Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1888-05-03
BPl11tn1tt 0ltrnniclr.
THURSDAY, MAY 3, 1888.

THE Supreme Court of the United
States last week passed upon the ques-
ton of taxation of National Bank shares.
The case went up from the Northern Dis
trict of Ohio, and the facts presented al
lege that the Auditor of CuyahOga county
had placed other property of the county
upon the tax duplicate at an average of
60 per centum of its value, while that OF
the complainant was valued at 65 per
centum.
We have seen only telegraphic alb
stract of the decision. The Constitution
of Ohio provides Art. MI, Sec. .:
Laws shall be passed, taxing by a uniform rule,
all moneys, credits, investments in bonds, stocks,
joint stock companies, or otherwise; and also all
real and personal property according to its true
value in money.
If the Auditor of Cuyahoga county,
acting under the provisions of this sec
ton, has placed bank shares or any like
property upon the tax duplicate at 65 per
centum of its value, he has been unfaith
full to the trust repOsed in him, and has
violated his oath of office. The law is
plain and mandatory. No discretion
whatever is vested in the Auditor The
bank shares are to be valued by an "uni-
form rule according to their true value
in money" The Auditor has absolute
control, subject to revision only by the
courts, of the valuation for taxation of
all species of moneyed capital.
Constituting this section of the Consti-
tuition, the Supreme Court of Ohio (E:c-
change Bank VS.. Hines long ago deter
mined:
The State has power to tax shares In national
banks located in Ohio, subject to the limitation
that such tax shall not exceed the rate imposed
upon other moneyed capital of individuals, nor that
imposed upon shares in the State banks.
This is the true view of the question.
As we understand the opinion just rem
dered, this is the view taken of it by the
United States Supreme Court. If, how
ever, that court has gone beyond that,
and has held that bank shares and COM
paratively unproductiye real estate must
be valued for taxation by an "uniform
rule" the opinion will not be calculated !
to strengthen the banks with the people, |
nor to increase their respect for the court |
that pronounced it. AS rule, the homes |
of the people are not held for profit, and |
it is doubtful if the average farm yields
its owner one-third the profit afforded by
bank stock.
This is matter of some importance
to the people of Belmont county. In the
county are six national banks, with an
aggregate capital of $650,000-d doubtless
worth all of S1,000,000. The Auditor of
this county has been overcome with this
60 per cent. nonsense-60 per cent. re-
member, too, not of the "true value in
money" of the stock, but 60 per cent. of
its par value-and as result less than
so per cent of the true value in money"
of the best investments in the county
were by him put upon the tax duplicate.
This is an unpleasant predicament, but
if men will reflect upon it they will see
they are wholly responsible for it. There
is disposition upon the part of almost
every one to have some one else pay his
taxes for him, and as result the banks,
who have species of property that can
not be hid, are seeking their share of the
evasions. Men are careless or indiffer-
ent about the kind of men they choose
for Assessors and for Auditors, and thus
easy facilities are afforded for evading
the tax laws.
In any event, the People have the rem
edy in their own hands. They make Con-
stitutions and courts, and are greater
than either. They elect the officers who
are charged by law with the execution of
the tax laws, and with disbursing public
moneys. Herein lies the remedy: Elect
Assessors and Auditors who will execute
the awrigorously and impartially. The
officers named are of more Importance to
the people than any others, except the
Judges of the courts; yet yearly they per-
NIT themselves to be worked into an up
roar of excitement about the election of
a Sheriff or Constable of trivial import
ance, comparatively-whil possibly they
give little heed to the character of man
chosen for Assessor, or County Auditor,
or Commissioner. So long as this don't
care spirit prevails among the people, so
long will the laws be nullified and honest
people suffer.