New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-18
OPPOSED BYMANY MERCHANTS.
THE BILL REPEATING EXEMPTION FOR
DEBTS on ASSESSMENT OF PERSONALITY.
IMPORTANT HEARING BEFORE THE SENATE
COMMITTEE on TAXATION - VIGOROUS
LETTERS OF CORNELIUS N BLISS
AND JOHN CLAFLIN-C. c.
sHAYNE'S ARGUMENT.

SIIAYNE'S ARGUMENT.
,rRoM TIE REGULAR CORRESPONDENT or THE 1RIBCNEI
Albany March 1.-THE Linscn bill repeating. in
the case Of the taxation Of personal property, cXemp
tion for debts was asealed before the Senate Com
mittee on Taxation today by large number OF rep
rcsontativcs Of influential commercial bodies. Among
those present were General John G. Graves, spencer
Clinton and John L. Chase. Of the Merchants EX
change Of Buffalo: John f. Henry and G. c. Shayne
Of the NewYork Ioard of Trade and Transportation
J. T. McClinock. OF the Rochester Chamber Of Com
mcrcc: II. =. Van Santvoo:d. Of the Albany Lumber
Dealers Association; r.. Flcgc, representing the
Brooklyn Groccrs j. r. Taylor. of the lcrkimcr Board
of Trade: J. Il. Parsons Of HooSic Falls; Frank
Conover of the New-York Merchants Exchange !;
Mr. Hahn. Of the Ncw-YOrt grocers and Mr.. Blandy
Assistant Corporation Counsel Of NcwYork.
c. c. Shayne, of NewYork made the opening
speech against the bill. lie began his speech by
reading an interesting letter Of Abram 5. Hewitt
against the bill. Mr. Hewitt recommended the ap
pOntment of a special committee by the Legislature
to investigate and report TO the next Legislature
plan for new taxation laws Mr.. shaync then said,
in part
II may fair compel merchant or manu-
facturcr upon his debts IL is TO compel
farmer, whose farm is morteaged, to pay taxes on his
fam without deductng the value OF his mortgage but
these differences Firs-Rea estate IS
assessed generally up to its full market value Sec
ondy and manufacturers largely do business
credit The cash capital Of most merchants, especially
the active merchants OF today bears but small proper
ton to the magnitude transactions. They make
a small commission the volume Of their business
Of all proportion TO those Of the real
and to tax the merchants and manufacturers
OF New.YOrk State their debts would simply mean an
enormous shrinksqe the commercial transactions and
importance Of the State This in turn would react dis
astrously upon agricultural and real estate interests
Of the State. In article in The Daily Tribune last
made mention Of interview with eN-t'oVegnor
Hoady lie asserted that there wild chase FOR taxes
the ono ~ driyin from
its borders millions OF capital. do not believe 10 right
Mr. Chairman and gentlemen for legislators to pass laws
which will drive manufactures and commerce Into
the State OF NcwJersey which by its more liberal treat
ment corporations already attracted many OF our
best business
Frank :. Gardner read letters from largo number
of prominent business Of New.YOrk against The
bill. Among those who thus wrote Cornelius v
Bliss, Thurber. Whyland 5 Co.. John Clahin, OF the
II. B. Clafn Co.: w & J. Sloane Enoch Morears
Sons Company Mr.. ClsHin wrote an admirable letter.
giving In short form the forcibe objections TO
| passing the bill He SAYS in the letter;
The passage and enforcement Senate bill No. 1o7
would. in opinion. reduce the wholesale business Of
this ci.y at least third would throw many thousand
men employment would hundreds OF buildings
be vacated and would reduce rents and consequently
values largely that reaeststc owners would
greatly harmed and all benfed by this endesyor
the Of personal property bear large part
| OF the burden Of taxation.
Cornelius " Bliss took staesmanlike view Of the
bill His letter is excellent lie save IN behalf of the
| merchants Of New-York:
II the bill provides / tod u docs for the taxa
ton consigned goods bills and accounts receivable ETC.
and law. only that the drygoodS COM
mission OF NewYork City will have largely IN
seek other notice A. present this branch
Of pays in tho shape Of higher rentals
for It's stores storage warehouses than paid by
other branch Of business and employs many thousands
Of who in turn taxpayers TO greater or
less extent should however be distinctly understood
merchants Is not in the New.YOrk merchant but belongs
manufacturers Of the interior Of the State and others
scattered Maine Georgia, who have made New
York market for the distribution Of their
goods who large taxpayers in their own places
| OF business
The growth and prosperity Of NewYork, with its great
and Increasing realesate values, is largely owing TO the
liberal policy heretofore adopted by the STATE for the en-
couragene 10 people Of all sections TO make this city
great dcpot Tor business New.York has for the last
twenty years such place OF exchange but II must be
borne IN mind that the New-York merchant Is now con-
oned with great retaining this business here
in The growth OF business in Western cities
has Imperative for merchants representing the
manufacturers the East the Middle States and the South
had their headquarters In New'fork for some
years 10 establish branches agencies In Chicago 81
Louis Cincinnati and many centres and this change
IN methods Of business f. making NewHofk less IN
portant a distributing centre an IL has hitherto been
antaconstc legislation Is adopted, the agencies above
referred 10 can will he managed and directed from the
Headquarters Of the onsgncc whether in Maine Ma>-a
chuss PENNSYLVANIA Georgia reducing the business IN
New-York City simply to the supply Of the local trad"
| In short. conn ission business Of New.fork.
| the source OF much OF It's prosperity, VIII
be practically destroyed by such methods OF taxa
| ton Is you describe. This state OF things. Of
course Will not all about at once but after one Of
two years extorton Of cent out Of commission
! Of Der cent to per the business and capital
involved viii be found 10 have vanished.
The methods Of taxation in this state are no doubt
faulty and should be reformed but it is to be hopod
that the Legislature will not, time when necessity
exists for unusual and increased Income, adopt radIa
scheme OF taxation which but prove Of ncacuahl"
injury to the chief city Of the state. \ commission q"
| cxnorts should be appointod include such a.
President Coleman. the NcwNork BOARD Of Assessors
TO consider whole subject Of taxation and 10 PROPOSE
10 another Legislature a carefully prepared plan when
would be Just to the city providing that all Interests
should paw fair and equitable taxes and that none should
be unduy assessed Hasty action aimed al some SPECIAL
class or INDUSTRY will be costly IN the end; and uust
and believe will not be INDUCED In by the Legislature