The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-09
GREATLY DIsPIRITED.
Treasury Officials Talk of the Re-
suit of the Decision.

suit of the Decision.
Washington. April S.-TreaSury Off
Gals are greatly. dispirited over the su-
preme courts decision on the income
tax case. and. while admitting that
they have no reliable data upon which
to form an accurate estimate. they
express the belief that the net results
OF the decision will be the loss of at
least 80 per cent. of the receipts from
the incomes. In most cities the loss
VIII be far greater than this. notably
the city of Washington. where the loss
is expected to reach rs per cent. Wash
ington. however, is exceptionally a
renting city.
The proportion of rented houses in
other cities of the country also is very
large. In 1890 the rented houses in New
York City were nearly 80 per cent of
the whole. In Boston it was 81 per
cent; In Brooklyn and Jersey City, 81:
in Cincinnati. 80. In the other large
cities the per centages ranged down
to SO at Rochester. The total number
of rented houses in the United States
in 1880 was 1S.120.4S7. which. during the
last five years. has undoubtedly in
creased very materially. Dwellings,
however. represent only a small part
Of the capital invested in buildings of
every character which produce enor-
nous rentals.
Comparatively little was expected
on state, county and municipal bonds,
but the total loss, it is thought, will
not fall short of S15,00O,000 or 20,00O,-
900 for the first year and this loss is
expected to increase rather than di-
minish in succeeding years, should
the law remain unrepealed. The loss
of this revenue, however, is not the
only cause of regret among the Of
l. W. rl,,t4 Ar,
evenly divided on the main conStitu
tional question, it is expected will
result in almost endless litigation,
thus very materially adding to the
expense of collecting the tax. Never
theleSs the internal revenue officials
will proceed at once to prepare sup
Elemental regulations to conform to
today's decision and from now on
until next Monday, when the time ex-
pires Within which returns may be
made, any returns in which incomes
from rents and bonds are deducted
will be regarded as a full compliance
with the tax. Persons who have al
ready made their returns and paid
the tax will be advised of the change
in the regulations, and as soon as
possible the proportionate amounts of
tax paid by each on rents and bonds
will be refunded ITO them under
the general law, which authorizes
the commissioner Of internal revenue
TO refund taxes wrongfully collected.
Acknowledgement Olney was much sur
prised at that part of the decision
which exempts rents under the income
tax. AS to the section of the act re-
lating to bonds. the attorney-general
rather expected an adverse decision.
but he regards the action of the court
on the rent proposition as having been
taken on technicalities. which he be-
lieves will not stand the test of time.
and cannot remain the permanent law
of the land. On all other points, the
government. he believes. has no seri"
Gus cause for complaint. 1t is univer-
sally regretted that there was not
full bench to hear the case and should
Justice Jackson resign there is very
good reason to believe his successor
would almost certainly be favorable to
the law, in which event another test
case would very soon be brought to the
court for determination.