Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-03-14
HOUSE OF DELEGATES,

An act providing for the appointment Of superintendent
OF the PIECES turnpike and Cumberland Gap road and for
other purposes.
Al set releasing the Militia of Wayne from the payment
Of fines imposed hemin 1912 Oriaug attend the train
ing and rcgimenta muster in Cabcl county.
An tor the relief Of securities in forthcoming bonds
in cases OF injunction.
authorize OF the turnpike road
| from the Sweet Springs 10 the White Sulphur Springs.
And they have postponed indefinitely the bills concerning
the issuing OF OF alias purcs capas and provding
for the eonstueonoi slopes Suice dams &C.
dar Creek the division line between the counties OF Shenan
doah and Frederick"
RESOLUTION.
BY Mr. BLvT That leave be- given TO bring in bill TO
modify much OF existing laws renders ineligible the
office OF Bank Director persons who have served IN that
capacity three succession that provision
applicable TO the Romucy branch OF the Valley Bank
Tar Bal
The tax bill up the unfinished business Of the
day
The question pending when the House adjourned,
urday wason the two following Popostonsto fill blank in
9Th section
Ky Mr. HorNixs -on all solvent bonds or other writ
ten evidences OF debt for money loaned which be-
purchased and above the due from the ndy-
dual rendering in his list OF taxable property per
upon all interest due thereon the day which the list
OF taxable property properly Is required by law 10 be
taken"
BIZ. Mr. SPARK: "On interest received on all monte.
loaned the value OF $780, and the interest received
ON all bonds and notes acquired by purchase Tor the pre-
cedng year, dcducung hectro the interest due by such
eTeSt"
MIR SrARK's amendment rejected.
Mr. RANDoLrH thought that the only alternative was tore
aee steps and come back what the bill origin.
ally With that view he moved the following amendment.
which was IN substance identical with the clause stricken
out Saturday:
"on oil money loaned by individuals or
any bonds notes or other securities required by purchase
over aud above the in the aggregate of 800 per
Sehu on the amount OF all interest profits received
hceiron within the year preceding the list
ing or giving IN the to the Commissioner OF the Re-
venue after deducng theretrom the all in
when such individual shall be indebted 10
Mr. CoorEs was opposed to basng the upon the in.
icres That complicated and involved the subject and
would force every individual To keep every
petty transaction He was in favour Of taxing the bonds.
There would bc q difficulty IN that.
Mr. HorKINS concurred with Mr.. Cootes
Mt RANDOLPH contonded that ii they depar.d from, tho
principle OF taxing the interest," they would be at sea- with
out compass.
Mr.. TALlATERRo hoped the House would come n, once
TO vote ON this subject and by adopting rejecting the
amendment OF Mr. Randolph, determine whether or not
they will tax capital at ALL
Mr SrovALL called the previous question-orlercd
Mr.. KANDOLrus amendment adopted, ayes 50. noes
80
Mr.. RANpoLrH then moved to I'll the blank with pa
MIR. TALIAFERRo moved | per cent That was the
amount agreed upon by the Finance Committee. lie had
come with fear and trembling the proposition TO tax CAPT
tai lie had fears OF the result. He apprchcnded that
capitalists from other States, who had money invested here
would withdraw 1t speedily possible. As the expert
meat was attended with peril, ne should prefer small tax
FIST
Mr. RANDoLru said tax Of u was in fair proportion TO
the tax laid land and nothing but lust that the
capitalists should pay much as the farmer.
Mr. WEST gave notice that he would move a rccousidera
uon OF the vote, adopting Mr. Randolph's amendment
Mr. EDMUSps, of H. was in favor OF the smallest sum.
lie commented upon the unequal imposition upon various
subjects II tax upon all subjects imposed, equal
that upon plate 800 and carriages and on that of %
single year some milions-enough pay OF the whole
debt OF the State. The Chairman proposed raise $50
per cent more interest than proposed by the Com
miee. The Committee had no data-they did not know
how much money loaned the State and conse
queny how much would be raised by tax OF one
per cent They therefore recommended the smallest
which instruction the Chairman had disregardcd Mr.
E argued against the secton-that two Commissioners
or Lawyers, IN the State would TO the subjects
which would be embraced in Its provisions. lie animad
veTted upon the difficulty usccranlng the interest re-
ceived by any individual lie had been employed several
months u ascertain the result IN gentleman
and that was hltone case in thousand He gave no.
uce that this bill was rapidly assuming such FORM that ne
should be compelled against it.
Mr. RANDOLPH would not follow Mr.. Elmunds' illusions
TO the proceedings OF the commee-ghch illusions were
out Il order But he c5nenGod U. % per cent
the profits OF capital equal to the tax On the pr
ht' 81 the landowner The latter per cent on the
profits.
Mr.. EuNUSps replied TO NJ. Randolph, and contended
that there was more unceraiay in the value of bonds
IN land, and lst-y.hie their ysiue was so uc
tIa'Ins, that they should Je equally taxed.
Mr.. RAHpoLFH rejoined thai VI EdmUnd.' argument
40" was destructive OF his argument The other day, when
he cou,cndcd h=t tie should not exceed SO
cent' II lie w=s night then, nc Is wrong now.
Mr.. Rnnd1!pa.s amendment adopt-d-ayes So noes
5O-thc Speaker voting the affirmative Several gen
tenen called for had risen after the
count. But t!'e Speaker ruled that was too late
Mr. RANDoLrH moved to TIL the blank IN the following
paragraph IN the 9th section with 40 "on the dividends
Or interest profits OF all State bonds certificates of pub
lie debt Of this commonwealth, IN bonds certificates
OF debt issued by any public corporation. chartered by this
commonwealth and all moneys invested in the bonds
uhcaes OF pubic debt stocks of States of
C"ion or OF foreign States per centum on such diy.
dends interest profit"
Mr. GRAY called the ayes and noes-which were ordered
and were ayes S. noes 90.
So the blank filled with %.
When the name Of Mr.. TAYLOR called he obtained
leave TO make explanation Of the he intended give
lie stated that an objection with him for the
the principle involved (hc inclined to think in the pro-
position to tax debts due by the Stare of Virginia. The
creditor OF the State Of Virginia had relied upon the faith
OF the State OF Virginia pay oil the State had agreed to
pay TO pay II fully To pay less than the State promised
TO pay compliance by the State with her contract
and to refuse TO pay what she had bound herself to pay
as utboT was very AKIN % neutrality-suspicious. in prn
cple-inyaldaung the Sutcss contradictions 10
comply with II, Virginia originally agreed she under
stood the obligation Of her contract when she entered into
i-and as the creditor OF Virginia also understood It, and
expected the Commonwealth Of Virginia comply with it,
Whether the deduction from the amount which the State of
Virginia had bound hesef pay; the consequence of
her direct refusal To the deduconor the consequence
Of her imposition OF tax-the effect the somc-and
each equally If done would be her Hcddnoi however,
deem n necessary this topic There were
considerations however which would induce him for
the section This House had already determined
the tax on Merchants, and TO the Stocks Of the Banks
degree ayerse to tax the assets Of others especially when
derived from moneys perhaps accumulated IN Virginia
and invested m the bonds, certificates Of public debt or
Stocks Of other States OF this Unon of foreign States
The owners Of such enjoyed the protection and benefits
provided by the laws Of this Commonwealth, which others
cnoy-and hc not willing that those deriving such ad.
yanages should not participate IN the burthous imposed
Others provide convenience for the first well other
members Of the communicable would therefore aye.
Nr. WEsT moved to reconsider the vote adopting Mr.
knndolPhs proposition TO tax bonds, interest, &c. Mr..
W. proceeding to give his views, when he called
"a order. lie asked leave proceed, which refused
lie was then ordered very peomptony by the chair take
his
Mr.. HorKISs was IN favor Of reconsideration The mo.
ton 10 reconsider was lost, without O count.
Mr. RANDoLTH moved to modify another clause IN the 5I
section, read
On all yearly income in money, accring each ind.
ydual, and above the $3.50 in consideration Of
the discharge Of any office enpoymentn the service Of
this Commonwealth Jr any other Government or body DO
lite or cOporate joint stock company otherwise or in
the employment Of any company, copurtnorp individual
aI.-a.n Il.