Year: 1864

have eXtonQed somewhat the sources or
taxation but eur departure from the
original state of things has been slow
It takes very long time, sir, in this
country, and in all countries, to inaugu-
rate anything like reforms or radical
changes ; and this question of taxation is
one of the NEST difficult problems which
free government has to solve. But,sir,
as before remarked, we have extended
to some extent the subjects of taxation.
Perhaps we tax our banks to as great an
extent as ID is policy to tax them: The
revenue from the banks to the State for
the year just passed was three hundred
and twenty seven thousand dollars. This
equals thirteen and one-half mills to the
dollar


Now, sir, I disclaim, in this discussion,
any disposition to tax one interest of the
State beyond another, or to impose any
undue taxation upon railroads or any
other interest of the Commonwealth. |
know of no reason why I should enter
tain any such purpose. have no feel
ing of malice or vindictiveness towards
any Of the railroad of the state. We are
all interested in them. The growth of the
State, as has been stated here this after
noon, has depended much upon them.
They have have added largely, to the wealth
of the State. Our commerce is dependent
upon them. Their interests ere intsrwo
ven with every other interest in the COM
monwealth. Butsir, r,can any man here pre-
sent reasonwhy they should not bear a
portion of the expenses of carrying on the
State government? They are creatures of
the State; and the State should govern
them and net they govern the State
[ have said, sir, that we have already ar
rived at a period when we tax banks as
much perhaps as it is policy to tax them;
and the time will come, I trust when we
shall require the railroads to bear equally
with all other interests the costs of mu-
tual protection. 1t will come, sir, unless
the railroads are so formidable and pow
erful as to exercise an absolute controll-
ing influence over the legislation of the
Commonwealth. Whether that time will
ever come or whether it is already here,
| cannot say.


have said that the impression is
abroad in the country that roal estate, at
this time, considering the changed con-
dition of affairs, the enormous capital now
directed to other purposes, and the in
crease of local taxation, is burdened far
too heavily with taxes. For several
years. sir, the Legislature has been dis
cpssing projects looking towards equal
ization and yet wo have no practical re-
suits.


We have been told, Mr. Chairman, at
this session--we were told at the late
session--that bill providing increased
revenues would be passed The neces-
sity for additional revenues in this State
is admitted by all persons who examine
the subject with anything like intelli-
gence. We maSt haze more reuenue.-
The demand is imperative. With all oar
increased individual wealth, and our as
tonishing individua. prosperity, absolute
State bankruptcy stares US in the face.
II is folly to delay this matter; it is
worse; IL is criminal. TO increase the
revenues of the State we must increase
taxation and the plain, simple question
upon us is, whether we shall impose still
greater taxes upon real estate, already
overburdened as it is, or whether we
shall derive these taxes from the railroads
and other corporate interests of the State
that now go almost entirely free from tax
atien? My impression is, that every
consideration of justice and fairness de-
mands that the necessary increase Of rev.
enue must be obtained from taxation upon
railroads. and il is for this Legislature
to say whether such a course shall be
pursued. For myself, [ confess that |
have no great faith that We shall be able
to accomplish it. We were informed
here last winter, repeatedly informed,
that a bill would be passed accom- plishing
this desiiabls end. A carefully and well
digested bill, prepared by commissioners
appointed by the Governor for that es-
peoial purpose, lay upon our files through
out the entire session, unnoticed by the
party then dominant in these halls. 1t
was urged here, the other evening, when
tho appropriation bill was under consid-
Grafton, as o justification for general
increase of salaries, that bill would be
passed at this session that would provide
money to pay those increased expenses
by taxation upon railroads.


We were informed then, By the Chair.
man of the Committee of Ways and
Means that that committee had already
reported bill taxing the gross earnings
of these corporations two per cent. Itook
occasion to say then what I regret to say
now, that | doubted very much whether
we should be able, at this session, to pass
any law BY which We should realize any