The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-02-16
FROM NEW YORK.

Report from YAK Commits sioner Wells.
ALBANY, Feb. 16.-TaX Commissioner Wells
report was submitted to the Legislature to-day.
He shows in many ways and by numerous cases
the following
First That State or municipal taxation is now
in all States unsystematic, needlessy interfer-
ing with industry, uncertain of collection, in
many cases oppressive, and often, particularly
in New York State, SO burdensome as to drive
away capital and make many industrial enter
Second. That among the chief causes for these
vices in the system of State taxation is the at
tempt made to subject personal property of
every kind to taxation. 1y-.
Third. The attempt to tax personal property
has everywhere failed because of evasions Of
capital; that it has therefore been a form of
taxation not Injurious to Industry where 1t
was actually levied but partial, and thus unjust
in its bearing, because 1t could not be collected
fairly and generally.
Fourth. He exhibits different and contrary de-
cisions of courts in different States concerning
taxed, showing an astonishing degree of CO.. ifu-
sion. Fifth. He shows the practice of other
countries-Great Britain, France, Prus-
sia, and Holland3of not attempting to tax
suits of such exemption in favor of the indus
tries of such countries against our own, show
ing, for instance that the mere State and city
taxes of New York discriminate against the
building and outfit here of steamship fleet to
fatal degree. Our State and local taxes
would be 227-10O per cent. on its
WnOle properly or accessible capital, while IL
the company were English it would pay no
local taxes on its property, but only a tax on
the rental value of its offices, thus, without
counting at all the taxes of our general Govern
ment, our local systems of taxation, and that
fatally burden industry, the commissioner
suggest two outline codes to carry out the provi-
sions they recommend for securing personal
property. The first of the provides that
the capital stock and property of any
corporation of this State organized as trust COM
paDy, ferry, plank road, or turnpike company,
savings bank, fire or marine insurance compa-
MES, or banking company to receive deposits or
make loans, and the shares in such banks and
all foreign insurance companies doing business
in the State shall be taxed as at present, and
every private banker shall be taxed on his capi-
tai employed, and in no less sum than one-quar-
ter of his average deposits that no other person
al property shall be taxed; all lands shall
be assessed at one-haif of their value, and all
bulldogs at their full value. Is-
The second outline code provides that COM
panies named In the previous code shall be
taxed as heretofore, except that such companies
may deduct from the total of their capital the
assessed value of their real estate. Ocoupiers
OF real estate as owners or tenants, and not as
lodgers, are to be assessed sum equal to the
assessed rental value of the premises, this same
TO be added to their personal assessment, and
the tax on 1t to be collected ia the same manner
as other personal taxes, but no other personal
property shall be taxed.