Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-01-09
THE TAX COMMISSION.

Brief and Running Notes on It's Final Re-
P~Srt-Matters Of Ti6aI Interest to Every
Taxpayer In the state.
Ii, is stated that according to the census
West Yirginia's wealth increased IS per
cent between 1869 and 1879 and our prog
ress since 1879 has been greater than dur
ing any preceding FIVE years. The esti-
mates in the preliminary report are eorro-
borated $50 far as the same subjects are on
sidered) by the seventh volume OF the census
which was not published till after that re-
port was printed Speaking Osthe value of
such commissions, it is said that
The reports to be made By such a com
mission as this will serve another very use
full purpose; they viii scatter among the
people q character Of information which, eX-
perience teaches, viii not reach them
through other channels; and although these
reports may not find a very large audience,
still in every community there are persons
who take a lively and unselish interest in
matters which concern the welfare OF their
State, and such persons will not only read
these reports with intelligence and interest,
but they will propagate such views and sug-
gestions among their ~nsighbors as will
build up an enlightened public sentiment
which viii come t. be rejected IN the leg
i~slatiOn of our State.
1t is proposed to continue the practice Of
dedueting debts from credits, provided the
Assessor be furnished with a statement of
such debts as are to be deducted, and if the
Assessor makes any disclosure Of the in
formation obtained from this statement, he
not only forfejts his Office, but his Official
bond is responsible in heavy damages.
The present law which requires taxpayers
10 furnish a schedule Of taxable property is
to be rigidly enforced, but the schedule IS
to be revised so as TO simplify the questions,
because 1t is Of the first Importance that
the list of questions furnished By the As
SCISSOR 10 a taxpayer, shall be framed with
such simplicity as to be ineligible to the
average citizen" The Assessor is to OBJ
tain a separate list from each person, and
the astonishing statement is made, that IN
such a county as Jefferson, there will not
be two hundred lists exhibiting over $500 OF
invisible property.
Il is said that the experience Of other
States proves that a very much larger
amount of notes and bonds will be listed II
the different classes Of invisible property are
tented with as much particularly as Is
now required in listing visible property,
It is proposed that the schedule which Is
furnished to taxpayers shall distinguish De
tween credits" ard Investments. L'rest
meRti is money permanently Withdrawn from
ordinary trade and active business aud
placed at interest tor the sake OF interest;
credits are temporary claims and demands
created not foe the sake Of interest bat Tor
the purposes Of trade.
The line is clearly drawn between those
who insist that all property shall be taxed
and those who wish to exempt bonds, stocks
and other securities. On this subject the
report says: 90,
The hostility to any proposition winch
eoptemplates taxing invisible property Is the
offspring of a theory that the taxing power
of he Government should be ~prosututed to
foster such private enterprises as are able to
;nFnepce legislation, q theory which the
writer will never cOuntensnce. 1t Is a gross
peryersion of power for q government 70
give one man or class Of men an ARTIFICIAL
advantage over their ueighbors.
Invisible property increases as as a com
munity becomes wealthy; the richer a com
munity the more numerous ITS invisible
property; the richer q community the more
costly the government To e~xonorate III
visible property is 10 exempt that character
of property which requires most protection
from the government and which IS most
numerous when the community Is richest
The report says that the present statute
"~contemplates that q merchant shall be
taxed on a different principle from that ap-
plied to other citizens" and proposes such
a change in the law as viii place merchants
on a precise equality with other taxpayers.
The following head lines indicate some OF
the subjects which are considered; The
work greater than was expected. This
work can be accomplished. Equalization
must be accomplished, although the revenue
be reduced. Proportion Of revenue collect
ed from real estate. In West Virginia %
per cent. Of the revenue comes from the land
tax; in Massachusetts, only "a per cent. A
method to discover invisible property, Pub
lie records not to disclose private affairs.
Publicity prohibited. Personal property
book to be compiled from the lists"
But the part of this report which discuss
es the taxation Of shares of stock probably
involved the most labor and is likely to at,
tract general attention. According to our
preseut statute, shares Of stock are not
taxed. provided the company is assessed
with its corporate property. The report in
sisss that this is unequal and declares that
whenever the dividends of a corporation ex.
coed 6 per cent the stockholders should pay
taxes on the excess. For example, If 8
eorporation declares 6 per cent, dividends
the stock shall not be taxed, but when 1t
declares 10 per cent then the 4 per cent IS
10 be rated. A distinction is taken between
,ba taxable value Of a share of stock and its
masket value. The constitution declares
tina. all property shall be taxed according
II ~ value. to be asceriained as directed by
l.w .nd 4 "a said that the Legislature