arrived, q new
Constitution had been adopted. The prn.
cple Of that act, extended in its application n
to all property whatever, with some specific
exemptions, was now incorporated into the
fundamental law and the first Generae As.
semby under the New Constitution, provid-
ed for q general valuation and equalization
of real property in 1853, and every sixth year
thereafter. In pursuance of this act, the
fifth general valuation took place and was
equazed in 1853. The aggregate of the
equazed valuation was S558, 1875 542. The
personal property listed the following spring
was valued at $297, ,06l ,572. The grand list
for 1854, including with these values those OF
the lands and new improvements listed in
the spring. was 1886, ,923 9S3. The increase
in seven years had been again startling. 1t
was $456, ,l66 822.
The appraised, now more closely approach
ed the real value, and no such apparently
rapid augmentation of the list could be in fu-
ture expected.
The sixth valuation took place during the
past year, under an act of the last Genersl
Assembly. and its equalization is not yet
completed. According to the returns made
by the County Auditors, under the act OF
April last, the. aggregate number of acres
taxed is 25.3l4280, the average value Of
each acre, SIT 4S, and the total value of the
whole real property $64l,9l8 l5l. The
lists Of personal property included in the
spring valuations, ore not yet made. Should
they show an increase during the year pro-
portioned to that of the real property during
six years, the amount will not be less than
$257 100000; end the general aggregate,
assuming that the total valuation of real
property will not be reduced by equalization,
will be about 5000 100000. The increase
for SIX years will be about $33 900 900.
The Grand List of 1860 will doubtless
show, with reasonable accuracy, the true
amount OF taxabe property in the State.-
Returns OF tx'mpt property from all the
counties, except Hamilton and FAyrtte, ex.
hibit an aggregate OF 80 570,S5S. These
returns are doubtless imperfect. The real
omouat or this description OF property, in all
the counties, including chalteIs, does not,
probably, ia II much short OF $50, 900 .OOG.-
The COMMISSIONER of Statistics, busins his
opinion on reports OF actual soles, estimates
the entire property in the Site at 81 .O50i-
0Q0,uD0.
The population Of he State is now about
two millions and half. Such population,
grown up from the twenty five thousand of
sixty years ago, educuted, energetic and in
derrtgab!e, and possessed of such mass OF
means, created by the skill aud industry Of
two generations, presents striking picture
Of progress and power.
venture to suggest the cXpedit ncy OF di.
recting the general valuations ofreal estate,
after the next, to be made once in five years;
so that the results obtained under State au
thority, may be easily compared with those
obtained under Federal in the census years; /;
while those obtained by the general valua-
ton in the intermediate years, and the an
nual estimates, will supply the means of de-
termining the rate of growth end progress
each year during the interval between these
years.
The amount of dt bis OF whatever descrip
ton, State, corporate, commercial and every
other, is now estimsted at $24O, coo 90 but
of these not less, prob bly,. than one third,
would be cancelled by payment of other debts
embraced in the same aggregate. The whole
existing debt, constituting real charge up"
on the whole existing property, hardly, if at
all, exceeds $3.50 900 600; about one sixth
of it's value. II this sum be compared, not
merely with the entire property, but with the
entire products OF the State, which according
10 my estimate in 1858, amounted in 1887 to
1851 867 500 and doubtless exceeded that
sum IN 1868, or with the probable net pro.
ducts after deducting the consumption. di-
rect or indirect, OF the people, the gratitica.
ton afforded by the spectacle oi our general
prosperity, will not be sensibly obated.
While this review of the progre ssiye de
velopment Of our revenue system and OF our
material resources, must necessarily inspire
just confidence in the physical energies ant
financial strength of our great Common
wealth, it will also serve, trust, the hum
bier purpose of contributing to clearer un
dcrstaDding of the relations of taxation ant
disburse Rept to means OF contribution, art
Of the necessity Of carefully observing thes'
relations in levies and appropriations.
The fundamental principle OF our revenue
system, that all property not exempted uPoi
overruling considerations of policy, shal
contribute to necessary public expenses il
lust proportion to value, is now firmly estab
ljshed in the convictions Of the people, an
nothing is more certain than that they viii
insist on it's uniform and universal applica
ton. II there be any description of propert
which has hitherto escaped just contribution
the Legislature representing the people vii
not hesitate TO subject it to the operation @
the general principle.
1t is a great merit OF the system that it
easily understood, and that the result of an
given rate of assessment cannot MATERIAL
deceive expectation. AS Grand List sur
plies the basis of revenue, and as the neces
sury means TO meet ell State, county an
municipal expenses are provided by assess
ments for State purposes on the entire liz
and for local purposes on the property iste
within the respective localities, legislativ
adjustment of leyies 10 the public needs, an
OF appropriations to leyies can never be diff
cult. The rates of levy being fixed, the rev
enue for the years intervening between gen
eral valuations can always be predicted wit
reasona BILE certainty. The equal,zed valus
ton is the permanent, and the annual valua
titns are the variable elements OF the Gran
List. The equalized valuation once mad
remains unchanged till the next valuatio
| year. The 6rst Grand List after equalizu
ton exhibits the aggregate subject 10 cor
,ribution and the Grand Lists Of subsequen
II uaa.a until n nau uaInalion. will of cnnrse