Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1860-06-27
From the Western Sentinel
} VALOREM-HOW WILL 1T WOkK ?

The advocates of ad rnlorem assert that it will
lessen the tax the poor man, and increase it on
the rich one. Is this true? Now this is grave
question-one that demands the calm and deliberate
consideration of every taxpayer. have carefully
examined the opposition platform, papers and re-
ports of the speeches of their candidate, Mr. Pool
to find proof Of the assertion, but have been unable
to do so. can find no calculations made by them
showing how it will lessen the poor mans taxes
and increase the rich mans. have before me the
Comptroer's report, showing the whole amount of
taxes paid for the year 1859 From this report I
propose to make some calculations showing how al
ralorem will operate see that Mr. Pool estimates
the whole property of the State at 800, OOO OOO,
and that ten cents on the 100 dollars valuation viii!
yield revenue sufficient to meet all the demands of
the State. i'll take this as the basis of my calcu-
latons as it is but fair to give the Opposition the
full benefit of their own proposition.
will first take various classes of property, which
we find almost entirely in the hands of the rich, and
show the difference in the amount of tax on each
class, and on the whole, under our present taxes,
and under ad ralorem.
The tax resulting from money on interest, divi-
dends, and profits for the year 1859 $751; 24s 81.
Now by calculation it will be found that at the
rates of cents every dollar of interest thus re-
ceived, the tax now paid, which is equivalent to the
rates of $1,000, on every million thus invested,
there was in the State, during the year 1859, $780,
100000 invested. In this way tax of ten cents
on the 800 on that amount, will create but 10000
of revenue. This will reduce the tax on interest,
dividends and profits just $4,000.
The tax on merchants was So, 1854 95 The pres
ent tax on this species of property is SO cents on
every 800 of purchases S. 900 on every million.
BY calculation it will be found that the capital in
vested in this way, in North Carolina during the
year 1859, was but $13,00000O tax Of ten
cents ON the 100 dollars valuation would reduce this
source of revenue to but $l3 OO0 Yes sir it would
reduce the tax on merchants Just $52 900
The tax on salaries and fees paid by Doctors, off,
GERS, lawyers, &C., was $l3,627 95. The tax on
these is one per cent or $40 every thousand re-
ceived. tax Of 10 cents on the $3.50 would be 81
on every thousand, instead of $40 as it now is
This would reduce the tax from $13,627 95 to ST.
1858 27,-making loss of $12,264 60.
The tax on carriages, &C., worth over
$50 was $19,1ls 81
Gold Watches 9,419 rs
Silver do, $3.50 Sc
Plate and Jewelry, 1901 OS
Horse and Mule Drovers, 1925 80
Auctioneers 637 II
Total, $34.437 60
The tax on this is one per cent, or ten dollars on
every thousand in valuation But a tax Of 10 cents
on the 800 valuation would De only 81 on every
thousand and would reduce the tax on these arti.
cles to only $s,44s 76-would reduce the taxes on
the whole $31, 1000
The tax paid on pianos was 1926 IS. The tax
is 81 80 on each piano. which shows there were just
2,177 in the State The present value will not av
erage more than $3.50 apiece so that tax of ten
cents on the 500 valuation will reduce the tax to
| 1914 and takes off just 1924 65.
The tax on pistols and knives Cbowie and such
knves) was $2,5O2 Is. The tax on each pistol and
knife is 81 25. which shows that there were just
2OO1 carried in the State. Now these pistols ant
knives will not average more than $40 apiece A
tax of ten cents on the 800 valuation will reduc.
the tax to Just ono cent each one and $40 OIL. or
the whole-taking off just g, 49, 10.
Thus it goes on But space will not permit m,
to go on and give all the calculations in full Evil
give the results in round numbers, emitting frac
tons. I'D oalorens will reduce the tax on capital i,
negro and other trade, s 2,OOt
On peddlers and playing cards, ZOO
On Retailers. e--e-ss.-,- saa,f,. -s-,.lO.00
Bowling Allies, Billiard tables, Insurance -
| companies, 300,
Brokers and Commission Merchants, Loo,
And on various other items. at least, 500
Which, all together, make the sum of Site, 4eS Il