The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-01-26
He that faireth in love with himself
VIII have no rivals.
The Personal Property Tax.


Mark Twain says that while during SCI
DAYS in the year the American citizen
Is true TO his Christian morals, on two
days of the year he lays aside his Chris
tian morals and does things which are
an ofrense to himself and to the conntrta
ON one OF these days he goes TO the
polls. and without blush, votes for
an unolean boss. and against the best man
in the whole land if he is on the other
ticket. on the other day he hides his
personal property in another state, and
then goes to the tax Office and swears
that he hasn't got cent in the world,
in order TO escape his taxes.
That was said in Jest, but there is more
truth than fun in it. About this time
there is much shifting Of Investments
in order 10 get ones money safely locked
up in non-taxable Investments But how
is it to be prevented? 1t takes only a
few minutes to buy and sell stocks. \
citizen of Richmond has fifteen or TWEEN
ty thousand dollars lying in bank. on
February list. it would be a tax assessa-
bic asset. He calls nip his broker at 10
o'clock to-day and tells him to buy =
hundred shares or two hundred shares
according to price of stock in some yir.
ginia railroad a few minutes later the
purchase is made and he has his money
invested in something that IS not asscssa-
bic for taxation. on February I'd he calls
III. I,t, nv. II
in a few moments he has his money
back Probably he has sold at profit;
probably he has come out even; probably
he has sold at a small loss. But in any
event he has escaped taxation and done
1T in strict compliance with law Instead
of buying railroad stocks. he may buy
Virginia bonds or government bonds. II
his money is already invested in taxable
stocks or bonds, he may sell and relnvest
in non-taxable stocks or bonds. In either
case, he will have escaped taxation. 1t
is a difficult proposition for the state
to handle or course tho man who does
this sort of thing for the sole purpose
of lodging the tax collector is sly
dodger, but the State cannot question
his motive. If he complies with the law.
The State cannot touch him or his CT
fects. u
This. SUBJECT is discussed in recent
issue of the Wall Street Journal and it
concludes that the attempt to levy taxes
upon personal property is a failure, and
each years administration of the tax
law makes even clearer than before the
utter shamefulncss of the system.
THE law ITSELF it adds, invites
evasion and the way it is administered
serves only to accentuate its Injustice
and hardship. II bears most heavily upon
the man of moderate means who knows
no way to escape its burdens or who is
TOO honest to evadc, while many of the
great estates manage TO escape either
through political favor or by such meth
DDS :of evasion as make perjury possible
10 an easy conscience"
Our contemporary thinks that an in
crease tax would be infinitely preferable
90 the tax on personal property. 1t would
Sndeed, ii the tax should Re so levied us
TO bear equally upon all, and II Some
means should be devised to make every
man pay honestly. snch an income tas
is the fairest and most equitable of al
taxes, and some day, we believe, it viii
be made the basis of all taxation, botl
real and personal.