The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1890-11-17

THE NEW TAX LAW.
The State Commission Meets
at the Court House
Today.
Mr.. W. H.. CoRBINs VIEWS
He Favors a State Board and a Unt
form System for Every
Section.
r. ". H. C0RBIN'S VIEWS

senator Everltt. OF Hunterdou. was thu
only member Of the State Tax Commits
sion when it got to work this morning ID
the Court House. Ex-Judge Hoffman
and Brigadier General William r. Alb
bett, the counsel. were present however.
Mr.. William H. Corbin first addressed the
Commission. He said
Two things occurred to me lately In
connection with this matter. We should
tax bank stock where the bank il. be-
cause much OF the capital Is employed
where the bank is situated. Let ehe
bank pay the tax and take Il out Of the
dividends. I should tax bank stock nt it
par value. ] am inclined to think there is :
tendency to overdo this taxing bank stock
and l think it should not b. taxed above
par. II bank stock was taxed above par
value it would do away with much Of in
earning capacity"
Senator Everirt asked il it would not
work an injustice to country banks WHOSE
earning capacity was limited to tax them
at par Mr. Corbin replied he would tax
the stock Of such banks below par.
Senator Eyeritt nsked:-.Even If II wa9
selling at par or above parY"
Mr.. Corbin thoughr that that shou1d b
left to locality III You should tax bank
stock in the country aud city alike" h
continued, ssyou would bring about not
equal but unequal taxation There are
millions OF dollars worth Of goods IN
stores in this city which do not pay .
than any other personal property.
DEBTs AID
SIN certain parts Of the State q man
is allowed to set oil the debts he
owes citizens OF New Jersey. In
this way, In Elizabeth wher / live
fhara - n 1o-na arrnnrr ~~rrx~r<H
which pays no lax This Is "a q false
basis. A man might be allowed to offset
his debts against his credits My idea
is hat ali property should he taxed
wherever seen. II you allow debts sci Oh
against visible property, you break down
Elizabeth out of S~l2.000.000 Of valuation
at least $1,000 900 Is sworn away in this
manner every veal"
Suppose a man buys a home and gives
a note for 81 900. - said Judge Holt man.
according to your system you would get
the tax over twice.
Probably that happens often, but I
wouldn't tax mortgages replied Mr.
C0rbin. II would extend the IRE
county act which exempts mortgages
from taxation TO all parts Of the State
| would not tax property in the name OF
the owner, but / would assess OF the
land, designating it so hat it can be
known and make the and liable for the
taxes.
Another thing / would abolish is that
all land on which the Chancellor holds
mortgages Is exempt from all taxations
and assessments. There is 100000
worth of property in Elizabeth which
does not pay 4 cent Of taxes simply be-
cause 1t Is in Chancery and the Chancellor
as trustee holds a mortgage
las 10 the property on which the State
holds mortgages / should think that the
+AA
forecloses and buys them In l would
exempt school and church property
cemeteries except in case where the Gem
eterles are maintained for profit ike
those IN this vicinity. / would tear up
BY the roots all exemptions for tremen
and soldiers l think those are all hum
bug Let q man join a IRE company run
with the machine a few days, and he gets
of $500. Then he joins q militia company
and gets of $500 more.r
AsTATE COMMISSION.
General Abbett asked Mr. Corbin II the
present mode of assessment could De Inn
proved upon in his opinion
Il would make the tax system in the
State all one" said he; Il w0ul6m make
the State Boar Of Assessors The hea4aQf
the whole system, and mmissioners O.
Appeal TO ~adjudicate diff between
counties and townships, a between
railroads and localities. The next grade
N14@ -
| suggest this because / think n good
man Is enough for the position, and be
will be the supervisor Of the whole county
and the man to whom appeals should be
made as to differences between townships
Then / would have Boards of Assessors as
they have in Jersey City, only / would
have them elected by the people ] would
have them sit all the year around, rs they
do in Jersey City.
II like the system of some OF the States.
which make the valuation every I'VE
years: l think the present system OF APP
peal for individual valuation is just (
would ave the County Superintendent
equalize things between townships, with
right of appeal to the state Board the
State Board to regulate between taxing
districts. between counties. between rail-
roads and between railroads and coun-
ties / would elect the Assessors once in
five years and make the valuations once
in i've years, subject to appeal II might
be wei TO ave three County Assessors,
and let each voter vote for VIC. IHonld
enforce a good poll tax"
Judge Hoffman said that the senl-mept
was against q poll tax II could not De
collected.
Mr.. Corbin said that they collected il in
Elizabeth. Most people paid it rather
than 90 TO jail. he also thought hat the
present method Of collecting axes should
be abolished.
II L idAcQ 4uIt4llautC-s 4 A0044 4AtI
tax large inheritances. Something like
$4,000. / think it 3 poor thing to tax
small estates. but | would tax the large
estates. / think the government tax on
incomes during the wal q true one 1
would not tax salaries unless II might bo
in Hudson county, then / would tax some
of the Office holders aud devote the pTo-
ceeds to paving streets"
Tax Commissions David Lawrenc<
was present and was invited to address
the Commission, and in reply SAID that
he was there only ont of courtesy to the
Commissioners, but he had not consulted
with his colleagues and he must ask 10 be
excused until he had conferred with
them. Senator Everirf asked Mr.. Law
renee If he would not kindly explain to
the Commission the method Of fixing
valuations In this city. The senator from
Hunterdon hardly realized. perhaps.
what a tender subject valuations are with
the fraudulent Mayors Tax Board Mr.
Lawrence again begged TO De UNI
I'll he had consulted with his colleagues.
The Commission was excused and then
John A McGrath gave the Commission
hls views The Commission ~ad5ourned
to meet on Wednesday morning in th<
Chancery Chambers
Weather 1ndicntion.-
WASHINGTON. Nov II. 1s9d-Weofbe<
Indications for twentvfour hours for
-. A. U2AA H. 49,