New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-10
A HEARING on TAX BILLS.
SEVERAL SPEAKERS ARGUE IN sUPPohi Vi iHf'
MEASURE GIVING THE COUNTIES LoCAh
OPTION IN TAXATION.


OPTION IN TAXATION.
Albany Feb o (speciaD-The Assembly Committee
On Taxation and Retrenchpent took up to-day the Dill
introduced bv As,enlblyman Keeler taxing the III
debtodness OF Iont stock corporations, ana 'he o'i ~
Mr. Connolly giving each county Ia III" state INC r'e.'
10 determine for itself how ITS taxes shali DO
on either personal property or real estate ''u",
Harris representing the Ncw-forh 'eh'h al" NV"
ION River Railroad Company. appeared against the
hiI ,,xi,c fine Indebtedness Of corporations. He
,,,lovad the arguments that have been made nero
,o,orc that such u tax would work great INJURY !"
the CORPORATIONS, and would compel them 10 pay
taxes twice on the same amount of value
The I'LL granting local option In the matte Of taxa
ton attracted n large number Of slraheS' Inc Dn i
ppo-ed by those who accept the Henry George theory
II TAXATION that real estate alone should bear the bur
40, -, taxation Among those who appeared before
the committee to support this bill was Thomas IT,
-bearlnan OF Brooklyn. He prcaccd Ills remarks Dy
saving that he appeared an individual, and not as
The representative of any Of tire corporations OF winch
he was tho attorney lie declared that there was no'
law for the taxation Of personal property that the law
vsrs coull not drive a coach-and- SIX through nc
hold the bond, Of any corporation ana wanted to aV&d
IN, taxation which might De imposed tlem all tlht
he need Do would h. 10 transfer them to one OF MS
lerls who lived In NewJersey taking from the clerk
rcelpt for the value, and having the bonds deposited
with himself n, security. lie related incidents OF states
which sIlnGcnl lsNuS iNs ti' 'hA"''O" Va ~
onal property had adopted and showed how they
were made practically useless.
lie argued that the more minute are the laws con-
corning tito assessment OF personal taxes, the more
largely IS the burden Of taxation thrown on the rural
district The farmer has horses and cattle which the
assessors can count, and the value OF which lc can
closely estimate but how the speaker asked, can
the assessor tell what the value OF my personal prop
ertv is MY iurniLIre may be worth $4,000, 100000
or 10000. or only $4,000, and he cannot tell H.
To Mr. shearmans mind there Is only ono solution OF
~. question and that Is 10 allow the counties 10 de-
,orine for themselves and the cities To determine for
themselves how tho taxes shall be assessed. Mr..
sherman closed his argument by declaring that II the
taxation OF personal property to be removed 50
much more capital would Immediately come into New
York that tie real estate dealers and owners would
GLADLY pay the added taxes on their property
H. H. Romaine, OF Newly ork, also favored the bill,
upOn tho same general grounds as those which Mr..
sherman supported It, Bolton Hail. OF the New York
Tax Reform Association, spoke on the BILL and pre-
scucd petition signed by the storekcepcrs In Sixth
and Third ayes. In favor OF 1t. r. Is. Mcguire and
Z NJ Grove of the Knights Of Labor, spoke briefly In
snDDOrt OF tho BILL