The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1886-04-22
able 3. 81 .h. pleasure g % Of the stat. ss... =.

year year is5s ss.tos. .ooo;" and then Tor other puT.
made. so that the very language Of the stat
ute provides for the paymsnt and. no not the the
that notwithstanding the Statutes except
those of l&S and 1889, did not expressly ex-
eMpt the t 69nds fse issued before sbs so bSa bcs:
issued up to that time had written upon their
face exempt from taxation" II 30, We
In 1856 were to be subject to taxation in the
fact that this exemption from taxation was
eliminated from the bonds then issued
action of the constitutional convention and
the view they took of the matter Of taxing
Of tSs q @ ala
not have common sense, according 70 Gen.
ersl Beatty. and that It must be admitted
who u were ere better fitted Tor an imbeciie asylum
than . constitutional convention. But
however that may be, it does not a6ect the
ton did mean and did provide.
So far as the ''thrusting aside OF the law
as dead letter" is concerned, 1t is only toe
true that such has been largely the case, and
that is exactly what the special message
sought to call attention to.
the State had been honesty returned there
would never have been need for three per
cent rate Cf taxation in Ohfo-1h per cent.
would have been more than ample to have
afforded us the revenues we have enjoyed.
The injuries of this sthrusting aside" proceeo
is that the farmers, manufacturers, mer.
chants and other business men OF the State
who are doing something to develop our IN
dustries and add to our happ' ness and wealth
necessarily have their property in such shape
thrust aside in the vaults of . bank or
safety deposit company. and consequently
ne gh6ors also who can and do thus thrust
statute.
State there Is much to be said on both sides.
I recognized this when in my message used
this Language: IF it were not for its the
might be said in favor of exempting from
taxation the bonds of our State and munici-
poi not tax our credit and dive our securt!e e
away, but keep them ct home and pay the
interest on them to our own people.
lieve that the State should tar its bonds, In
the hands of its citizens, as other property,
ons Sos be q
one has ever before thought so harshly Of
such men us Rufus P. Ranney and William
The debates of the convention Of ls6o-5
show that they thought and said. that It was
right to tax this species of property the
protected and benefited by the Governs
meut which the taxes were exacted to
chat to tax % tho bonds % would Be to drive them
out of the State, they replied-and It does NOT
seem very silly either-that the State would
& to
fare to have the money Of our citizens IN
vested in business enterprises that would9oo-
to those who would so invest it, rather thsn
to have It locked up as dead capital in secur-
that could be Thrust aside th9 from the az
seem to think that q bond holding class was
as beneficial to State as an active business
class and consequently did not regret the
tax the bonds would drive them out of the
State in exchange for money that would TO
If our credit is SO good that VIC can sell our
bonds, as we have done. at rate 90 low that
our own citizens can not AFFORD to hold them
@ Pos wsS 10 we Ssd 10
except among our own people 1t would bo
quite different thing. but IS long as New
rope stand ready to take our bonds et rates
less than ollr taxes the State will not suffer
srs Pc az e
the last batch Of State bonds was sold at less
Ohio, the Auditor. the Attorney General and
the people Of the State knew that no tax
would be paid on them. Nay. they knew
bonds were both sold and bought with this
distinct understanding" In this statement
mistake, for, on the contrary. the Governor.
Auditor and Attorney General were each
and all of the opinion that the bonds to be
bid Bidders % and Particularly the successfni BID
The claim that the Sinking Fund Conm.s.
as one of them, had knowledge that tho
bonds were not being taxed Is not tenabie,
for the reason that while the Sinking Fund
ers of bonds and might therefrom ascertain
who held them, 1t is not true that any Nom.
ber of the Sinking Fund Commissioners had
any knowledge, officially, whether the bonds
wore returned by the individuals in their
respective counties for taxation or not. They
had nothing whatever to do with such re.
turn.
So far as o. revaluation of real estate is con-
cerned. 1t is chiefly necessary to secure uni
formity Of valuation. Real estate is not val.
proportionately, in the aggregate. valued
largely in excess of personal property. The
4 oa1 noe be rea shruis ss ana
| sequently nll of It gets on the duplicets
at some kind of valuation. 1t is not right,
however, that the lands of one county should
be valued at seventy-fve per cent. and
those of the adjoining county be valued at
Twenty-Five per cent: Besides the manifest
United States courts at Toledo and Cleveland
twenty-six suits brought by as many different
valued on the average at not more than
forty per cent of its true value, and asking
that the valuations OF their shares FOR taxa.
| ton may cut down to that came figure IT
| they succeed, and almost every such suit has
| been successful. though we hope to defeat
| these the result will be that no kind of
personal property can be validity taxed in
| Ohio above forty per cent. OF its true value
| until another revaluation is had of the real
| estate. This would utterly destroy the in
| tegrity of our tax duplicate and make 1t Inn
| possible for the State to meet her engage
ments
The danger is one we can avoid If we will;
| and / think the danger too serious to war
rant US in taking any six about 1t. The real
| estate owners of the State can far better at
| ford to have a revaluatiOn now than run the
| risk of having their burdens of taxat on al
| most doubled. as would be the necessary
| consequence of a decision of the courts that
lands in Ohio are appraised at only forty pei
! cent. of their true value and that couse
quently nc personal property should be
| valued in excess of that figure.
| If such a revaluat on can be had subject
! to single State Boerd of Rev sion an
| EQualiZat on, as was recommended, With
power without limit to take from and add t.
| as may be necessary to equaliZe county with
| county, and every spec es of property with
, every other. then there will bean end OF the
| dangers that now threaten US from lack .oi
uniformity, nee the Judgment of such {
board, in the absence of fraud or mistake
| would be final and conclusive in law, to es
| tablsh full and uniform valuations, no INST
| ter how much 1t might differ from the judg
ment of other men. Very respectfully,