Revenue. 119 



their stock held by non-residents. However, if a railroad extended 

 beyond the limits of the state, is was required to pay only that 

 proportion of this sum that the length of the road within the state 

 bore to the entire length.^ In 1850 the tax on non-resident turn- 

 pike stock was made the same as that levied on non-resident bank 

 stock.- In the same year the assembly began its policy of imposing 

 special taxes on various corporations, which, as has been shown in 

 the treatment of these special taxes, exempted them from all other 

 taxes.3 With these exceptions, the tax on non-resident stock im- 

 posed by the assembly in 1852 was as follows : Banks, insurance, 

 turnpike and all other companies and associations whose stock was 

 Hable to taxation were required to pay a tax of one-half of one per 

 cent of the value of all their stock held by non-residents.^ This 

 tax remained unchanged for the remainder of this period. The 

 reduction in the rate from two-thirds of one per cent to one-half 

 of one per cent was more than counterbalanced by the amount of 

 non-resident stock subjected to the tax. The return of the tax 

 for the first year of this period was thirty-five hundred nineteen 

 dollars and the amount steadily increased until for the last year 

 twelve thousand four hundred fifty dollars was received. The 

 entire receipts for the fifteen years were ninety-three thousand four 

 hundred seventy-nine dollars. This is an average of six thousand 

 two hundred thirty-two dollars a year, an increase of three thousand 

 two hundred seventy-four dollars over the average for the fifteen 

 preceding years (April 1, 1831, to March 31, 1846). 



6. Duties and Licenses. 



Before the close of the last period the revenue from this source 



had become very small, but in this period it dropped to almost 



nothing. The Hcense on pedlers imposed by the legis- 



Pedlers aiul lature in 1841 and limited the next year to persons who 



bales'*^ ^^^^ ^ot inhabitants of the state ^ was still in force at 



the opening of the period, but in 1848 this license was 



repealed and a license of ten dollars to be received by the towns was 



substituted.*^ After the state had rehnquished this license in favoi 



1 Public Acts, May 1849, chap. 42, sec. 2. 



2 Public Acts, May 1850, chap. 64, sec. 4. 



3 Cf. pp. 114-117. 



* Public Acts, May 1852, chap. 66, sec. 2. 



5 Cf. p. 73. 



« Public Acts, May 1848, chap. 67, sec. 3. 



