New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-19
HOW CITY TAXES ARE LAID
CORPORATIONS ARE HELD TO STRICT
ACCOUNTABILITY
THE IDEA THAT THEY ESCAPE PAYING THEIR
JUST DUES WRONG oNE-HARsHNEss TO
THEM ALSO AvoIpEp--PAINs or THE COM

Just DUES A WRONG oNE--HARsHNEss TO
THEM ALSO AvoIpEp--pAINs or THE CON-
MIssIoNERs TO CARRY OUT THE LAW
| Criticism of public Official. or OF department
Of a great city. should In all fairness be at least
bas ed upon a reasonable foundation, Tor II -
much easier to he critical than TO be correct.
| Reckless assertion Is like boomerang mat Is
! likely to return and smite him who huried H. IL
truth as has been said. lies at the bottom OF
we'll IT must be like certain gambling stocks. wen
watered but even truth reduced 10 such eidue -
preferable to an untruth which Is concealed III
vidiously under the garb of apparent plausiblity.
Freedom Of speech In this land of liberty is the
Inherent right OF all. but when the privilege Is
recklessly and oftentimes malicously apuseo u
give utterance and circulation TO a libel the iree
dom Of the cudgel is likely to follow. The pen can
wound more deeply than the sword. and IL Is no
Indication Of lack OF suffering because the WOUND
| is a bloodless one. The blacksmith In his Forge
| may hammer the red-hot iron for years WIN
safety but there is liable to time when the
| spark will fly back into his face to brand him
To be charged with favortism Is one NJ the
many unpleasant experiences that attach 10 'he
Official life of Tax Commissioner. CERTAIN people
and associations who, for some undehnaoie reason
are opposed TO corporations simply because they
are corporations for there seems TO be something
in TIE 1amp TO influence their animosity and excite
their prejudiceS charge the Commissioners Win
favorng that class Of taxpayers.
The officers OF corporations. the other hand
with an unusual exhibition Of indignation and often
of temper charge the Commissioners with making
an unjust discrimination against them ana OF es-
tabl.shng line Of procedure that will tax them
out Of existence.
ONE POIr- IN COMMON
There Is discrepancy In the two statements that
II is difficult to reconcile II the former classes
are correct in their allegations then the rerresen
tatives of corporations must labor under de-
fusion. II the latter's charges are true and can
be substantated. then the former have MADE
grievous error. One undsputei fact remains uh-
covered upon the surface, however, that no matter
what doubts may exist ne TO the merits OF the
controversy between the two parties. and however
separated they may be on the controversial points
they are united In the opinion that all the o.in-
cultes Of the situation lie at the door OF the lax
Commissioners Office. They mercilessly hurl their
missiles with barred muscles at the heads OF these
! unoffending officials. and breathe out lnvectVes
! 'gainst the officers"
/ Here Is an interesting contention which would
/ excite merrment among those who know how base
less are the charges. If 1t not for the solemn
fact that statements of such character. particu-
larly when they obtain wide publicity and clrcula-
! ton through the medium OF the newspaper, en-
gender in the mind of the reader unjust suspicious
/ and afford a subject for earnest meditation How
| annIicable in such case are the words Of Mac
]
auay:
/ The opinion Of the great body OF the reading
/ public is very materially Influenced by the unsup-
/ ported assertions OF those who assume flght 10
! crit.cise.
The charge made by the association referred to
! Is that corporations not taxed sufficiently and
! 10 the full extent OF the law, and the charge Is
| made somewhat specific In so far as 1t is alleged
that they are assessed for such real estate as
| they may at its actual value.
Per contra the corporations charge that they
are Illegally assessed for their real estate az lis
actual value and they declare that they are
wrongfully treated by the Commissioners who'
! they maintain, should assess II In the same man
ner as the real estate owned by private indvid-
uals-in other words. that the Commissioners are
! bound 10 accept the assessment placed thereon by
the deputies and tina, they cannot add to that
amount.
WHERE ARGUMENT Is USELESS.
There Is no balm that can assuage the fervor OF
these rreconci.able parties. There Is no oil that
| can subdue into qu.escence these angry elements
The waves that lash and beat each other into foam
on the bosom OF the boundless ocean are as likely
10 be ulled into repose by the shriekng OF hurri-
cane in midwinter as the divergent passions Of
these two classes by the words Of reason. You
might talk about the requirements of the law until
! the doomsday clock strikes the hour OF midnight.
and the dawn OF the eternal morning lightens up
the eastern sky, but you cannot convince them
| that they are In Prejudice, not knowledge
is what they nurture. How applicable are the
words Of Dryden
Errors like straws .'pon the surface fow
lie who would search for pearls must dive below
The law affecting the taxation of State corpo-
ratons provides that they shall be assessed at the
ac,ual value of their stock and In making up their
annual statements for the Tax Commissioners they
ara reouired 10 include in their gross assets the
actual value OF their real estate but are entitled
! 10 deduct therefrom its assessed value
There are other deductions when, under the law
ard tho decisions Of the courts, corporations are
entitled TO make from their gross assets. These
include United States. State and city bonds such
part of their capital as may be Invested IN other
States and foreign countries and always their In
debtedness.
co~rorationa are also entitled to deduct from
.ho,r assets imported goods In original and I'M
| hroIer nackages for the Federal courts have de-
c,ded that no State has the authority 10 TAX nii-
ported goods. as such taxation Is construed 10 oe
a violation Of the United States Constitution "h.'"
provjdes that Congress shall have the exclusive
right TO regulate commerce between tho states
FEDERAL EXEMPTION.
The Federal courts. in their judicial oetermind-
t,on of this question, have adjudsed 'hat such
| ,oods are onIy temporarily In the hands or the
.r,nortore or as " they were in transit and until
! thev are sold and delivered to the purchaser they
do not become any part Of the taxable personal
| nroperty OF the country.
! 7, will thus he perceived thai. although cor
| nora.ior may have large resources yet wheh Us
| liabilities and It's non-taxabc assets are deducted
! ,,orafrom the value OF its personal property
often sinks into insien!fcance, and In mary cases
| there Is nothing left which the assessors can
! LEGALLY reach In the taxation Of corporations
/ under such peculiar circumstances 1t can be re-
allied how little there Is in much ana that 10
have nothing Ia not poverty
This ia the origin Of the ncessant cutlery that -
, ever perssten.ly raised against the Commission
ers When corporations issue their annual re-
por,s. showing large surplus capital, If they hap
. non 10 escape local taxation, unfounded charges