Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-06-29
INTERIM REPORT ON TAXES

". enC 484SuOu society,". ADDRESS, Taxa
non Society," this ONCE or r. O. Box g, Bus-
ealo. n "
INTERIM REPORT ON TAXES
OF the Commission of New Brunswick,
1892.
The commission have been favored
with much information upon the so
called single tax system of assessment
from persons interested in the move
ment in the United States and in On
tarlo, where the agitation in favor of
TINS system Is apparently gaining
ground and Is being very zealously pro-
NOTED. The commission do not think
that the time is ripe, at all events in
this province. for putting in practice
the principles of the single tax system,
but they clearly realize that the elab-
crate attempts made to tax all personal
property, and especially such personal
property as moneys invested in real or
personal securities, as mortgages,
bonds, notes of hand, and the like, in
many acts relating to assessment in the
provinces in Canada and in the United
States, have altogether failed to carry
out the intentions of the trainers of the
several acts
While it is clear that the ideal system
OF assessment would be to tax only
such property as is in its nature fixed,
readily valued, or ascertained, and liza
Die to slight f1uctuation in value, still
there Is large amount of personal
property, including income, which can
not under our present circumstances,
be wholly exempt from taxation with
out causing great complaint and posi-
BILE diminution in civic and municipal
revenues. The opinion of the commits
sion is that an attempt should be made
to modify the present assessment act in
the direction of increasing rather than
1essening the amount of personal prop
erty exempt from assessment, so as to
assist as much as possible the farming
class in this province, upon whom the
burden of taxation is necessarily heavy,
owing to the fact that few farmers
have property other than that which is
open to view, readily ascertained and
impossible to conceal from the asses
eor, and to avoid as much as possible
the inquisitorial features of every sys-
tenn of assessment which aims to tax
all property Of whatever nature. One
of the chief changes proposed by the
commission is the exemption from as
sessmeut of moneys invested in mort
cages of real estate in the province.
Much difference of opinion has been
expressed by writers on the subject of
assessment, as to the advisability of ex-
empting moneys invested in mortgages
from assessment-two writers promi-
nent on either side on the question be-
ing Prof. Richard T. Ely, of Johns Hop
kins university, Maryland, in favor of
such exemption, and Mr.. Thomas Hill,
chairman of the board of assessors for
Boston, in opposition to such exemp-
ton. The fact remains, however,
that the principle of the exemption of
moneys invested in mortgages has been
adopted in Maryland, in Massachusetts,,
in New Jersey and in the province of
Ontario. and was strongly recommended
by such an authority as Hon. David A.
Wells. when a member of the New York
taxation commission. The commission
recommended the exemption of moneys
invested in mortgages, and that only
the interest received from such invested
moneys be assessed as personal prop
erty in accordance with the present
law in Ontario. One of the
strongest arguments in favor of this
exemption is the fact that it is almost
impossible to discover the amount in
vested by any one person in mortgages
apart from whatever information may
be furnished by the individual as
sessed- When it is considered that the
lender will always protect himself
against assessment either by an in
creased rate of interest or by the
covenant of the mortgagor to pay all
taxes upon the property mortgaged or
money lent, it is manifest that the ex-
emption of such investments is, at all
events, in favor of the borrower, and
encourages the investment of money in
mortgages within the province. These
and other considerations have induced
the commission to recommend this
change in the present law. Another
change which the commission recon-
mend is the exemption of all horses.
cattle, sheep and swine owned by farm
ers in accordance with the law in On
fario.
The provisions Of the general assess
ment act with reference to the assess
ment of income, are somewhat indeh-
mite and cumbersome, and the commits
sion recommend the total exemption
of the incomes of farmers derived from
their farms, as at present, and of the
incomes of merchants or other persons
derived from capital liable to assess
ment in accordance with the law OF
Ontario. This provision will avoid
anything like double taxation, and will
simplify and equalize the administers
ton of the law. The commission have
found the subject of assessment an
ever widening and extending one. 1t is
one which is now engaging the atten
ton of many persons in the United
States and Canada, who have given an6
are now giving the matter special study
and attention, and even in England
there is a strong movement in favor o.
q change in the principles of taxation
now existing so as to attack the GROUND
rent system in the city of London
The increasing number of persons ad
vocating the single tax principle, show.
that final results upon the question O
assessment have been by no means ye'
attained. BY order of the commission
w. B. CHANDLER, Secretary.
abandoned Farms"