REPORT OF THE COMPTROLLER OF THE TREASURY xiii
LICENSES.
The Legislature of 1858, by Chapter 414, fixed the schedule
of traders' licenses as follows:
|
|
License Fee,
|
Licenses.
|
Capital.
|
12 Months.
|
Traders', Female ...................
|
$500.00
|
$6.00
|
Traders' ..........................
|
1,000.00
|
12.00
|
|
1,500.00
|
15.00
|
|
2,500.00
|
18.00
|
|
4,000.00
|
22.00
|
|
6,000.00
|
30.00
|
|
8,000.00
|
40.00
|
|
10,000.00
|
50.00
|
|
15.000.00
|
65.00
|
|
20.000.00
|
80.00
|
|
30.000.00
|
100.00
|
|
40.000.00
|
125.00
|
Exceeding..........
|
40,000.00
|
150.00
|
How unjust and unfair would any assessment be, if it re-
mained unchanged for 55 years! And yet that is just what this
State has done with reference to the above schedule. During
that time several general assessments of real and personal
property have been made to the end that our assessable basis
has quadrupled. The above schedule represented, I am sure,
at the time of its adoption an equitable ratio of values, but
those values have very materially changed. Department
stores and large combinations of capital in trading were then
unknown, but who will say that today $40,000 represents the
fair basis upon which many traders should pay when their
capital runs into the millions! This matter was brought to
the attention of the Legislature of 1910, but opposition was
strong enough to defeat the bill in the Senate after having
been passed by the House. There was urged against it the
''driving of capital out of the State," "the counties milking the
city," etc., losing sight of the fact that the capital in this
business, as in every other, should contribute its fair share
towards the burdens of the State and not discriminate against
their brother merchants of smaller capital. Upon what basis
of equity can you reconcile the rate of $125 per annum for
one merchant with a capital of $40,000 while adjoining him
his rival with $1,000,000 invested pays only $25 more per
annum?
It is a franchise tax, it is true, one for the privilege of doing
business in the State, and as such the merchant is liable for
|
|