The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-12-09
NATIONAL BANK TAXATION,
Inequality In Observation-Disclosures
OF Taxation In the Various
States at Different Periods,

WASHINGTON, D. C., December T.
The following is an extract from that
portion of the report OF the Comptroller
Of the Currency referring to the taxation
Of National Banks: The Comptroller in
September issued circular addressed to
the National Banks, requesting returns Of
State taxation for the years 1874 and
1875, The assessment for 1874 had not
generally been made at that time, and
the returns Tor that time were therefore.
meagre. The number OF banks in opera
ton during the year 1874 was 1870, for
ty.one OF which paid no State taxes be-
cause they were organized alter the asses:
ment for the year had been made and
thirty.six banks failed to reply. Returns
were, however, received from 1900 banks,
having capital OF Sl7l, 900.
The thirty.six banks which made no re-
turns had a capital OF SIT, 100000. The
aggregate returns made 10 the Treasurer
in 1874 we're classified by States. A IA.
bic is prepared which gives the amount
Of United States and Stale taxes, and the
rate OF taxation in every State OF the
Union for the year. Similar tables are
given for 1857 and 1869, from which it
appears that the National Banks Of the
State OF New York pay the highest taxes
Of any OF the Eastern or Middle States,
the United States taxes Tor that State IN
the years named being respectively l.G,
&c, and 10 per cent, and the State taxa
ton 3.5, 90, and 30 per cent totals in
1867, 81; IN 1869 So, and in ISL, is per
cent. The corresponding totals for New
Jersey were in 1867, AZ; in 1863, IL; and
in 1874, SO per cent; in Pennsy lvania in
1867, 8; in 1869, 80; and in 1874,
2.3 per cent in Massachusetts,, in
1867 4; in 1863, 81; and in 1871,
"a per cent; in Maine, 3, 8, and 81; New
Hampshire, 3.S, Al, and 81; Connecticut,
ashland 30; and in the remainder Ofthe
Eastern and Middle States, more than .
per cent in 1874, with the exception Of
Delaware, which paid but LIS per cent
OF the western States the National Banks
in Ohio paid the following percentage OF
taxation; In the year 1867, 40, 1869, So,
1874, SO; in the State Of Indiana, for the
same years, the percentage was 81, Al,
and 3S; in Illinois 1t was As, IS, and 1;
in Michigan, So, 80, and IS; in Mis-.
souri,, So, 81, and 80 per cent; in Wis.
cousin, ~, 40, and Ill per cent; in Min
nesota, 3.3, ~, and So per cent in Kan.
sas, I.j, 81, and Is per cent, in Nebraska,
III, "a, and j,3,rer cent. OF the Southern
States, South Carolina paid 81 per cent
in 1869, and A. per cent in 1874; in Ten.
nessee, Al, .. 7, and 3. per cent in 1867,
1869, and 1874 respectively, and the re.
mainder Of the Southern States in 1874
more than 3 per cent, with the exception OF
Louisiana and Alabama, which paid 30,
and Of Kentucky, which paid but l.G per
cent. Returns we're also received from
the National banks in 1868, which were
not tabulated By States. The United
States taxes for that year were ", 69,O3S;
State taxes, 9i0,4jl; total, SlG,OlV,3S9.
An estimate Of the total taxation Of the
National banks for the ten years ending
in 1875 has been made, and table Of the
results is given in the report.
The Comptroller has heretofore in his
reports called the attention Of Congress
to the fact that, while the National banks
are subject to tax upon their entire
capital, which can be easily ascertained
from their books and not intrequently
upon the market value Of their shares,
other corporations, the amount Of
whose capital and the value Of
whose shares can be AZ readily
obtained by appropriate legislation, are
assessed at not one.half OF their value,
while private firms and individuals are
almost wholly exempt from bearing their
share OF the burden Letters recently re.
Ceiyed by the Comptroller from the Pres.
idents Of two principal banks,-one in
the East and the other in the West,-refer
to this greatest Of all economical subjects
in such plain terms that he cannot forbear
calling the attention OF Congress to their
suggestions. Many Of the shareholders
Of the National Banks depend for their
income chiefly upon the earnings of these
institutions, and it does not seem Just that
these thousands Of shareholders shall by
any construction Of law be compelled to
pay an undue proportion Of local tax. 1t
l. admitted that the law, as now inter.
preted by the different State courts, and
by Assessors and Collectors, il neither
equitable nor honest