Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-03-13

10 upon this grand question, and 10 hold the Legislature
responsible tor refusal do And there dec
majority an this House, which could direct and govern the
action OF this Houso-and he would hold up before the pco
pie OF Virginia, that majority Responsible hi. important
inns vital subJeet-ths Virginia questionable given the 10
by.
And this too after the lofty strain in which we have in
dngod IN regard 10 this former days-what
Ne would do-what would never submit 70! Sir N
NC refuse TO act now. we give up all.
The vote being taken, decided take up the
ce by vote OF 10 10 IS. The motion thea being
Ming the subject the order Of the day for Monday next
Mr. Hopkins offered amcndstory, that "Wednesday be
snbsuutedior Monday This Mr. Taylor opposed, having
been taught by experience already what might the
gnenee OF making this the order Of the day day.
Indeed he would prefer IN o'clock Monday but for
that that being the hour or meeting House then was
never iu-eut he would be willing make it IL o.
clock on that day. lie could consent to "Wednesday
Tue House decided To make it the order of the day Tor
PETITION
M frRDr presented the petition OF sundry citizens OF
northampton County, praying the passage OF u Law
to'isc the citizens of said county convey oysters out
the waters ct Northampton and farther u impose tax of
dollar per Ton on each and every vessel engaged in said
referred to the committee of Courts of Justice
The Tar Bill
ms bill came up Us the unfinished business.
Mr. RASuoru said he instructed by the Committee
OF FINANCE to move one eentum dividends declared
byeNery incorporated Joint stock company MIR r. regret
ted that he differed with the Committee felt cons,ran
ed To move Tor himself, % per
The SPEAKER informed Mr. Ranolph ,hat n. ro,ld No,
move Two Smounts-one as chairman and one as member
lie must contine himself to one
Mr. LE,Kr, OF A.. moved the % per cent and though,
at JUST ana reasonable tax and in fair proportion to
that laid ON land. "
Mr CRurcirIED observed that the capital vested in Joint
STOCK companies had for several years past yielded very
small proht-and was not able bear n heavy tax Tb,
100 was an experiment. and good policy to lay
small "a first '' ~ - -
Mr. MRAE seconded the views of Mr. Cru,chfeld. and
gave notice that he would proper time move an amend
eh' ehemPung all stock from tax which does not yield
per cent per annum.
MIR. SrRorurR aryu.d in T.,,. -, a..
posed. ~ P'
MIR. CRuTcuFmLp further explained his views He wa,
TOT Ang capital wherever found, but in reference TO Joint
companies, caution should be used. Capitalists were
induced 10 invest IN these companies. with no reason to an
u3ipa'e tax In most instances the capital i'm internal
Improvements was dead capital
Mr.. RANDoIFu said upon this Question don.,d.J tho -
ue question tax upon captal-vh should
o thrown upon one class and upon another lie en-
forced the proproy OF laying the ga If the dividend
ieSeh per cent the tax would be 10 on every
hundred dollars OF dividend
MIR: CARTER opposed the y per on dividends lie
thought 1t too high. IL much the interest of State
To have manufactures within her limits as To have the land
wei! cultivated One was essential To the other.
ne motion TO fill with - decided in the alfrma.
uvc-6i 10 I6
MIR. McRAE moved to insert a clause so rs to limit the
tax to annual dividends Of per Negativcd.
M GARNLrr moved 10 reconsider the vote fixing tho
tax on plate over 500 at two per lie thought the
too high.
Mr. Lr.KE of A. supported this motion. lie could see
no justice in so high rate.
The motion to reconsider was ncgatiyed
Mr.. FRAZIER moved To reconsider the vote impo-ing
tax OF % cents wooden clocks.
by tie vote
Mr. BRoADus gave notice that he would move to amend
bV Striking out tile words on all money loaned out a nte
rest" &c, including the tax on ncome and TO inscr,
clause fixing tax upon law process.
MI kANDoLrH proposed some amendments TO this section
to make 1t correspond with bill passed few days since
Agreed TO.
Mr. T4IArEREo suggested amendment to insert after
the word income the words Except such fees as may
be derived from the practice OF Law OF Medicine" Mr.
RANDOLPH acluesced and this amendment was agreed TO-
MI Lewis proposed amendment, only TO include
capital where invested 10y shayers money.lcnders &c
MI BROOKE suggested that under the clause rs II now
siancs, merchants would s be taxed their licenses and
men %" bonds and notes taken for goods which often would
prove unavailable
Mr GALLAnrR inquired whether n security debt paid
for friend would be deemed loan And asked whether
tax upon interest received last year would be an er
post fdcto taxi
Mt RANpcIFH replied that u security payment would no,
be deemed money loaned.
Mr.. LEWIS motion failed Pending this and other oucs
uons, much confusion preyaed many members frequent.
ly asked the Speaker, "wha the question l'-and the
Speaker every few minutes, would announce that the pro-
ccedings would be arrested until the House to order;
and he at the time would order the cleared
and gentlemen by name to take their seats.
MIR. HoLLEMAN moved u strike
'On all money loaned interest by any individual
or holding bonds other Tor money so loan
ed dsburSed or invested, any bonds other
curlhcs acquired by purchase per centum tine
amount OF all interest received within the year next pre-
cedng the time Of listing giving the same the Com
mssioner OF the Revenue, deduciing hereirom the
interest on all IN which such individual shall be IN.
debtcd TO others" and insert
ION all money due by bond, BILL other obliga.
ton bearing interest per centum OF the Of the
interest annually acerungPrOyidcd that accrng
onnsolyent debts shall not be included"
Mr. H. coniendcd that the section it stands is in.
definite that 1t never be executed Not one man in
hundred could tell the exact of the interest he
pays Ills amendment simple and plain Ii
proposed to tax oil the interest aecruing all solvent bonds
IL could be objection IT, that a might owe as
much was owing to him That often the case with
iarmerswho had to pay tax land and negroes-a,ho
they might than the value Of the lands and ne.
grocs.
Mr.. YEKDY thought Mr. Holleman had made i, verv
clear that the section under consideration could be
cuted because 1t was unincgibe. Bat Mr. Y protested
against the principle Of Mr.. HIS amendment II was not
tax upon eaPal-hu, might be upon poverty itself 1t
was also double or treble upon the same capital.
Mr. RANDOLPH had only proposed the surplus capt.
tai Of the country. He had revolyed the proposition Of
upon all bonds very anxiousy; but no had come 1,
very decided opinion against il expedicncy. IL involved
double tax upon the same capitallt itself with
oil the petty transactions Of society.
Much conversation ensucd true me anng Of the
section and amendment, when Mr. Garneu called for di.
vision on striking out aud Inserting.
The mouon strike prevailod-and then that to in.
serI Mr. ioemnns amendment rejected by acclama.
ton
Pending this motion, several gentlemen read amendments
which, AZ a proper time, they would submit.
Mr. GARRETT moved 70 insert the following, in the blank
made by Mr.. NOllemans motion:
"On all money loaned interest by any individual
and oil bonds other for money acquired
by purchase by the thereof per cent on all sums
and above the Indebtedness oi sucn individual
othcrsprpydcd that insoycnt debts shall be included"
Mr.. LEWIS, Mr. WoRrMSGToS. Mr.. HoFKISs, Mr. RAN
DoLrH, and Mr. CoorEs read propositonsto simplify the
subIect-which they would offer, If MIR. GarneWs amend
voted down,
Mr. GALLsnsR suggested that ihis section passed over
TOT The prcsoni-thai something might be considered and
agreed upon,
Mr.. M'RAE agreed with Mr.. Galaher; and as the mind
OF the House was evidently, IT he might speak, IN
broad-eos condition, they could come to decision on
;c point
Mr. TNrAFEREo expressed his opposition TO any tax
upon capital present. and the section IN that respect
blank he hoped the House would keep It blank.
Mr.. GARSETr's amendment rejected.
Mr.. RAsDOLrH moved l the blank with the following
"On the interest received all monies loaned tho
value Of $780, and tie interest received all bonds
and acquired by purchase, dcducung torrirom the
interest due by such individuals 10 others per cent"
Mr.. RASDoLrH said II this capitn was discarded
10 d.. .LnL .IlL