Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1898-10-21

The wealth OF one of our citizens has
been estimated at 500, 900, 600 Several
others are reported to be worth between
$1,000 900 and $500 600 600. II any
one of these has $l25, 100000 he could buy
and pay for at its assessed value all the
land and buildings in the city of Burling-
ton, Rutland. st. Adams, Brattleboro,
Montpelier and all the other cities and
villages in the state, and all the farms in
the state. He could buy the whole state
of Vermont at its assessed value, not in
Guiding personal property, and still have
few millions left. A few such men can
and do combine and make all the rest of
us pay tribute to them in the prices we pay
for the necessaries Of life.
Pertinent to such facts is a note Of warn
ing from a old farmer, J. o. Sanford of
Stamford, a man whose native good sense
and whose simple unconscious eloquence
Of speech ought TO redeem our board of
agriculture, of which he is a member,
from the charge of medocracy. At a
meeting of the board he gave an account
Of a visit TO the farm Of a millionaire, who
had taken up his residence in Vermont,
and who had added 10 his original pur-
chase the adjoining and outlying farms for
miles around, making the whole resemble
the estate OF the English nobility. The
former owners of the farms with their
families had disappeared or become work
men or tenants on the estate. He was
greatly pleased with the generous, gentle
manly owner, and with the improvements
which be saw in the fine, high bred cattle
and horses, and the beautiful grounds laid
ont and oruamented with the best artistic
skill that money could command. The
owner told me, said Mr. Sanford, that this
was an experiment which, if successful,
might be used u bring into the state men
of great wealth 10 buy all the farms that
could be bought. II hope, them" said
Mr.. Sanford, addressing the meeting,
that it will not succeed. Why? Because
| do not want to see the independent
farmers of Vermont reduced to the condl-
ton Of the European peasantry."
There may be little danger that Vermont
farmers will ever become TO any large ex-
tent laborers or tenants on the farms which
they now own, but the recommendations
OF our young millionaire governor are, as
far as they go, pointers in that direction
He has sadly mistaken the spirit of the
times The people demand in voice that
will in the end be effective that the very
wealthy classes shall bear a more equitable
share of taxation. 1t is well known that
of the very rich escapes taxation entirely,
or is only partially taxed.
The recommendation of Gov. Smith that
Vermont should, by act of the legislature,
offer TO this class residing in other states,
further immunity from taxation providing
they will become residents of Vermont is
astounding. Without regard to the effect
upon the prosperity of the state, measured
only in dollars, the principle of such
proposition should condemn it. The gov
ernor proposes the minimum limit of the
sum TO be paid in lieu of all other taxation
at $500. With commissioners, to adjust
the amount to be paid, in sympathy with
the project it is not likely that this sum
would in many cases be much exceeded.
In a town whose tax rate is two per
cent on assessed values this sum $500
would pay tax on S25, 000-just l-40th
part of single Million 10th part of the
just tax which a man worth a single mil
lion dollars should pay. There is d thous-
and times more reason that millionaire
should pay taxes on full value of the prop
erty which he owns, than there is that the
struggling farmer with mortgaged farm
should pay taxes on the full amount of all
that he owns, and, in addition, on the
whole or part of his debt. Why should
the very wealthy pay taxes on only a frac-
ton of their wealth, when our laws, in
many instances, compel the comparatively
poor to pay on more than they have.
If mono-miIlionaire taking up his
residence in this state is to be taxed on
one-fortieth of his property, what of the
multi-millionaires? Says Gov. Smith,
"Such fortunes will never locate perma-
nently until they have some hsrbor where
they can anchor in safety, and where they
shall be insured against attacks from what
they deem, justly or unjustly, extreme
leg Station"
One millionaire has anticipated the gov
ernor Hetty Green has, it is said, claimed
Bellows Falls-wbere she pays a small
tax-as her residence for purposes of
taxation. She is one of those "storm
driven individuals seeking help for relief
from taxation, who, probably without
suggestion from Gov. Smith, has shrewdly
sought ito find some harbOr where she
could anchor in safety" She is reputed
to be worth from thirty to sixty million
dollars. The average rate OF taxation,
not including poll taxes and taxes PAYABLE
in labor, was found by the census of 1890
to be about 81 IS on 500. Assessing
Hetty Green at $50 900, now the low.
est estimate of her wealth, her Just tax at
the average rate in the United States should
be S555,O The payment of 1856, 900
which should be her honest tax, If reports
OF her wealth are true, would amount in
three years TO sum which, If invested at
five per cent, would yield an income sufi-
Gent 70 pay all the taxes in the village of
Bellows Falls and the town of Rockingham
forever.
II may be said that large part of the
money Of the very rich Is invested in nom
taxable bonds, or in other ways of which
they have an expert understanding, where
II is beyond the reach of the assessor.
True-that Is the substance of the state
ment made at the beginning. Shall the