The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-12-18
C4IION

of each one of these inventories. It is
too bulky for printing, but has been hand
ed to Mr.. Black for the use of the. Com
mission. This statement showed that the
following items made up the bulk OF these
estates
. 81, SSl, SOB. g.
These are included in the value
of the real estate; it was
shown that in Hudson coun-
ty 10 deduction is ever
asked from the value of h
and covered thereby.
National Bank Stock.-... 277,643.7 Is
Invariably assessed and col
lected.
Stocks and Bonds of New Jer-
sey Railroads.. -. -. loo, 36s.42
Expressly exempt from taxa +
ton under the act of 1884.
pal Bonds..a.~ $3.50 s1.45e.2l
Exempt for public policy and
to encourage the holding Of
such bonds in the State.
Cash and money in bank....-. 00,034.74
"a large part thereof in New
York banks.o
United States Bonds exempt. T,z26.10
Interest in New York firms,
Leaving for taxation miscellaneous
property to the value of s., 559, 440.65-
Taxing six years to be the sixth part
of a generation Gas all property always
changes once in a g~eneration), this
would show that even by this crucial test
the personality of the Whole county held
by individuals cannot exceed S25,000, 900,
and this without allowance for debts.
We beg to remind the Commission that
under the personally assumption in Table
s, the propOrtionate personality assumed
for Hudson county would be
15o.5ss.2s Hudson Co. valuation. 1880
7S6. 9SS, 90 Estate valuation, 1880
s565, OF. $50 (personalty assumed), or
sos, 500.0 DOC, or about four times the not
deducible from the records of the Sur
rogate.
Our assumption therefor equals the ex-
travagant claim made by counsel, and
the result brings in a deficit stil against
his clients.
But Hudson county is not the chosen
place of residence for the rich. We have
a population of poor people. engaged
largely as clerks and mechanics in New
York City, and employed IN the great
railroad companies. We have no wealthy
local merchants. no large stores and COM
paratively few manufactures. 1t has
become common remark that although
move to Morristown. Orange and New
York when their incomes rise above their
fellows. OF our four national bank presi-
dents. blu one really resides in the city.
The United States census shows that we
nave a large tenement population, as we
lave 1,21 tenements, covering more than
q persons each, while Newark only has
$40, Paterson 209. Trenton IL and Cam
ettA u 80
We have only 72s manufacturing estab-
1ishments, as against 2,490 in Newark, SS5
in Trenton, 65S in Camden and 500 in Pat
ereon We have only one-third of the
capital invested in manufactures as New
ark and less than Paterson, and only
Slightly more han Camden and Trenton.
Our factories pay less wages than those
of Paterson and Trenton, and only slight
~ more than Camden.
The counsel for the Erie Company, on
page 20 of his brief. airily Gays
Jersey City has a remedy in her W
hands. Let the city add. say, $50, 900, 900
to the personality, and S25. 000, coo to the
realty, and 1t will afford sufficient add
tional taxes to meet all the requirements
of the local government"
We commend to his aseention the che
ule from the Surrogate's office. and the
census exhibit, and would like to have,
him suggest the whereabouts of these ex-
ira millions Of personality.
Jersey City does not desire more money
to spend, but a reduction in her tax rate.
and an equalization of the burden. We are
entirely willing to submit to any consti-
tutional provision ia the act which will
prevent the increase of the tax rate.
With one stroke of the pen, or TO speak
in a more modern strain, with one word
to his typewriter, he would add ffty-Ave
millions, OF Is per cent to the ratables of
Jersey City, but he s~trenuously opposes
the rise of II per cent. in his own COM
Dany'S taxes.