Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-01-02
4l4,230 90
0S3 ..l6 M
100000 90

nnnwea',h for the current year, 4l4,2S0 90
Interest on the public deb! falling upon the
Treasury, oS3 40 90
Temporary deb, due the banks, 100000 %
Total charges on the Treasury, 7,ooo AZ
Estimated resources oil the Treasury, 92-672 II
Probable balance against the Tr: asury
as above Sc, FORTH Sll6s2i 20
Remarks on the Rectpts and Expenses Of the Current
Fiscal Year.
The House OF Delegates viii perceive, that suff-
Gent revenue will be received from the Tax Bill of the
lst session. and other Sources TO meet the ordinary ex
penses OF Government, embracing the interest the
Public Debt, and to pay off all The temporary debt to
the Banks, except The OF Slls,000 BY the Report
OF the Finance Committee To The last session Of the &c
neral Assembly, it contemplated to paw Oft only
thirty per cent of the temporary debt OF $3.50 OOO due
the Banks, Sl05 600 annual ydIstrbuting that debt
into annual payments of SG3 900, TO prevent too sud
den and great an augmentation OF taxes in the then
existing embarrassmenls of the country The rates Of
tlIaton embraced in the last Tax Bill, with mod
hcatons in The laws enforcing their collection, would
in the succeeding fiscal year, discharge The whole tenn
poray debt and leave urge surplus IN the Treasury
The deb, would thus be paid off in about half the time
estimated by the General Assembly, when the taxes
were augmented. reduction may prudeniIy be made
on many subjects Of taxation, and sufficient revenue
still be raised to iquate IN the next year, the residue
Of the temporary debt paid at the close Of the
rent year. In the present condition of the country,
higher taxes should be lad. than absolutely
al 10 supply the wants of the Treasury. The repeat
ed 1nres crops and the low prices oil produce have
greatly embarrassed the agricultural community, and,
indeed, oil classes of citizens and whilst they
wonld cheeruy pay any rates OF taxation, necessary
for the punclai compliance with the contracts OF the
State, and 10 preserve unsued her public faith, they
would Justly condemn the imposition Of any bur
thens not strictly necessary for these objects. The
Committee cannot recommend the Laying of taxes In
foster extravaganza, To be squandercd in unprohtabe
works rig adherence TO economy, in every depart
ment of the Government, and proper reduction Of the
taxes of the people called for by every consdera
ton OF prudence and just respect for the public nie-
rest amcntabe experience has demonstrated, that
any surplus in the Treasury only invites to additional
appropriations and extravaganza, but becomes the oun
dation for an accumulated public debt. The commit
lee would therefore recommend that the taxes on
lands, lots slaves and horses be reduced TO the rates
of 1872 being IN average reduction Of near twenty
cen-that the tax dividends of all FL lcks, and
interest money loaned, which were bosed ratably
with land, be also reduced in proportion with the re-
ducon on lands BY adding to the subjects heretofore
taxed that of requests and de vises to collateral rea
tons and lnhertances by them, and adopting the mo-
d,ficat proposed in the Tx bill reported II the III
of Delegates, sufficient will be raised TO pay
the ordinary expenses of Government, inclusive oil
the interest the public debt, and 10 discharge the
temporary debt by The cl Of the next fiscal year,
provided The Legislature shall direct extraordinary
appropriations In case they do, they should lay
specific to meet such appropriation. To enable The
House TO Judge u the correctness OF the estimates oil
receipts and expenses of the Government for the next
fiscal yea, and to show the scale of reduction propn
sed in The tax b the committee have prepared the
statement d.