The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-02-17

Far either ether ss.as, objects.
A. The Auditors statement IL an es,mate .of
ment for the next fiscal year. The rece,pts from
al sources except taxes which may be assessed by
M and the disba, . are estimated It
$685. 259 81. his estimate does not include any
Council An appropriations for new nnde rial ins.,
OF Ole Ter objects and purposes which cannot be fore
es'ima,e. In 1855 the CnamSerlain est mated the
dsbuIsements Tor 1867 at S427. s55 Is, and al
though there was floating debt Of $50 600 to be
PAID DUNG the year, and the Council commenced
the year with resolution recomme ndns the strict
est economy, which the COMMITTEE of Finance, in
TO- ct the disburseUen,s for the year amounted to
4Ss7a S. ,exceeding the estimate s3s 432 IL. in
, s1 Tor the fiscal year of 1857 s sos
is s. In this year very large amount of debt fell
reason for sssSnoiny. and yet the disbursements
Ssis Ssso S. n the he sRr!ss Of 1855 tie Cham
was $47O5l564 tine disbursements i.r the same
pss,,od were $40 sos2,: The Auditors estimate
81 zen for va: the dis
q. before stated. sioi 2seis Nor do these fsure:
xe n t ia aS, =, mt Of the excess: The estimate
e. ns,d but sisS9io i~eavins yet to be paid
TaAing cur past experience for our guide we
may he assured that the amount for which the
ls about 800 CO. The estimate Of the Auditor
Guides debt Ct $50 due the LIST Of January last:
due the LIST Of July next, and also debt of $50 COS
borrowed in January, which must he paid BY the
includes :" s for ahs
enlargement of tho Water Works. The commit
at sa 2. Of SPa ns the Gauns Should :.h"r
that the remainder of the amount necessar, 30 be
durns the ee asea y
s,derabie amount tor the enlargement Of the Poor
House, lrs building Offices and shop for the Wa
and possibly other buildings. which must be done
by a sale Of bonds, and i may have very inlu1!-
thrown into the market; and especially if it 10
seen that the Council hestates to impose the
necessary to meet promptly its enaas emen,s
Taking three hundred thousand dollars as the
amount to be raised. if the Central and Darville
| Railroad Companies shall make the same dividenas
during the next year that they have made during
| the last. there will be derived from these sonrces
the sum OF S2S sN-.eavlnx the sum Of Sz6i 100
to he RAISED by assessed taxes Under the tax bill
sa5s The sum of s2ss,s$s and the GoIlse,or es-
| the further, sam of, $1,000 making the whele
amount produced by last ears tax bin s235 92s Il
ditor's estimate of receipts during ths next fiscal
year, and is only referred to here to show the pro.
year.
cy Of S50.0OO to meet the necessary disbursements
| OF the city government But further: The avowed
Hao psi
Dc equally taxed This principle we intended and
aspted :" carry out but in fixing the rates Of
stead OF raising from them the sum OF $40 OOo-
ital-the gum actually raised from them was tt' Q
upwards Of S5l wv, and the persons elias si6ed have
paid $1,000 more than their proportion Of taxes,
| The conmi tee arc Of opinion thai in this city.
where the value OF property and especially OF rea!
estate, depends upon the amount and prosperit, OF
It's manufacturing and commercial interests. the
pIlncipe OF an al raorsnl tax uson all species 81
| perity Of Theses interests must be limited by the
| amount OF capital invested in them: Without cap
fully and that must, there fore he q destructive
policy which drives capital from the city. deters
are abundsnty verified ana unhappily exemplified
IN our own experience From the statement made
to Of
that there was given IN to the Assessor. personal
Pong ssss: and !" s sss'; Il 'sss ss Il
aT Sr
ny this amount, mot only the life blood Of the bust
ness OF the city, but also the subject of taxation
How the bushes. Of the city could b carried on nm
celve and five were disposed to sstioa the aocu
racy ofthe Assessor statement. we will find i
tanned by the report Of the Auditor of tine State
sonal property not exempt from taxation. incudins
creased IN the 1850 7 ~ co. 'i Nor WIS IS tn,
actual reduction of this Properly the extent of th
u
impossible to estimate the amount of capital which
has been deferred from seeking investment heIe
has been sent abroad. and whe n, in the judi men
OF some hitaen or twenty men IN thus city. EN-
the best means of forming an opinion. At the low
est estimate Sl0.000,0O0 of Vlrs mia capital is EN-
to
mond must be very large; nor can We doubt thu
+ was invested heIe It wonid srsatly extend an
ests
the preferences If investments abroad; and NJ
doubt the limited rate Of interest q Virginia doe
il !: worss than Idle to wander asroad in search Q
a cause for this effect. when one ample to accoun
such property ny the city and the State In 1855 tn
city tax on such property was one and one nth pc
1859 i was four fths Of one psr cent, and with tn
State tax amounted g one dollar and twenty cent
S snS ssn
4 never understood that money lenders were ind!t
% as no ne @sS ssd sne
whom, BY placing it elsewhere; he can a. easil
and safely obtain seven or eight per cent. on hi
Believing it is the srne policy Of the city to astrsc
capital to the city by all ie Ultimate and tina
II o sns 6.
m.ttee propose that the additional amount whic
sa:s %
opinion. fuFther, that = sH aller tax upon none
daoaas a.: %0ss S
whilst such return will srestly promote our bust
c 10 me
In CONSIDERING this question il Should not be for
gotten that large portion Of the debt Of the city
necss.ar,, has BEEN Contracted ior sSbscription
to works q internal improvement; subscription
% x.s 81
the v.i.s Of this property: Thsss slbscri ssios
xsrs 70 The s.cc e the J:@s, River re kS..