A History of Banking And Currency in Ohio Before the Civil War
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In our eReader you can find the full English version of the book. Read A History of Banking And Currency in Ohio Before the Civil War Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A History of Banking And Currency in Ohio Before the Civil War
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14, 1830 the committee on finance of the Ohio Senate, to whom had been referred a resolution as to the expediency of taxing the capital of banks, insurance companies, etc. , on an ad valorem basis, reported against that plan and in favor of retaining the existing system. They gave as reasons for preferring income as the basis of taxation : first, that it was more agreeable to the stockholders and directors ; second, the fact that the charters of some of the banks limited the tax to 4% on divide...nds, which by implication might exclude other forms of taxation. The committee concluded that no legislative act on the subject was then required. "' 9 So the matter went over.
At the next session of the legislature, however, the question of bank taxation came up again, with the result that on March 12, 1831, an act to tax banks, insurance, and bridge companies was passed, which increased the rate of the tax on bank dividends from 4% to $%. 40 Under this law the directors of banks, in- surance companies, and bridge companies were to furnish the state auditor with a statement of all dividends, and the auditor was then to draw for 5 r / thereon.
What to read after A History of Banking And Currency in Ohio Before the Civil War?
You can find similar books in the "Read Also" column, or choose other free books by C C Charles Clifford Huntington to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
14, 1830 the committee on finance of the Ohio Senate, to whom had been referred a resolution as to the expediency of taxing the capital of banks, insurance companies, etc. , on an ad valorem basis, reported against that plan and in favor of retaining the existing system. They gave as reasons for preferring income as the basis of taxation : first, that it was more agreeable to the stockholders and directors ; second, the fact that the charters of some of the banks limited the tax to 4% on divide...nds, which by implication might exclude other forms of taxation. The committee concluded that no legislative act on the subject was then required. "' 9 So the matter went over.
At the next session of the legislature, however, the question of bank taxation came up again, with the result that on March 12, 1831, an act to tax banks, insurance, and bridge companies was passed, which increased the rate of the tax on bank dividends from 4% to $%. 40 Under this law the directors of banks, in- surance companies, and bridge companies were to furnish the state auditor with a statement of all dividends, and the auditor was then to draw for 5 r / thereon.
What to read after A History of Banking And Currency in Ohio Before the Civil War?
You can find similar books in the "Read Also" column, or choose other free books by C C Charles Clifford Huntington to read onlineMoreLess
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