Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1866-01-17

dlfflcult 10 determine Wnetner thlS
was intended as tax on the corpora
ton or on production If it was de-
signed for the former, it should be
forthwith amended or repealed, be-
cause of the inability of the Auditor
to ascertain what amount of
tax is due the State, and on account
of the unequal manner in which it OPP
Grated on the different companies it
was intended to reach. For example
The Pennsylvania Railroad Compa-
ny, with an income which, in 1864,
amounted to nearly S15,000,000 pays
for 1865 tax of s51 ,365.13, while the
Reading Railroad Company, with an
income of S9, $50, 900 during the same
period, pays $50, ,232.77. The Lacka-
wanna and Bloomsbury Railroad Com
pany, with an income of s700, ,000,pays
s16,3S3.03. The Erie and Northeast,
with an income of only $500, ,000, pays
Sl4 T54.43, and the Atlantic and Great
Western, with its immense capital and
traffic, paid the insignificant sum Of
S6,031.57.
1t cannot be ascertained at present,
what the gross receipts of the differ
ent railroad and transportation com
panies will amount to for the past
year, but they will most probably
reach the sum of $50, 100000. A tax
Of three-fourths of one per cent, on
these gross receipts would yield as
much income, and would be far more
equal in its operation than what is
now known as the tonnage-tax. This
change in the manner of assessment
wonId double the taxes of some of our
large corporations, but it would pro-
portionately reduce the amount now
paddy others, who are unfairly dealt
with by the present system.
BY law approved April 30, 1854,
the treasurers of corporations are re-
quired to deduct the three-mill tax
when paying the interest on the bonds,
and pay the same over to the State
treasurer. This law thus far operates
advantageously, yielding in 1865 an
excess of $780, 900 oyer the previous
year. But 1t is still imperfect, and
ought to be amended. A tax ofthree
nlias on the principal of a six per cent,
bond is the same rs a tax OF five per
cent, on the interest.
recommend that the law be so
amended as to reqsSre tax Of five
per cent, to be be paid on the interest
accruing on all bonds This will make
a FIVE, six or seven per cent. bond
bear equal burdens. The corporation
should be required to make its return
to the Auditor General, instead of the
State Treasurer, and with severe
penalty for a noncompliance. This
tax, if properly regulated, will become
sne of the most reliable sources of in
come to the State Treasury, and should
receive the early and carefuIconsidera-
ton Of the Legislature.
Some method should be adopted by
which the officers of the State can. learn
the whereabouts of officers offoreign
corporations liable to taxation under
our laws. As the law is now enforced
but a small proportion ofthcse insti.
tutions pay any tax into the treasury
If all corporations, both foreign anC
domestic, were required to keep Q
complete record of the names of tlleiI
officers, places of business, &c, with
T the Auditor General, it would greatly
facilitate the colleetioR of taxes due
from them to the State.
Oar license laws require amendment
Nine-t -tenths ofth theatres pay no Ii
cense at all, and in the city of Phila
delpbia alone, nearly three Thousand
persons, liable, under the laws, annu
ally fail to take out licenses as vender
of merchandise. This Is from no faul
of the county officers, but arises iron
the fact that these people are allowe'
to appeal from the decision of tn,
mercantile appraiser TO an alderman
and from the judgement Of the alder
man to the county court. The resul
is that the year for which they arc re
quircd to pay license generally expire
, before the case can be reached. i sul
: gest that licenses be collected in tn
, same manner as other taxes. Th
law requiring corporations to pay
, bonus for their charters should be 5
} amended rs to compel the first pay
meDt TO be made Immediately upo
. the organization of the company. Ha
I. this been the law during the pas
E year, the State would have receive,
: an income of s150,o00 more thai
+ she has derived from this source, mos
; of which will now be lost.
G By the estimate, hereto annexed
r of our receipts and expenditures fc
|. The coming year, it viii be seen ths
G eur receipts arc expected to reach tn
|. sum of IS, ,426, 900, and our expend
@ lures, during the same period, The SUI
of s3,523, 600. BY levyipg tax of on
o per cent on the capital Of banks,an
) the exercise of proper diligehcein co