Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-04-04
State Taxation,

Hon. David A. Wells, Commissioner of
the State of New York to revise the laws re-
iatlng to taxation gave an elaborate expo
sltion of the new system of taxation propos-
ed by him, to the Union League of New
York at their club house in that city. the
other evening. His plan is the same in all
Its main features as that reported by him
and bis brother commissioners to the Legis.
ature OF New York in ISL, and it is plain
that time and further consideration have
only streI gthened Mr. Wells faith in the
proposed system. lie showed that attempts
to raise revenues by taxing personal prop
erty have been abandoned by nearly every
civilized community. except the United
States. We tax the personal property Of
our own citizens, while that Of foreigners
doing business in this country side by side
with our own citizens Is exempt. Two
thirds of the personal property of the State
Is exempted by law or cheating, and large
part OF the rest Is exempted by connecting |
nations. While the personal property of 1
the State equals its real property, the pro-
portion Of the former returned for taxation
Is not over one-fith Of the total assessed
valuation. While the State has been in
creasing in wealth and population. the ratio
OF personal to real property assessed in 1872
was less than it was in 1863. The whole
amount Of personal property assessed in the
State Is not equal to the capital and sur
plus of the banks Of the State and the de-
posts OF the savings banks; and IN the
great city of New York, with a population ,
OF over million, not . per cent. of her
citizens us, 3s2) stand upon the books the
aSSessorS as possessing any personal proper
ty subject to taxation. In short, he main
tanned that the present system of taxation a
OF personal property in New York-State
county and municipsl-is the most inner L
iect that ever existed that, with the ex- I
'eption OF moneyed corporations, it is Il
mere voluntary assessment which NAV he b
Unfinished at any time by an offset of in II
ieotednesS which the law invites the tax Il
payers 20 increase ad ininitum; that ate d
in respect to justice and Ia
quity l. farce, and more uncertain and s
hazardous than the chances Of the gaming I
able. and that its continuance is more pro- C
'eati'e OF immortality and more obstruc.
i've OF material Development than any otbe, ii
gency. fl
Mr.. Wells plan is to conine taxatio N "
cal estate, rentals, and stocks of mo, ,eva3 m
Operations. 1t Is thus set forth II ore in
etaii The new system starts with the idea pl
na' II taxes are levied on comp aratiyelv el
road oasis-like real estate-with ce-toin.,, ii
II portlonality, and uniformity IN a f.,r CO
ems oil property, ike the fran ,bise or all st
loneSed corporations enjoyn 2 the same tn
'i'iieges within the State, and on trsd .nd til
marrying signs of propert - pc
,iues OF buildings-they vii difrnss tban. fra
ives with unerring certaint y and eonaI;tr an
carry out this idea it tsp opposed Firy.
nat real estate, lands, an 4 build;rc. N ~
taxed on full and fair marie, Ia, Ai' '"
'n. seeond-That mo,heyed co-no-..:1 on
ID unincorporated deposit bankers sbai OF
taxed. Third-All Zeal estate sub;sc, :, EN-
nation shall be liable to supplemented 10
sessment of a sum equal to three ,;ma. .s sta
Mt or rental value of all buildings tbe,.o. I'M
ceptlng those belonging to the b.nk.r, VIZ
% corporations made subject to taxation lot
their shares or privileges. The build;ng .uel
eupancy assessment is deemed to be The ~
= sstsinabls and most uniform eou;r, 'ne