The Caucasian. (Clinton, N.C.) 188?-1913, 1897-08-19
The Listing and
Collection Of Taxes.


or on Deposit. A syccial colaru Il.
made for this species of property ir
the State reports Of property reiurE-
I'd for TAXATION, In addition TO Q col
umn for "Solvent Credi;s,- and .
column for stock Incorporated
Companies" Unless tue item o..
money on Hand or on Deposit has
been very much mixed with other
kinds OF property. there 10 a. i'm.
mense discrepancy IN tho reports %
what exists in the State aad What IL
listed for taxation. For instance.
the banks alone reported IN 1896
that their deposits aggregated sio.-
Q6i AS %. This OF course does no,
include any moneys tina, nigh,
have been IN the possession
Of tax payers and not in the banks.
and ordinarily il would seem that
anything lake > correct report Of
money on Hand or on Deposit
should Approximate the amount re-
ported IS being held by the banks.
Bu1 in the column for Mon
ey on Hand or on Dsp,sitr
IN the Auditors Report for 1896 the
total amount listed n shown TO he
only 81, l25. 200. Here another con.
clusion 10 forced, that there is an IT.
regularity in the return of IN oney on
hand, or that considerably more
than one-hAlf Of the money on de
posit in the banks in this State is
owned and held by non residents;
for the difference between the
amount reported on hand in the
banks, and the amount listed for
taxation, is So. 9a9 200. At the pres
emit rate Of taxation, and granting
that this amount OF money Is owned
by :citizens, there is an annual loss
in revenue to the State and counties
Of moro than SAC. 900.
1t is easy to understand that there
could be q vast diff erence between
the amount OF money reported on
hand for one year and the amount
reported for another year year; for
money is an article which is easily
susceptible of circulation and any
amount from one cent to SO, 900 200
might easily move from one State
to another in q day. But generally
speaking the reports for this State
show that there is q less difference
in the number Of dollars reported on
hand from one year to another year
by the various counties than there
is in the number of acres Of land re-
ported from year to year by the
counties. This is rather surpris.
ing condition of affairs, because
dollars are expected to circulate and
move from place TO place, while
acres of land are bound down by a
condition of nature that prevent.
any change of base or locality; and
while we could not reasonably ex
pect to always find approximately
the same amount of mouey on hand
in any county year after year, there
is every reason to think the maximum
number of acres Of land tina. could
be reported from one county in one
year could be reported next year
| unless there has been some leglsla
tive change in the boundaries 81
such counties.
"S:ock in Incorporated Com
panies," is another species of prop
erty which, according TO the report
made, might be said to exhibit mar
velous gymnastic powers-not s.
much in the annual aggregate
amounts reported as in the differen
returns made from year to year b.
various counties. 1t is not Difficult
to understand that this kind of prop
erty might easily decrease or increas
in various counties by transfer fror
one to the other. or a transfer out o
the State altogether. But some i
Illustrations may be given which seem
to me to be altogether unaccoun'
able. For instance one county Ca
barrus) reports comprrativel.
small difference from year to year
having reported for taxation in lS9
500, 900; in 1894. $l03, 600; in 1895
$SI 200; in 1896 $31 900. Auothe
county, (GuilforO reported in 1S9
500, 900; in 1894 AZ 900; in 1895 50 DOC
in 1896 $4,000. Another county
(Forsyth) reported in 1893 $50, 600
in 1894 $40, 900; in 1895 $32, 900; i
1896 $4,000. Another count
(Rowan> reported in 1893 $i44. O0(
: in 1894 $40, 900; in 1895 SIG 600; j
, 1896 1929 900. All these countie
show a considerable decreas, i
|, stock in incorporated compauit
since 1898. One county Durham
shows q remarkable Increase fro
1893 as we'll as remarkab
! difference from year to year.
reported in 1893 $265 900; in IS.
$1O4 900; in 1895 ST. OPS 900. and
1896 81, 344. 900.
Two counties Graham and Mon
. gomery) have not reported any sto'
in incorporated companies durir
9 the past four years. One coun
b (Polk) reported an average Of $50
e 600 a year for three years, and
= 1896 reported none at all. We c;
l. easily understand how q coun
is might report no stock st all say,
1894, and report large amount in
'e subseq uent year; for the eomple.i
of large manufacturing concerns
n the organic alton of large stock sy
y dicates is possible from one year
l. another; but il is rather irregular
B. 4 county to report half MILL
or dollars worth of stock, say 10 IS!
3; and while not suffering the loss
~ any factory or stock company,
- port but little over ten Thousand d
. lars in 1894, and then in 1895 stri
O. around the b Ilt million dollar ma
n again. We can understand that {
r; is actually possible, but | am
~ clined to think thst these diff sren'
ID in reports in this State are mu
OF o. more largely due to our system
* listing than to the yearly gong
IN and coming in of the stock itself.
al While. the facts We have stat
H. might clearly indicate SONS dodgi
W and evasion of taxation, there
at yet another kind of property kno
as "Solvsnt Credits" concsrni
which there has doubtless alw
IL bsen greater lodging and evas
b., than With auv other property.