Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1844-01-11
Afrhmouo Correspondence.
RICHMOND,


SATURDAY, JAN. 6, 1874.
To 1te Editor IF The GaSette;
During the present week the House of Deleea.e.
has been engaged soieIy 10 the discussion of tie
I0@ BH. The dominant patty presses it with
lot haste Al the last session, spendthris of time
and money, they prolonged the consideration Of
the subj'c TIL the public patience was wearied to
its utmost point of endurance. Now, reasonable
time is not ao we'd for such examination as il es.
sential to right understanding of the princinle
and details OF the bill. The rebuke which they ,e
ceved and so justly merted, at the las elections,
has been snded with the saluiaiy es,.ct of OH
tanning their more Jealous attention 10 the public
interests but that sam. feature Of tyranng, which
marks the character Of the rulers Of the party IN
pats a the country, has oeen d. Ia, ed in their ac
lion upon this snhiect in an utter disregard of the
rights Of the minority. Against such ;yrunnv. no
rebuke awaits but that reribulion which an ou,rag
ed people innct when the stern sentence of con.
demnaton is passed upon the servants " no assume
TO lord it over them-anI that day of temporal
! judgment is at hand.
! The report of the Finance Committee announce.
that the rates OF taxation embraced in the las, tax
bill, with some notifications in the laws enforcioe
their collection, would pay Of the balance Of The
temporary debt of $3.50 900 due to the Banks in
the succeeding fiscal year, and leave large surplu.
in the Treasury; and that the temporary debt
would, thus, be discharged in about half the time
estimated by the Finance Committee he last ses
sion-thlt Committee having contemplated tbs,
the tax law Of that session would provide revenue
sufficient to pay off about one-ihird $50 per eepil
Of the dsbt annually; and having framed the law TO
accomplish that object and no more The present
Committee estimates that the tax bill of the last
session has provided revenue sufficient to pay or
ths whole OF that debt, except the sum of Si8 co.
Upon this basis they propose Il reduction of tazes.
Ii the estmste Of the COMMITTEES is correct. the
last Legislature, upon their own admission, is
shewn to have increased the taxes unnecessarily.
The scheme Of The proposed law is this: A re.
duction of 90 per cent. on lots, lands slaves. aud
horses (adoptipg the rates of the year l3l2 } and
retaining the remaining subjects of tsxsiion of the
last year, Q843) with the rates Of that year midi
misi'hed-except as to the tax on dividends of al
stocks ard on the interest Of money loaned and
notes acquired by purchase, which is to be dimin-
shed in proportion with the reduction on lands.
The reduction Of the tax upon the mems mention
ed, just and alternating osit is, will be hailed with
heartfelt satisfaction O her great interests, how
ever. will still Groan undor the buthen Of unfedu
ccd taxation.
The tax upon merchants is in the share il was
imposed last year-n graduation lax-s2O when
the sales are under SIS coo; (there being no dis
inction wien the sales are less,) SIS when the
sales over s. 600 and under 81 600; and So
on progressively. While thus the tax upon lot.
laods, slaves, ard horses ia diminished. the uer-
chants tax remains at its increased rate of last
year. This is unjust, iniqnitous And what is its
operation IL the merchant docs not by an in
crease Of h' price,, collect the TAX from his Gus
tomer' he does not pariake d the benefits Of redu
ced taxes. which bis neigbbors enjoy. If he does
80 collect H. the tax, last, falls upon the farmer
the mechanic, sc.
The reduction of 90 per cent Of the tax upon
bonds, &c, is, IN fact no reduction. TIE last TAX
law provided that only the ercess IF Interest re-
ee'ced' orsr and aboOe interest due By the tar
payer, should be suhjee; TO taxation. The present
bill taxes interest received, alo,ciag no reduction
Apart from the manifest injustice Of such law.
there are o'her objections to il OF The gravest mo-
ment.
The revenue arising from dividends OF all stocks
and interest on monies loaned, pnd bonds, &c &C.
qu'red by purchase, amounts to H. sum, onv, Of
fifteen Or twenty thousand dollar.