Sessional Papers - Legislature of the Province of Ontario, Volume 8


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Página 443 - It is therefore obvious that, when you have ascertained the current cash value of the whole funded debt, and the current cash value of the entire number of shares, you have, by the action of those who above all others can best estimate it, ascertained the true value of the road, all its property, its capital stock, and its franchises; for these are all represented by the v(alue of its bonded debt and of the shares of its capital stock.
Página 517 - A direct tax is one which is demanded from the very persons who, it is intended or desired, should pay it. Indirect taxes are those which are demanded from one person in the expectation and intention that he shall indemnify himself at the expense of another: such as the excise or customs.
Página 443 - Second — From the aggregate amount ascertained as aforesaid, there shall be deducted the aggregate amount of the equalized or assessed valuation of all the tangible property, respectively, of such companies and associations, (such equalized or assessed valuation being taken, in each case as the same may be determined by the equalization or assessment of property by this Board,) and the amount remaining in each case, if any, shall be taken and held to be the amount and fair cash value of the capital...
Página 27 - ... ground, it shall be assessed therewith, at a valuation which, at six per centum, would yield a sum equal to the annual rental which, in the judgment of the assessors, it is fairly and reasonably worth for the purposes for which it is used, reference being always had to its position and local advantages, unless by by-law the council requires the same to be assessed like other ground.
Página 517 - ... revolt; but there is a method by which you can tax the last rag from the back and the last bite from the mouth without causing a murmur against high taxes: and that is to tax a great many articles of daily use and necessity so indirectly that the people will pay them and not know it. Their grumbling then will be of hard times, but they will not know that the hard times are caused by taxation.
Página 14 - Real and personal property shall be estimated at their actual cash value as they would be appraised in payment of a just debt from a solvent debtor.
Página 167 - The general assembly shall provide such revenue as may be needful by levying a tax, by valuation, so that every person and corporation shall pay a tax in proportion to the value of his, her or its property...
Página 139 - ... the quantity of land occupied by the roadway, and the actual value thereof, according to the average value of land in the locality...
Página 528 - If anything in human experience, as applied to methods of taxation, is •settled, it certainly is the fact that taxation upon personal property never can be made a success. Taxes can be raised from personal property, no doubt, for large sums are thus raised; but that they cannot be levied with any reasonable approach to accuracy or equality is demonstrated, not only by conclusive reasoning, but by the more conclusive fact that they never have been thus levied.
Página 453 - I have first to remark that the one uniform tax on all property as an exclusive source of revenue, or the chief source — the main feature in direct taxation — never has worked well in any modern community or state in the entire civilized world, though it has been tried thousands of times, and although all the mental resources of able men have been employed to make it work well.

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