New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-02

tstc to $1,000 90 in gold which Is equal 10 -
TeteJ @Vpoo Z"
Making an aggregate oftaIon of......... $50 s 1913 90
e and equals tax Of "a man. woman and child IN the
ISn should :, P , sos s '@s ,S ,S 81 s
value @ the s'. Whole Spet SH'n more wa" "'
The report OF which the above extract forms part
signed by the Hon. Sanford f. Church, Chairman and
appears to have been coneurred 10y majority Of the
members Of the Committee OF whom Messrs. George Op-
dyke Augustus schc and Erastus Corning are leading
members.
have asked that they are neoIect that they do not
fairly represent the actual state OF the case and are cal
culaed To needesy alarm the taxpayers and TO impair
both the state and national credit In support OF my
position would ask attention TO an analysis OF the est
mates OF the Finance Committee as above gwen The
first item In the estimate Is the debt of the State which
Is given at Ns,3jlG52 ~ Or this amount ss1iS4oO is
property for the last fiscal year paid from IFS eanng-
rst the interest on its debt 81 0355 and seeondly cen
tribued TO debt sinking fund the further sum OF u 49,
426 3d. far therefore, from this portion OF the debt
being any burden 10 the people Of the state OF York,
1t is in fact through the property which Il represents
In any fair statement Of state Indebtedness with
a corresponding credit being ut the same time carried
to the other EIDE Oh ihe account futlhernos' hs ne
earnings OF the canals over and above their own interest
obligations sufficient TO more than pay SIX per
cent interest on the remaining portion OF the state oeD
We think are Justified In asserting that the state OF
whole amount from our revised estimates. We would
here remark that the average interest on the canal debt
as given 10y the State Controller is about 70 per cent
We come next 20 the second item Of the finance com
the aggregate Of which is stated at s5 100000 OF this
amount. t39osa5 represents the ndebtedness OF inc
City OF New York: 10 the credit or which Nn4t, FIRST.
sinking fund OF s0637 eO with cash deposited in the
hands OF the CITY Chamberlain Of Sol 6i4 the whole
ondy the CrotOn wafer works property representing
cost of S07sjOO0, which like the canal debt affords
.omohng beside ANY, @ srefoe on @
account may be fairly col 'fcTcd "a balanced by an
Another large item OF ths cts indebtedness is s96isoo
/ representing The Central Park but as THIS I'M,
proyemcnt has is understood brought 20 the city aud
additional revenue. than sufficient 20 pay the utter
est Of It's debt It's cnumcratons among the INST OF burden
some obligations should either be entirely omitted or re-
ccyed with certain essential qualifications In Ike man
the debt Of nearly all the other cities and towns OF the
STATE when carefully examined VIII be FOUND to be offset
byrevenuc paying property 10 very considerable amount
gladly purchase AT an appraised value and hold profit
able lestments. Making proper allowance, therefore
State Of New York instead OF being SIS 100000 should
think be reckoned at much less probably not more
The next leading Item in the account Of the Finance
Committee is tho proportion Of the National debt be
down At the large Of five hundred millions
s5O00cOOO0. Ito say nothing using the words OF the
which high authority has placed AT the same amount
As ihe unascciaincd debt yet recognized. and IL
chargeabe for neither interest sinking fund we will
leave the high authority referred 10, whoever he
may be. and proceed to inquire as to the correctness o
II the national debt were TO be paid oil by direct taxa
ton this taxation would be according to representation
or what Is the same thing according 10 population, and
We therefore this the only fair basis Of appor
uonment. What then are the facts and figures The
The population OF the state Of NewYOrk t3ooOO con
sutes less than one ninth part The amount OF me ma
21I4G-0ne ninth Of which would be s272tj", ana not
s,.,ig the correctness OF estimates and figures
as above given have then as grand total OK the
present b1rdensomo Indebtedness Of the state OF New
Sork-naona State, aud loca-S32I 100000, instead OF
S63 35l GS2 as the Finance Committee have estimated
IT, Furthermore, We were to base the proportion Oh ma
tiOnal Indebtedness, which constitutes e largest item OF
this account the apporuohment when WIZ DO t auV
according either 10 the Increased population or wealth. az
the time Of It's maturity Qi 10 20 years hence Is eN-
dent that the burden must be represented Dy hiueh
We would next ask attention 10 the estimates OF the
annual taxation Of the State OF New YORK, which, ac-
$50, 9si 900 per annum, divided as follows:
pmEcT TAXES 40
state county and o GOO
o., ann ., III. Internal Re,ssSe collected BY national
oI,sss Of The amount collected through OOOO
~, .................s 1870 98l 600
with regard TO The amount OF the direct taxes given by
the Committee have no data available Tor their as
cusson and accordingly assume the correctness OF the
rect taxes viz the proportion Of the Internal revenue
collected by the national authorities aud pad by the
State which the Committee assume nj one-nith Oh .no
entire we TSGd say s5 5at al tS of the @
mediate present andnot to the past the basis Oh
should be the amount OF Internal Revenue collected LOT
the fiscal year ending June 80 ls6I-S6s
than that collected the fiscal ending June 49, 1868
OOObeforo the taxes had been to any consider
able extent abated NOW onellth Oh te IoiheI aVun'
would give $50 coo, 600 in place OF So, ISL 600.
The estimate, however, taken either way means noun
ing and proves nothing The Internal Revenue coeseu
by the general government from the people OF New
divides itself mainly into two portons-taxes upon IN
comes aud taxes upon manufactures. or the first, the
taxation falls exclusively upon profits, ana upon only
small portion OF the aggregate profit OF the whole Pop
lon al 900 house and repairs being excepted III
the income receipts have been large IRON the people
OF the state Of New York. the profits and the ability to
pay have been Sgea no WhS desires that his ability pay
a s METH Ss should Sc less next year titan st
Of any year which hos PyeSsdsa ris III l,o, Oor.t,
te the main item of Internal Revenue receipts the tax
nsSp M copGf and the suppositon that i is charge
ble i'm gross upOn those who the tax III the nrst IN
Lance IA entirely unwairanted. II the people OF the
STATE OF New-York consume one-tfth part OF all the
dGIsly tobacco cigars, coal OIL cotton ana COTTON goods
odncs OF the country, then they pay onenth OF the
pphoe internal Revenue, and not otherwise. =.
the Committee further assert that the amount OF
eoIlected under the tariff Is nearly $500 100000 per
annum OF which the people OF the state Oh pay
Ssconshfers one-fh amounting In the aggreES " ~
IN go1 ii fst The largest amount collected under
he tariff In ANY One year In ls6 and was not sOO
oo 600 but and for the last fiscal year II was
only little IN excess OF .S Oo C az the Committee
estimate But there Is no evidence 10 SNOW taI INC
peope Of the state OF New-York pay one ~ oi
he revenue collected under the tariff, any more lnal
that they pay one-fth or tire whole amOunt coneveu
under the internal revenue On the contrary tue ph Vi
the customs duties are collected from articles m , es
Ter most largely into general consumption as sugars tea
coffee silk rice, tobacco wines, wOolens aruSs, .nu
ware aud the like. Does aay pretend that less tna
200 OF the people OF the United States consume 0no
a mart ~ ali these products annually importeuf inc
nroposton is itself absurdlty In fact 70 "ssnhe
sIxy millions as the share OF the national taxation, wSh
hi ia much airer esimae than that Of the committee
Via; one hundred and eighteen millions, which, psng a.
loved would make total annual taxation 81 0ns