The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1881-02-10

The New TaH Law
There i considerable discussion in 70
gard 10 the meaning u the nes listing Law
We quote what the Burling,on FSee Pre-
says nn tho subject
"a correspondent writes us that ~ b.
reads tho .cw tan law, itallowsa dedsc
ton for deb, owing against real estate, NJ
well as against personal property. We Dc
not see how any one can 80 understand th'
Law. All Of tho old Law permitting de
duetion for debts owing against persona
property. hut not against real estate
stands, except such portions OF Il as ar,
Inconsistent with the new. Unless, then
clause can he found 10 the new law, ex
pressly extending 10 real estate the offset'
permitted on account Of debts owing. th,
old law as regards real estate viii stand
We can fnd 10 such clause in the new
law The new law, however, modifes the
old in regard to offsets allowed against
per.onal property, by providing that nc
dedustion shall be made, unless the tax
payers statement includes detailed state
men, Of the debts for which he claims .
deduction Our correspondent says that
,he new law contains no word tina, init.
mates that any limitation is 10 be put up
ON the amount Of the debts allowed to of
st. but such Limitation is contained in
the old las;--and not being inconsistent
with any provision Of the new law, tha,
limiifion still stands. II does not seem
10 us that there can be any reasonable
doubt on that point
The Woodstock Standard has the follow.
ing:
The no, past by the last Legislation To
'olualizs taxation is just now the one sub.
iect Of diseussiA throughout the State.
Naturally enough there is a great deal OF
Wild speculation about the matter and
many are doubtless building their hopes
altogether too high with reference to its
ability TO accomplish the object intended,
81 tho thing there will he no trouble We
quoted las, week a decision Of the two
highest courts in New York upon the ques.
tious involved that may help TO correct
opinion. These courts say that property
located 10 another State cannot be taxed in
Now York. although the citizens Of that
State may hold evidence Of interest in that
property, 1t is hardly to he supposed
that the supreme court OF the State OF Yer
mont would bold differently in case sim.
liar to tie one heard in New York. "
"rhe question comes to this, that every
dollar OF property invested in the State OF
Vermont is taxable within the State and
should bear its proportion OF the public
burdens; this is equal taxation. But prop.
erty located in other States, although own
ed by citizens Of this State, cannot be tax
ed here AS to government bonds the
State cannot require the holder TO enumer.
ate them or state how much he holds, al.
t',ongh il may refuse to grant him offset II
lie has money Invested in them. They are
not taxable aud the State has no control
whatever over them. A quotation from
Chancellor Kent may help some to arrive
al correct understanding, He says:
"The right Of taxation in the State ex.
tends 10 al subjects over which its sover-
cign poaer extends. and no farther. The
power 10 tai would involve the power to
destroy, aud the power to destroy might
defeat aud render useless the power TO
CRATE
There IL q deal Of nonsense aud prelu-
dice siiug ID regard 10 tins whole subject
aud our only object is to inculcate just
views. We woull no, have dollar escape
tlia, is justly liubl, 10 taxation aud on the
other hand We shonld be just as careir'
not 10 TAI any cue unjustiy
III woal b. extremely unwise TO !, The
State 81 Vermont, or the listers in ,he sew.
eral tawrs. to cutter upon a cruss AZ aya,ns,
a Glass u ciiizens whose ent erprisA and
ability musi seek some large, AHA tor an.
ployment IN ST Alhans, u,,;,o,on Ru,.
land Bennington, ~. ,ob,.bury Wood.
h'"eA Ana o'aef !" ans these men reside
anu "A''i ''A''e their money and bless
lhss ~ ''efs form knoxA TO wealth and
'''p'' geo rous impulses Already they
pay cry heavy proportion Of taxes and
'"V fully contribute TO all worthy local
lierpfises. The demands upon their
purses are loud and never oeasing and il
is unlues,iouably true that they pay lar.
ger proportion Of the public burdens than
any class Of citizen. Nov il II is propos-
Cd 10 20 beyond this and levy upon their
property in tslegrsphs. steamships. rail-
roads, mine. and manufactures in other
States. property over which the Stale OF
ycrmoni has no Sovereignty whatever.
and thai never va. IN any degree the pro.
due, OF the State, Iii will prove the meet
s,upendous blnadcr ever undertaken. l,
is corporate suicide. We siAll drive away
all these men add shut the doors Agains,
all others Of their class We contemplate
these things with . great deal Of misgising
and trust thai good ooansels viii prevail
10 the construction and enforoemen, Of
our new statute. There Is but one safe
and Just rule. We care not vhs, mar be
4 q u "a