The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1903-09-03

taxation. The tax authorities never
knew of it and never suspected the
son of having any money and so he
escaped.
No citizen who las any self-respect
will disclose his real financial condi-
tion on tax list. and yet if the Ohio
tax list were made out as the law in
tended, every citizens real financial
condition would be made public to tho
tax assessor, to the, cclnty auditor,
and to the public.
If the taxpayer is rich he desires to
conceal the fact from the taxing Off
GERS to avoid the payment of taxes.
He does this, to the best Of his ability,
and wonderful ability is displayed in
that direction.
II he is involved, but doing business
and in fair credit, he will not disclose
his condition, because it would be ruin
to do so. If the state of Ohio could
compel its taXbearers to disclose their
actual condition, it would precipitate
failures enough to bankrupt one-half
the people. The law seeking to COM
pei men to disclose their financial con-
dition on tax list is, therefore, fail
ure, and will be less respected and less
observed the better it is known
Farmer Perliins-What as to item
J 10, moneys invested in bonds, stocks,
joint companies, ETC.?
Lawyer Thorndike-If the taxbearer
thinks his business is known to the
| public, he will return these articles,
if he has them. If not, he will not re-
turn them. Shrewd business men do
not allow their ownings, or holdings.
known to the public and hence do not
return this class of items, except suffi-
cient to preclude inquiry.
If compelled to return them one
year, they disappear the next and are
reported as invested in exempt securi-
ties.
Farmer Perkins-What about the
| sixteenth item of the tax list, money
converted into United States bonds?
| Lawyer Thorndike-This is an I'M
warranted attempt on the part of the
! state TO pry into the affairs of indi-
viduals. 1t is to keep tab on his
money and the manner of it's invest
ment. In practice, the taxbearer gives
| or refrains from giving the informa-
| ton called for as he deems proper.
| II he thinks his transactions are pub
| lie, he gives the information If he has
| kept his affairs secret, he does not
| give it.
The same is true as to bonds exempt
from taxation on the top of page 3 of
the tax list. If the taxbearer once
reports them, the assessor will expect
to see the same amount each year, or
have it accounted for.
If once the taXbearer in Ohio makes
a full return of credits, bonds, etc.,
and then lessons the amount. he is
bounded by the taxing officers year
after year, to know what he has done
with them, and no explanation but in
solvency, or removal from the state,
will be sufficient to stop the persecu-
! ton.
If citizen makes a large return
and then wishes to reduce it, it would
be advisable to take up his domicile in
another state.
Farmer Perkins-Can you give me
an instance where by official reports
money and credits are shown in any
particular county and then the true
amount OF money and credits is
known?
Lawyer Thorndike-On page 272 of
the state auditors report 1901, is a
table of moneys returned from the
several counties. On page PA is the
table of credits. Add the two together,
then obtain the national bank deposits
from the report of the comptroller of
the currency, the report of the depos-
its of the private banks from the state
auditors report then add the deposits
OF the building associations in the
county, and the difference between
this total and the amounts given in
the reports will disclose what money
in the county escapes taxation. II
some enterprising newspaper in the
state would work this out as to each
of the So counties, it would be the
most startling fact ever published.
worked the problem in single county
for 1902, and found that 33 per cent
of the aggregate of deposits by the
banks and building associations for
the selected year were returned as
moneys and credits. OF the aggregate
of moneys and credits moneys made
II per cent and credits 20 per cent. If
the people of the state wish to know
these facts, they lie right before them.
The amount of moneys and credits
in Ohio, shown by the official reports
of banks and building associations in
1902 as not being returned for taxa
ton, is over $257, 100000 and this is
nearly all in moneys. careful ex-
animation would likely develop $780,
100000 more.
PREPARING A NEW TAX LAW.
The Ohio State Board C Commerce
is preparing new tax law which it
will propose to the General Assembly
when the pending taxation constltu-
tional amendment has been adopted
by the people. The purpose of this
board is to establish in this state the
best tax system in the United States.
1t expects to make Ohio the best state
in the Union in which to earn a living
own an investment or operate a BUSH
II. l..