The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1857-01-20
"a
$790,OS8 70


Showing deficit for 1857 of 63, 237 AZ
| % IS " 1858 of74, $40 50
Total deficit for the next years, $l37 ,9l7 05
happening of any event that will materially
affect the above estimates, while at the same
time, through abundant caution, and to
save harmless the faith and credit of the
State, do not hesitate to recommend an in
crease of the public taxes.
The question necessarily presents itself,
as to the best mode of equalizing the bur-
dens of government, so as to bear fairly and
justly upon all its citizens.
The committee are fully apprised that
there is a great diversity of opinion upon
this subject, and have endeavored as far as
practicable, to reconcile those diverse opin-
ions 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 ad-
ditional sum would place the treasury in
easy circumstances, and meet promptly any
obligation likely to fall upon the treasury
within the next two years.
With this purpose in view we propose to
increase the land and poll tax twenty five
per cent, and all the other subjects of tax
alton now embraced in the revenue law a
like increase of twenty-five per cent. and
upward. We are not unmindful of the fact
that there is some uncertainty in any basis
of calculation that can be made, when rest
ing upon contingencies that cannot be fore
seen, but the estimates of that character
are small in amount.
The land and polls are the only certain
and reliable source for raising revenue :;
nevertheless, it would be manifestly unjust
to rely entirely upon that source. Wealth,
in every variety of form, 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 tax on land from
twelve to fifteen cents on the hundred dol
lars value; likewise to increase the poll tax
from forty to fifty cents; these two subjects
alone will raise an additional sum of fifty
one thousand two hundred and seventy
eight dollars.
A further increase on money at interest,
dividends and profits, to four cents, instead
of three, as now provided, would raise some
seventeen thousand dollars, and it is be-
lieved that if proper enlistment could be
obtained of dividends and profits "a very
considerable additional amount would be
obtained in that way.
And further increase on capital in mer-
stead of one fourth of one per cent. would
raise some fifteen thousand dollars, and q
like ratio of increase on all other subjects
of taxation would increase the revenue
equal to, if not considerably over, one hum
dred thousand dollars.
1t will be perceived that in the above es-
; Inmates no mention is made of dividends
arising from works of internal improve
ments, while it is believed our public works
arc in a healthy and sound condition, and
must, in a short time, be in a situation to
declare considerable dividends. Still, from
their very nature, they are subject to so
many casualties, and their dividends SO
fuctuating, it would be much safer to trans
fer 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, merchants tax, &c, as
sure, steady and reliable fund to eet the
States liabilities.
The books and vouchers in the comptrol-
ler's office are in course of examination,
and will be reported on 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 dis
charged by Mr.. Courts in a manner that
entities him to much credit for the common
dable zeal displayed in preserving the faith
and credit of the State.
If the bill reported by the committee be
adopted there can scarcely be reasonable
doubt of realizing therefrom at least half a
million of dollars as permanent source of
revenue; a sum amply sufficient to meet all
demands likely to fall upon the treasury,
and leave large amount by way of divi-
dends from our public works, to be applied
as the wisdom of our Legislature may de-
termine.
All of which is respectfully submitted.
GEORGE d. BOYD, Chm.
| ONE OF THE Rich MEN.-It is estimated
that one of the rich men of New York has
: now a regular income" of $4,000 day