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WHO PAYS YOUR TAXES?

while frequently arrived at by valuing their personalproperty, is not always so considered. The element of atax upon their franchises enters into the personal taxationof corporations in this State even for local purposes ; andin the main the system is not oppressive, although thereare certain instances where, owing to peculiar circum-stances, great injustice is worked. But with respect tothe individuals who are compelled by the operation of oursystem of taxation to pay a substantial personal tax, onethat bears any just relation or any fair proportion to theamount of personal property owned by them, in almostevery instance an injustice is perpetrated, and an extra-ordinary burden is cast upon the individual, which isalmost entirely escaped by nearly all others who are liableto pay.

“ The truth of these observations can be seen at aglance in observing the relative percentages of theassessed valuations of personal and real estate in thisState during the past few years. It is impossible to formany absolutely accurate estimate of the comparative val-ues of the real and personal estate owned in any com-munity. It is a very safe estimate, and doubtless one farbelow the truth, to judge that in a State of such wealth asNew York , the value of the personal property at leastequals that of the real estate. We find, however, that inthe State of New York , of the entire State taxes, the percent, paid by real estate in 1875 was 82.80 ; the per cent,of the tax paid by personal property in 1875 was 17.20.