, 1873-05-08


ton which taxes proposes to tax tho premium r.
% Pseaps Stoper a.
contemplated by tho Constitution, to bc taxed by
On tho subject Of raining taxes on property by vau-
aaires he Assembly 70 Proxilo the necessary
oporson ays1S L sx
the value Of his her or lts property."
pepey acos o. e @ n
which pcrson Inns tho legal ttlo' whether In po'7es-
erty IN .ho light md meaning Of the word, "a used In
The Constitution but a!py business name ueod @ to
rivcd by tho Company IN It's buslpeas tho sao % tho
word aaaes appY to tho money received OF to bo ro-
~
and many other yeras, eash of which arply l'yy
case named, and therefore used ID designating tho
services No attach valuo to "rcc.ipts" only when
tho word Is used instoao Of the proper or common
eass IN 10 hs
result Of business rather than for designating Tho
name Of property. Property is tue result of re-
ceipta, which property has common name-snoney.
When tho money is ncqured, absolutely nothing Of
value u left for rccairts Tho properties Of rccepa
or lis agent, and arc thereafter known rs "lands,
goods, Of money" as tho case may be.
IHG premium fGGelp8 OF hu lAEuf4nca company
anountto $4,000 In money, which amount we will
sumo remainod IN tho haiada Of 4 u, agent, on tho
first day Of Nny Having tue $40 900 o that day ho
must pay tax theveon Upon what kind Of property
must ho pny tho tax, and upon what amount II pro-
MUM receipts property tho agent shou1d list f0
said agent should lit 1000 in money Tho Inter
e;s ss s s4sJs wsa II s
money Is listed the 'pren,iur recerts loft With
out value. II they have no value they eannot 10 q
agent'had premium receipts Of tho Company and ho
aas %sn sRsat 81
othermoney-is tile reality, or property. The agent
should list tie property for ssxation and not TIN hc-
stcond-Itis is desirable to H,oaauso tho amount OF
money acquired dnrnF certain period o. Tine by
purpose Of obtaining taxable valuation.
II this principle Should bc adopted with respect to
Of business. II NO tax one person or corporation
whose business is confined 70 receipt Of money only
On al tho money r. received a by him Or II during th
carried on. Further, Il tho rrtneple holds good, 10
eoporseas to % pay % al s ha eat
merchanliso manufactured articles, uotes bonds &c.
TsfSsa nS% ap eS 70 h
property TO bo taxed by yaluato class Of os-
sons corporatIons would coHre| Tho saa principle
ef sHsa
thu word8 OF tho consttutIou} that caci person mud
corporation shnll pay tax In portion to tho value Of
il must DO plain TINT the manner and tino for OBJ
taint1g yaiuaons for a3ab1o rurposes 70 be uniform,
Another dl.nculty must arBe whom we attempt to
value nna a1 receipts 9f 9 companies
thc power iH vented In tic General Assembly 10 do
clare receipts TO 10 properly for tho purpose Of a1a.
Or corporation DO dec4red such and tue receipts
Of ohors held not to no 80 II receipts are held to be
cation law which declared tho receipts Of insur-
unless it applied equally 10 le reeelpta Of bankers,
havo en.eayorod, thus far, to show that receipts
lion Gy Valuation that IN order tax aSs tha legs
iston must be lls Declaring them ta1sblo property
| and not special In It's application.
1hfrd-1a tho taxation OF the premium receipts OF
insurance companies on the amount received during
! State, eyon II constitutional?
In this State cur pFInc!p!e Of taxation is n1ed BY
question: All Tcal and personal property is Liable ia
taxation Real property presents ITSELF to the plain
view Of Tic Assessor and therefore, cannot avoid ~.
being included in the value thcroof iH to conslcr
able extent usurable property That portion Of por-
Seldom eacapoa tho view OF tho Assessor II there
foro aafo to assume that tho property covered BY n
y5o prea Msnes
tsx say per cent as hhs been proposed, should be
placed upon the annual receipts Of all companies doing
busineaa In this State, 1t Wilt compel huch conpaniee
to add tho amount Of such tax 70 their charge for '
aurance. Tho plaln effect Of this would bo to cause
owners Of that caas Of property Ia this State, aread,
paying certainly not less than 1ts uat proportion o
taxes, to pay this additional a1, togothsr with thu
expense attendant upon buch indirect collection, and
sqbbsey III. o sau tG o y m ~
price charged The consumer IL, that from two so trce
| tlmcs tho amount thoreof waa added aud collected
There IL also further objection to this principle. Il
makes TINT portion Of The sifs property Of the State
wloso owlors cloct to guard agatnat enttre loss ol
destruction Of this property, by ANAL annual invest
snent, .pay greater portion Of a1atoi, than ever
othor similar tangible property woso owucgp arc no
| thus rrnyitlent
| Fanrth-Is lilo taxation Of tho animal roceipts o.
insurance companies, aud nut of other pGrso,s
corportions ali oluitaeo tar, regarslcas as to Nha
II we admit that tho law mRking power Of Bsata
may enact that rece!pta shall 10 deemed taxable
property does 1t not follow that the principle must b.
Of goreral and not Of special app!!cation7 Tux laws
In 10 81
Whom ws admit that 1t IL legitimate 10 tax tho annus