Middletown transcript., 1891-04-02

Editor Eyery Esenisg. In the inter ut e..
est Of Justice and fair play l cr claln y
space in your columns to enoeasui; ssa;ou. =
cprrect opr = some Of the false impression
vrrf YOUR frequent attacks on the bill nov nov
%esare Iea M the Legislature for, the eq9ali, !,
zs.ion % Of taxation are calculated 10 =
na msEe Before speaking to the merits
Of r the bill. however, allow me to Say
that. SO far as I have observed, yIo yIa
] content yourself with denouncipg ~ !
i hill and abusing the author ratne, 81
than Iau by proving it erroneous, II
,u nr;nciple or impracticable in appilca.
lion. TO stigmatize a measure as as
g s'Un UnonseusicalS and ridiculous may De
a very convenient, and is certainly .
1ery sy's ebeap way Of disposing Of it. put
one I hardly expected to be taken OY
Sec to saw, in regard to the bill
itself. That il embodies, in principle'
the yelI.considered and mature ludg.
ment Of a representative body OF men y
selected from and representing an
Sections of the State, and whose
honesty. intelligence and patriotism
iii not suffer in comparison with any
equal number of their fellow citizens
Every principle it embraces, with a
single exception, was unanimously
adonted by lie general committee Of
the Farmers Institutes and Oranges,
and after the fullest discussion. Inc
single exception was that which al
lows a taxable credit for the lien
encumbranee upon bis real estate, and
REQUIRES him to pay tax only on the
balance. The vote on this PROPOSE.
tion was. for allowing the credit, To-:
against allowing it, 8; or five to one:
And one Of the three who voted
AGAINST the credit stated that he did
50 not because he thought it unjust,
but because he doubted its expedi-
ency. So the bill is not the thought
Of q single individual, as you assume,
nor Of small number, but the delib-
crate judgment Of a representative
body whose constituency number
thousands. Besides, / beg to remind
you that since it has been printed it
has been endorsed over and over
again by these constituencies. You,
do me too much honor
whef, you credit me solely with its
authorship. I fully endorse the
Of the bill and claim some
IF the credit, but not all. Part is
Justly due. to the experienced and
capable gentleman who were associat-
ID with me. 5si9 yii.it5u
/ will now restate the principal
features Of, the bill itself. They are
hese:
/. 1t proposes to tax all kinds Of in
are yielding profit,
uch as bonds. mortgages and stocks.
We think they should bear q portion
# the public burdens for two reasons.
first, their owners enjoy the protec-
ion ofthe laws and should help sus-
ain them Secondly, because this
ind Of property is more profitable,
,ays better than real estate which
low pays nearly all the taxes. We
hight add, in illustration of first
eason, that a man may till his farm
nd enjoy its fruits without invoking
be aid Of the law; but the owner Of a
,ond or mortgage can not enforce the
,ayment ofeither principal or interest
Without calling in the aid Of the
ourts. II the owners of this kind of
property refuse to pay tax upon it
hey virtually say to the owners OF
cal estate, we will use the courts and
be officers to protect and enforce our
ights, but you must foot the bills.
2. The second principle and main
sature of the bill is that a man should
e taxed for what he owns and not
,r what he does not own. Surely
bis is but just and equitable. To
lustrate A man dies leaving
lrm worth $4,000 to his two
,ns, James and John. John is
.rmer and wishes to retain and re-
de on the old homestead. James
aste does not run in that way, and he
roposes to sell out to his brother.
tut John says " l have no money to
w." James replies, "Oh, that
lakes no difference. You can give
le mortgage for $4,000, my share,
nd pay me the interest, and the
rincipal when it suits you." And SO
lev agree, and the mortgage is given.
low is John any better off. is he
orth more money than he was be
re ? Has the ownership of James
alf changed in reality or only in
anne ? But SO far as taxation under
mr. present unjust laws is concerned
on fha d;f{aronoa IN The