Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-06-06


es Pad by the east Is S5lS000 whilst the whole
from the west is 1000 with fractions. But whoeve
supposes this to be just exhibit of the contributions
e grand divisions, to the general purposes OF socct
VIII grossly deceive himself From response made BY
inc auditor to resolution offered by myself it appear
that there is charged against the east and paid from thu
treasury Tor county purpose and sectional charges thu
sum S2llOOO: which being deducted from tho .
Its tax $4,000 leaves balance Of $500 0OU-the true
amount of eastern contribution the general fisc, TO
the general purposes OF society The amount Of similar
Charges against the west s &l1500O which being cduc
ted from s260,000 the sum Of their taxes leaves bal
ance OF $4,000 as the measure of contribution
Tor general purposes against 1902 900 contributed by thu
east for similar uses. These proportions might be ma
teriay varied if the west be charged with the mantcn
ance OF The military institute ut Lexington and the in
sttuton for the education Of the Deaf and Dumb ant
Blind at Saunton, which might be strict Justice; but
"aiYe the charge. Let the east contribute their full
proportion to these most beautiful and holy charities
Let us share the charge and the glory Let us give Il
tiI@ eea through the power OF vision, the rich melody
G" the spheres Let give TO the blind through the
sense OF touch the raIen glores Of the realm of bliss
Let the proportions of contribution remain as $500
pad by the enst to SSo0Un paid b. the west
desire now sir, to exhibit brief estimate OF the
resources OF the commonwealth in conncxon with til.
probable dcman,ton the treasury
have stated that, according to the tax tables cxhb-
led by our auditor there revenues derived from tax
es equal TO S114,000 There IRE payable annually into
The treasury from dividends upon bank stocks owned by
Tue commonwealth III her own proper character the
sum Of Sl64.Q0O Add to this the sum of $1,000 pay
able IN the form of interest upon bonds due from the
James River and kanawha Company, and We have
SlSoO0U payable into the treasury from this source in
addition to the revenue derived from taxes If We look
to the fund for internal improvements We find that We
derive annually $4,000 dividends PAYABLE Oh bank
stock, given TO that fund By the commonwealth There
IS the sum Of 900 annually paid by the Banks in The
form Of bombs for banking privileges, given by the
commonwealth to the fund Let pOwrcfcr to the income
otthc fund from internal improvements The income derry
ed from all the works Of internal improv construct
cd within the limits of the commonwealth from the fou
dation of the Republic to the present dav xesultipn
IRON all the expenditures incurred amounting now 10 a
4ct OF more than twenty millions Of dollars is So 1000
according to statement authorized TO be made BY the
the second auditor which believe larger than the
estimate Of the committee of finance of the house OF
delegates. Add all these and we have IN agure
gate income, payable annually into the treasury &C
corliny to the rate Of taxes heretofore existing Of
Si000O These the entire resources Of the State
Are they likely to be nbsorbedl
Let fora short space turn to the probable demands
upon the treasury No auditor would exhibit an es
mate for the annual regular expenses of the government
for the support Of the civil list for the regular annual
payments from the treasury in the ordinary admuisra
ton of public affairs for smaller than half mil
lion Of dollars This was the computation which | hat
high What are the other demands upon the treasury
We are informed, and We know that the public debt
the actual funded debt III the commencement of ms
December. equal to Sl0,50U,0OU But is that tn,
whole public debt There ut that time due from
the treasury, without the necessity Of future legsat ion
sum- payable under the sanctioa of existing laws
Of n Gou00o. Charters of incorporation had been
passed. granting TO companies. the right to form them
selves 10 become organized aud TO call upon The trcasu
rs for the payment of the Of 81 100000 There was
no occasion for future legislation. The faith Of tn
State wa, pledged. The companies organized. TIL
works actually in process of construction and thu
money be puii of tie treasury fast as The
works We're completed. Add this t. the SlU.5u0,O0t
then actually funded, and have debt Of 3lj 900 DOi
and n fraction But this is not all there was at thai
time authorized by act of Assembly the additional SIN
os ssU0OGu ana fraction, in which the companies had
not been organized, but i'll which they might be organ.
ze, and many OF them have since been and can instant,
E call ap 10, -. s;;li'ioual sum Of $500
O0Q for which payment is to be provided, and whitl
interest vii! be payable. If We add To his til,
appropriations made ly the Assembly 1T its last session
amounting So. 5uu 800 have an aggregate public
debt Of slS.50Q.0Oo
II is n fac: which ought to be known to the people .
this Commonwealth that they have at this time an cx
;.tnr debt of 81 800 OOU to which we NAV add the SUI.
Of 81 100000 for which the State is bound in giarantc,
bonds rs security for several corporations 1t has al
r.ady been recommended by the chief magistrate of til,
Commonwealth that these S4u000O0 shall be assumed
by the State herself No man fprcsec how soon tina
event will occur 1t lis probable that il will occur
a. it is represented that the debt in its present FORM
more injurious to the public interests than if it were m
from the State herself When this shall he assum
cd the public debt will amount to $o2.J0UO00 1t bu
ot Oh been stated that the Commonwealth has done no
thing for western Eirginia-that the Commonwealth ha
dom. nothing fer herse-that this governmental major
; in the cast has suffered the State to angush and /,
:I.f,o ba, IL,
we'll excite the pity of her Sir have shown 80,
In, debt for the purposes Of internal improvements
has been contracted equal to the sum of 500 800 900
B, these works which have been commenced. are not
col,pIeed have undertaken to form estimate Of
Tho nrohabe cost Of completing such works as are al
rcniv IN the course If consrlictioliroC works which
have been projected not works which exist III Ideally
hut works already i'll of construction, TO which
The faith Of the State las been pledged had estima
tnd tie probable cost Of completing those works If
900 proposed that The subject should be re.
rrd TO the consideration Of the president of the board
of public works who referred to the department 81
h second auditor and report will soon be made to thi3
nod by which will be a-ccrtalncd that the SUM ne
c.or 10 be paid to complete the works i'll process:
.of constructions will amount to Sl75oQ,0o0. And now
air let this Convent ion pause, and let the Commonwealth
of Virginia reflect that when this 81 100, 600 snail he
added to the existing debt Of the Commonwealth it will
be *40u0O,Qn0.
TI;. sum of SlT5C0, 900 is not required to complete
works in embryo or which exist merely in dreams but
surb "a are already undertaken and to which the lhtt
If tho State is held to be. i'll measure pledged
Mr. Chairman hive thus exhibited On existing debt
If SOP 100000 due from the Commonwealth. nave
exhibited an additional prospective debt OF sIooooot
forming together an aggregate OF $4oUOoo0O to be aio
by the people OF this Commonwealth; and now We are
cna,c1 to form rational estimate Of the probable al
nual demands OH The treasury.
When the works i'll progress are complete, ana ti.'
1eht Of JoO00.0U0 actually lunled-whleh Time H''is
soon ony, il the money be procured on !oai-tH'
rnu. interest will be $a4O00C0. Add 5up,Voo Tor the
,n,,r of the civil Est and the unavoidable annual tx
ncn,litur. and $4,000 for incidental and casi"i dc
ponls nm the treasury which regularly occur "lt
- l, find occasion cr S3.QG000O To meet the Hnhiil
demands on the treasury. But before We reach I'M
t.,,. f r,,rress in the construction OF Improvement,
J IL. accumulation of debt il MAY be useiC! to csti
mate the probable demands OH the treasury II MS al
raodv been shown that the actual funded Gcbt o. Tue
cn,n,o,,r.olth must soon reach the point o $500
nnn ,I. annual interest OH which must be =lllpouu
.d IL, ANIMAL expenditures OF government, s3OO00o
anJ we have the SIR, OF expenditure equal to . 6l0
no0. with the sinking fund which viii probably be I'll
rsc cd l the new constitution equal 10 :2ooUOu con
st,,t;,; nrolable annual demand ON the treasury
~ s10 ono 10 bc satisfied BY the sum of y 4Oooi
..oJ IN tho schedule of resonrccs-and leaving to b'
I'D bv increased taxes the sum of :650,0o0
Tho Iree Of Inconvenience to be encountered BY tht
reonIe nav be imagined by rejecting that the present
tax on property il s3S4ooo! Lsl 'i' eo eit'oh P'us
.AonS