Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-01-17
S79O,Oss.79
G3,237.47
74,679.5S
Total deficit for the next two years, !


The committee cannot well anticipate the happen
ing of any that will materially affect the above
estimates; but in order to provide the deficit which
will happen in 1857 and 1858, as shown by the
Inmates aforesaid; and likewise u provide for such
other demands may be made upon the treasury,
and save harmless the faith and credit Of the State,
do not hesitate to recommend increase of the
public taxes.
The question necessarily presents ITSELF as to the
best mode of equalizng the burdens of government,
so to bear fairly and justly upon all its citizens.
The committee are fully appraised that there is a
great diversity of opinion upon this subject and
have endeavored, as far practicable, to reconcile
those diverse opinions in the bill proposed.
In the estimates proposed, it is believed that an
increase of revenue will be realized of one hundred
thousand dollars, which additional sum would place
the treasury in easy circums ances and meet prompt
" any obligation likely to fall upon the treasury
within the next two years.
With this purpose in view VIC propose to increase
the land and poll tax twenty-five per cent, and all
the other subjects of taxation now embraced in the
revenue law like increase Of twenty-five per cent
and upward. We arc not unmindfnl OF the fact that
there is uncertainty in any basis of calculation
that can be made, when resting upon contingencies
that cannot be forescen, but the estimates OF that
character are small in amount.
The land and polls are the only certain and reli-
able source for raising revenue; nevertheless it
would be manfestly unjust to rely entirely upon
should be made TO bear its ratio in the general charge
and expenditure Of government.
The bill which accompanies this report proposes
to raise the land from twelve to fifteen cents
on the hundred dollars value; likewise 10 increase
the poll from forty to fifty cents; these two SUBJ
icc.s alone will raise additional sum Of fittyone
thousand two hundred and seventy eight dollars.
n further increase on money at interest, dividends
and profits of four cents instead Of three, as now
provided, would raise some seventeen thousand dol
lars and it is believed that if proper enlistment
could be obtained of dividends and profits a very
considerable additional amount would be obtained
in that way.
And a further increase capital in merchandise
to onethird of per cent instead of fourth of
one per cent. would raise some fifteen thousand dol
lars and like ratio of increase on all other sub
iccts of taxation would increase the revenue equal
to- if not considerably over, one hundred thousand
dollars.
It will be perceived that in the above estimates no
mention is made of dividends arising from works of
internal improvements, while it is believed our pub.
lie works are in healthy and sound condition. and
must in short time be in situation to declare
considerable dividends Still, from their very ma
ture, they are subject to so many casualties, and
their dividends tiuctuang it would be much
safer to transfer their income to sinking fund, to
meet the principal of the public debt as it falls due.
The treasury would then rely upon the land and poll
tax money at interest, dividend and profit mer-
chants tax, &C., sure, steady and reliable fund
to meet the States liabilities.
The books and vouchers in the comptroler's Of
fee are in course of examination and will be repor-
ted OH as soon as finished
The committee take pleasure in saying, that the
duties in the office Of the public treasury, which OF
late have become very laborious and responsible,
have been discharged by Mr.. Courts in manner
that entities him to much credit for the commend
able zeal displayed in preserving the faith and credit
of the State.
If the bill reported by the committee be adopted
there can scarcely lie reasonable doubt of realizing
thcrefrom at least half million of dollars as per-
manent source of revenue; sum amply sufficient
to meet all demands likely to fail upon the treasury,
and leave large amount by way of dividends from
our public works, t" be applied as the wisdom OF
the Legislature may determine.
All Which is respet fully submitted.
GEO. d. BOYD, Chairm'n.