Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-08-08

To the exclusion of much other NATTER publish to-day
an official copy Of the New Constitution.
That portion Of this instrument which relates to
taxation and finance deserves particular attention. and will
doubtless with universal approval II provides fol-
lows:
l. Except slaves all property shall BIO taxed in proportion
TO its value.
2 Slaves twelve years of age shall be taxed the
same land worth three hundred dollars. Slaves
under that age shall be exempt from taxation and such
other property majority of the whole number Of the Lee
Risature shall concur in e1emping.
g. Every white male nhabant shall pay capita tax
equal the hundred dollars worth Of land; but
the Legislature may exempt persons nrm in body from
this poll Half of this shall be fund for primary and
free school education.
Incomes salaries and licenses may be axed but If in
comes are taxed property from which arises shall DO
empt; and licenses taxed the capital stock employed
in the business licensed, shall be exempt.
S. No money shall be drawn from the treasury except
n pursuance of ncts of appropriation, and statement
OF receipts disbursements appropriations and loans shall be
published each session. with the acts of Assembly
g. Debts of internal improvement companies and other in
corporations to the State on account OF loans heretofore
made hereafter be made shall be released and the
State shall henceorh guarantee debts Of any corpora
ton.
The debt Of the Commonwealth existing the first Of
January next shall be ascertalned An amount equal 10
seven per cent the asceaned shall be apart
fund six parts shall be applied TO paying
public deb and the remaining shall be held for
the liquidation of the principal it becomes redeemable-
the periods of redemption be hand TO be in
vested in bonds of this Commonwealth or of the IT, States
or of other States of the Union.
After the first day OF January 1852, whenever a deb,
shall be authorized eight OF the amount shall be set
apart annually from the accrung revenue as sinking fund.-
six parts of which shall be applied the payment interest,"
and the remaining parts to the liquidation Of the princi
pal in the mentioned above The General Assembly
shall not change tho application Of these sinking funds
cept In time OF war, instruction or invasion.
Inc Legislature may at any t direct the sale Of the
States shares in internal improvement and other companies
but the proceeds OF such sale shall be sinking fund.- for the
redemption OF the interest and principal of the public debt
Debts shall not be by the State of longer
standing than thirty -four years.
The first of these provisions which requires property be
taxed according its value will remove great deal OF
hardship which has heretofore been experienced chiefly BY
the poor and citizens who from their condition occupa
tons, inferior qualities of the subjects of taxaon-
much as another and with immense variety of things
which are the usual subjects of taxation Specific taxes such
have heretofore been usual in this State operate
very unusty and unequay upon Of inferior things
OF the same species making the per cenage of their
lion upon value enormous, while that paid by classes
ing articles Of the better qualities is very inconsdeabe
I'D uGlorem taxes always just and equitable and
This single clause of the Constitution destined TO gain for
il a wide and deserved popularity.
The second provision establishes uniformity between the