Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1858-03-19

cordine 10 The es'imatse amount the sum of
81 $50 COG - The Legislature OF 1856, had to levy
q tax which would bring in revenue sufficient not
only TO meet the current charges upon the treasury,
but also discharge this large deficit. They deter
mined by nesns OF treasury notes TO distribute the
liquidation of this deficit through period of three
years. This tax Of 10 cents. was accordingly levied
sufficient to all the current charges upon
treasury and, in addition TO that, 10 pay of within
the three yeara, the large deficit then existing speak
with the Finance report of that session before me
The forty CENTS supposed 10 be ample, not only to
support hs wants of the State Government, but also
to pay OF tbs whole Of this heavy deficit by October
1859 And In this estimate the Committee expressly
dc inc to have any regard to the increased receipts
from the new assessment Of real estate because the
bill for that purpose had not yet passed. The in
creased receipts account of the assessment OF
real estate, amount to $780,, 945 AZ for each year
commencing, however, ony III the years 1875
Without any regard to this increase, ths Finance
Committee of 1856, With Mr. GARRETT Of Essex, AT its
head and the gentleman from Harrison second upon
II, estimated that the 40 cents lex would meet all
the wants of the State, and pay of the whole dehc
oy the hrst day Of October, 1857 by the new
Of real estate an addition TO the estimated
receipts Ut nearly $SO0000, within the three yeats
contemplated by that committee, has been made. aud
Yet the minority OF THE COMMITTEE of ours comes here
20 show, that $67 ,ooo of this deficit will still remain
unpaid on the Ist OF octooer 1889 Every body con
ceded then, and, suppose, will conceds now that
tax Of ~ cents 10 the hundred dollars will bring in
more revenue, than our current necessities REQUIRE
II was levied TO support and pay of, three Years
deficit OF nearly $1,000, QUO. According even IN ,h
minority Of the Finance Committee it will, BY Oco
bar 1859 have paid eff al Of :his defci, excep, ssn.
s67O0O the appropriations proposed at this sion
should Increase this deficit to $25O OO0 or $500 00C
is pr-posterous TO cay that any increase Of taxation
will be- required because The present rate of taxation
has been proved efficient TO keep down deficit Of
million end half in addition to the support of the
Government The present rate Of taxation was
avow-dly levied 10 raise much larger revenue than
the ordinary charges upon the treasury require The
extraordinary charge upon our revenues, created by
this large deficit OF October 1856, will, according 10
the majority Of your committee, be wholly paid of by
October, 1885, according othe minority OF your CON
m!ttee, almost wholly paid off. Alter that time y"u'
revenue, which is LOW equal 10 all the crtins'!
charges. and 10 the extraordinary charge Of delrayi
this deficit, must. OF course, be sufficient to
psh something more, than the ordinary curren,
charges. The present revenue IL equa 10 the orGua
ry ard extraordinary charges both. When you ,e-
ieve II of the extraordinary CHARGE there must be
rsegurpos unlsss Jon increase the ordinary CHARGE.