The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-01-10
THF BLESSED BANKS.
comn1aints From Assessors as 10
the Assessments for Taxes
skiIIfu1 JuggIery Shown by 'ne
Tax Rolls as Sent in to the
Comptroller
", n.,oIler Mccall, in his excellent R6n re- ;

7 desire to direct your ,ortment
..L.;on 70 the fact that this depals o4;ons
;e IN receipt of many commun ns CON.
Is ~ ossessors throughout the stare ~
~ that under the laws now III ~
Pla.n ars unable to secure full ana Gun &c
t1ey orc ndition from private banks Vi
'h9 Tbe INFECT matter of these complaints
iho snch magnitude and OF suoh
oo'tS .;oI interest to the state ana nor oiS
u unos T. deem it my duty to acq uain
Zens' oeuencv with the facts, trusting
hat the matter will be preSeu'eu I'll he
legislature, and that such acVlon ; mI
hsJ thereon as will remove the PoSSiD;I.
Of Iea,t so far as can be done Oy los
az s;o 10, of escape from Just and proper taA
otion of capital invested in private oan ~
"'t ne law now in force providing Vhe
.,onner in which private banks, BANKERS"
Lroters or dealers in exchange snail maze
thoir renditions, is in my Judgment Just
md fair TO all concerned l quote IL III
! full: , h,okars or
doolers in exchange, or stock Joooers'
ohoII rander their lists in the manner lol
lowing: First, the amount OF mt neg on
hand or in transit, or IN the nanus VI
other banks, bankers, brokers OF o.neis'
subiect to draft, whether the same % ia
or ont of the state Except United STATES
traasurv notes.. Second, the amount OF
Hills receivable, discounted or purchaseo'
and other credits due or to become QUE
including accounts receivable, interest &C
crued but not due, and interest que anu
unpaid. Third, from the aggregate
amount of the items named IN the nrsO
and second of the last two Subdivisions
shall he deducted the amount of money on
deposit. Fourth the amount of bonds and
stocks of every kind Except United
States bonds) and all shares OF caplteA
stocks or joint stocks of other companies
or corporations held as an investment, or
in any way representing assets Filth, all
other property belonging or appertainlng
to said bank or business, including both
personal property and real estate, shallbe
listed as other personal property and real
estate" (Ohapter los, laws OF 1865
p. ll).
No unusual requirement is made by the
law, nor is there any hardship worked.
Under this law private bankers are sim
DIV required to render their property
that which they own-fOr taxation, just
as is required of any taxpayer. But, not
withstanding the manifest business of this
law, its express terms and plain meaning,
an examination of the tax rolls of this
state disclOses the fact that the complaints
of assessors above referred to are well
founded.
By what system of calculation, or by
what continuance, the remarkable results
shown by the tax rolls are reached, am
unable to understand unless it be that the
oath required to be made by persons rem
dering property is regarded as a mere
mechanical procedure, a matter of form,
and that it is not a crime to violate it,
with a mental reservation, where the gov
ernment's revenue only is involved, and
there is no individual sufferer.
1t was shown by the tax rolls-made
up from sworn renditions--thRt there are
private banks in this state who boast of
large capital of many thousands of dol
lars, and some who so advertise in the
public press who render for taxation but
a few hundred dollars, or only their Office
furniture and fixtures.
With these glazing violations of our tax
laws, assessors aud boards of equalization
seem unable to cope, claiming that the
trouble lies with the law providing the
mode of rendering, in that it permits, in
some unguarded manner detrimental to
the pecuniary interests of the state and
counties, the deductions from "assets" to
be so made as that the latter are entirely
swallowed up, and very little, if anything,
remains to be taxed; or it may be that the
assets" or resources" are not correctly
stated as required by law. Thus the state.
as well as the counties, are deprived of
a Legitimate revenue from these most
prosperous enterprises to which is guar
anteed equal protection by her laws, and
10 which encouragement should be given,
but in some other form than that which
seems to be permitted by the present law.
Inc result Is: A discrimination against
the smaller and poorer classes of tax
payers, whose property is mainly tangible
and Is reached by lien for unpaid taxes.
as well as against other .moneyed capital,
Tor the taxation of which more specific
provision is made by our tax laws.
II the law complained of is defective,
and 1t certainly is else it could not be- so
grossly mlsapplied, some new plan should
De devised by which capital invested in
private banking enterprises in this state
can be reached and compelled to bear its
legal and just share of the burdens of
taxation. ~
submit to your excellency the follow
ing form for renditions of private hanks
bankers, dealers In exchange, etc., which
Will think, remedy the evils complained
o. OF at least improve the present situa
ton, viz: '-'""
ASSETS.
Cash on hand illegal tender notes az
cepted.) 'o' "a
Loans and discounts.
Overdrafts.
Stocks and bonds.
Real estate.
Fixtures and furniture.
amounts due from other banks,
Legal tender notes.
bank. W Vic
LIABILITIES.
Gapltal Including surplus and proftsl
individual deposits.
! certificates of deposit
amounts due to other banks.
NOTES, drafts and discounts.
nneSe fendltions to be made under the
oath required by law. W
uesire to add for your excellencv,s in
formation, and in order that the observe.
nIi nS 1 IIa made may be properly ap-