Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1882-10-06

The present inventory law has nearly
doubled the value Of taxable property in Yer
mont by bringing to light that which had
formerly escaped, and by an increase in the
valuation of that hitherto taxed. 1t is not
reasonable to suppose that under the present
law very much more property can be reached.
| II, therefore, il can be saved for the purposes
of local taxation, and revenue for state pur-
| poses secured from sources now escaping all
taxation, the burdens OF the poor will be
| lghtened, and the rich will have no Just cause
| for complaint in a change made from persons
to property. To better Illustrate the idea,
| wish 10 call attention to system in vogue in
many states
Massachusetts is the most severely taxed
state in the Union, and yet her people feel
| these burdens less than any other the poor
hardly know of such an officer as a tax collec-
| tor, because property, not PERSONS, support
the government How has it been possible
to pay their large war subsidies, to spend
| $50, 600, 900 upon the Hoosac tunnel, many
| millions for other railroads and internal i'm
| provements quarter of million annually
| for her militia, and still keep the people hap
! by and contented and without fear of the tax
| gatherer? The answer is simple and reason
able, viz. BY discovering and taxing large
| interests hitherto escaping, the machinery for
| which is set in motion and controlled by a
tax board consisting of the regular state Off
cials sitting at the state house.
In 1864 a law was passed taxing all corpo-
rations / 4 per cent on the market value of
| their shares above the value of real estate and
machinery, returning 10 the towns the sums
| received from local residents the state retain
| ing that which belonged to non.residents, in
| Guiding the portion which formerly escaped
taxation. This tax was at first resisted be-
cause of its supposed unconstitutionality, the
| particular point being that all taxes should
be 'propOrtionate and reasonable and not
arbitrary. The constitutional difficulty was
avoided by making it franchise tax, the
supreme court holding that the franchise was
a commodity on which an excise could be
! levied. The first years trial of this law gave
| to the state 500, 900 and to the towns $780,
| 600. 1t thus appearing that rich mine had
| been struck, the law was strengthened the
| following year, all corporations in the state
| being organized, the tax board created, and
everything placed under its management and
| control and under the efficient management
of this board more than a hundred million
dollars has been gathered, twenty millions be-
| ing raised from the savings banks
Apply this principle to National banks and
see whether any more money would be raised
| than is obtained under the present plan. 4
single board would fix an equal and just valu-
J alton, while atpresent the 24l different boards
| of listers are at liberty to adopt capricious
and uneven values. AS an example, stock in
one of the best banks is rated at 50 cents in
one town, 100 in another and l40 in still an
other and neither of the sums is correct
or Just value. About five millions of money
have been gathered from this source under
the operations of the board that would have
otherwise escaped.
That such a law in Vermont would be pop
| ular at first is not TO he eXnectad pronartv
which hides so readily when ill-treated will
fight when attacked by tax collector. The
| officials of our towns, as well as corporate
managers, are SO welded to the present sys-
tenn that any legislature which dares attack
| this question in earnest will be called, as the
last one was, 'fool Legislature; :" but by the
| gathering of the state tax from sources now
hidden, it would immortaize itself in the
hearts of the people. LEVI K FULLER.