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Taxation in New York.

It is said that the taxes of New York city now amount to twelve millions of dollars, equal to two per cent, of the value of its real estate, or one-third of the entire rental, which is about thirty-six millions. This taxation exceeds, by two millions per annum, the entire cost of governing Great Britain at the time of its last revolution. When the Morrill tariff begins to exert its inevitable influence upon New York commerce, the Empire city will be involved in universal bankruptcy.

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