New-York tribune., 1886-01-06

aud while the people patriotic and do not object tJ
meeting the lust demands OF gOvernmo IT. they may very
properly lusst that unjust disorint0us should no; be
pernsted The farw aud the WORKSHOP ln tho c0ihtry
40 should fe bonds tue urtg ges the stocks and other
personal property IN tho great ciies OF the state
The theory or our Present system OF taxation neither
Just IL consistent one. IL permits tne Indebtedness
of an owner o persoua property e. be dedactcd from t,
estate. though 1t Is represented by mortgage.
which is specific lieu upon such rel estate tt 10 DIM
cult To discover tho wlslo N Ot this discrimination.
n BE- the true theory TINT person should be taxe'
only upon what ne actually owns II shUud DO applied to
real estate gnrr should entitled rrduc-
tion account OF :hr liens and ncubrauces thereon
Hs actual Interest only De determined by his being
allowed such reduction aud II IL be Proper To allow him
tho benefit OF his indebtedness Ia tue assessment Of
personal property. there woald seem TO be great pro
priety In taking tue In reference % real
estate. Such % change wOnld remedy sOms OF the
injustice aud Inconsistency Vt our rrrSeut system.
personal property almost entirely escapes taxation.
which adds to the burdens real estate while the
latter Is tsxe without regard to the actual interest VI
the owner In IT,. This presents proper subject FOR
your action nnd tho suggestion snt real aud personal
property should Do paced upoa an equal footing FOR all
purposes OF taxation worthy OF most serious oonsider
consdorab,e decrease In tho assessment OF personal
propey may aocauuto for because OF defects In te
present laws. which permit an OWNER OF personal
oomprd year TO contract dents for the purchase
OF Government bonds or other exempt secnrities AMI
such Indebtedness then being required 70 DO dednctnd
om his taxable personal property he escapes taxation
not only upon his bonds but upon an amount OF prop
crty .ltlal To the Indebtedness contracted Usu y
taxao securities or otter personal property Ia pedRed
collateral security Tor the indebtedness oonracte
and after the rolls fully completed the
exempt uhtes are surrendered. or Sold or the
Transaction otherwise Terminated, and the previous
status resumcd Even though this |, dOue FOR the avowed
purpose OF evadng the law ters tO he Drhsent
adequate remedy This device has become u convenient
and popular avenne for efeapig personal taxation not
only with individuals hut am informed that u is being
rosOrtsd 40 by numerous corporations and that millions
OF dollars OF property annually escaping their Just
share OF tue publIe hurde a. Ihis subject should be
honestly AMI thoroughly investigated the LEGISLATURE
If the Legislature does not it to abolish, In all
any deduction for debts thon 10 IA suGtte that
the law should DO amended by rroyidimg thaI such
deduction should not inclade. but 81 ould expressly
Sropt debts ohg created by the purchase of
any property by law frnm taxation; Or tins is
GASES should be re- Iuiret 60 make ahduyt showing
that tho tran an In good faith. and not Tor the
purpose of ,adlng escapns taxation aud providirg
severe penat .Or faSosswearing IN relation to sueh
ansacion and p0saibly permitting thet a>sessors In
their discretion 10 upon the good faith or such In
vestment with liberty To reject the claim for exemption
they believe tho Transaction tO ha mere devtca t0
evaae tho law. Soma proper legislation upon this
subject seems TO BIO iinporatively demanded.
ENi MIGRATION AND APP nRrIoSMrNT
Tho Constitution requires that enumeration OF the
ihabfuns OF this state shall be taken In the yeu
1855 aud at tho end of ten years thereafter Such
an enumeration Is declared TO 10 for the purpose OF
proper appogtonment of Senators and MembeIs Of