The Northern Pacific farmer. [volume] (Wadena, Minn.) 1878-1885, 1884-12-11

cent adjustment bonds, and the fund
will be used in paying these bonds
when they mature. The ! board ;, OF
investment consisting Of the governor,
regents r and i chief 1nstics held meetngs ON
Aug "a, 1883, Oct ~, 1853, Dec a., 1883,
aud March 20, 1884, and voted at ythe re-
spective meetings.: to sell 299, 600 govern
ment 6s, at a premium OF 81 y per cent. and
invest the proceeds in Minnesota 4 u adjust.
vest in Minnesota 412s; to purchase ITO
4l2 adjustments, exchanging therefor Mis-.
souri, Is at 20 per cent premium; to sell 3S1
Missouri IS and invest in Minnesota 4l2s O.,
United States bonds The net gain to the
state by these transfers amounts to over
$1O5, 900 A judic1ous Investment of the
trust funds has become q difficult problem
The law might be amended, permitting loans
to school districts and counties for erection
Of school and county buildings only. Let the
issue be long time s per cent bonds; limiting
the amount to 3 or per cent of the assessed
COLLECTION OF TAXES
The efficiency of the law for the collec
tion Of taxes is attekted by the promptness
attending their ayment Our methods of
assessment cannot be as heartily commend.
ed The constitution provides:
That all the taxes levied shall be nearly as
equal as may be, and such property shall have a
cash valuation and be eqalized and uniform
throughout the state,
The fundamental principles to be kept in
view in making assessments are first, how to
get all the property listed; second, how to
obtain fair and equitable valuation. Prop
erty divides itself into two classes; visible
property, as lands, live stock, machinery,
merchandise, etc.; invisible property, as
stocks, bonds, money, etc. The former may
Is with the latter class A correct assess
ment of the invisible. property. would add
many millions to the tax list, and re-
duce the unjust burden now resting on
the visible property of the state
The difficulties attending assessments are
Refusal on the part Of the owner to properly
list his property; want OF knowledge re-
garding its value on the part of the officer,
and reluctance as to what may be considered
censorious inquiry concerning private
affairs are the stumbling blocks Chat are in
quisitorial, and the disclosing of private
affairs is not the real objection, but desire
to avoid taxation lies at the bottom. The
law permitting deductions of debts from
credits is radically wrong, to prove which
essr sas are de gtsf 9 Ne E9nn IS
of evading assessments, aud it is through
this door of deductions that vast amount
of property escapes it's fair proper
ton of taxation. The scheming, adroit,
INSCRIPTIONS man who unfairly re-
esses his more conscientious neighbor,
and transfers to other shoulders the weight
of an unjust proportion Of public burdens.
This is not only unjust, but it has tendency
to lower the moral tone OF community by
compelling men in self defense to subscribe
to property statements known to be untrue
person having ten times as much property
as his neighbor should pay ten times as
much tax. The rule, however, is the more
property man may own, the less is his pro-
portionate tax The assessed value Of struc-
lures and OF thirteen classes Of personal
property. constituting the insurable prop
erty of the state, was, in 1884, valued at
$92, 900, 900, while the aggregate insurance
policies in 1888, and which, of necessity,
covered only a portion of this property,
amounted to $188. 900, 900, demonstrating
haps one-third of it's insurable value The
question of how the difficulties at
tending assessments can be overcome
are discussed, and the following recon-
mendations made: First, do away with
deductions from credits on account of in
assessors in place Of township assessors
Under our present system the Judgment of
over twelve hundred assessors must be har-
monized in the attempt made A change to
county assessments is every way desirable,
and will secure greater uniformity without
entailing additional expense.
Suppose the law would not permita greater
insurance on property than its assessed valu-
alton, or that the law required all notes,
bonds, securities, etc., to be stamped "Listed
for taxation, 188-," and signed by the
bid payment unless they bear such endorse
ment I am scarcely prepared to endorse
the last two suggestions. but believe such
enactments would add 500, OOO, 900 to our
tax lists. Such medicine is not palatab3e
The disease, however, demands heroic treat
ment Perhaps we are drifting into that
millennium era advocated by Mr. George and
other economists, when all revenue shall be
raised on land only.