The Marion daily mirror. (Marion, Ohio) 1892-1912, 1911-01-02


eacn taxpayer snouI6 ne assured ol
a low and exact limit. The art fxet
this at Is mills. II should be 10 mill;
for all purposes unless, as provided
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. It can not be
assumed that they will not authorize
an extension If the public needs re-
quire it.
1t Is mathematically certain that
with the .ctal 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, TO matter what
the valuation or rate may be. And
II 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. too much to
expect that the awners OF these will
all make full and fair returns, even
under the protection afforded against
proceedings for taxes 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 low
tax rate alone be relied on to pro
duce full returns of these kinds OF
property. But 1t will certainly prove
helpful, because owners of invest
ments producing only 4 or 8 per cent
will be more reluctant to return them
TO be taxed at the present rate of
or per cent than when they Will be
taxed not more 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-
plica.e But 1t will not come of It.
self. The securing of returns under
the present system has long been a
farce, as the following official figures
from the state auditor show:
Individual deposits OF money
In banks and trust compa
MES for 1909, many private
banks not included ....... .$6O3, sol, ,2Oa
Money In poss ssion or on de-
posit returned for taxation
IN the entire state for 1909. So, 003 1874
or only about 9h per cent OF
the amount ON deposit alone
IN 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 $93,Sl6.393; for 1909 the total re-
turn was S9,076,629. The highest re-
turn made was in 1890, when II
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.
Cuyahoga county,. with Sl,466,20O
moneys. etc, Sl,66S,96S credits
and sl,120,643 stocks, is compared
with Belmont, a county of much less
size and wealth, which made returns
as follows: Moneys, etc, 81 asa .939 /;
credits. S1,S5S,210; investments, $221,.
720. Hamilton, Darke and Tuscaraw-
failure to report moneys and securl.
ties for taxation Is a much more
common practice in the larger and
wealthier 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 at hand showing
the actual value of such stocks, but
1t 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 a
state like Ohio, but they diminish
right along.
Stock Returned
Merchants AIanuf rs.