66 The Financial History of Connecticut. 



per cent and six per cent, respectively, of the estimated values.^ 

 Thus the classification of property was simplified by limitation to 

 two groups, but still differed from the modern method in rating the 

 property included under one group at double the rate of the property 

 included under the other group. 



This act of May, 1819, also called for the taxation of insurance 

 stock held by persons residing outside of Connecticut. Before this 

 time non-resident bank stock had been listed at three per cent of 

 its value, but now bank, turnpike and insurance stock oi companies 

 in Connecticut, held by non-residents, was to be set in the list at 

 six per cent of its value and all taxes collected thereon were to 

 be turned into the state treasury.^ 



Few changes or additions were made during this second period, 

 which ends in 1846, to the system outlined above. In 1826, the 

 assembly again lowered the amount at which the polls were to be 

 put in the list, fixing it at twenty dollars.^ This was changed in 

 1843 to ten dollars.^ Thus, at the close of this period, the poll tax 

 was only one-sixth as large as it was at the beginning of the period. 

 In 1833 the law exempting from the poll tax ministers and instruct- 

 ors in colleges and incorporated academies was repealed.^ Quarries 

 and ferries appear for the first time as taxable property in the grand 

 list of 1831 and bridge stock was added in 1836. 



This new system of assessment caused the grand list to diminish. 

 Under the old method its total never fell below five and one-half 

 million dollars. The total of the first list under the new system was 

 only $4,113,139 and in 1820, after the lowering of the polls to thirty 

 dollars and the making of a few other changes, the list fell below 

 four million dollars and did not again reach that amount until 1835. 

 The hst of 1826, constructed just after the assessment on polls had 

 been lowered to twenty dollars, was more than two hundred fifty 

 thousand dollars smaller than the list for 1825, and the same effect 

 is noticeable after the assessment on polls was lowered to ten dollars 

 in 1843. 



The hst of 1843 was over three hundred fifty thousand dollars 

 smaller than the list of the preceding year. The total of the list of 

 1845, the last list made in this period, was practically the same as 

 that for the first years of the period and amounted to $4,143,699. 



1 PubUc Acts, May 1824, chap. 2, sec. 1. 



2 Public Statute Laws, May 1819, chap. 2, sec. 11. 



3 Public Acts, May 1846, chap. 5. 



* PubHc Acts, May 1843, chap. 43. 



5 PubUc Statute Laws, May 1833, chap. 22. 



