Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-12-01

per cent. whicE is more than thes ara.
required to pay anywhere else. In sew
eral-statss yhey are not taxed at III.
and in others the rate Is one-fourth.
one-half and three-fourths Of one per
cent The tax hero is uniform. what
ever the nature Of the investments by
the banks, and the result is double tax
alton. To illustrate: If q savings
bank invests its funds in railroad or
manufacturing or insurance stocks,
in real estate or in mortgages.
the property represented by its
securities is all taxed directly, and the
one per cent. levied upon deposits =
second tax. The reason given for not
reducing this tax is that 'tmoney can
afford to pay" and the easiest way to
secure needed revenues Is to get them
by taking them from money lenders
This may be so. We certainly get the
savings bank tax, which amounts to
nearly three-fcurths Of million annu-
ally as easily as that amount was ever
secured anywhere. and it helps inn
mensely; but by doing it we raise the
rate charged borrowers and reduce that
paid depositors. If the laws are TO BE-
amended SO as to help these borrowers,
the one way to do it is by, answer
ing the farmers second question in the
affirmative and permitting people 70
lend money without being taxed for'it
A uniform state tax of one per cent
upon money at interest would amount
to little. because if the law imposing it
-~e nnforrod fbo~~ xuxr,,111 1><> Tn
no money on the assessors books Bor~
rowers would be obliged to get what
they need from savings banks as they
gage in this discussion to any extent,
and the above are merely suggestions
thrown out to help our farm friends
when they reach the subject,
THE New York Home Rule Taxation
bill allowing counties to decide for
themselves what kind Of property shall
be listed for taxation, was defeated in
the assembly by . vote Of 7S to 50; not
. very promising showing in itself. but
as compared with the previous year
when the bill was refused even consid-
GRAFTON, quite q step in advance. Tho
opposition to the bill came chiefly from
the farmer members, who still hold
strongly the vain purpose of forcing the
taxation of all kinds Of personal prop
erty despite the fact that experience
has abunfaantly demonstrated that in
the great cities it is absolutely imprac-
ticable to reach for taxation q 1.-THE Of
the vast aggregate Of personal property
while in the country and smaller towns
q far greater proportion of this kind OF
property is reached by the assessor. It
is a curious fact that in New York
city, despite the great increase during
the last ten years of property values of
all kinds, the assessed value of personal
property is less to-day than it was in
1ssO-and this Notwithstanding all tho
efforts made to enforce its taxation.
As an illustration of how the attempt
to enforce personal property taxation
thing holds, measurably good in all
states-Commissioner Henry A. Robin
son in the last Michigan labor bureau
report cites the case of two widows in
the village of Batavia who were as
sessed for more personal property than
the whole neighboring city of Rochester
with its 20, 600 population.
In another New York town ga single
auction sale OF cattle belonging to one
resident aggregated $S80, 200, while the
whole assessment of personal property
footed up less than $50, O00" In Ohio
in 1882 money on hand" was listed at
$40, 000, 900 for the whole state, while
five years later this amount had fallen
to $35. DOC. O00y or "a per cent in five
years The number Of pleasure car.
riages listed in Ohio in 1889 was 955, O00
while in 1874 had fallen to 2o4, 500
drop of 12 per cent; in Hamilton coun-
ty (Cincinnati) the number was 1910
in 1882, while in 1881 it had fallen to
9,5S4-a decrease of 80 per cent It Is
on facts like these-which hold good in
greater or less degree in all states
that the opponents Of personal prop
erty taxation base . very strong argu-
ment to show that abolition Of this
tax would relieve the farming COM
munity and small Taxpayers generally
and increase the taxes Of the Weather
classes.
Another reason why the large cities
are coming to look with favor on the
abolition of personal property taxation
is that it discourages the location of
new industries and drives away, it has
q tendency to drive away those already
established-and 1t il for this reason
especially that New York city has been
for the last two years pushing the home
rule taxation schcme-under which il
is proposed to give to each board Of
supervisors. the power to levy all taxes
upon one or two or all of these three
classes of property. Land exclusive
of improvements, land inclusive Of
improvements, and personal property.
The scheme provides for the listing OF
each of these classes OF property
separately, in order that the state taxes
may be apportioned under the old rule.
but the state Tux once apportioned to
each county, that county is left to raise
it on the kind OF property its board OF
supervisors sec At.
It isquite probable the vexed problem
Of taxation which is now troubling tho
whole country will be ultimately solved
in the. home rule basis
Public Growth lncreasss Real Estate.
Values.
<.fn regard to the Relationship of tar.
ation to personally and real estate, res
spectively, the reflection Of the value
that the public, or population, gives 10
real estate is clear. For instance, wo
will say q merchant has q barrel, or
four for sale, for say s., which repre-
sents personality, and another has ..
piece of real estate for sale. Now, fs
tomorrow the population Of Buffalo