Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-02

,bap N former rea.s addressed note 10 The
Audi,or who promptly answers: ''!he revenue 81 az
) ears 10 have beea paid w. rather more puhctua''
diam tat q. ISL hn WITH Far less man ~ many st"'"
pccedsn: ISL. Ih.. : - sal Inc amount oF,'''sH
!, The So em.nts oil the present winter - pvt o'
srae! whsa coinpl:ed with the un'ou"' oil 'e e'"S'
.nye ITO ia, a,a.iy ,ss laa tia amount oil dr'1'eh
ci.s in ISL! IHc difference tactaa) however :" "
;.;, years IS not ye.y cans.iyiabe IL Is Ps''seIt
oovi..rs tfrn, Tie sturi"'" "' cur nm" = :; 80
ave, s,nlt b.. Increased bat 10 what extent IS VIZ
,,,,,.l ,uce,.oa :nYovel IN t'!ls o'scusson III has
been con;e AIDED t. srie, tat we sh'aiu "hoSS:" !"
nay no,hnr more tan the 'm!es, o. Inc Geo', anu ~
far they are Wiling TO nafcaa" !.'e taxes. Du' % ,o'
so;,ur ~. iceyc that the mmedlas iiahii''ies O. ,'V
Sat. ,rr now l.r beyond present raeans: " hht
Y.ou,d they have u with the Bank 'iSot' no" ''.s
hundred al -iiity thousand dollars ia" 80 Wy
one hcadrcd aad f.iy.cae thousand a"'tuts W ~ 49,
ad III Que s wear, aud the iiree huhuieo an" say
r ~ nod dollars due next ycas: Fund them again:
rn ,ye sha De compelled 10 90 10 some extent All
these pesa. liabilities are lar oeyonu 'ui p'es re-
sonrcss hui should that deter US from making Tue at
iemn, n hcudaie the whole al some period not tegoac
So, ,e,. /, must he OBVIOUS, that we Cannot do
,,.., doal hy the imposition OF taxes to relieve tue
orsseni wants Of the Treasury. But, say gentlemen,
,,.,,o,-;,.a YOUR BAN! stock. No, Mr.. Speaker, II
would be ycry uawse at present, OWING TO lis depcea
ION ,hus 10 dispose Of that fund Keep that SIR, for
some ,a,rg4g hen the situation nj the coenity might
no yo-ec or q least hen be sposed o Ia great
or o5v.al..e have thus briefly attempted 10 eiio"
the amount Of oGr debt md lis cnnuGl nieTest-".'at
IS GU. ni:ieaiac liabilitywhat ;he taxes have been
r,d ARE nj rresel.-aod what increase 10 necessary II
vcn .onfoc the Imposition Of 10 the present sub
ects Bot. SIR Speaker, suppose We resort To o'ie'
subjects (and this really TO be ilie hone oi con-
entio?) az! r:2duaie the present lakes upon se3;Ia
articles rated the list al last year: The larming
~ --icltuial interest who have heretofore borne the
arnc,nn burden of TAXATION VIII he relieved precisely
10 Tia, extent | DO not say, Scr, that am prepared
10 sanction I'll the views OF the CAarnaa q! Inc
Committee Of Finance, bot VIII ca operate 10 carry
them far they ere practicable. ool nav
M Lea,lsd statement Of The subjects OF taxIuon
proposed 10 he added, NEST postpone IL soWr duf'
day any calculation The amount likely to be reai
24d, and .. course cannot estimate TIE probable II
necessary upon the presen, subjects. lreTans
or ~ aow briefly 10 consider The object proprieiy and
heneii. of a sinking fund The object of this sinking
und not, as has been ntaed TO increase our innd
Cd debt; neither 10 postpone the payment thereof
II true, have before stated, that the funded ceo
becoming due the next ten years must be extended
yet that extension will certainly take place If you
create sinking fund !! IS true, that /, may be Ee-
cesSary 10 fund tie Bank Grtt, yet tie probability Is
decreased by creating sinking iund. ihere Is out
ORE and be but Object which -, gradually 10
decrease our funded deb. without rendering taxation
oppressive. But say gentlemen you ought no. at
present. in the embarrassed state of tie country. 10
create sinking .Gnd; you should postpone 1t Tor lew
Why, SIR, The very necessity oil ncfeaS"d tax
alton IS the result o postpcning suitable provision "r
the liquidation OF our funded deot The debt Is Oh The
ncrcaSe and must increase unless you raise the taxes
und what, . ask, be gained h. postponement =
Our debt, or which provision should be made, Is nearly
ss and half m,iohs it may and possibly vail be IN
creased TO ee!; millions H. in any giecn number
Of years, you should design 20 lqucac this Gsb, the
sooar. Won 5egin The less tho taxation. 10
illustrate Ire pos,:,on:-!t will require sinking iurd
81 eighty thousand dollars to qnlda:c The pTesen, debt
t:rtY years gu postpone lie creation al SINKING
und Until The deb, is eight millions aud then you al
!r:pt sinking fund necessary 10 fay that
heb. thit,y years: 1t no! perfectly clear at the
taxes must be ,uc.raSed 10 greater eAen III the latter
ease; II IS plain proposition tha' Argument IS
>0psfucn3 Il s scarcely NECESSARY 10 show The bene
fit ri sinking 1.-The ohsct carries with It and ex-
!a,s The result. Bat, fof psaci'ce! p:crnses, viii
append orc ca!cu!a;ions-and 10 illustrate NY
vIcws vail take the Bunk deb; as the basis II wi
~ t,snc II mind ihs, this suhing lund is 10 be applied
safely to the reduction nj the principals the interest
o. excess Of ,nsre: the debt provided for in tie
deficiency stated al seventy thousand do!!a7?. d. mol
mean TO base my calculations uran the principle OF
compound interest, bot reduce it 10 the every day prac
ice between Individuals
TIE Bank deb heing 53GN, zoe, and divided by $50,
0G0 the a;oun, Of the SINKING Iund ii wall require four
Ye-s nd six months io' lis liquidation. The interest
90 said sum provided for olherwise, is as follows