MILLIONAIRES’ BURDENS.

Stratford Evening Post, Volume XXXI, Issue 22, 11 September 1911, Page 7

MILLIONAIRES’ BURDENS.

EXORBITANT TAXATION

American millionaires are protesting bitterly against the action of the authorities in assessing their houses and other real property for taxation at alleged exorbitant figures. The democratic pastime of “swatting the rich,” as it is called in the United States, may lie popular, hut if it is pushed too far it will, as is suggested, inevitably involve killing the goose that labs the golden oggs (says an American writer). In other words, wealthy people may leave these shores and settle elsewhere, where Jess tribute is exacted. Here is Mr Rockefeller, for example, the world’s ridlest man, but just as businesslike in his old age as Mr Carnegie, protesting against the assessment of his Cleveland home in Ohio at £1,200,000. Ho says half that sum would be nearer the mark. In New York we have Senator Clark, the “Copper King,” asking that the assessment of his house be reduced from £700,000 to £350,000. In the court papers it is explained that Mr Clark has the most luxurious residence in the city, with, many features not found elsewhere. The fittings arc the most costly that could be obtained ; every article used in the construction was made to order; every room is fitted with a secret entrance, besides the doors and windows. The building is provided with safe-deposit vaults, cold storage plants, and a concealed garage. Within the building there is an art gallery, swimming pools, miniature theatre, solarium, and astronomic observatory. Some property-holders on Fifthavenue were also put to great expense in abbreviating the fronts of their residences to comply, with the .city’s plan for a broader roadway. Mr W. K. Vanderbilt, Mr William Rockfeller, Mrs Russel .Sage, and others were obliged, at their own expense, to demolish their porches, ornamental balustrades, and marble terraces, at a cost roughly estimated at £300,000. Mr Vanderbilt’s beautiful Gothic entrance must he spoiled, and the sunken court filled in. As to the assessments, some of the appeals for reductions have been granted by file Courts, but most have been rejected.