The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-02-15


For Fire Department. ........ A7s9 u
I For Poor Of the CITY. ........ 9sn2s
For Contingent Funds. 49,. II s2s 0s
For other permane mt objects. 10 4g2 s.
For other casual objects. 3l.3i0 81
the receipts and disbursements IF the city severn
ment for the next fiscal year. The receipts from
the Council for the year, are estimated at S223,-
9s6O2. and the disbursements are estimated al
r m: o a,s n aoss not ,iads z,
Council All appropriations for new undertakings
or far objects and purposes which cannot be fore
es,imare. In 1855 the Chamberlain est mated the
disbursements for 1867 at S427 a6 IS. and al
though there was a loatpx debt Of sSO.rOo to be
paid dufing the year, and the Council commenced
the year with resolution recOmme ndlng the strict
est economy. which the Committee Of Finance, in
their report IN March 1857 say was strictly adhered
to, vet the disbursements for the year amounted t.
$46s7 s7 g. exceeding the estimate S36 4s2 IL. In
nursements Tor the fiscal year Of 1857 q 37s6.
IFS So In tins year very large am ,Int of debt fell
s nd a mo tdere was
were Ssi5770S5 In the Spring OF 1858 the Cham
berlains estimate Of the disbursements in 1858 9.
per,od were $3.50 sos q. The Auditors estimate
of disbursements for 1889 was S4e6 2S9 the dis
Ies ts.s
give the full amount of the excess The estimate
states the debt to ne pad during the wear prnci
slsos9.s. ""' :" '''''' -''"''"s yet 70 10 pa'o
may be assured that the amount for which thu
Is about $500 coo; The estimate ri the Auditor in
ciudes debt Of 81 $50 due the 1st Of January last
not yet called for bv he holders; debt Of 900
due the ist Of July next and also debt Of $50 600
borrowed in January, which mast he paid b. the
these fhQr nd
enlargement Of the Wafer Works. The commit 'nr
tee are OF opinion that the Council should author
ize sale Of bonds to the amount Of 500 600 ar
that the remainder of the amount necessar, to be
II will be necessary during the wear to raise con-
siderable amount for The enlargement of the Poor
House. for building offices and shop fer the Wa
and possibly other buildings, which must be done
by a sale of bonds. and it may have = very injurl-
thrown into the market; and especially II il IL
seen that the Council hestates to impose the taxes
Tsknr Gres its
amount to be raised. if the Central and Danville
Railroad Companies shall make the same DIVIDENDS
the last. there will be derived from these sou
the sum OF S23 $40 Leaving the sum of SIG; 500
the Il as BY ;Ser. s1xes Gds, the bill
sury the sum of S225,92s II, and the Collector es
Inmates that there Will be received from these
the further sum of Sl0.ON making the whole
amount produced by last years tax bill S235 92S II
this sum of SlO, 900 is, however taken into the Au
year, and is only referred to here to show the pro
dnct OF the present tax bill and like amount will
probably tie collected at the end Of the next fiscal
Upon the present tax bill there will lie defcen-
cy 81 SaO0OO to meet the necessary disbursements
prineipe upon which the present tax bill was
based Il that property. however employ ed. should
to n xng s
taxation upon persons subjected to class tax. in
stead OF raising from them the sum Of S42OOO-
winch was the amount to he raised upon their cap
ital-the sum actually raised from them was lit
upwards OF s5l UOO, and the persons classified have
paid $4,000 more than their proportion Of taxes
according to an Gd roloiem tax upon property.
The cor! mi tee are of opinion that in this city,
where the Value of property, and especially Of real
estate, depands upon the amount and prosperity of
its manufacturing and csnlmerclai interests, the
principle OF an I'D sasorem tax upon all species Of
peIity of these interests must be limited by the
amount of capital invested in them. Without cap
fully and thar must, there fore, be destructive
policy which drives capital from the city, or deters
It from seeking Investments here. These truth.
in our own experience. From the statement made
out from his books By the Assessor Of the city, in
that there was given in to the Assessor. personal
.45 n iss7: $500 ss; in 1858, - 2ss and in
~ this amount, NOT only the blood Of the 5asi
How the business Of the city could be carried on IN
der such condition of things. it is difficult to CON
racy of the Assessor statement, We viii End Il aus
tanned by the report of the Auditor Of the State,
which shows that the assLexate value Of all Per
creased in the year 1859 sss7 ss 90. Nor is the
loss winch has been sustain d by the city. 1t is
I'm possible to estimate the amount of capital which
has been deferred from seeking investment here ;
hQ4 IN PEA h~>~
has been sent abroad, and whom, in the ud8ment
Df some fifteen or twenty men in this city. en-
Inc best means Of forming an opinion. At the low
sst estimate SO QUO Of Virginia capital is en-
on aSs hays ~
mond must be very large nor can We doubt that
il it was invested here il would greatly extend Ind
Enlarge our manufacturing and commercial inter-
We MAJ. prefer to search for some other cause
or TINS Ethdrswsi o. capital from the CITY q for
foubt the limited rate Of interest in Vryinia does
have some influence in producing this result. Bat
t 10 worse than Idle to wander abroad search Of
} cause for this effect, whom one ample to ACCOUNT
it lies patent before us, in the tax non
tax .1ch pr"pey Waa one and one a .s
,ent.; in 1857 and 1868 IL was one pev cent, and N
sss il was four fths Of one per cont, and with the
State tax Amounted % one dollar and twenty cent
IN every hundred dollars. thus reducing tho inter-
st t" four and thrs 0 kfths per cent. We have
erent a. to the PER cent they received. and he
must 10 indifferent indeed who will lend at 5 s
i 81 ;, can =
Believing that s the trne rocyo the c.,to attract
hsss6s the vsius Of real sstsss viii s. .nh.nc ed
md eli our interests will 10 promoted the con
rit 3 sr:.oss tnas the sf,sional omocnt vh.o.
,pipion, further that 81 sller tax UPON money y
Ds inducing return Of this pfOneffv II this 40