The Barre daily times. (Barre, Vt.) 1897-1959, 1914-08-27
u. S. FAR BEHIND
IN SHIPPING
Continued from second page.)

| intangibIes; % years later she had only
ISl4T,900,000, an actual loss of S2,400,000.
| In 1896 Maryland followed the exam
pie Of Pennsylvania with a low rate of
four and six-tenths mills on intangibles.
In the same year the assessed valuation
on intangibes in the city of Baltimore
was S6000000 In 1907, Il years later,
this valuation had risen to $l50,900,000.
Think of it, Baltimore, with population
of 50S,000 census OF 1900 had $1,000
600 more iltangibles in her tax list than
the great state Of Ohio with population
Of over 100000. In 1911 the little state
of Rhode Island adopted the fiat rate
on intangibles and the first year she
had no loss in tax receipts except in six
towns and this was due to the fact that
these towns were peculiarly situated.
Nearly all the towns showed an increase
in tax receipts.
But we do not need to 90 to outside
states to prove the efficacy Of uniform
low rate of taxation ON intangibles. We
have applied this rate to our savings
banks to receive and invest deposits. In |
80 years, from 1879 down to the present, |
our bank deposits have risen from S. |
100000 to S90,000000, yielding a revenue |
to the state of over 100000 annually /
II we had applied the uniform rate 80 I
years ago to all intangibles, what an
immense difference it would have made
to Vermont She would have been big
ger and better state and we would have
developed our own resources with our
own capital and our own brains. We
,rnt,II ha,~ 10, I
of taxes than we receive to-day and in
stead OF our population barely holding
its own it would long ago have passed
the half-million mark.
We are indeed a conservative people.
We hesitate at new dispensation. We
iiscredit all its promises of redemption.
scientific investigation has for
lalf a century revealed the folly of our
ystem of property classification we
ave adhered to it with the tenacity of
he Persians. We have been compelled
0 witness the escape of millions of dol
ars from their just contribution to the
ubiic treasury because we have at
empted to impose upon them an unjust
proportion of public burdens. We have :
tempted the impossible and failed. ;,
Recent Tax Legislation a Misstep. p
In our hour of travail we have made v
misstep by exempting one species of a.
ropcrty that should and can make a II
air contribution. This was mere o.
hitting of burdens, for the exemption q
/ one is the burden of another Few, l
any, have been satisfied with it, 1t II
as been fifty denounced as an instance tt
taxation stupidity and doomage inn VI
ecility." II was the gift of stone re
hen we asked for bread We feel about &c
as Hans did about his barn. His old al
irn burned and he thought he was 60 I.
e to get 81 900 of insurance but the a
surance company decided to rebuild m
lie barn instead of paying the money to
hen the new barn was completed the of
,ent said, There, Hans, is your barn. st
is ten feet longer and five feet wider er
AN the old one and bigger and better tn
every way" But Hans was not sat tn
field. A few days later a life insur- pc
ice agent came around and wanted to II
sure Hans wife NO." said Hans, "if on
v old woman should die you would br
ing around another woman ten feet tn
Her, five feet wider and bigger and bet tn
r in every way"
The per cent exemption law has not
en- and never viii be satisfactory. 1t
not scientific in its classification. It fol
unjust in its exemption and partial in loo
operation. 1t will not bring back I'M
G opportunities that we have lost. We cit
We a comparatively small territory lat
IS than 10000 square miles, but it is de
true in a small as in great iurisdie- On
m that the power to tax is the power La
destroy. Our tax laws have been de- =
uctive to our growth and development.
taxation you should place upon every
scies of property its rightful share of
) public burdens. If you do that you
4 restrict migration and develop your
sources.
Then to he born in Vermont will be
'etter heritage than in the past. This
] not mean a heritage in the sense of
ancestors accumulations but Of priv
res to thrive and achieve Vermont
not adapted TO the production OF al
! great fortunes that can buy titles 1
foreign principalities. The stork drops
few silver spoons in our state. None
palace born. No kings feet have