Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1814-01-26

cannot forbear to express their Scrsc OF ~
danger. TO which the pubic credit may b
exposed by an entire reliance upNn loans, u
detra- the extraordinary expenses To which
!, the Commonwealth has been and continue.
to be exposed during the present war. j
such loan be extended 10 embrace the sum
now assumed to be paid TO the government
OF the United States. the effect Of TIE sys-
TENS of both governments, will be to borrow
by the fundamentally of the one, the prin-
cipal sum required to carry on the existing
war, and by means of the other, the annual
interest on the sum thereby DESTROYING the
only solid foundation os national credit. the
competency OF the national revenue 70 full
little national engagements. The common
wealth having assume Il to pay 20 the go-
We RI ment OF the United States the debt of
her citizens, amounting TO the sum of 369,
04z dollars, has a fair claim upon rhem, for
a sum snihciercto meet that Assumpsi,, the
expenses Of collection; which ! our commits
tee believe Will be paid with alacrity by
them /; so that every consideration of JUS
tice and expediency combine TO recommend
a resort to additional taxes to that amount,
your committee therefore suggest the neces-
sity of adding ar least per cent. to
the amount of the present taxes, with the ex-
ceptioD only ofsuch as experience may have
- DC. uuE' DC, OF WINCH Hay Dt likely Is
to be come so from AN Interference between
the General and State Governments, in inn
posing taxes upon the same subject. A.
amongst those of the latter description the
ceramietce beg fcaye 10 sagsSst1epe-Thc
otamp-tax on notes negotiable ut the State
Banks. Whether the imposition ofthis TAX
was a violation. of good faith, towards the
Banks who had paid for their charters very
heavy premiums, need not now be consider
ed the only proper ground, for a repeal of
this announcement law. for altho' the princi<
pie OF such a law mighSb be extended so as to
drive the customs of the State Banks with,
cut the Commonwealth Tor the accommor
dation ct their respective wants, and il so,
would suffice to demonstrate the injustice of
the tax as the United States have required
the same paper to be twice stamped, and at
two several places, the policy IT continuing
this tax is no longer questionable in the q.
piDion Of your committee.
Your committee beg leave further to suggest,
that in consequence OF some difference an the
manner of Keeping the Auditors and rreasun.
er's Accounts, there is now a want of perfect
Conference between them not such indeed as
to produce a different result blu; such as TO
render the reports of those officers a less &c.
curate guide, than they would otherwise be in
any future ~estiH,ute ofreyenue and expenditure
lowing as yo ur committee believe TO 4 vari.
ance H. several heads of receipts ard disburse-
ments.
Your committee also beg leave to recur to
the reports of the committee of Finance sane
toned by the last General Assembly, and to en-
force the expediency there suggested of chang
ing the fiscal year, so IS TO make it commence on
the first Of October in every year, and to termi-
nate on the .30th of September of the ensuing
year. In addition 10 the advantage set forth III
the report herein referred to-. there would re-
suit from this change, an opportunity which IS
now lost Of obtaining in the form of special re-.
ports, from TIE officers of the Revenue, very
valuable information, during the continuance,
and especially in the commencement Of every
session OF the General ACKNOWLEDGEMENTS ,
Resolved, That the fiscal year shall hereafter
be made to commence on the first of Octobees
of every wear, and TO terminate OF the 3Oth OF
September next ensuing. That The annual re-
ports OF. receipts and expenditure of each year,
shall be made by the Auditor and Treasurer IS
earIyias possible, at every sssion of the Gener-
al Assembly. the report oil. the Auditor
shalt be accompanied with such remarks by
him, as may serve TO explain the same, 10 point
out any defects ifsuch there be in the existing
Revenue Law, and &c suggest the proper rene
dies therefor that whenever the Revenue is
likely to prove Insufficient, for the expenditure
of the commoRwealth-The Treasurer shall
su bjoin 10 his annual report, such
dation to the General Assembly of new sub.
49, VI w VI 1ANo WI IDC
old, as may in his opinion be best suited to
Supply the deficiency.
Resolved, that ali warrants drawn upon The
Treasury shall expressly reference to someo one
general head of expenditure, the cause for
which, they are drawn aud where the said war
rants arc drawn for a sum chsTgeable upon her
revenue Of a different year from that cut OF
which it is paid, the same shall be so express
sed.
Resolved, that all orders upon the Treasurer
TO receive any money due to the Treasury
shall express upon the face thereof, the par.
tieular head of General Revenue, on account
Of which such sum is due and where the same
is due for the revenue Of a past year that also
shall be expressed in the face of such order.
Resolved. that it is necessary to augment the
present taxes on lmds, lots and slaves, So as 10
provide tbereirom q fund sufficient TO REIN
burse to the commonwealth the sum assumed
10 be paid to the government of the United
States, on account Of the quota of the direct
tax assessed upon the citizens of this commons
wealth.