PRESS DISCUSSIONS.
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product is not of a character to induce farmers to act hastilyin voluntarily taking upon themselves further burdens tosecure some indirect and remote benefit.— Democrat, Ithaca ,
HOW IT WOULD WORK.
The exemption of personal property to a great degree willattract much business to the city and State. Only the otherday the statement was made that our system of taxation haddriven millions of manufacturing capital from New York toNew Jersey , and the New Jersey farmer is feeding thousandsof operatives who might just as well be consumers of theNew York farmer’s products .—Evening Journal, Jamestown,Chautauqua County.
MONEY DRIVEN AWAY. MICHIGAN FAILS AT IT.
Michigan has always had a law taxing mortgages. It waseasily evaded. Four years ago the legislature enacted asystem of searching the records and notifying supervisors sothat they could put the screws to all mortgagees living in theState. What was the result ? Money was at once sent out ofthe State, and is being sent out all the time, for investment.We happen to know of large sums that were sent away. Therate of interest increased, and the law injured every materialinterest of our people. Not long ago a good loan of tenthousand dollars was wanted on city property. No one wouldtake it. It was placed outside of the State. There it is nottaxable.— Patriot, Jackson, Mich.
don’t attempt the impossible.
There are those who will say that it is not fair and just thatthe rich man who owns mortgages, and bonds, and stocks,should go “ scot free,” while the owner of real estate has topay a heavy tax. In reply to this, the owner of personal prop-