The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1911-01-03


In the act, more is authorized by vote
on propositions stating specifically
purpose and amount. The people
have In various ways EXPRESSED their
demand for this limit. 1t can not be
assumed that they will not authorize
an extension If the public needs re-
quire II.
1t is mathematically certain that,
with the tctal amount to be raised
fixed as above, owners of farms,
homes and other ordinary visible
property will have to pay no more
than they pay now, no matter what
the valuation or rate may be. And
/ 1t Is likewise certain that they will
pay less when property of other
kinds is brought on the duplicate at
true value which has either escaped
entireiy or been valued too low.
What have entirely escaped are
mainly stocks, bonds, money and
credits. 1t is, perhaps, tco much to
expect that the awners of these will
all make full and fair returns. even
under the protection afforded against
proceedings for tSxes and penalties
for six years back, on condition OF
fair returns hereafter. But certainly
this will be an inducement, and the
small amounts which have reached
the treasury from proceedings for
back taxes In such cases show this
conditional offer to be both wise and
cheap.
Nor can the assurance of a low
tax rate alone be relied on to pro-
duce full returns CT these kinds OF
property. But II will certainly prove
helpful, because owners of invest
ments producing only or per cent
will be more reluctant to return them
to be taxed at the present rate of 8
or 4 per cent than when they will be
taxed not mere than | per cent The
temptation is lessened and the ex-
cuse to conscience weakened.
The way thus cleared lies open for
a great increase in the personal du-
plicate. But 1t will not come of It,
self. The securing of returns under
the present system has long been
farce, as the following official figures
| from the state auditor show:
l
| Individual deposits OF money
In banks and trust compa-
nies for 1909, many private
banks not included .... s6Os, ,6o1, ,2oS
| Money In poss ssion or on de-
pOsit returned for taxation
in the entire state for 1909. 5S.OOs.1oi
Or ony about 9M per cent Of
the amount ON deposit alone
] I'm banks which have re-
| ported. &
| The governor quotes from the state
records to show that the credits or
investments In stocks, bonds. etc,
returned for taxation in the state has
slowly declined since 1870, although
| everybody knows the amount has
steadily Increased. In 1870, the en-
tire amount returned for taxation
was $780, 1893; for 1909 the total re-
turn was $0.076,629. The highest re-
turn made was in 1890, when It
reached the total Of S11,363,315.
He also gives figures to show that
the differences In amounts of mon
| eys, credits and stock Investments
returned for taxation In the various
counties are even more startling.
CuydHobu couhLy, Win 9l,fOU,nUV
moneys, etc, Si.66S,96S credits
and s1,120,643 stocks, is compared
| with Belmont, county of much less
size snd wealth, which made returns
as follows; Moneys, etc, 81 ,4S4,939;
| credits, $1,S58,2l0; investments, S221,-
| 720. Hamilton, Darlke and Tuscaraw-
as are compared to show that the
pai lar tA a,H
| ties for taxation is a much more
common practice In the larger and
Weather counties than In those OF
less population and wealth. The
message continues:
The showing of merchants and
manufacturers stocks is even worse.
have no figures mt hand showing
the actual value OF such stocks, but
It Is common knowledge that there
has been large increase in both
from year to year Yet the returns
for taxation are libel on the state.
They are not only insignificant for q
state like Ohio. but they diminish
right along.
Stock Roturned,--
Merchants Manuf'rs.
Bntire state, 1870. $50, ,420,S04 $50, ,022 900
Entire state. 1890. 42,2S2,i72 12,I73, ,265
Entire state. 1890. 41,S90, ,059 1929 6GS
Entire state. 1900. sS,369.363 5,195. 152
hilrc state, 1909. sB,336,979 1881. 3Os
The differences among the counties
are less marked than In the other
cases, but the totals for seven of the
largest would be blow to the credit
OF their cities II anybody believed
them to be anywhere near correct
especially the manufacturers re-