ASSESSMENTS.
Mr. Hartley's bill (213) to amend the 33d section of the Assessment Act of June 21,1852, [so that persons subject to taxation may deduct their indebtedness from solvent claims, moneys on hand and personal property, instead of as now from solvent claims,] coming up -
Mr. STANFIELD proposed to recommit to a select committee with instructions to amend so as to make banks pay the taxes on their stock.
Mr. NEBEKER, of Warren. There will be a bill to meet that case.
Mr. STANFIELD would reach non-resident stockholders.
Mr. HAMILTON, of Boone. The instructions could not be incorporated without a repeal of the 15th section of the charter of the Bank of the State. The provisions of the bill referred to were more salutary than the gentleman's instructions.
Mr. STANFIELD withdrew the proposition.
Mr. HARNEY proposed to recommit, with instructions to add:
Provided, That when a County Treasurer shall fail to make a settlement at the proper time, he shall forfeit two per cent, on the amount due to the State Treasury.
The motion and instructions were agreed to.
Mr. PROSSER proposed to add to the instructions:
Amend by striking out from the bill all that relates to deducting indebtedness out of moneys on hand or at interest, or out of personal property. [Leaving the law as it now is in this respect.]
Mr. MARTIN proposed:
Strike out all that relates to deducting indebtness from money on hand, personal property and money loaned.
Mr. HUN1ER supported Mr. Prosser's instructions. Without such a provision, the bill would reduce the amount of taxables in the State to the amount of $150 000,000.
Mr. HAMILTON, of Wayne, and Mr. RITTER could not appreciate the wisdom of double taxing.
Mr. MURRAY. Under such a provision the agriculturists would have to pay the revenue.
Mr. PROSSER supported the instructions and replied to objections.
Mr. HAMILTON, of Boone, opposed the instructions, giving examples.
Mr. CLEMENTS, when in order, desired to instruct the committee to the following effect:
Inquire whether the railroads of the State, and other corporations, that are indebted in an amount equal to the value of such railroads or the assets of such corporations, would not be exempt from taxation under the operation of the bill.
Instruct the committee to add an additional specification requiring each tax-payer to state under oath what amount of profits he has realized during the preceding year, from property for which he may be taxed.
Mr. BOYD had prepared instructions, allowing us to take our indebtedness which we owe within the State, from our solvent claims, and which he would offer at the proper time.
On motion by Mr. MURRAY, Mr. Martin's amendment was laid on the table.
Mr. HARTLEY made an ineffectual motion to lay the instructions on the table.
Mr. BOYD now submitted his instructions.
On motion by Mr. PROSSER, they were laid on the table.
On motion by Mr. HAMILTON, of Boone, the vote on Mr Harney's motion for reference, was reconsidered, and then, on further motion, the bill and proposed amendments were laid on the table without a division.
