State Taxes

The New York Financial BuUelin gives, from every State government; official returns showing the taxation, debt and assessed valuation of taxable propeïty of the respective States at the latest dates, and from like sources corrcsponding figures f or 1860, and from these f acts we quote as follows: From 1860 to 1875, inclusivo, the population of the States increaed from 31,200,000 to 44,100,000, or 41.19 per cent. The assossed valuation of taxable property lias risen from $12,547,900,000 to 818,380,900,000, or at the rato of 46.48 per cent., or ouly 5.29 per in excess of tko ratio of gain in populatioli; so thnt those who havo maintaiued thafc valuation and not population is the true standard with which to compare taxation do not gain much by preferring that standard. Taxes for purely State expendituies have grown from $27,200,000 to $70,400,000, or at the rate of 158.44 per cent.; and State debts havo risen from 266,800,000 to 8367,100,000, an increaso of 37.99 per cent. It should be explained in reference to debts that the figures for 1875, so far as respects Southern States which have repudiated, include only the debt now recognized by the goverumonts, and that Mississippi is charged in 1860 with the large debt which that State Las repudiated. To recapitúlate: Per cent, The population has increaaed 41.19 The valnation on has increasea ÍG.48 The taxes have increased 158.44 Tho debts have increased 37,99 Taxes have increased in nearly fourfold the ratio of giowth in population or valuation of taxable property. The States generally have yielded to the extravagant tendeneies of the times and contributed an ampie quota, along with the National Goverument and the counties and cities, toward enormonsly aggravating the public burdens. It is gratifying to find, however, that the increase in the State debts falls below the rate of growth in population. The ratio of increase iu taxation and debt variea widely. Western and Southern and Southwestern States make by far I the most favorable exkibit. In the Western States the percentage of inórense in taxation is 103.79, with an inciease of 163.84 per cent. in population; i while the debts of that group of States show a reduction of 31.61 per cent. In the soutkero and southwestern división, there is an increase of 103.40 per cent. in taxes, with a decrease of 51.99 per cent. in the valuation (mainiy owing to the emaneipation of slaves), and an in! crease of 27.92 per cent. in population. j Measured relatively with population and valuation, the Southern and Southwestern States make a nrach less favorable showing than the West ; but compare favorably with other sections. Their debta have been very largely augmented, the ratio being 83.08 per cent ; this per! centago ia likely to be materially diminished in some of the States to repudiatory "scaling" of bonded obligstions. By far the worst showing occurs in the New England group of States. The State taxes of that eection have risen .from $1,646,002 in 1860 to $10,456,377 in 1875, and the debt from $8, 645, 853 to $46,476,898 ; the ratio of increase iu the taxes being 535.26 per cent., and in the debt 437.50 per cent. Yet the increase ! of population in that section hiis been i only 20.19 per cent., and the aagmenta tion in valuation but 100. 76 per cent. j This is an astounding exhibit. It apI pears ntterly inexplicable on any otner I supposition than that New England, j more than any other section of the I Union, has yielded to the political extravagances of the times. We are aware that New England contracted considerable State debts for war purposes ; and this may iu some measure account for the enormous increase of 437.56 per cent. in State debts ; but tlüs can only in small part account for the "fetill larger increase of 535.26 in the State taxes. The Middle States increased their State taxation from $6,647,875 in 1860 to $19,165,804 in 1875, or at the rate of 188.29 per cent.; while the valuation shows an increase of only 82.76 eer cent., and the population a am oí out 31.45 per cent. 'Xho i eots of this section have betn reduced 2.69 per cent., New ïort and Pennsylvania having toj gether paid off $18,300,000 of indebtedness. Hero we have an increase of taxation cut of all proportion to valuatiou or population, being in a doublé proportion to the former, and six-fold compared with the latter.