The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-01-13
AREVIEW OF TAXATION
WITH IT'S APPLICATIONS
By F.. II. FRIES, President wachovia Bank and Trust Company oi
VinstOn-Salem.
WinstOn-S

if as a governmental policy, but we
wish to note that the revenue sys-
TENS that have been adopted or re-
vised in recent years by other ma
| tons have universally embodied du-
| ties on imports as we'll as excise du-
ties. Even England, with all her
| boosted free trade, gathers Is per
cent of her gross income from tariff
| duties imposed on imported articles,
while Canada receives 63 per cent of
it's gross revenue from the same
source.
The reasons for this universal adop-
ton of the indirect methods OF tax
alton are:
First: They are more acceptable to
the people. |
Second: The of collection |
is more agreeable.
Third: The way in which these
taxes are laid enables the
to use his discretion and pleasure in
buying the articles taxed.
Fourth: These systems are more
economical.
Fifth: The taxes. being paid in ad-
vance. become at once available for
use by the government.
Indirect methods are now growing
so popular in other countries and they
produce such a large revenue in our
own, that we think they will long re-
main the approved method Of obtain
ing our Federal revenues and we
doubt it the United States could if it
would, or would if it could, abolish
!, either OF them.
Il Direct Taxation.
:, The discussion Of indirect taxation
, Is but a part of the vast subject lat
we are considering. Direct taxation
is just as important and of more direct
interest to many because it IS the
I~~k
. by all the States, counties. cities n
I towns in this country. The direct
g system, too. covers a wider field and
touches every phase Of economic de-
velopment and almost every phase Of
political life.
1t pea at once to be impos-
sible for us to treat this method ex-
haustively in the limited time al
h lowed for this discussion when one
m the Revenue Acts of almost
any State and notes how wide are the
A. fields exploited and how varied are
al the means employed to raise revenue
Let us take. Tor instance, the Rev
m nue. Act Of our own State and note the
at subjects taken for taxation in North
at Carolina:
1. Poll.
90 2. Real estate outside Of cities.
c. tbo}' by la lots.
{c) Manufacturing properties.
on I'D Mineral. quarry and timber lands.
:. Real estate inside Of cities
n 4. Personal property.
tb Horses and mules.
OBJ Cattle, sheep, hogs, goats and dogs
(C) Direct personal property
(a) Farming utensils.
M lb) Tools Of mechanics.
raj &C. Household and kitchen furnitur
mt (d) Provisions.
It'll iff}' Tih, arms s,a s,,on.,s. .-.
10 ID Money on hand.
- Ia
he () Accrued interest unco,lected.
or. (b) Mortgages.
"a United States bonds.
te) State bonds.
in 81 Notes.
are fg) Bills of exchange.
Chi Certificates.
Of (p Certificates on cotton, tobacc,
les and other property in the HAND
81 OF commission merchants {
y" agents in or out of the State.
- Checks and open accounts.
R) Money on deposit.
ted I'd Other checks due or become du
q inn Certificates Of deposit in bar
,rts in or out Of the State.
hos, From the above Is deducte
United States bonds, Nor,
"s Carolina bonds and liabilities
F) I~nvestments-
cen la Money Investments, bonds
.iai stock in any Incorporated cor
hon nany, which Is not taxed tlroue
,,Iy the corporation itself.
to) incorporation companies.
AZ N) Shares in various building q
Sociations.
to CO. Automobile and pleasure boats
me any anu all kinds.
uSi- ~ Al "ale ana merchandise.
My soever ;nnT,S;nm property VIVA
cal Cotton in SOD .na III,
the 3D. Tobacco, leaf and msn,fs
ed tured.
Co., &c, Iurpentine. rosin and tar.
,ver ,d) brandy and whiskey.
tl Musical instruments.
~ Bicycles.
- tgl Plated and silver ware.
Var. Chr Watches and jewelry owned
sary minor children.
d be ~ SCENES, nets. boats and ott
hese ~ Msnlhg apparatus.
"a lures, carriages, harness. br
iheo gies. wagons, carts and oti
Ii vehicles. vi
$50 make sure that nothing
this LETT out a tenth schedule Is
rails r. Az ueHl-
enumerated.