New-York tribune., 1867-02-27
STATE E1PENDITURE IND TAxAT0N.
From Oar Special Correspondent

to follow the passage of the various schemes before
them for depicting the State treasury and increasing
the burdens of taxation but, if they have not il
strikes it is about time that they gave the matter
a little serious, earnest thought. Here are some OF
the measures now before the Legislature, or coming
before it, demanding State aid:
The Albany and Susquchanna Railroad asks. S2j0O00
The Whitehall and PlattSburg Railroad ....... 2jOOOO
Inc sclieetady and OgdenSOurg Railroad. 9COOO
The Ghenango Canal Extension, say $500
Inc Genesee valley Canal. 23O00
For enarging locks Of Erie Canl iO0Oc@o
Total, .tl $4,000
And then the Midland RaiIroad asks that the bonds
wncn are issued BY different towns n aid 81 thai
work shall be eN- eN-n'Otea tom taxation so that they
may be disposed of in the Market They CART he
sOld nobody viii take them at par if he has got 10
be taxed on them, though they draw the lawful IN
tereSt. In other words the purchaser must obtain
them at share, shave equal to the amount of the
tax from which they are to be exempted, he will
not have them. If similar property pays>a tax OF
per cent OF per cent ~ per cent, this Will
be- the amount of the shave
Exempt from taxation the bonds isSned IN aid OF
the abOve-namcd road, and that will be the end of
taxing town bonds issued for a similar object any
where in this State Thercare al least a dozen Fa-
roads now in course of construction who're town
bonds have been employed. Pass the Midland EX-
emption blu and should like to see the Legislature
refuse tOS'Xempt these other town bonds. Not only
so, but you will have to exempt the bonds issued III
aid of roads already in operation. There must have
been million, more or less OF these bonds issued by
towns along the line of the Albany and SuSquehanna
Road. People who hold them pay taxes on them:
but how long will they do 1t after Midland passesI
low long should they do II II the exemption
sought for in in Midland is right, other roads must
have the benefit of the principle. All localities must
be treated alike. We can't make fish of one and
flesh of another
and there is no reason for taxingfhe man who FUR
nished the money for building IT. Ii tins ~ So make
the principle universal. Not less than s@U00OOVU
have been invested by capitalists IN this State IN and
Of different railroads. and probably there are Sl2O-
100000 of stock now held by parties on which they
are taxed. The railroad that ther money heilfu
build is taxed so also is the stock Representing ne
money thev advanced. Whoever buys share ot TINS
stock is taxed OH il. Whoever buys bona. issued
for exactly the same purpose rs the stock VIZ. 10
raise money for the construction of the road, gets
clear of the payment of State taxes thereon hai
Justice is there in this The bond as understand
it pays per cent interest. Inc slaIc 9l sIotA& & HH
nav nothing. II the road pays diyldends the STOCK,
holder receives interest; but If dividend - passed
the stock pays nothing. should the Midland tNeihp-
tion bill become law, there Is not an owner OF
bond or "A share of railroad stock IN the State VINO
would not be knocking az the doors OF the Capiioi
for relief from taxation.
want the exemption to which have referred, hut
they are asking from the state Treasury S5~V per
mie-$50U00 to be pad ON the complexion oi 10 lcS'
They want help from the public treasury, Dut Nhth
asked to put money into that treasury tey are ui-
willing 10 respond. The taxes must IL leyted upon
real estate aud personal property, other than tat
invested i'm town bonds.
general bill has been devised, believe, whereby
- 600 Der mile is to I've given to any railroad corpora
ti0n when IL completes 10 miles OF road provided
is not located within 20 miles OF any othef foad. II
this bill passes the town bond exemption Pl'po'lol
should also be made general law, ana thth every
locality would be likely 10 OBTAIN All inc ldlhod"
facilities il would require. ~.
Now must enter my earnest protest against thiS
whole system of legislation. IL Is dangerous III tie
extreme liz will not only bankrupt The state II
carried out but il VIII involve towns whose bonds
have been issued for the purposes herein referred 10
" baiI be clad 70 see $3.50 900 voted to the Albany
and Susauehanna Road, and then would lej thhss
rest. don't know that this Is more deserving thah
tbe other rOads but il is older claimant than the
rest The State has aided II: II IL IN good state ol
forvardness it ought 10 be completed, but cannon De
as understand unless it can have further assistance
from tbe State The PattSbuTg and Nhltchall
shoud wait; Schenectady and OgdensbuIg must wan
the Oneida Lake Canal, # am HghtP luolneu,
should not be built n all II = wanted ~ an Quiet
for the timber standing on the nOfi shore OF VleIu
lake and for taking away the leather manufactured
i'm that vicinity. Now, | am assured on t1"i
authority, that if every stick OF tlnGtr IN lhdt
locality we're to-day manufactured into lumber ana
brought 10 the Albany market, u would not bilng
enough to pay Onc-half the expense OF the poectco
canal. As to the leather manuiact4red there ! am
fold that five years will nnsh the bark III thal re-
zion and of course the business OF making lealhtI
Beside this there is western outlet 10 thc Iahc
through wkch all the lumber and leather OF olhcr
articles manufactured in that section can he con-
veyed 10 Syracuse within "A hours nom the Time IL Is
shipped ,.,
will ask a further appropriation, although the under,
standing last wear was that the sum then obtained
would be sufficient to complete the work. Ihe state
is committed to the finishing oi TINS Extension a
if more money is required it wiz, suppose have to
he voted -.-rs~'..-4ys. = a'-rl,' a..
It /, understood that the Assembly Canal Commit
tee will ask 900 to enlarge the Gcncsec Valley
Canal when the tolls collected on this canal are not
sufficient TO pay the cost OF repairs II ~ not posi-
BILE that the Legislature will be inconsdcrate as
! TO vote this appropriation.
! the erection of q new Capitol. do not myself be
lieye il best TO spend anything for tins object al
present: would wait until the banks resume spcclt
! payment: would wait until a dollar Is worth dol
taT-intil il will buy dollars worth of materials anC
| a dollars worth of work; though am free 10 Owl
the old Capitol is becoming little unslghty IL j.
/ NOT sufficiently cOmlnOd.pus. and the Assembly
] Chamber is considered badly ventilated room by
those who have occupied If; but It IS as good as i
has been any time IN ten years, ana WOuIu HIKE u
Nor wonid vote 10 enlarge the locks on the Eric
/ Canal this year j think we had betor wait ana SEE
what the Constitutional Convention does. llt imam
ciol article of the Constitution may he modified by
that body; or if it should not, some other plan may
he devised fOr obtaining additional facilities on on
canals should il be satisfactorily determined ina
they are inadequate to the business that they may D
| reqIred TO do. .,
| [ would let everything wait that coud max
! wait The State is not in condition TO engage II
new enterprises. II is not i'll condition to advance
money TO build railroads canals it IS heavily Il
debt II owes not less than $OOOOVo ime Ih dllIel
| ent couuties owe twice as much more linen con
ei,S eider what a vast amount the nation owes--mon
than two thousand monsl TIE nation ,no,a collect a
from us through her revenue officers more thai "a,
! fiffv milions per annum! Was ever people so IN
voiyed before We have stood UP under it, go far
It's true; but how long shall we be able Z" 90 u
! How long can we do 1T, provided IL shai DC III
, creased , Ii:
There is the Southern Central Road-extendin
from Sodus to OwegO | belieye-that wants help :
The Black River Road likewise; and an appropriate
Is wanted for slack-water navigation on the hudson
above Troy in fact there Is scarcely llht 10 tll