68 BOARD OF AGRICULTURE. 



public good not being the chief consideration, and the money in- 

 vested in them serves for private gain and emolument, whereas 

 the money devoted to benevolent, literary and religious insti- 

 tutions, is all a tax, devoted wholly and purely to public services 

 and for the general weal, and is forever removed from conditions 

 of private gain or advantage. 



No one is more conscious than the writer that many topics, as 

 domicile, the taxation of consigned goods, of property in transit, 

 of bank shares, revenue from licenses and fees, which might prop- 

 erly be treated of under the general subject of taxation, have been 

 necessarily omitted. Moreover, the discussion of several topics 

 under consideration, has been too brief to be complete. In the 

 treatment of them, it has been designed that this paper should be 

 suggestive rather than exhaustive. 



In the way of recapitulation, it may be well to bring before us in 

 brief review the several specific points which have been favored. 



Ist. Assessment at full value (and not at any percentage there- 

 of) of all property, real and personal, subject to taxation. 



2nd. The taxing of polls at a sum made dependent upon the 

 rate of taxation in the different towns, with perhaps fixed mini- 

 mum and maximum limits. 



3J. A vigorous application of all honorable methods, to the end 

 that personal estate, especially "invisible" property, shall bear 

 its full proportion of taxation. 



4th. The taxing of mortgages when they represent credits. 

 ■ 5th. The election of assessors for three years ; one each year. 



6th. An income tax on the amount of income above one thou- 

 sand dollars. When the income has been derived from business 

 requiring the use of capital which is taxed, a deduction to be made 

 from the gross income of six per cent, of the assessed value of the 

 property from which the income is derived. 



7th. The tax continued on corporations, including railroads and 

 insurance companies. 



8th. The taxing of deposits in savings banks above five hundred 

 dollars, (or without exemption^) like other property, in the towns 

 or cities where the depositors reside, rather than any abatement 

 of the present tax of one per cent, on all deposits. 



9th. No discount for prompt payment of taxes, but the substi- 

 tution of interest in case of neglect, after a specified date. 



10th. The exemptions now authorized by law, with perhaps the 

 exception of church property above fifteen thousand dollars. 



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