Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-02-04
TAxATIoN OF PERSONALLY.

Legislature IS IN as feA q QuanQafy
as ever about the equalization of taxes
ard the assessment of personal proper
ty. They have appointed a special
committee on the subject Of Tax Re-
form, for whom Geo. II. Andrews, d
Tax Commissioner Of New York City,
has collected a number Of typical cases
Illustrating the present system. One
year when the personal tax showed a
frightful deficit, a list was prepared of
all members of the ~aristoeratic clubs,
whose names did not appear on the as
sessment rolls. The list numbered 435,
and the commissioners assessed each as
worth $4,000. OF the whole 435,
exactly three acknowledged any
personal property at all, and the
city reaped only $3.50 on this
aggregate assessment OF s .350,000.
In another instance, a man assessed for
SIS, 900 worth of personally had the as.
sessment cancelled and escaped all taxa.
ton by swearing that he had, within a
week, converted all his personal prop
erty into United States bonds; that he
did so for the sake OF escaping taxa
ton: and that he should Ieconvert
them into taxabl, personally as soon
as the danger of taxation was over.
Mr.. Andrews made up a list of twenty
six persons, each holding 100000
worth of personal property, and the
differences in their taxes. It showed
these remarkable facts: A owns $780,
600 worth OF imported goods on which
he pays 10 taxes; B OWL $780,
000 worth Of miscellaneous goods
and is taxed heavily; G has
100000 worth consigned to him and
pays nothing; D holds 100000 in
stock and is taxed; Z has 100000
worth Of goods, manufactured in New
Jersey, and is exempt; F's stock, Of
equal value, is manufactured in the
city and is taxed; G has a third stock
OF the same amount, for which he bor-
rowed capital on Government bonds,
and he is exempt; H sold his bonds in
stead Of borrowing on them, and
bought 100000 worth Of goods, and
he is taxed; I owns 100000 in ships
plying between New York and Boston,
but registered at the latter port, and
pays nothing; is ships, worth $780,
900, ply in the Pacific, but are
registered and taxed in New York,
K has a mortgage Of $780,
900 on New Jersey property,
and is exempt; LIS mortgage Of
100000 is on New York property
and is taxed; II has 100000 IN money
in his pocket and pays no tax; n has
his n a bank and pays taxes on it; o
holds certificates of deposit orSl00,0 900
in the b-Treasury and is untaxed;
P's certificates are IN a bank and he is
therefore taxed; Q has $1,000 in
specie IL the Assay Office on which he
pays nothing; r has The same amount
in his safe and pays On it; S holds a
check on the United States Treasury
for 500. 900 and is exempt; T holds a
check on a bank for 500, 900 and is
taxed; Z and Y have SI0O,00 IL Treas
ury and promisory notes respectively,
and Z is exempt while Y is taxed; W
and y have $1,000 in Federal and
STATE .or city bonds respectively, and
W Is exempt while Y is taxed; Y has
Government certificates OF indebted
ness for 100000 and pays nothing;
and Z mas private certificates Of in
d-ebte5ness for the same amount and is
taxed.
1t viii be noticed that the exemption
Of United States bonds and ali other
evidences Of national debt, is the main
disturbing element, SO far as surface
appearances 60. Yer it is easy to hide
other securities and evidences Of debt,
unless their validity be made dependent
on registering, in which case the asses
scr could track them upon the Regis
ter's books. The principal difficulty
exists IN cities, where wealth assumes
It's most concentrated forms, and can
be easily hidden. There Is little trouble
in getting at the farmers personally,
live stock, etc. They talk in New
| York Of abandoning the effort to assess
personal property, as practically i'm
possible, and workinginjustice to those
who are honest enough to acknowledge
its possession. This would throw the
Whole burden Of supporting the gov
eminent on real estate, asystem which,
we need hardly say, would not suit
Tennessee, IN its present condition
at least, though tao New Workers
may be able to stand it. Some
argue the impolicy Of taxing money,
in any Of It's forms, as tending to drive
it from among US, and say that money
but represents accumulated industry
and thrift, virtues which should be en-
couraged instead of invoking penalties.
Ingeuiously IS this argument may be
put, we cannot close our eyes to the
fact that personal OF movable wealth
requires from government double the
protection that realty calls for. No
man can steal a farm, nor a house con-
venien5ly. But money, jewelry, plate,
stocks, bonds, etc, are the prey of the
prowler. Hence the necessity for in
creased police vigilance on the part OF
government. Society protects only the
person of the poor man, because he
has nothing else. Ii does very little
more for the farmer because his main
possession, land, cannot be whisked
away. But the man who holds person
atty, constantly needs protection for
ms Droperty as well as his person; in