New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-05-03

pay on the salable value of their stock.
This will impose discri mnattng and multi,
Piled taxation on corporate capital, AZ compared
with like disncorporated capital en- poyed in the
same kind of business. Every title which is capa-
bic of being transferred by delivery or assignment,
is capable of private ownership. IL - dlhlcut 10
conjecture what, If any, limit can be placed upon
taxation by judicial Interpretation of these con
stitutional rules defining imaginary property. III "
is suggested that stock of corporation LAY ne IN
terpreted to he uu6aXablc because II represents
taxed property, it may also he suggested that the
same rule of Interpretation will require credits not
to be taxed, Cor they are also representatives ol
taxed property And thus the whole system of tax
ing " fat" and hocus-pOcus property must stand or
fall together. Ii seems. however, that the system
under consideration plainly intends 10 tax general
credits and also the property which they
represent: leasehOld interests as well as
the land; wheat and other commodities
and warehouse receipts issued for these coinI0dl-
ties the cargoes of vessels and and the bulls OF
lading; the property and dues of anewspaper andls
goodwill. aud transferable stock If its capitals
divided INTO stock-shares and all capital and prop
erty in business and also the goodwill OF the Dusl
ness, down to the goodwill of peaDut-stand be,
cause all these matters and things are capabie Oh
private ownership" Every form of title In property
may have in turn other titles based on II, winch are
capable of private ownership end thus through the
agency of fiat property and hocus-pocus title prop
eTty, the actual property may be taxed az itmfam;
And thus the chief end of man in California VIII
consist IN watching assessments and paying taxes
OATH-EXACTING, INFINITEsIMAL TAXATION PRO-
VISIONS.
The new Constitution requires the Legislature to
levy an annual poIl-ax of not less than - on malo
inhabitants, and to exact a sworn annual state
ment from every person of all his property. Inc
persons subject to this annual examination ana
mouisition will include all adults of both sexes
capable of owning property. The number of adults
in California is about onehalf of the entire popula-
ton. and will amount to more than 100000 Ill the
City of San Francisco alone. This grand army from
palaces and novels must make an annual pilgrimage
to the confessional of the assessors; and then on
subsequent day in the year must march
TO the tax collectors office, and llqudate
the claims Of the State and its mulicllaI-
tiles This is the most itesima Cbectlon@oe
and veXatiOus system of taxation ever roppseu' OF
which we have anv record. No parallel 10 II can De
found even in feudal times. In England IN INC
reign of Edward ILL.,. all kinds OF tangible properly
were subject to taxation, and pOll-tay was also
imposed but the persons subject To The poll-tX
were taxed as ful-dressed including the SUIT OF
clothes on the person at the time. but TINS Ia" was
found be too Odious to be executed ana was soon
modified. The California system, II aoopled VIII
impose the pO-tax on the taxpayer L. his priml-
tive state, and will add supplemental tax on
every dollar in value Of his tangible property oil
every class, and on every item IN quantity
without any reduction for debts. II he owns
nothing but shirt, or has ono III MS possession OF
under his control at II o'clock meridian on the Isl
Monday of March, =" he must make . sworn statement
of IT, and be examined and catechsed by TIE asses
sor This Is Utopiau, and any attempt 10 execute 1t
Gesnotism or a free government. In the City of
NeW-York less than per cent OF the population
pay a personal tax other than on bank shares ana
in none of the States the number of adults large
who pay personal tax as COMPARED with the total
adult population. III the most advanced CONNER,
cia countries of the world tine taxation OF personal
property has long been abolished and vet III race OF
this experience, California now proposes 10 attempt
the extremely jnpractcable qnd impossible. Col
bert the French statesman, SAID that tn" secret OF
taxation consisted in picking the goose WIN inc
minimum of squalling but this California project
would produce the maximum OF squalhnS Wlth inc
minimum of feathers.
CONCLUSION.
Every person, under every system worthy the
name of taxation pays taxes exactly in proportion
TO his aggregate consumption; and he VIII pay
these taxes secondary, or by percussion or roper
cussiOn although he may not consume single ar
ticle that has primarily been subject to taxation
If he pays on greater amount of property annu-
ally than his aggregate consumption, he VIII charge
over the excess 10 those who levy and consume such
excess. If he pays primarily on less than his aggre-
gate consumption, he will pay secOndarily sufficient
to make the burden equal to Others on his 2ggre-
gate consumption, in the form Of dihused and re-
percussed taxes primarily paid by others ON the ar
ticles he consumes. In England the local taxes are
exclusively imposed on OccupeTs OF real estate, nat
this form of real estate tax Is evidently dfsed on
all kinds of personal property, manufactured, trans
ported or produced on land and Is distributed by
the natural law of competition. l. Is lmpIactlcaOle
TO attempt to tax everything Just at the point OF
consumption. 1t wonld rcqul au asSesso rand lax
collector at every persons elbow all the time.
Therefore, all experience has show that The science
of taxation consists in moderately taxing Few
tbinrs-propertv of the same CLASSIFY rule of uni
formity, producing an oG1ai burden ON all m l,1
date competitors. IN primary taxpayer VIII
fhen advance the ta!, bat will be reim-
bursed and at a prot for he can, can always WAYS
by the same natural law which enables him
TO reimburse himself tor his rent other expenses, or
cost of his commodities: for his immediate COM
peitors in the sale of the same class of goods viii
be hurdened with like AK, and therefore cannot
underscll him Taxing III block by the rule 81
uniformity on the same and competing claSs', OF
property owned by residents or non-resdents within
the taxing district, Is therefore convenient and
economical method of making primary taxpayers
dealers I'm taxes and sub-taX collectors, as manu-
facturers OF wnis6ey and tobacco are now made
such, under United States Revenue laws And de-
tailed or iuiinltcsmal taxation, like that proposed
I'm California is therefore wholly unnecessary, eX-
pensjve and vexatious. DAVID \. WELLS.
NOytcich, Conn.,, April 80, 1879.
A u p HEEI IA JkL