Juniata sentinel. [volume] (Mifflintown, Pa.) 1846-1873, 1866-01-17
PENNSYLVANIA FINANCES.

State Treasurer Kemble, in ais annual
report to the Legislature, gives . very
satisfactory account Of the finances OF the
commonwealth, and one which must afford
~especial qualification to the public at a
time when the finances of the city and OF
the nation are so much embarrassed by
the loads of debt consequent upon the
war. Notwithstanding that the extraor-
binary expenses of the war we're more
than FIVE millions of dollars, the financial
condition of the State is two millions Of
Idpllars better than it was last year.
This has been achieved by prudent
management of our regular expenditures,
as we'll as by the raising of additional
revenues, 50 that the incom. now greately
exceeds the expenses. Mr.. Kemble there
fore recommends three measures Of large
interest. First, he proposes to relieve
the owners of real estate Of the present
State tax thereon; second, he urges a
better law for collecting the tonnage taxes,
as under the present arrangement not one
quarter per cent. is obtained from them,
whereas one per cent. would yield two
and a half millions per annum third,
he recommends the taxation of the nation
al banks IN this commonwealth, which
are at present exempt from State tax.
These propositions are of so much i'm
portance as to demand very serious con
sideration by the Legislature. 1t would,
in the present condition of public affairs,
be a great relief to real estate owners in
this commonwealth to be informed that
the State will no longer tax them. The
focal demands upon real estate are every
where necessarily heavy. Local govern
mcnt is supported and local improvements
made almost exclusively by means of tax
es upon real estate, which during the war
have been greatly swollen in the rural dis
tricts. as we'll as in.the cities and towns,
by the outlay for bounties to volunteers,
and for the relief of the families of sol
d:ers. If, by receiving money from other
sources, the State can remit its own real
estate tax, it would be a real doom to the
whole community, since all share alike
ultimately in the payment of these imposts,
The sugges :ions Of the State Treasurer
as to raising additional revene from cor
porations are %eminent,y proper, and should
be adopted. All of these corporations
are or should be well able to pay such tax
es. The objection urged to the PROPOSE
ton when the present act was under con
sideration in the Legislature, was that
some weak and struggling companies
could not sustain the burden, but the real
reason for opposition vas that it would
take large sums of money from some pow.
erful corporations, and this will no doubt
be seen when Mr.. Kemble's recommends.
ton comes up at the present session.
The taxation of banks was one of the
chief sources of revenue o2 which the
State used to rely. and SO long as the
banking system was under the control Of
the State government the taxes were as
sessed as a matter of course. But un
der the national sy stem it had been pre-.
sumed tLat she banks could not be taxed
BY the State. Some recent judicial de.
%cisions Of high authority show that thi,
ground is untenable. Indeed we do no,
see the justice of exempting this corpor
ate capital from State TAXATION while al
o ther corporate capital pays heavy taxes
We presume that the present Legislature
will adopt the suggestion, aud levy a tax
on all the national banks in the commou
wealth.
These are times when the public inter
ests demand that there shall be no favtr
itism in the levyiug of taxes. 1t is op
p~ressive 10 the masses Of the people 20 re
lieve these great corporations Of theil
Que share Of the public burdens, while
every person in the community is taxed
so heavily as an inevitable result Of the war
Mr.. Kemble's financial scheme is ia oul
opinion a very able one, and should NEE
with the support of the Legislature, a:
we sincerely trust it navy. american.
The Return Of Gov. Curtin.
UAnnlrn1rnn L.. 1QES