Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1859-05-12
Sj39.OU0 w

The above item Of expenses Of Government
does not embrace interest on the guaranteed
bonds of the james River and Kanawh;
Company, for which the Legislature ma!
make provision, or interest on Treasur!
Notes-they being a temporary resource
The amount Of Treasury Notes which viii
be outstanding On the lst of October, 1859
and constitute charge upon the receipts OF
the fiscal years lS59-'60, cannot now be sta
ted with any degree Of confidence.
April 20. 1859.
RICHMOND, Va. April 80, 1889.
To +. A. STANDS, EsQ.-Dear Sir: You're
of the Doth was duly received and referred
Immediately to the lst Auditor, to have AL
accurate rough estimate prepared for you
To do this has taken some days, and &c
counts for delay. wished to be nearly Of
fcially precise in the answer to your FIRST
question:
what amount the present tax-bill yields
beyond ordinary expenses ofgoyernment and
payment of interest"
The answer of the Auditor is. in short
S50G, 5l655. This is estimated for the year
ending 3Oth September, 1860. The most, il
not all these deficiencies were made to fall
on this the current and on the last fiscal
years By the end of this fiscal year there
will be but a small balance of floating debt,
comparatively. Your second question is:
"Can the leading lines he completed with
the present tax-bill?"
The answer to this is easy, being DEEPEN
dent upon the answer to the first If the
surplus revenue, beyond present ordinary
expenses, and interest on public debt, esti'
mating prospectiyely for appropriations by
the next General Assembly, be a. is now
supposed or calculated, SjOG. 5lG.jj per al.
mum, debt of five millions may be created
at once, adding $780, 900 of interest at siS
per cent per annum, without increasing
the taxes, and leaving margin OF more
than $780, 900 per annum. to meet all con
t!ngencies.
The sinking fund is operating beautifully,
and will be still more efficient if the Legisla,
ture will but take the tax off State bonds and
heed other wise Recommendations ofthe pru
dent and faithful commissioners who now
manage it's operations. With the present
tax bill we eau easily complete all our lead
ing lines, canal and all, and make them pro
iitable to the Treasury, if We will but perse
we're and be prudent the next ten years.
Your third question it: what can be got
from the tax on OYSTERS
You will shortly see in the Enquirer the
full report of the Inspector at Norfolk under
the law for the better protection OF slave
property. Under my orders he has reported
the cargoes of oysters of surplus inspected
by him. His reports don't embrace more
than one fifth, and you will see his estimates
upon that. am confident we can realize
from oysters. per annum, revenue Of al
least S250Wm. lie estimates $500, at .
cents per bushel.
lie shows that there must be more thar
twenty millions of bushels carried out Of thu
State every year, which, at " cents, woulC
WELD 100000,
Deduct all exnenses. j0,0Ot
Estimated by him. Sj50,Oo(
ALLOW 80 per cent for evasions OF the law
on nv estimate ut S250.0N.
Besides oysters, you have more certain
less troublesome and more fruitful source I"
revenue in Insurance. You complain q
Northern agressions; none costs us more mo
npy than the tax upon insurance which oul
people voluntarily pay. 1t is not short o
SIj0.OO0 per annum. Why not let this b'
made to flow into the Treasury?
Respectfully yours, HENRY A. WISE.