The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1866-01-19

The Erie and Northeast, with an in
come of only $780, 900, pay $l4,754.43;
and the Atlantic and Great Western,
with its immense capital and traffic,
paid the insignificant sum Of S6,03l 81.
It cannot be ascertained at present,
what thesgross receipts of the different
railroad and transportation companies
will amount to for the past year; but
they will most probably reach the sum
of S60,000. 900. 4 tax of three-tOurths
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 az tonnage tax
| This change in the manner Of assess
ment would double the taxes Of some
of our large corporations, but it would
/ prOpOrti0nately reduce theamOunt now
| paid by Others, who are unfairly dealt
I with by the present system.
! BY law approved Aprir 30, 1864, the
/ treasureTs of corporations are required
I to deduct the mill tax when paying the
| interest on their bonds, and pay the
/ same over to the State Treasurer. This
! law thus far operates very advantage
/ OusiY. yielding in 1865 an eXces, Of
+
/ it is still Imperfect, and ought to he IL
mended. 4 tax Of three mills on the
principal of six per cent. bond il the
same n d tax OF five per cent. 0n tin"
/ interest.
. | recommend that the law be 80 a.
/ mended a to require a tax Of five per
cent. to 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 .Au-
! dit0r General, instead of the State Treas
urer, and have its accounts settled in
! the usual manner, with a severe penal
/ ty for Noncompliance. The tax. if
| properly regulated, will become one Of
I the most reliable sources of income to
/ the State Treasury, and should receive
+ the early and careful consideration of
the Legislature.
. Some method should be adopted by
which the officers of the State can learn
the whereabouts of the officers of for
eign corporations liable to taxation un-
der our laws. A. the law il now en-
forced, but a small proportion Of these
institutions pay any tax into the Treas
urE. If all corporations, both foreign
and domestic, were required 10 keep a
complete record of the names OF their
officers, place Of business, &C., with the
( Auditor General it would greatly facili-
tate the collection of taxes due from
them to the State.
Our license laws require amendment
Nine-tenths Of the theatres pay no IL
cense at all, and in the city Of Philadel-
al a
sons, liable under the laws. annually
fail to take out licenses as Venders Of
merchandise. This is from no fault of
the county officers, but arises from the
( fact that these people are allowed to
4 appeal from the decision of the mer-
camille appraiser to III alderman, and
from the judgment Of the alderman to
the county court. The result i that
the year for which they are required to
pay Il license generally expires before
the case can be reached. ! suggest that
( licenses be collected in heSame manner
a. other taxes. The law requiring cor
pOratiOnS to pay a bonus for their char
terS, should be 50 amended as to compel
the first payment to be made immed-
lately upon the organization of the
company. Had this been the law dur
ing the past year, the State would have
! received an income of Slj0,0OO more
than she 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 s., 426, 900, and expenditures, during
the same period, the sum of -, ,523. 600
( by leVEing tax of | per cent. on the
capital of banks, and the exercise Of
/ proper diligence in collecting our taxes
on corporations, licenses, DC, the re-
/ Ceipte can readily be made to reach So
! 00,O00; while the expenditures. with
the least possible effort, can he reduced
to =, 300. 600. Under these circumStan-
ces. it is worthy ri serious inquiry
whether the finance, OF the State are
not now in condition 10 dispense al
together with the tax on real estate,
. leaving il to he taxed only for county
and township purposes. 1t should be
| the endeaYOr Of the State, as far as pos
I sible, to collect her revenue from sour
cps that cannot be reached by counties
( and towns.
At the time OF creating the last war
I loan. the first thing seized upon for its
/ repayment was real estate; and now,
! that the war is over, why should ii not
( be the first 10 receive the benefits of
. peace? From all parts of the country
/ we hear the cry, high rents and much
! of the necessity for this advance arises
/ from the high local taxation rendered
| necessary to Iiquidate debts incurred
! by counties and towns to pay bountie-