, 1875-08-27
Eiessrs. Derlckson and Whitney Strongly
Favor tho Proposition.
Tho Judicial Functions Of the Board
Considered at Length.
Postponcmcnt OF tho Matter Till
Wednesday Next.

Attorney -General was requested to come bc1o'o
tho BoArl and ex, rcas Lis yiows orally; was
adoptsh. .
Immediately after which Mr.. Whitne5's rcso-
sion, mxdn tic silceial order for this n'orn-
Ing, cann up. IL requires that III
tho assessment ol capital STOCK OF
corporations tho Committee on Capital Stock
arc hereby instructed TO exempt from such as
eensu,cut tho capital stock of all companies md
ASSOCIATIONS organized for purely manufacturing
p,,rposes OF for printing or for publishing tcws-
uspcts. Or far tic improvement and breeding uf
s,ock. pursuant to an amendment to IN act eII-
titled "An oct for the assessment Of property
Anil for tho loyv and collection Of taxes," ap-
proved MARCH, 5, 1A72, parsed by tho Twenty
ninth Geueral Assembly, nna. approved April 10,
1876.
srErcn or MI. nEnn1C.s1N.
Mr., Dssickson obtained lilo tloor and said:
aIa. t'HA1RMAx: ] dn uo$ purpose to occupy tho
attention uf this Board tuoro than few minutes 1t
this times my oblett being merely to unea thu its
rurrfop, anA levy tlv hlnin arrangement fur Air.
r % se,s .,e ,ne vsnsrsl law M assessing tho cap
al sock uf corporations further than " chArnrtcrLo
It ~ VIC "f Tho lnos nnfortnnnts provisions o. rove
ths State. LII ifn rrsIts IL rentE 1He OF the tallo
Ut the dog that by fortunate continuation Of ctrcun
R!accs had become Es,eaesscd Of largo l'ece Ut
meat. entirely sufficient for present need, ar with
Lc 1urat tn his mouth. was trotns atonR perfectly
hnIjfneess and sun'entn,cnt, unfortunately, he
chanccd 10 sIy tho irnagc Of !sttlf With the 1cAt re-
1lstaktns the shadow for the substance, and witlut
considering tho consequences. with nore SaloF than
discretion. he srstSiIy rushsI win open mo- mouth to
The story goes that IL: rot not ajng from thu shadow,
and IN tic operation iost his rtess of meat.
BIZ property, real and personal worth ata cash vsl'la
tim tJ0uJt0 OOu. ralkiHR In this RESPECT, fourth In
rSTity M % owing 3 q tro n.turaI advantages Of sui
aud climate. Ind ttle economy, Industry, aud cncrEy
e her ope Endsr tho sars 70, sa y, p1ss.
grand State Of ulinus corporations aul associations
fur agricultural, 1.as,fu turiug, mining printing.
which inttvtduals with small car!tal combined to-
g"her, and tbuh teeurcd to themselves III neahnro
itu!. hut great tho benefits Ant advantages may
have boen u the Individual members q aoskhodsrs
Arc vastly more profitable lin people at largo, for
Tiny bring into o!sr siao Of 1!!Inoia millions Of DOL
s rGa sn I'LL es ast ~eh 81
gibe property for taxaton unfortunately chaueed 10
tIy the shhd0w Of ca,ita btock Of corporations, and
through her Legislature, ,stakiDg the shallow for tbs
substance, without duly considering the consequences,
aud with moro zoal than d'sesetiou reached out her
hnn to grasp also thu intangible. Tho leston Of The
f.hlc ia repeated ia truth demonstrated. The State
Hea reyenuo trum the shado~, &utl III the ol'era-
ton, by mtans Of iawsuits tuattnerable. which she
does gct loses tho rcYsnao derived FROM the tangible,
alIrchena TINT her cancea in the future for doing
20 will grow smaller by dcFea ana beautifully tss a.
uursun nut thcso REMARKS arc not pertintut to tho
Tho question, ] aheouly question, for u to settle
It this tiuse is Ehat Ia t'e duty Of ha board under
the amendment to Sec II the ovenue law adopt
Legislature I'D undertake 70 uutlify Of amcua tno
fourth clause Ut Sec >, aud from this fact 1t nui
GENTLY .e.5s tut they xsrs @ nut 's.oa viii, its
bude,i IN the rEusttun whIch Will rad:
provided, further. that III ahses'nR compansta
and associations organized fer purely manufacturing
for printing put liAhiug Of ngwsIaIrrH,
,r The improving aud lresiins Of stfxk. she as
uciattolls urgaAlze shall only ho ssssatd i
dsldhass under like rc1nhtancsx wuau be asac#st
aud ,nore, AUD such eun.paHIus and associations
shall lp allowed tbs s2lna deductions ~ AEe allowed to
inillShuals.h
And now there appears to DO at least hrco orlnlons
10 what ths Legislature netf<t to accomplish, Cr
i'll rrality iast accomplished. hy lhts amendment:
tua a.The Atsornry -osuefa! Ia rosponse 10 ro.o.
ain.n.nrnt adds fl.lture to tie original law
npr ti,oihsa it, provisions in any way. but lAcrety
eufhasizeh principles bsfo1e enJoncd.
oeeona-lAero " larty Win, assuming that Tho
aEcndmcrt lnealx Just what s worda express, nasnp
H. ihss curtain glasses Y co1ios4t"us tLessiu ns9.a
~ their otnion lust tho amendment u notststtYe be
e.a.S T. sonec.a wy. ~: Provision oi .ls Gn. T.
uniform an Ia ti,e c!ats ulon which It oIeraics.
, I%',d-Anothrr laE'y e.rrea.s .ho opnon, Which.
Iseshnsl viii Ut lAa legislative authority mud It
III the ntaute-book. aua, aadniuuy that tho Lesista
4 " a u xa 81 ssu u u .s
cont,1ucosi VI tue urti,ry ri.s f0r coustruux thu
ftKE'ni angnaK. a1llt! s,5 auy Intelligent blsineas
After carefully Tsa'sihK ilto uptn4 uf the Attorney
dc,.sa several t!s. !. aesis to mo That Ae rs4de.
tsue sforu this lar.l. lu iii cu.,lsx tho question
merely treats Of general srnei1ea hrrstoiore by us
Iio rntifSy Ulnita In ht4 written opinion any az.
plaiatiou. aald faa even 10 at>tHl+ 10 caplu. why
apeak of !xrrorath III II srnt raj trrEt. or
Why they hays t1ec!hcal,y rsis4t,d enrlutattos tr
l"fIy manufacturing, rrIlistng. Publishing. ant cut
lid us iesisat,To author4sy q. tho s.ato intcn to
Gsn suy Immunity to thu.b ells"e" VI corporations
ursgnaiuly Did il nteud u tnass \ distinction Ia
twren .h.sc and ether classes Of corporations not des
tsna,Y ihes!sao not tu nay IL did; II ItL not,
The Itussirn IL thu mercat Aunseute+ Wlat w1s thH
ila.nu.ty7 Clearly, my lalud, that Lvy shou!a be
tAoAt from assssainsit q" their rsptal sspk aa1 ~
atstasc liYnl12lA asAesxed M their tsugiGls
pfnI4rIy. aua IN thr1r tai Ktl!D pruptsty oh!y.
but tbc representative man Of tha seca'ud party
stands shd thai, if ihis ass caEstFuet1pn IL
thv alneualuent tua tsstiEr because wuuId 10
constitutional IN sh,s !, would destroy ts uniformity
Ar. Chairman, iii. la4t proposition viii not here
nndeftAka To dltc'H'. u " tuoagh for " tu knpw
sy.aed " the speaker ths Hours tlv President q
the HtuAte. approved - thc Governor, aud EFosali
.hs Z I sa ,as usy u IL .s Sa
snd to the courts u GULL stsnt Jurisdiction IT, coI-
lnuw III peculiar character Of lhia Board Il oftsn
gtuktn u, aa1 arGunlehta ata ksuH projected NJ
ftoIu u! sides. though LeH1lAturs aud
tcsl,unAlhla for tho law; ald agnn, though
court coinletsut 10 desrAs III coustltutinua!1ty.
Even thu snI Tels Cnult has isid sou thiuHs ALout
II. ls9isla,Ys md judicial functions. Du4 st us uot
10 prrxuIaptuuns. Our lrg!slt1ss an1 our Judicial
functions limited ard cse!Y dtnsd by ths law.
Uur legislative tunctai. Il limited tlu Aiutaion
Of rules foE dtte1.rMx stu value oi capital ptoek
and vhen ~ h4ss s!oltsl sarh ruiz. our legislative
authority IL 1t Al. e!d, except that Ss may aeua aueh
rules ttGiu time ~ tlIlu tua3 4srlu }u.t.
uur judicial function IL naiiea by ths law " ths
dsser,Gni12 Ut t4o PSF ec. 10 Is died to taken
fsu It's aasssxod uattun III arriving 1t just tpuA
atacon Lesx%eu the counties aud between cl4s.es Ut
pEotAzty u Istetuus what u the as&essats ssIus Of
TxirAd FspeFty AID VI the capital stock VI Cptpurk
tIuha, including tie fsuntlse, Mhen tAls has teen
ule ths limit Ut ahs Judicial Mucau Of ahls Ai.sd
has ohen sn4eAe1,
The ss,as aathorty which provided tho Asseuua
hs aaa ns ata*ndn4unt tAsreto uutsE conk!arr4aiol
provided for our Lang also.
!. soald tA1nh. u ispsrtnont for u to turn
AROUND sud saT " SUI authority: "fou have mA1e
~ stanaao " u II .snis Ax which you Ne Ilsassd