The herald., 1897-11-06
OFFICE OF THE HERALD.

slow In coming because inc peopic that
nay the largest amount of the taxes would
rather be bled than lose their time and
more money in fighting political system
OF spoils In Massachusetts the most note
worthy movement has been made, being
the report of an expert special commits
sion consisting of Judge Dunbar, Professor
Taussig, II. ]. Coolidge and Alvin Barrus,
appointed to inquire into the tax
systems OF that state. The report recon-
mends fvc changes In the present system
and is regarded as q very important con-
tribution to the discussion upon this much
vexed subject.
The recommendations summarized, may
be stated as follows
Tristan inheritance tax, levied upon
realty and personally alike. at the rate
OF per cent. with an exemption Tor es-
tates not exceeding $4,000, and an abate-
ment of $4,000 on estates between $l0,u0 ana
25.0OO. The revenue from this tax is to
be distributed from the state treasury
among the several cities and towns, ONE
half in proportion to the population, one
half in proportion to assessed valuation.
Second--A tax in proportion to house
rentals, only the excess over $AOO annuaiiy
Of rental being taxable.
Third-Abolition of the present taxes OH
Intangible personally, such as STOCKS,
bonds and securities, loans on mortgage,
income; the taxes recommended under u,
and (2) being relied on to yield at least
as large a revenue as is now secured oy
the taxes to be abolished.
Fourth-Assumptoin by the state treas
ury of county expenses.
Fifth-Appropration by the state OF the
revenue, from taxes on the corporate ex-
cess now distributed among the several
cities and towns.
hove linn
dation, which is the most novel feature of
the report, the commissioners say:
We propose that a tax shall be levied
on all persons occupying dwellings OF an
annual rental OF more than $40O at the rate
OF 10 per cent on the excess of rental value
over that sum- We propose to levy no tax
OF this sort on persons whose incomes are
30 moderate that their expenditure for
dwelling accommodations Is not over $400
year. Those whose income is such that
they exceed this expenditure for their
dwellings are to pay, not In proportion to
their total dwelling rental. but In propor-
ton to the excess of rental over the ex-
empted limit of $400 Thus. a person occu-
pying a house whose rental value was $500,
would pay a tax of $40 a year, this being 10
per cent of the excess of the rental value
over $400. person occupying house
whose rental value was 5000 would pay a
tax of $780, house of $500 rental, $40:
house of $1,000 rental. $50. and so on. The
tax 1t will be observed is upon the occu-
pier of a dwelling, and of dwelling only.
Houses or parts of houses used for bust
ness purposes are in no way affected by 1t.
The tax is to be levied upon the occupier
whether he be owner or tenant. If owner.
It is a tax on his general income. addi
tional to the direct tax which he pays as
owner of the house. If tenant. it is a tax
upon his general income separate from the
direct tax which the landlord pays upon
the house. In either case II is a tax on
presumed or estimated income. propor-
TONED lin the manner described) to be the
expenditure for dwelling accommodation.
1t is clear. almost impossible of evasion.
easy of administration well fitted to yield
q revenue for local uses. and certain to
yield such revenue: it is clear, because the
rental value of a house is comparatively
easy to ascertain. The tax is based on
part of a mans affairs which he publishes
to the world. 1t requires no inQuSition,
and no inquiry into private matters: it
simply uses the evidence of mans means
which he already offers.
There were 247 real estate sales recorded
last month in San Francisco, amounting
to $1.S5S,61 The amount of sales in Octo-
ber was increased by the transfer of the
Murphy-Grant 50-vara corner of Bush
and Sacramento. for $4SO.OlO Aside from
for the last three months. Los Angeles
transfers for the same period were 1925
In number and amounted to s749, $50, so that
after allowing for the single exceptional
sale above referred to. the volume of trans
actions, both in number and amount was
greater in Los Angeles than it was in
San Francisco.
+ =
The San Francisco report of mortgages
md releases for October, according to the
Circular, is as follows Mortgages, 337
amounting to s1,177,5sO. Releases, 246
amounting to s1.2So,61s; by which it will be
seen that in San Francisco as we'll as in
Los Angeles the releases have exceeded in
amount the new mortgages filed.
+ +
The proximate consolidation Of all of the
gas companies in New York is foreshad-
owed in a dispatch which quotes the New
York Times of the Sd inst, to the following
effect: The Incorporation at Albany on
Monday of the New Amsterdam Gas COM
pany. with capital stock Of $23, ,00O 900, of
which $lO0O0,000 Is to be preferred stock
Is not an unnatural sequel to the recent
consolidation of the Equitable and the
New York and East River Gas companies
that within six months all the gas compa-
MES Of Greater New York will be united
All the gas for the consolidated municipali-
ties except the borough of Richmond, may
before long be made at Ravenswood, Long
Island City, where are now the works of
the New York and East River Gas COM
pany, which controls the gas tunnel under
the East river to this city. The list of di-
Fectors given in the certificate of incorpo-
ration of the New Amsterdam Gas COM
pany is not regarded as Indicating on it's
face the real nature of the financial back
ing of the company. as new directors will
probably be chosen when 1t enters actively
upon its proposed operations. and the Of
flcers then chosen will show who are in
actual control of the corporation.
About agriculture in Iceland an ex-
change says that almost within
the Arctic circle, in north latitude 65 to 70
degrees this island. with its population of
10000, is warmed on the west coast by the
Gulf stream. and can raise fair hay crops
and sparse root crops. About 65 per cent
of the population are occupied In rearing
sheep and cattle, which are largely con-
sumed at home, the first ahmed exported
in moderate numbers to Britis&5 5sslrts
Sheep are not shorn, but in early sGAimer
the fieeces loosen on the animal, and the
loose wool IL easily detached. Most Of the
surplus goes to England"
No