Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-03-13

M other occupations forty cents on every eioo OF
valuc possessed bv them Tho merchants paws the .ame
on all his real Or personal property outside Of his capital
In business This amounts to Gao every $4,000 worth
OF any such property. To institute q fair and true
eompsrson only becomes necessary to ascertain what
sioo" OF capital employed In active business viii have
10 paw under this Law A. the license tsx Is regulated b,
the amount vt sales represented by sln uOu of @
the average must r- be fxcd This L. QUESTION of fact
only to be learned by careful investigation Such nvcst
CATION We hav. made; aud ~ho believe IN, orin,rv
proportion OF annual sales to capital " De ten to one
tiOo0oo on $4,000, and while one convcrsant with
trade will assert TO be less than eight To one We, "a
avoid all cavi NC take the esiimate 1T six to one g.
sixty thousand dollars OF sales thousand dollars
of capital On less than this Oh. capital would mot r
turn slvelhood. ny the proposed bill this ten thou
sand dossot property paws tax OF two hundred and
hity ak dollars, Instead OF forty dosrsur two dollars
aud hitysK cents on every hundred dolarlas that
the rate proposed be levied dollar, of
saes-or more than six times much any other prom
e IN the State There other calculations by which
the same result win be Appropriated as for instance
contrast ct the derived from this license tax and
the whole OF the State considered In
With the probable total Of business capital and IN, total
value Q, the entire taxable fund OF the State But We de-
sre In leave nothing To conjecture Nor do W, wish To
make ~ strong an exhibit possible OF the which
hes heavy Oh Our object il TO state the case In scb
si carry conviction with IT, The estimate of sales
capital a. six To one is undoubtedly within hounds
that scarcely intelligent business man would hesitate
| to make affidavit Of it, correctness
In some particular branches OF mercantile if this dis
parity Is grcatea shI The merchant who sells ON cou.
mission Is entitled to but ~ per cent on hi. sales "A hi.
compensation for selGny On sixty thousand dollar. a,
sales his entire income would no but fifteen bundled Adj
ars-and his tax there will s256 or one sixth of hi.
income. ~ " "
The lands in the Commonwealth have largely increased
IN value since the last assessment Agricultural products
Weld return which present like favorable contrast with
former years The old standard OF value being retained
l- actually no greater charge the landed property
now tn forty cNnts in the hundred dollars thar n -
heretofore to pay the old rate.
But the ability of tho merchant to make
pr9h' on a certain amount of sales is limited;
| indeed, by increased competition with other mark.
"r, ut late wears reduced. The pro.
portion OF tax to this ability pay his part is now to
bc exactly doubled IL il true the mere ratio of ineouai
~ remains the As he before paid only six times ns
much a. other avocaons he STILL by the proposed bill il
TO continue to only six times much Yet the s,.,,
"h'eh constitutes this inequality is doubled The excess
beyond his share with which he taxed before five.
siSthS Is now to become tensiShs The difference is Ia.
mentally wide bet~een the double of twenty dollars t
former rate on ten thousand dollars OF land akirr
u toty dollars, aud the double Of hundred and TWEEN
weight ten Thousand dollars worth of capt, fmski,
IL two hundred and fftysx dolars In addition 10 his
the annual amount Of salsis unsafe criterion of an
nnal profit. The at such sales NAV proyc and of
ten does prove, Of loss and even of bankruncv
Moreover" the ordinary profit upon sixty tboa.un
dollars OF sales will not afford larger income than the
annual yield OF ten thousand dollars worth of an espc.
ciay when the of value of such land il ascertain
ed by an assessment made arc.
Such is unvarnished statement of the grievance,
against which ask the privilege of Offering on,
respectful but earnest appeal aud remembrance To the
aets as represented and the consequences which they
e hkeN 10 lead, We refer to Justification We pra,
mat IN any future BILL we NAV be taxed II,
IKE manner, IN like ratio means by
the same tests, with all other citizens of our Common.
wealth IL Is not only the dispropotioned personal tax
from which seek relief hut the effects of motley
which seriously teuis Co dwarf the growth of the cities
and towns OF the State and from the Injustice of d..
crimiuation, which gives TO merchants as class an un
envable distinction among the citizens OF the
state IL Is true that those cities would nos harl.
" constitute together suburb of Il large com.
nerci1l emporium but this unhappy confession
furnish no prop to scheme which will contribute
commercial emporium Of the United States will furnish the
best aud strongest evidence in behalf of liberal policy
IN this regard. While millions could easily Ice Obtained
for State purposes by such the active capital of
New York. her merchants only hot subjected Il,
any license but capital invested in their mercantile enter
prizes placed upon the footing with capital invest.
ed IN real estate any other properly.
The history oi every commercial people plainly teaches
that while Of taxation upon active capital NAV
toy various eSpcents, avail for temporary purposes of no
venue III series Of years it defeats its object by re-
pressing the natural Increase OF wealth and opnation the
only permanent sources OF supply upon which the public
treasury rely.
Your inemorasts however seek exemption from their
obligations citizens their fullest extent Thov believe
that the weight Of taxation distributed eqtaby upon the
taxable property Of the State he easily and will e read
lily borne. For themselves they ask only equality And Tor
this they will ever pray. &c
HORACE L. KENT,
DAVID j. BURR
WIN. +. BUTLER Committee
LARkIN w GLAZEBROOR
BENZ. ". RICHARDSON