The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-03-02
Ghe9ntelIiaetreer,
The Prohlem of !TaxatIon.

ulAul utHSt AtHhSai euA SuHeNAha PAt'A
sion requiring all personal property
such as money, credits or investments
to be listed in the assessment district
wherein tho taxpayer resides, no odds
whether the money, credits or invest
ments arc in or out of this State. Under
this law our Auditor has ruled that par
ties residing in this State and owning
personal property in Ohio, or any other
State, such, for instance, as stock in q
rolling-mill, glass works, blast furnace
or any joint stock concern, must return
said stock for taxation in their assess
ment districts in this State, nOtwithstand-
ing the company has been assessed and
paid taxes on It's property at the place
where il carries on business. Under
this ruling every citizen Of Wheeling who
owns stock in tho Etna rolling mill over
the river, or in any Of tho glass works at
BellairC, or In the Nail mill aud furnace
down there, Is liable to pay taxes twice,
first to the State of Ohio and county Of
Belmont (through an assessment upon
the Company and second, to the State Of
West Virginia, the county OF Ohio, and
the city Of Wheeling, through an assess
mcnt upon the individual share holder
This has been the ruling Of not only
Auditor Bennett, but OF his predecessors
for years past And both the law and the
ruling have been made in the face Of Sec,
tion lst Of Article X Of tile Constitution
Of West Virginia, which says in so many
words, that "all taxation shall be equal
and uniform throughout tho State, and
oil property, both real and personal, shall
be taxed in proportion TO It's value, to
be asccrtained Ms prescribed by law"
Itis we'll known that citizW Of West
Virginia Who owns real estate in Ohio, or
any other State, is not required to return
1t here for assessment, WhyP Because
It is taxed In the State and county where
it tissituated, But 40 also Is the property
that We have been speaking ot--vizi the
mills, glass works, furnaces, sc. The
shares in such property uretaxell at tile
place Of location in the shape Of m is
sessment levied upon the real estate and
personal property belonging to the compn'
ny. Why then, when the Constitution Saya
that "all taxation shall be equal aud uni
form throughout the State" is citizen
Of West Virginia taxed on his invest
mcnts in these concerns, when II Is con-
Ceded on all hands that he cannot be com.
pellcd to list his real estate in another
State2
We refer to this subject at this time III
connection with an article from the pen
Of the Hon, David R. Wells in the March
number Of the Atlantic Monthly which
undertakes to show that all such taxation
Of personal property as we huyC referred
to ia unconstitutional, lie quotes the
opinion Of Justice Field, Of the Supreme
Court Of the United States, III a certain
case, who held that property lying beyond
the jurisdiction Of a State u not a shbjcc
upon which her taxing power can be
legitimately exercised. Mr.. Wells holds
that n State has no right to tax money
loaned outside Of her jurisdiction. There
fore all deductions by banks out Of divt
dends uccruing on shares Of non.resident' ,
are unconstitutional. lie holds that al
loans arc contacts; that'a tax on a loa'
increases therate'otintere't and oppresse
the borrower; that The borrower reall!
pays the tax, no matter on whom It /
levledj that BY the exercise Of this taxilll
power the State can eiEectually Sliutoi
all non.reSidcntS from negotiating loan
within its limits, and that to do this Is II
effect to prohibit commerce between th'
States, and IL therefore unconstitutional
II the power to lay the smallest tax on
loan to nonresident Is conceded, y fol
lows that a tax 30 oppressive as 4
amount to a virtual prohibition Of sncl
contracts is also legal and constitutional
The position Of Mr.. Wells is that W
must tax "tansible property and tiSet
sinns n npnhaptv. like real estate, In StiCl