Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-12-13

this entire question. Tho Ieglsia,n,n
should consider IT deliberately and adopt
a remedy.
To ascertain tAe amount o. persona,
easily concealed. II il less dis,cuit Row.
ever. 10 ascertain its value when dlec3v-
cree IMAM real estate because II so fra
ouently changes hands by sale or ex-
chsnge' ana this can BE- used as n fair
value.
~ ASCERTAIN THE VALUE OF PER-
SONAL PROPERTY.
This also puzzles legislators. Different
plans have been tried in various States
ana countries. IL would make this mes
sage TOO long for me TO discuss all the
oeVices used, 1t is estimated by those
best Informed on the subject that on a
iair assessment Of Az the personal pro-
perty II would be about equal In value 20
real property. This proposition has been
discussed, and the fact admitted by a
number OF the Governors of the state In
their messages. and by many Of the best
writers upon this subject One of them
says: 1T is reasonable 10 believe that II
our present tax-laws were reformed and
placed on some true and consistent theo-
~, the assessment Of personal property
VIII nearly equal the assessment OF the
realty. and thereby the present unjust
burdens on real estate would be greatly
reduced"
The assessors In New York recently re-
ported 20 the Legislature that personal
property Is assessed at an average OF
less than 10 per cent. OF it's nominal value,
and that the value Of personal property
in tho State Of New York equals II II
does not exceed. the value of the real
estate.
IL the tax valuation of personal proper
~ OF the whole country were 70 be con-
suited for the purpose OF ascertaining its
financial condition ii would be found TO
be rapidly rushing towards bankruptcy.
From 1870 10 1850 the census returns show
that the assessed valuation OF the per-
sOnal property Of the United States de-
creased one million and a quarter, and
from 1880 to 1880 the decrease was even
greater. the real estate increasing du-
ring the same period more than five bill
lions. while the fact is conceded thai the
value OF real estate and personal property
increases. as rule, pari passu. This
apparent declInation in the value Of per
sonal estate Is due TO defective assess
ments-the officers not being able to find
what is the amount and value Of invest
meuts made in stocks. bonds, notes, etc,
and in invisible property OF various kinds.
This decline seems TO be generally ad-
mitted to be apparent and not real.
Now. so defective Is our law. and so
badly Is II executed, that the real estate
Is assessed february /. 1922 at 500. H.
800 and the personal property FEBRUARY
/. 1922 at S95s6S.0Sl. Real estate pays
s.. 20G5 500 Of the tax, and personal property
pays S3s4.0ll. because OF the failure TO
obtain the true amount and value Of the
personal property In the State. Many
have favored relieving personal property
from taxation because OF this difficulty
This should not he done. because II Is
rewar1ing the dishonesty Of the taxpayer
who fails TO give in a true list of his
propcrty: it Is doing just what he is
striving forte wit: The release Of what
ne owns from bearing n fair proportion
Of the public burden. If this was done,
difficulty equally as great would at once
he encountered i'm assessing satisfactorily
the value of real estate. when heaviiy-in-
creased burdens shall be placed upon II
to compensate for the loss 10 the state
In releasing personal property from taxa
ton.
TAXATION OF INCOMES.
After a reasonable tax has been i'm
posed on real estate and personal pro
pertv. there should be n fair tax placed
on incomes. This will be a varying tax,
nile I'm their business during the year.
Incore-t.tx will vary, because II de-
nends on business success. II should be
used 20 meet the deficiency in the amount
of taxes necessary for government pur-
Noses after n reasonable tax on pro-
nertv has been assessed. II Is said by
some that taxes should only be assessed
on visible property. that TO tax incomes
which are invisible. must be unjust pc
cause YOU cannot correctly assess Wha'
-ou have not seen To examine into
what a man has makes II inquisltofiaL
and. therefore. both unpopular ana I'M
p,oper This. | think. is grave mis-
take. 1t Is not unpopular but is growing
i'm favor and IL urged by large proper
ton Of the people. II Is becoming q
source Of revenue in many OF the states
and has been for years used as n means
of revenue in England and other coun-
tries I'm Europe. In 1872 II was adopted
In England as temporary measure 10
relieve trade and commerce from the
trammels by which they were bound
II was imposed for four years, but 50
well did IL serve the purpose of revenue
that the government. after a fair trial,
finally determined TO keep II as per
rnaneut part Of the English financial 10 5
TEN. To assess it was for time the
cause OF trouble and complaint but eA-
perierce has enabled the officers to as
certain this source of revenue with as
near an approximation 10 justice as any
other. IT IS unpopular with a certain
class OF people who desire TO AVOID d
fair proportion Of the burdens OF gov
eminent biz investing their means In
way to escape taxation more readily
than they could If invested in visible pro-
perty. This is unjust to property-owners'
The CAPITALISTS. whose wealth Consists
In invisible property. are as mucn bene-
fitted by the government in being pro-
tected. thus enabling them TO make their
incomes. and I'm their enjoyment OF them
as those whs own visible property which
cannot escape the attention OF the asses
sors. Their investments In property ho'
taxable by the State, because they can
not be ascertained, prevent investments
in visible property. which can be easily
discovered. and thus the decline from
wear 10 year of this kind of property.
II cannot be fairly denied that no tax Is 50
lust. The only trouble is the dimcuity III
properly fixing the amount OF the income
Certainly the good citizen who Is WHINE
10 bear his proportion Of taxes does ho'
complain He is willing 10 give a lalf
statement of what he owns Tor assess
ment. The man who complains Is the OI ,
who will resist fair assessment OF ms
Income He ought not TO be regarded, be-
cause he enjoys the blessings OF the gov
eminent and is unwilling to bear tne
burdens which are imposed on other ciu-
zens 1 trust this class Is neither numer-
ous nor influential in the commonwealth.
The property-taX is often nara one, IL
Is memorable. 1t must be paid whether the
nronerty has yielded revenue TO It's owner
ar moi. II is often the case that tne
merchant pays his taxes. which ne coulu
not anticipate have overtaken him after
his assessment has been made. and when
the tsx-gatherer comes he pays his dues
o,,t of an almost empty cash-dra"er,
The farmer, whose property was assessor
Gears before. il may be, has sustained a
IeaI-v loss. occasioned by the act or Co..
Which ne could not have anticipated nor
nrovided a.ainst-in the way OF droughl
az storm-the result Of which was moi
only the loss of his income from ms
yearly work. but creates debt Tor the
iahor and the expense of cultivating MS
land and which he has no means TO pay,
exrent bv involving both his real ana
personal estate and yet his taxes are ho'
ehated and he must meet them. III Is
often merciless II exacts as mucn IN inc
year OF disaster 10 the citizen WHO IL
STRUGGLING TO keep his head above wafer
os en- a wear of unmeasured prosperity
yyhereas the income-tax only eXacts mucn
when fortune has been KIND ana Ias