The herald., 1897-06-07
THE NEW YORK INHERITANCE
TAX

imposed such a tax, but 1t continued
only till 1870, when 1t wac repealed. Cal
ifornia and one or two other states have
inheritance tax laws. The legislature OF
New York has recently passed an act
which has been signed by the governor,
making the tax progressive. Estates less
than $4,000 are exempted. and the tax
| il progressive until It is ten per cent on
all estates OF "a, ,000. 900 and upwards. We
believe this Is the fret time that applica-
ton Of the progressive principle hasbeen
made in the United States. A graduated
income tax hae been advocated for sew
eral years, and the doctrine has received
Endorsement in political platforms
The extraordinary disparity in the pos
session of wealth which has grown UP
during the last third of a century at
tracts wide attention, and hae created
in the minds Of many a fear that II the
arrested there will be danger to the
purity and perpetuity Of Democratic in
stitutions. Many years ago Daniel Web
ster said mo nation can long remain free
whose laws tend to concentrate its
wealth into the hands Of the few" Near
the close of the war Abraham Lincoln
said: II feel more anxiety for the safety
Of my country now than ever before.
that all wealth is to be aggregated into
the hands of the few and the republic
destroyed"
The founders of the government keen
ly realized the danger from the aggre-
CATION and perpetuation Of wealth into
the hands of the few, and hence the
laws Of primogeniture and Of entailment
were early abolished, and those of de-
scent and distribution enacted. which
tend to break up and scatter estates on
the decease of each succeeding genera
ton. Those laws have had that effect to
practices which defeat their operation,
and which are the Incorporation of es-
tatee and the making Of wills which
practically create entails. Graduated
feet in a measure to prevent aggrega-
ton and perpetuation Of wealth in few
hands
There are other grounds upon which
such taxes are defended. We have long
since recognized the principle that taxa
tion shall be uniform and equal, and our
lawe have ostensibly been framed in ac-
cord with it, but in their execution the
principle has often been ignored. This
is fact not unknown to intelligent peo-
pie. Whatever the laws may be, it may
be expected there will be more or less
frauds and evasions so long as dishon
est or inefficient officers are appointed
to execute them. While the principle of
uniformity and equality is good, as far
as it goes, there is another that should
be added, and it is that taxation should
be imposed in some degree with refer
ence to ability to bear the burden,
which is humane and Christian prin-
ciple.
There are come valid arguments
against an income tax which have no
applicabilit to an inheritance tax.
Heirs or devisees have no natural right
to the property of their deceased ances-
tors or devisors; it belongs to the COM
theory that obtained in prac-
tice in the early stages of the human
race. The laws of descent are founded
he OFF ion Ie.
cedent had for his children, blood rela-
tives and friends. No man has a nat
ural right to anything except what he
earns and a share in those elements
which have been created for the common
use of all. To tax an inheritance does
not take from anyone that which he has
earned; 1t does not embarrasIs in busi-
ness or check enterprise. It is a tax
which is easily collected, and in the COL
lection there can hardly be fraud or eva
sion. The person who is the beneficiary
of the laws of descent and bequeste
should not complain if he is required to
give something to the support of gov
ernment which treats him SO gener-
ously.
1t Is best both for the mass and each
individual that all should begin life as
nearly equal as practicable. so far as the
possession of wealth !s concerned. Love
of dominion over the things of earth is
a stimulant to exertion. Those who in
herit what satisfies them are not apt to
exert themselves; in fact it is more often
than otherwise that the sons of very
rich men end their lives where their
fathers began. Great achievements in
the professions, in war; statesma ship,
science, art, literature and business have
in the main been by the sons of those
who were poor or in moderate circum-
New York is good state in which to
make the experiment Of a progressive
tax, for the greater number
of men possessing ponderous fortunes,
reside there
TRY THE NEW PLAN