The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-12
The REVISION OF TAXATION IN NEW YORK.

To THE EDITOR OF THE HERALD:-
was glad to notice some attention by your valua.
BILE paper to the present actlon Of our Legislature
upon the attempt to render the system OF taxation
in this State more equal. I mus confess that SO
far as have noticed the exposition Of this question
by the plan OF the Hon. David A. Wells, it has but
one idea, and that confused and very uncertain in
Its bearing, so far reaching any equitable ad-
justment Of the question. That Idea is this. 1t Is
laboriously argued from what Is supposed to be the
fact tnat as large proportion OF personal property
now escapes taxation under our present system,
it better to aid that dishonesty which attempts to
withhold slch property from that burden by re.
leasing great part OF It altogether, rather
than make any attempt to reach such
Then to secure the amount or loss by
such release OF personal property 1t Is proposed to
estate, FOR the simple that the possessor of
That description or property cannot conceal It's
sona OF 81 Otner words TO shield per
burden upon real estate But this state of the case,
SO far Is put small part of the apparent injustice
OF This wonderful scheme vi the far-famed gentle.
man. who, by what Is stated by some portion OF the
press, Is known as wonder upon the subject OF
Is it possible that any one can regard such tax IN
any other light than an indirect mode OF making an
rns store enc as ss oeen
sad Is rich Tor Is supposed to pei, and, under TINS
sa 81 nm must and ought be taxed
it be for $1,000 or ranging up to $4,000.
To whatever the extent OF such rental
It Is so much burden upon the party who pays the
rent and Will always be SO mucn increase OF rent,
and will necessarily be regarded part OF the
rent which must IN its ultimate effect tend to re-
duce the actual rental OF all real estate, such re.
auction Is neither more nor less than an indirect
mode OF adding to the tax OF real estate.
But IT, on the contrary, 1t Is admitted that this
rental taxation did not fall back upon the real es-
as as an a. .ax e p e she se
large portion or actual capital or personal estate
the mlschievous effect Will be to add greatly
est industry Of the city and county, which
In all countries IS the origin Of wealth,
and by the wisest legislators endeavOrs have
always been attempted TO protect 1t from the
modern Scion has discovered an error In what has
been the supposed wisdom OF former legislators and
now endeavors to display MS talent In reversing the
former theory In the production OF weaith-by pro-
tect,ng the capitalist at the expense OF the honest
industry or The merchant, the mechanic and the
artisan. perfect equality OF taxation Is desired
by all; and 1t Is not doubted that there Is q vast
amount Of personal estate that now escapes taxa
ton, bur large portion OF this Is ready money and
the fear OF driving sucn capital from this State,
by devising some more enectual means to reach
wild and visionary scheme OF cramping and de-
stroying that industrial pursuit which Is acknowl-
edged bv all to be the basis OF prosperity.
The evils of Mr. Wells scheme, so far as has been
seem are us complications ana apparent Injustice.
It's falsties might be greatly elaborated, but fear
to encroach upon the space In your valuable paper.
Will add mat It would De singular state OF legls-
seats our General Assembly, through the elective
franchise Of the great industrial portion OF the peO
pie Of this STATE be nveged into the support Of this
visionary and untried scheme. We all know we
need retrenchment In the expenditure Of money;
the source OF taxation the first thing be sought
after, and then an equality Of taxallon, and no
'a'o'''''"' io' 'Ap''a'' A RETIRED MERCHANT.