Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-01-07

him At for 800 his quota to tho $4,000 900.
which supposed DO subscribed to Internal Improves
ment, he would be all injured by this demand. The
proceeds arising from the tolls which will be paid TO Co
vernment, will amount TO $120,000 the interest per
cent the 900; consequently the expenditure Of
Government remaining the sane 1920 900 OF tax may
be RENTED And thus, it, have supposed, the
whole tax formerly was S2i000O, will have pay
only SO that he is all injured by the operation
this system, although cent OF money is repaid him.
lie is benefited by the remission of III the pro-
ceeds from the improvements should be than g. say
per cent, would then have to pay to government
ly So surprising the expenditure remain the
This to would be equivalent positive gain of $i6
sc 2-3 III the proceeds should swell to per cent this
wouldbe equivalent to positive gain OF $33 33 l3; for
he would now pay only 81 tax Finally If the proceeds
should ever amount TO IL cent all the taxation would
entirely cease according to the suppoon above made
and the advantage accrung to would be equivalent
$780, All dividend beyond this point might be disibut-
ed among the people, have supposed the whole
pendure of Government TO amountto 1910 900 ONLY IL
per cent? them according the the point
towhch the profits the $500 900 may proceed be-
fore any money would be refunded the taxpayer; after
this, his positive gain would commence. Yet IL is evil
dent from the statement made that he was bene,tcd
soon as inc proceeds oil the Improvement exceeded six
cent.
But, even granting that the will not at first
be paid on the capital expended still the improvement
may be justified upon polico- economical grounds when
there is strong probability of its yielding the
est in short time. We have how these improve
ments tend to deveope the resources of n co,intry-
changing the wilderness into cultivated fields rearing viii
lagos, and towns, and crowding them with capital
population Commerce increases from year year, and
with them The tolls advance Thus although the improve
mcnt may not be sufficient at first pay the int
neratc, in short time, that of business which
will accomplish il, and ultimately perhaps 60 far beyond
30 that would finally operate gain rather than loss
to the State The improvement in this would be po-
tc on the part of the State, precisely the same way
II Is sometimes advantageous the farmer to clear and
drain particular piece ofland, or reclaim marsh though
no Is wei aware, that from unavoidable mpediments
thrown in the OF cultivation, the particular state
OF the SOIL the crop of the first year will pay him
teres on the money and capital expended Let Illus
trae this subject by examples Suppose So 900 900 SUBJ
scnbed the State andony per dividend at first to
be yielded when per cent is paid on the capital borrow
Cd Now If for the first five years the dividends should
fall below per cent, but for after they should rise
above then the improvement could certainly be justified
on economical grounds The of interest," however
must be added to the capital thus if the first wear there
should be $4,000 of the interest unpaid should be added
to the capital and make So 900 as the capital on which
10 calculate the next years interest
The New York Canalis striking exempliiication
Of what has been here remarked There is scarcely
ciuzcn IN this widespread republic, who could now con-
denim that work. and yet ii did not Immediately paw the
interest ON the money expended and the repairs:
nc PROBABILITY now is, however, that it will fail
hereafter TO pay and even more than pay, those items and
consequently the tolls will ultimately be source OF wealth
and revenue to the State.
1t may happen that improvement may never paw the
Interest and annual expenses and vet NAV be
10 the State whole: this would happen where the tolls
were SO low as not to yield the required but where
ey might be raised 10 the proper height without DESTROY
sng the trade will illustrate by an example A. living
an inc INTERIOR produces tobacco: consequence of the
VI VIC improvements, ne pays l-2 30 TO
getit to market The Improvements are completed and
me toll Is low he get il market for 2 per
From cheapening the transportation, it is evident he
pockets 20 per cent for his tobacco than ormerlv
ans income increases; his land rises in value, in cores
pondent rato therefore in this case, though the tolls
may not pay the interest and expenses yet the State as
whole may be benefited But in this case CONSIDERING
inc subject ina purely economical point of view one mart
oil me State might be taxed for the welfare of another
wmch would be unjust Government ought therefore to
% gauuous and not enter into those schemes which are
70 pay inc interest on the capital, except in GER
say. 49, '' "a "S i-s-