The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-21

ing Fisk's day they were not allowed to interfere
with legitimate business. He stood to his speech
as calmly as a pilot at his wheel in lair weather
against questions OF order from the opposition
and never ninched, even when Governor Robin
He was determined to be heard. and as the hour or
dinner was nearing Senators saw finally that they
would get through sooner II they let this deter
mined Lord have his own way. The following Is
THE RESOLUTION.
Whereas the late in the last hour q ts SEES
IS% 3 to $1,000 salaries
applicable q their term Of two Years which had just
pred thereby enabling each member 10 take from the
yded BY law, under which their services rendered
Resolved Of the Assembly concur, That this Legisla
ture In the name OF the people OF the whole STATE &c.
q the people now overburisned with grinding aad OPP
be ana
Their hest efforts to the IN repeal of
sOFTENING IT DOWN.
Senator Woodn moved to amend by striking out
the part relative to the President and his salary,
OF the democrats and liberal republicans being
itaicised:-
YEAs-Adams, Baker, Benedict Bowen, Dickinson,
son %Usa sns %s Perry Robert
N4YsAusn chs.aed, tOes, Foster, Harro~sr, johnson,
AMENDED AND ADOPTED.
s ~ T. Woo % .men mSved 20 strke ons tne
OF decency and integrity" which was also carried
by stlict party vote The resolution, as thus
amended was adopted without dissenting voice.
In the Senate tonight the bill to establish
MUNICIPAL COURT
IN the city OF New YORK In place or the Marine
Court was discussed in the Committee of the
Whole Senator WOodn favored 1t as doing away
with long array OF useless clerks and hangers-on
and substituting an economical court that may be
kept aloOf from the influence OF politics by the
reason OF the Judge being appointed instead OF
it, the latter on the ground that it was putting
one devil out aud seven devils 10. Finally, as
Senator O'Brien was absent and had desired to DO
heard on the question the bill was progressed.
THE MEMORY OF THE GREAT.
second dist T man or :" whom Statue had
been presented to the Capitol at Washington was
discussed at some length, Senator Palmer propos-
Ter. Benedict champiOned Livingston, and calling
readily upon his memory, recounted the history OF
Wood suggested the name OF General James A.
Wadsworth. one OF the political brigadiers
OF the down. Senator
Morse, but it was also lost. Senator Lewis sug-
gested the name or "Red Jacketn which was Car.
Senator Sem Benedict s that "Red Jacket was not
citizen OF the United States the vote was recon-
insert insert IT" the ,0' name ne Of General Schuyler
was thereupon carried. but on recon.
sideratton the name OF Livingston was reinserted
and thus remains. The bill was progressed
EXEMPTION OF BONDS AND MORTGAGES.
The question OF exempting bonds and mortgages
from taxation was the special Order'' attraction
in the Lower House this evening. The discussion
was very interesting one Messrs. Jacobs Voor-
empt idea. MIR. VOOrhs made a vigorous speech In
ADVOCACY OF THE MEASURE.
Bonds and mortgages, he said, should be exempt
because within five years the additional taxable
property, by way OF improvements upon real
cages. TO iiG strate The personal property as
sessed was sl7, 10000 in round numbers Now,
to ascertain what amount OF that Is assessed as
how much personal property we can find
aside from bonds and mortgages. He then went
estimate, say sll2 1850, 900 National Bank capital;
surplus, 81, 636O00; State banks $l6,999, 900;
ara ana mrae
All this is taxed as individual property:
The railroad personal property is rated at
pertation and navigation companies, $32 500, 900.
The miscellaneous property taxable, as estimated
mates as Were was made $685. except sSss ea ns
national and State banks capitals, which
FRI Is ha tine above sank IT.
1889 thirty per cent for increase in ave years This
ducted rom the SAL 600 personal tax for last
year. leaves us balance Of $82, 600, 900, which we
assume to be bonds and mortgages now taxable.
II this amount Is exempted from taxation 1t would
about four dollars and nity cents. Now by
Of extra capital within five years would be more
than $62, 100000. The advantage would be three
second the Of re shoe
third, the money left in the State for other bust
ness purposes But let us come to the merits OF
bond and mortgage that, in fact, the property Is
in the real estate alone. Let me illustrate.
I purchased a house and lot in westchesrer
county for $4,000 and held IL for about four years.
friend OF mine occupied it with an agree
it by deed my friend paid me interest
on my deed About two years ago decided the
property to my friend for $4,000, and ] received a
bond ana 0 the Whole %
and have paid tax on the mortgage. Now, why
should pay tax on the mortgage and not on the
were the house and lot. The deed is not property,
n sSdne ts the the one pays tax 50
H in both cases. The case is paIn rrotp sers
is but $1,000 worth of property and
yet my friend is taxed and am also taxed, making
us pay on ten thousand where there Is but five;
where mortgages are held. Therefore reasser t
that we must In justice either exempt mortgages
we must at once tax every mans deed as well
as his real estate, for property is held as
II we deternne that there is Properly e in ' the
mortgage W, must surely by the same reasoning
determine that there is property in the deed. Con-
be just and tax both
THE BILL DEFEATED.
vote to confirm the operation of the law to
certain COUNTIES and not to the whole state was
taken on the dose of the discussion, and lost
by vo.e of 70 70. The final vote on the passage
oil the bill resulted as folOws:-
THE VOTE.
YEAs-Messrs Abbott Alberger, Beebe, Bign, Blackie,
Blessing, Blunenthal, Burns Campbell, Clapp, Clark,
Cochue Cook, Cornell Crary, Cummings, Deerfng. Den
nsOn, Donoht, Fort Hayes, Heacock. Heaey Herring,
Higgins, , ailiyer busted Jacobs, Marcy. Norton.
Smith, suydan, Van vaKenburgh VOORHEES,, Watt, Weed
West. Whalen Wight, Woodsworth--4S.
NAYs-Messrs Bsbcock, Badger, Bacbeller, Brewer,
E. +. Brown, II. Brown Buckley Burritt, Carpenter,
Coggeshal, Ope, Costello, Couchman, Crandell, Craw.
ford, Davdsoy kltins. Fish, Finn Foote, Ford Fowler,
Eurbeck, Ger Gilbert Co.'S, Griffin, Hardy, Hardee,
Knettles. La aeld, Lewis Lincoln. Lynde, MacKin,
Marley, McGtre, Moore, Moher, O'Bren Person Phil.
lips Philpot, arteous, Ray Rsynor, Rice Rose schoon.
Te rose townsend van wqp emsiI
yandusen, WI. vandusen. veddir, Walker Wells n A
White Ycomns and Young-73
An attemt was made to have the vote recon
sidered, butt was voted down. so the bill is now
deader than door nail.
EIGTH AVENUE RAILROAD FARES.
Mr.. Deerin endeavored this evening 70 get The