Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1825-01-18

which, on his motion, was laid on the
table, and on Mr.. Dromgoole's motion
was ordered to be printed:
The Finance Committee reports the
total amount of available funds of the
Commonwealth for the present fiscal
year, to be S553,zl3 IS, and the ex-
pendituresf for the same period, they
suppose to be S4a6,so6 81, which leaves
an excess Of receipts beyond the ex.
penditures of Sll6,So6 70; this SUMS
subject to appropriation by the present
General Assembly, and the greatest part
of it is now actually in the treasury.
Of the public debt, the committee
says, it consists of an unascertained a.
mount of old per cent. certificates,
which they suppose to be about S7o,-
600, and $4,000 of seven per cent.
debt held by the President and Direc-
tors of the Literary Fund; the former
they advise to be called in, and their
advice has been executed in part, by
the passage Of bill by this House for
that purpose; of the latter they say,
'its redemption at this time is not con-
sidered important to the interest of the
State, as it could not probably be as adj
vantagcously invested again. what
was the language of the committee, is
now, the language of this House, for it
has adopted the report Of the commit
tee. 1t surely is not the intention OF
the committee or of this House, to keep
up the taxes to their present rate, to
raise money which the House by thea
doption of the report, declares it is not
important to pay.
Allmoney drawn from the people BY
taxation beyond a fair estimate Of the
certain and contingent demands upon
the treasury, is, to say the best it, up
on speculation; the more we speculate,
the longer we shall stay here. The
length Of our sessions is a subject Of
universal complaint, and it is believed
that no scheme to shorten them is so
efficient, and none can be so fully relied
on, as one which is based on a mode
rate income; besides, the bold, intrepid
attempt that was made at the last ses-
sion of the assembly, TO seize upon our
excess of revenue and pledge it as a
perpetual fund for the payment OF in
terest upon loans, cannot soon be for
gotten.
The foregoing estimate is submitted
to shew the rate of reduction OF which
the present tax is susceptible; it embra-
ces every item, either Of income, or ex-
pensc of an ordinary or permanent cha
racter, which is contained in that OF the
committee. 1t cannot be wrong ifthat
of the committee is right, for the per-
manent items, such as are likely to oc-
cur every year, are the same in both;
the only difference that exists between
them, is, the rate of taxation supposed
there, and that which is recommended
here.
Thisestimate shows after reduction
of ISL per cent. from the property tax,
that there will be an annual saving TO
the people of S5s,So2 80, and besides
that saving there will be an excess OF
receipts beyond the disbursements, OF
SI4,583 As.
To this excess may be added the
portion of the surplus Of the present
fiscal year that probably may not be APP
propriated by the present Assembly,
and also the saving that will result from
an adjournment by the 10th day OF Fee
bruary; the two sums may fairly be
supposed to be $4,000, which added
to the Sl4,4S3 As, will make the sum
of S34,4s3 As, subject to the contln-
gent calls Of the next Assembly.
RESOLVED, therefore, That it is expedlen5 70
reduce the taxes upon lands, lots improved OF
unimproved, horses and mules, and upon
slaves, about 1871 per cent.
rive regret that we have not room tor hr.
P's tables of estimates. Their prlncipai varl-
atoms from those Of the Committee OF Finance
consists in the application Of the principle
laid down in the Report, viz. the deducensm
the first instance 1871 per cent. on the rece!p's,
estimated by the Finance Committee ron
lands. lots, slaves, and horses and mules. Inc
effect of this deduction runs through one OF
two of the subsequent items, such as the a
mount of probable Insolyencies, sheriff s com,
missions. &c. and it is seen in the sum TOTAL o,
Rec,;pts. which instead Of being S55o,2l3 %
as by the committees Report, IS estimatea W
Mr.. P. at only AL, 1913 45-In the table OF
disbursements, Mr.. p. estimates the expenses
of the General Assembly at 10000 instead OF
1OO. 600 dollars-and of the Lunatic Hospital
3. 500 less than the Report-it besides throws
out some few items, as balance OF appropria,,
ton to the penitentary building, additional
appropriation to the Governors house, cleo
ton of President and Vice President OF the
U. S.-pay of agent to Kentucly-and Propa,
BILE expenditure for Lexington arsenal ana
guard house on the Capitol Square:-athauas, es-
timating the expenditures about S3o,oo less
than the Report:-Mr P's Estimate conciuaes
thus:
Total amount of nett Revenue
ofan ordinary and permanent o,.,
character sf~t'"
From which deduct the totals a.
mount of disbursements OF
an ordinary and permanent IN. o,o ~
character "o'''o