Pike County press. (Milford, Pa.) 1895-1925, 1909-09-10
Taxation.

Taxation.
State Treasurer John o, Sheat
tauidressedathe State Bankers Asscoci
alton at Bedford SPRINGS "Wednesday
taking for his topic taxation n.
said in part the custom is practically
universal 10 the civilized world, anC
one of the oldest peaceable forms by
the government secures the meaBs tC
carry on business. Indirect taxation
Is the most agreeable form in which
to levy and collect revenue, and the
adjustment Of the recent tariff Law
was contradictory because it wa:
hoped there would be downward re
vision when in fact OF 302 articles
considered, 2S5 were increased OF
kept the same as it the Dingley act
and % dntiable articles were reduced.
II, however, business actively is in
evidence, aided by farm product es
timated at eight billion dollars the
people may overlook their disappoinl
ment and forget that the tariff blll
is not quite in accord with the pro
fessions Of the dominant party.
The tax or incomes began in Ath-
ems. $50 b C. and several nations
now derive their greatest revenue
from this source, notably the English
and French. If our progressive poll.
ties, such as building the Panama
Canal, a construction of national
irrigation system aud Inland water
ways, and upbuilding the Navy are
TO be centineud this form Of taxation
was wisely submitted to the several
states for action.
In this state taxation to product
revenue to carry on the public bust
ness seems satisfactory. Seven and
a half million dollars are yearly paid
to school districts, million to vari-
Gus institutions, liberal assistance is
given to hospitals and highways,
and large sums are expended fol-
other purposes. So prosperous how
ever are the states revenues that
last Tuesday the accumulated interest
added to the amount of money in the
Sinking Fund equaled the entire
state indebtedness, and to days were
possible to secure all outstanding
bonds, Pennsylvania would be free
from debt
Corporations pay little more than
half the revenue received by the
state, but II tax were levied on their
gross receipts 1t Wonld he more
equitable and would reduce taxes
paid by domestic corporations and
increase that paid by those operating
under fereign laws. In~urancea and
Banking corporations should be in
separate classes and the four mill tax
on time deposit certificates repealei
and the four mill tax on real estate
mortgages should be eliminated as it
means an additional burden to the
borrower.
Attention should be given to the
depletion of the forests and the state
instead of owning one should own
nve million acres. preferably in 10
ealities having water sheds and pow.
er streams. Tho state has received
no permanent benefit from oil while
for 80 years it has been the greatest
producing section in the world,
Coal should not be depleted without
some permanent compensation K
the people of the state. A tonnage
tax should be levied The average
coal consumption per family of mod
eratmeana is but four tons a year and
OF the Ga and halh million tons sold
in 1908 all but 10 million tons could
bear tax go placed as to produce tel
million dollars annually Domestic
consumers would pay not more thar
ono fourths Of this. and of the Other
three fourth paid by outsiders hall
could be used 10 building good roads,
To summarize he suggests a re
peal Of the tax on time deposits
Repeating the four mill tax on rea
estate mortgages.
Amending the law penalzline
banking institutions 80 per cent foI
failure to pay taxes by August /.
Repeating the law charging thre'
kinds of taxes against one corpora
tion, on capital stock loans, and
gross receipts and levy but one OF
gross receipts, equaling that collect
ed on all three.
Place tonnage tax on domestic
sizes Of autharoite cool 10 make out
side residents compensate the stat
for depletion Of a natural resource,