The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-03-01

had dealt intelfgently with this bis
as a whole and the ability which he
had displayed in it should command
the respect and c-ommendation OF the
people.
Mr.. Gore criticised that feature ofthe
bill which required merchants TO sGive
in their gross ncome, not that heswas
opposed 70 the tax but because htfht
income was large it would induce others
to come in competition with him., OF
IL 1t was not very large 1t would place
him at a disadvantage.
Mr.. Hugh MacRae criticised tina
feature of the bill which taxes the GER
tifcates of indehtness of corporations.
To tax a debt which a corporation owes
even before the corporation pays a
profit was a bad idea n would drive
capital of the state. Corporations
also would object TO saying where they
borrowed capital n hat feature of
the bill making them give away their
business secrets was inquisitorial. IL
corporations are to be made to give in
their certificates of Indebtedness Il
would ruin them. They could not get
money 10 run their business and es-
p~ecially could not get it outside the
state. 1t would also run capital OF
the state for capital would not stav
iIcAt dio Dc oANQ III cay SdILl tIldlllNA'
He said he believed in equitable taxa
ton n taxation was necessary to sup
| port the government. out this bill in
stead of getting more taxes as ii aims
to do, would evidently kill the goose
that laid the golden egg" He stated
that he thought an income tax was the
fairest of all taxes. but he was OPP
posed to the provisions in this bill tax
ing incomes All Incomes should be tax
Il ID tho a - ond - NO aI &C lao;cIorrol
to say that some who got certain sal
aries should be taxed at a graduated
rate while others were exempted. He
called attention to the decision of the
United States supreme court on this
| point. He also opposed the inheritance
tax pretty much on the same grounds.
| He thought If there is to be an income
tax the rate should be as much or one
| amount as on another. He referred to
the tax on savings in banks as practic-
| ally taking UP all the interest on saw
ings, and detrimental to such inStitu-
tions and tending to discourage saw
ings. He believed all these things in
| the bill ought to be adjusted eQuitably,
Colonel DeRosset objected to the in
come tax because 1t was impossible to
get it to bear on all alike. He had
| given in and paid tax on his income to
the full moun required by law, and to
AAo Jan 49, -oD IVA ~
Of $40, 600 n pays on only $1,000.
Captain Meares called attention to
the fac that cry few counties in the
state pay any income az. New Han
over county pays in something owe
$500 on incomes. which is larger han
all other n eXceDt that of Wake.
Thirty-nine counties return no income
tax. which shows that the system is in
equitable. He opposed an income tax
L hpcQ l1Gp incomes arQ taxed without re-
gard to the mans responsibility. For
instance a clerk getting a salary OF
$500 to 5000 could better afford to pay
an income tax h MANY men with
families whose salaries are 81, 500 to
50, 900. Another thing, If one buys prop
erty with his salary he pays a double
as he pays tax on his income and on
the property it is invested in.
Captain Savage expressed q pointed
opposition to the section requiring Sec
retaries and t~reasurers of corporations
against their will to become tax collec-
tors and informers on their employers.
Although he is employed by them he
becomes the spy of the state to report
their stock and interests. This he
deemed very unjust
Mr.. H. w. Malloy opposed the bill in
many particulars and declared that it
would run capital out of the tate. He
was opposed to the manner of tax
corporations and declared that it woul
not only keep capital from coming here
but would run capital now here out Of
the state. He denounced all such
schemes as populistic. and as for him
he did not want to take part in the
sending of a member to the legislature
who would cause the treasurer Of a
company to give ava his employers
secrets.
Mr.. w. E. Worth declared the whole
bill as Ubiquitous. AS to the income lax
he was opposed to making a man pay
a tax for making a living according to
his ability. He said there was no pow
er in the bill to. reach property that is
taXabfe. He asked what justice there
would De in making his ice factory pay
tax on $3.50 0 to $40. 200 capital when a
merchant can give in his capital at
whatever mount he wants to. He then
went on to advocate state. county and
city boards Of equalization as the only
method by which we can get at equal
taxation. For instance. he sal it was
left to people to return their Incomes
and that some made returns and some
did not, whereas a board OF equaliza-
ton would reach everybody. Instead
Of getting a few hundred thousand dol
lars returned. 1t would be found that
there would be a ST. 600. 900 subject to
taxes. It was his opinion if mer.
chants and everybody paid taxes on
their property equitably assessed by a
board of eoualization. he believed the
tax rate in Wilmington would be only
l per cent. instead Of what it is.
Mr.. j. G.. Stevenson suggested that
instead of wasting time in expressing
objections the meeting should formulate
it's objections and submit them to Rep
resentative Willard for his respectful
consideration.
Mr.. G. H. Smith took occasion to ex-
press his opposition to the plan of tax
ing certificates of indebtness. He Illus
trated by saying a corporation with
which he is connected borrows money
and makes Improvements. The proper
tv is assessed to its fullest value, in
Guiding the improvements, pays taxes
on it and then has to pay taxes on the
money 1t borrows. This is double taxa
ton. 1t forces the officer of a corpora
ton to be a spy and taxcollector, and
he thought that>a very Unjust feature.