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

difficult to determine whether this
was intended as tax on the corpora
tion or on production. fit was de-
signed for the former, it should be
forthwith amended or repealed, be-
cause of the inability of the Auditor
General to ascertain what amount of
tax is due the State, and on account
of the unequal manner in which it op-
Grated on the different companies il
was intended to reach For example /:
The Pennsylvania Railroad Compa-
ny, with an income which, in 1864,
amounted to nearly 100000, pays
for 1868 tax of s5l ,365.13, while the
Reading Railroad Company, with an
income of 50, ,250,0 900 during the same
period, pays ss9, ,232.77. The Lacka-
wanna and Bloomsbury Railroad Com
pany, with an income of 500, 900. pays
sl6s3S3.03. The Erie and Northeast,
with an income of only S500,000, pays
sl4, ,I54.43, and the Atlantic and Great
Western, with its immense capital and
traffic, paid the Insignificant sum of
S6,03l.57.
1t cannot be ascertained at present.
what the gross receipts of the differ
ent railroad and transportation com
Ipanies will amount to. for the past
year, but they will most probably
reach the sum of $50, 100000 A tax
OF threefourths 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
would double the taxes ofsome of our
large corporations, but it would pro-
portionately reduce the amount now
paid by others, who are unfairly dealt
with by the present system.
BY law approved April 80, 1864,
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 Sl50,O00 oyer the previous
year. But 1t is still imperfect, and
ought TO BIC amended. A tax ofthree'
nl'0s on the principal of six per cent,
bond is the same as tax of five per
cent, on the interest.
lrecommcnd that the law be so
amended as to reqssre a tax of five
per cent, to be be paid on the interest
accruing on all bonds This will make
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
Stae Treasurer, and with a 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 carefuIconsidora-
tion 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 small proportion ofthcse ipsti-
tuhons pay any tax into the treasury.
If all corporations, both foreign and
domestic, were required to keep a
complete record of the names of their
officers, places of business, &C., with
the Auditor General, it would greatly
facilitate the collection Of taxes due
from them to the State.
Our license laws require amendment.
Nine-tenths ofthe theatres pay no IL
cense at all, and in the city of Phila-
delphia alone, nearly three thousand
persons, liable, under the laws, annu-
ally fail to take out licenses as venders
of merchandise. This Is from no fault
ofthe county officers, but arises from
the fact that these people are allowed
to appeal from the decision of the
mercantile appraiser to an alderman,
and from the judgement Of the alder
man to the county court The result
is that the year for which they are re-
CURED TO pay license generally expires
before the case can be reached. / sug-
gest that licenses be collected in the
same manner as other taxes. The
law requiring corporations to pay
bonus for their charters should be so
amended as to compel the first pay.
uaeDt to be. made Immediately upon
the organization of the company. Had
this been the law during the past
year, the State would have received
an income of s150,000 more than
she has derived from this source, most
of which will now be lost.
By the estimate, hereto annexed,
OF our receipts and expenditures for
the coming year, it will be seen that
our receipts are expected to reach the
sum of s5,426, 600, and our expendi-
lures, duringt the same period, the sum
of 3,52S, 600. By levying tax OF one
per cent. on the capital Of banks,and
the exercise of proper diligence in col
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