New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-02-17
row -. YonK NpusrrIEs suTrER.

Tow NEw-YoBK INDUSTRIES SUFFER.
In Great Britain, France, Belgium, Prussia, and Hol
land There direct personal property; and
in al Of these countries special is taken that the
Incidence Of local taxation shall increase the cost Of
production especially Of manufacturing or Of the com
meIcal transactions involved In the movements OF the
finished Pr lucts o. Industry % market but IN reW
York ia common with all the other states, except rem
svva9 r has thus far been considered desirable rather
than otherwise TO impose upon the Captd eSlScl"ly
employed in manufacturing as large a proportion o.
IL is therefore evident that, 20 the c&tenI vi
this difference in the incidence Of taxation me manu-,
facturcr la Ncw-Yovk must enter foreign market aI
disatvate rs for which there can be no direct oon2c
s8tOu; vhic, az regards ms own, OF tie hOilo i
he hes weed OF corresponding llsuIe o, plOe0
ton rate OF tariff, in order 20 hGId his own
his more fayoled foreign competitor How TINS co9iIoh
Of Inequality operates as DAT 70 tnste . L
eress COMO ntly may be practically shown ny various
e4amrles o r-o,c,t,on o, new line Of steam
s,iI,s 10 nm ict ctn the City Of NeWYork and Europe
in dompctlcn with existing Ines now controlled by
N Inc nationality OF the company is to be American ana
lis location NcwNoTk City, the STATE city, and county
ing the past year, on the whole accessible capital
property ol tho Company, IN the form OF yesSes'
ing capital, tax of 227 per cent Beyond TINS the Ma
tona Gov rnmcnt would have imposed an averaGe tax
under the tariff ell articles or foreign growth or I'M
portation used in the vessels OF the line, 81 IS per
cent; TIE profits or dividends OF ne Company qi
perchanCc there should DE any, an income tax on all
d It'll 10 testT wond have also taken "a per
IT. on the other hand the Sittts Of tho company is
made foreign and its location fixed at Liverpool, the
whole amount Of local taxation 20 which the company
would have been subjected would be merely an assess
mont 10 the extent Of from 10 TO 20 cent on the rental
value OF tue premises occupied either as offices store
6S oreTn% &I would 6aTa levied in the year 1870
income tax on the Fot Of tine n sens ea sGyS
lent 10 per cont aud emitting all other forms OF dect
Taxation woud allowed all articles subject TO tax
alton either under the excise OF trn 5neu as ui9on
spirits teas sugars coffee vines aud tobacco, when
may be required for on board tac steamer III qdeS
tiOi, 10 he taken from bond free OF duty.
The difference in the return on the investment there
systns recoRuzcd in the dfsront locations specified,
would he OF itself sufficient to afford to the foreign
capitalist diyG nd ON bic stock nearly OF quite equa 10
the ordinary rate Of European interest IN the capital
employed; willie TO the American investor, the dls,
greater through increase of expenses and dlmlnn
ton profit which be traced directly 10 system Of
everything that has entered into the steamer from the
laying Of her keel TO the coal that feeds her engines
OTHER STATES.
During the present year the Legislature OF Pcnnsyya
MIA has incorporated transatlantic steamship company
having it's American situs in Philadelphia in which all
the property Of the company stock and bonds included
is specifically exempted from all taxation. In
Maine and Vermont, manufacturing establish
monts have been specially exempted from tax
for term OF years If select another example the
manufacture of cotton in Great Britain ana New-York
respectively find thatin the former country the mel
dence OF al local other direct taxation exten1s ohy
the rental value of buildings used for the reception
OF transaction of other details or the
business Of manufacturing and does not In any way re-
card the value OF the machinery which may be placed IN
Such buildings the capital employed In ITS work
with al the other States except Pennsy yauia the mel
dence OF local taxation falls upon every thing connected
with the business OF cotton manufacture that accessi-
BILE viz: Buildings land, capital aud machinery ana 49,
moreover not unfrequenty duplicated; the land ma
clpery and buildings being taxed to the company OF
coruorafO ut the place where they are situated ana
the stock 20 the stockholders at the place OF his res0ence
dOmicile. -, . .,.-a,, ,-o,,,b. e.,
the notice OF Commissioners tho aggregate OF these
local taxes imposed particular corporation loeateu
i'm one OF the New In gland States amounted III 1909 70
over four per cent upon the whole capital invested ana
I'm wears previous the aggregate was reported as cohs
erably In excess OF this ngure: ,., a.. s.o..
But vicious as this stem 49, upon lts lace Cs cuects
cotTasfng our dome tic with foreign systems OF taxa
zion cannot lie fully appreciated until we take into CON
deon the fact that capital required to Dulid eOIt0h
or wooden mill in the United States Is about douDle
the amount required Great Britain or upon me CON
fnent OF Europe -Four per cent therefore, on inc cap
ital of cotton mill III the United states represents
eight per cent ia the same productive power ia
Great Britain, Belgium, or GERMANY rate WINCH Is
almost double the average rate of interest In the latter
countries the neghbOTing States were TO ADOPT the
system Of local taxation existing in pennsylvania OF
more liberal one aud NewYUrk were 10 adhere 10 ner
prcsent system manufacturing industry, to very great
extent would either be Obliged 10 abandon the STATE OF
force a repeal Of the existing laws.
RIAL ESTATE AND PERSONAL PROPERTY.
The following table shows the assessed valuations OF
real personal property for the several states Named