New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-01-16

sevrsl towns contrasting their road bed From the
aggregate amouu deduct the per cent ne toe ca
rita upon which 10 levy their tax.
Or but for the difficulty OF properly apportlonng 70
each locality s share Of the taxable property OF the
roads an equitable plan would be TO deduct from the
gross earnings the came percentage az IN other ciases
IAhbor represents numerous class VINO are not IN.
euded in any OF the foregoing divisions as professional
men, arfirans engaged in the various trades, aud all
who are supported by salary paid for their services
In adnstng the system 30 that those who are nclu-
ded within these classes should pay their share OF
taxes it would seem an equita lie plan to require the
same per cent Of their gross income from their bust
uess for the capital wherein TO lay the tax.
II the rule be just that no one should be exempted
from taxes who possesses property or income, aud is
protected in hs person and estate the Assessors can
zee no good reason why all included under this DIVISION
and he come within the rule, should not be made to
lear their met proportion Of burden made for tue
common benefit of all. The law already excludes or
exempts much properly, all that seems necessary TO
EXEMPT. The day laboTer or the mechanic who sub
sIsts ony iy his labor woud not be reached If he pos
sessed no means for a livelihood beyond that daily
labor J IL for the reason that il would operate inur-
ousy upon those who lily able to bear the buroen
that the pol tax which is levied in many other States
should net he Incorporated into any system Of taxation
adopted tere.
The Assessors have recommended no allowance Tor
indehteduees. The Controller has so ably pointed out
the great Injustice that they do not deem II necessary
10 produce any additional arguments. Their observa-
ton The past reason of the effects produced through
out the Stg:e fully satisfies them that to allow any
draw back from full valuation, by reason OF indebted
Dess eth real persoDal estate, IL equivalent -
n premium for perjury and fraud aud destructive o.
a,iy inst system of axariOn. IL has beef shown tha
ID Hould lie fuhOus TO the reyeI of the Govern
pent TO allow il real estate and ia clear that Il l.
grossly unjust 10 allow il on personal property.
In arranging the detail Of the stem the Assessors
40 moi nrosne 10 change the laws 81 present exisng,
only may be necessary 20 carry IL into etsc
tua operation and to that end blanks should be fur
nished to the Assessors, embracing Let or schedule OF
sll the property personal and real, specified with surf
cent accuracy TO enable the Assessors judge whetb
er il il properly valued by the And each III
diyidual who signs the schedule should swear TO the
truth Of the and the Assessors should have power
TO administer Osbs with ike penalties for false
ing as in other cases OF PERJURY aud any person reus
ing i'll up and sgn the schedules the Assessors 10 do
20 to the best of their judgment, and abatement al
lowed for any excessive valuation thus made.
BY collecting the statistics thus cheaply obtained We
shan have, annually, clear view of the condition Of
s the industrial resources Of the State which is of
very great Importance 10 the whole people.
Ii If claimed by many that property, ano not income
or Profits should be taxed the objection that great
Injustice 10y reason Of the partial operation of the tax
is thus permitted, lie met by proposition for more
STRINGENT system, 10 reach the property which ought
to pay taxes.
should impair capital, then il il clearly improper to
class debts rs capital nor will that species OF personal
propery ever be reached to any great extent while
considered in that light, and TO this canse more than
any other is due that 90 large proportion escapes
taxation.
A. sell farm to for s. coo, and takes mortgage
for one-half Of the purchase money, $50 BY the
present mode OF assessing lands, It II probable that H.
farm would not be valued upon the assessment roll At
more than The sum charged upon il by AS mortgage.
b. therefore pays upon one-haf of his property, while
If A. haupens 10 be conscientious man. and the asses
cor does his duty he has to pay double the tax on bis
- coo that he paid when invested IN the farm.
thaff ba shoud much of
tie debtor property us lie holds an interest in, and
that to the amount of the indebtedness The debtor
should pay upon the property IN hs possession for that
represents accumulated capital If the debt be treated
a. capital the real capital is d0ubly taxed, and hence
in danger of being impaired.
IT, however the creditor be compelled TO pay only
upon the income derived from the interest winch the
debtor paws for the Of the capital the oDJecon 10
double taxation is in great measure.obviated FOR
il 10 be presumed that the debt has been contracted
either 10 add otherwise benefit the capital or the
debtor and hence he pays tax only upon the interest
which the capital ia bis possession Is supposed to yield
him. By this means the great iuducement 10 the
owners of personal property 70 secrete il, that 1t
shall no. come the knowledge Of the assessor II re-
moved for the gain will not be equal 10 the rick of
perjury on the one band, or an oyer-es'mate on the
other.
Norris right that the debtor should escape because
he may be embarrassed. Ii is fault OF the State
that he has contracted debts his means Of pay
ment. II would be ust 70 make the thrifty and pu-
dent bear the burdens OF the idle or extrayagant
II is the province of wise Legislation to discourage
the undue expansion of credit and to encourage econo
nv prudence, and industry and system Of taxation
which reaches the income, rather than the property,
ave of such vital importance TO the best interest of the
people.
THEODORE C. PETERS.
and yseH TO y that report submitted him. bet Tor
-4setoIy to himself he did not sign it, ,,,,n0