Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1851-03-25
ARTICLE w.
mT4~

T A X T ! o N.
SEC. /. Taxation shall be equal and uniform
throughout the State. All property shall be tax
ed in proportion to its value to be ascertained
by law. No one species of property shall be tax
ed higher than another species Oi property oi
equal value on which taxes shall be levied, but
any property may be exempted from taxation by
ia majority Of the whole number Of members elect
ed to serve in each house Of assembly.
A capitation tax shall be levied eqHaI to
double the tax levied ON one hundred dollars
worth tf land The legislature shall have power
to levy IA income tax and a tax on salaries. but
no tax shall be levied on income derived from
property otherwise taxed.
3. No money shall be drawn from the treasury
but in consequence of appropriations made BY
law and a regular statement OF the receipts
disbursements, appropriations and loans shall be
published annually. --
a}oTIty OF the whole number o! mem
bers elected to serve in each house of assembly
shall be necessary TO pass any law imposing
taxes or providing for raising money by tSxe.
loans or Otherwise, aPprOpriatiDg public money.
S. "On the final passage OF all money bills, the
vote shall be taken by ayes and noes and enter
ed on the journal"
6. There shall be set apart annually by the
auditing and disbuTsing officers of the treasury
from the revenue accTuing from taxation, and
the fund for internal improvements, sum equal
to seven per cent. of the State debt existing on
the first day of January, 1852. The fund thus
sci part shaI be called the sinking fund, )" and
shall be set apart and applied by the officers afOTe
said 70 the payment OF the Interest OF the State
debt and the principal Of such part as may be
redeemable. If no part be redeemable then the
residue of the sinking fund, after the payment OF
interest shall be invested in the bonds or certii-
Gates OF debt of this commonwealth, or OF the U.
States, or OF some Of the States OF this Union and
applied TO the payment OF the State debt as it
shall become redeemable. For the purpose
nd II
invest nent the said officers shall constitute q
board with all necessary power TO carry into
effect this article; the organization Of which
board may be prescribed by law. Whenever a
deb: shall be contracted after the first day OF Jan
uarv, 1852, the said officers shall, in like manner
set apart annually for twenty.tour years, q
sum equal TO eight per cent. of the debt at the
time OF its contraction, for the space Of twenty
four wears from that time, which sum shall be a
part Of the sinking fund, and shall be applied in
The manner before directed. The revenue thus
appropriated to the sinking fund with its accru-
ing interest, simple and comPounds shall not be
subject to appropriation by the Legislature, except
in the time Of war, insurTecton or invasion.
7. The legislature shall not pledge the faith OF
the State or bind it 10 any form for the debts or
obligations of any company or corporation what
ever.
8. The legislature shall not contract loans, o,
cause to be issued certificates of debt OF bonds Oi
the State, irredeewabie at the pleasure OF the
State, for period greater than twenty -four years
g. The debt of ihs State hereafter contracted
shall never exceed millions dollars
10. It shall be the duty of the general assem-
bly, TO provide by law for the registration OF The
qualified voters of the commonwealth, in suct
manner as to afford an efsctual check TO thC
practice of.fraud in the exercise of the elective
franchise.
IL. The Legislature shall have no power Il
abolish slavery within the limits of this Com
monwealth, OF to call the right of property ii
! slaves in question.