The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-12-20

tor OF state.
A correspondent at indianapolis re-
views the course Of Hon. JomN {. SlIoE-
MNKgr. Auditor OF the State of Indiana,
and points out ia terms OF commendi-
tion the reforms suggested by this cX-
crllent officer in his forthcoming report.
Mr.. SuossAkER has becn something else
10 the State than a mere register of the
accounts Is they passed through his
o'icc. lie hi, carefully scrutinizcd our
whole system of taxation. and where
Improvement suggests itself he has not
Ecsitated to discuss il with force and
reason. Mr.. >. has been industriously
engaged during his term OF office in a
careful investigation of the whole sys-
TEN OF rcvenue taxation aud devising
ways and means for relieving the State
from financial embarrassment, securing
a more judicious management of the
public funds and a more just and equal
system Of taxation. Ills forthcoming
report, TO be laid before the present
Legislature. will be a most able and ex-
haustive document. ii the extracts from
the same called .ort.i in advanced sheets
by the Legislature. are to be considered
q fair criterion of its merits. 1t en-
braces a thorough discussion OF the sys-I
TEN of taxation of the different States
in a condensed form, and will be especi-
ally valuable to other States contemp,a-
ting a revision of their revenue laws.
The bill proposed by Mr.. Shoemaker is
one that could have scarcely eimanated
from a legislative committee, as fcw
legislators will endure the patient labor
involved in o thorough and exhaustive
research and combination of the best
measures proving successful in all the
older States. LII the views of the Audi
tor be adopted. and the necessary legis-
lation be carried into effect As recon-
mended. it will not be long before the
State will be able TO restore to its sacred
use the school fund. and cancel the entire
indebtedness of the State, aud this with
Out any great tax burden upon the peo-
Pile. This desirable end, which must
meet the hearty approval Of every citi-
zen of the State. is TO be accomplished
through provisions Of the revenue bill
above alluded TO, which reaches a vast
amount OF taxable property that has
hitherto escaped taxation. The bill has
been prepared with great care, and in
addition to securing the assessment of "A
vast amount. hitherto untaxed, ii rene
dies other defects that have been OPP
pressive to the producing classes. The
present law i'm the State is most critical
ly severe i'm listing for taxation all the
products Of the farm. even down 10 the
garden produce, yet large mOneyed COR
%porations, with enormous capital, have
escaped on the tax books and this while
many of them are growing vastly rich
by virtue OF liberal charters and protec-
tive legislation. From these new sources
of revenue. secured by the legislation
proposed by the Auditor, enough addi-
tional taxes will be received TO place the
whole financial Interests OF the State in
a hcalthful condition, and at the same
time relieve other species of property
from unequal tax burdens for ali time to
come. The proposition to tax the capt.
tal stock of corporations must produce.
if the law be approved, a vast revenue
to the State. Indiana, with her four
thousand miles Of railroads. only derive,
from ten million dollars OF
OF such property. while every road Of a
hundred miles is really worth from a
half to twice that sum. The proposed
law will tax all these roads the actual
value of the road-bcds, rolling stock
and real estate, independent Of auy
bonded debt of the roads. There will
thus be secured al additional revenue
from at least one hundred millions OF
property which now produces nothing
In like u the capital stock of all
corporations comes under the sphere o.
the assessors duties, and insurance com
panies doing business in the State. tele-
graph and express companies property
the shares of national banks and other
bank stock will all swell the taxables
OF the State, thus producing a revenue
largely in excess of what is at present
obtained. and without any greater bur.
den upon the masses Of the people. =
Some idea of the loss to the State Of In.
diana by reason of the want of an ade.
quate law to tax this species of property
may be gained when it is considered
that the State Of Pennsylvania derived
a e last year from foreign insur.
ance corporations more than the entire
revenue Of Indiana during the same
year The Auditor sees no reason why
Indiana should not derive benefits like
other States from these corporations do.
ing business and growing more wealthy
within her borders.
Mr.. Shoemaker, in urging the necessi
ty of the proposed legislation, bold,
and forcibly sets forth the danger of i'm
reference of this corporate wealth il