Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1860-02-18
Leaving ia the treasury on the LIST day Of the present
t24247 Z
into the treasury, there were de-

For Principal OF the DEBT OF the Cly ftEFiU w
interest Debt OF the City.......... 1870 II
For Gas Works commandments. 1O6ZZ2 p
FOR Water Works. ................ 8i,uC -
For Streets, including sidewalks ~ sol q
For oaicer. Of the city 2i9H .
For Night Watch. NEUTRALITY-SUSPICIOUS.. 2IO-U %
For Fire Department. ............-... lI.ls9 %
For Poor Of The City ................. g6gT %
FOR schools So, 10
For HANDS, Carts, &c.................... !,5'3 20
For Contingent Funds. .................. 1926 0}
permanent obi ecis ............ 1882 -
- a;Oi,295 IS
The is estimate receipts
disbursements Of the city for the fiscal
receipts from all sources except whcl be sd
by the Council for the ye, are estimated at s2292 and the
include endiures for objects not now authorized by
the Council All appropriations Tor undertakings, JF OBJ
ects purposes which cannot be ore,n must be added % the
amount OF the AUDITORS 'snaie In lsd the Chamberlain est
the disbursements for ls az s4Z G and although
and Council commenced the with resolution
mending economy, which the Committee Finance
in their report March, lsJ strictly adhered yet the
disbursements the year amounted to eNcee: The
estimate ia6327. In February ls5', tue Oh mbeus est
mate the fiscal year Of ,j1-s 500
rpr5vid for and there was ever, reason for economy
was wa, %, H. t,rsc,ens vysr ass S-n,5 In he r.,, 4
I,5 ChambeTlains estimate Of the disbursements IN ISIS?
wa, 4O 5i5G the disbursements period s,yu
~, % The Auditors est mate disbursements s. vas
fGG $685. Tor eleven months OF this period
before stated 1901 s6 H. Nor do these figures give the u
amount The est mate The debt be paid
during the year. principal ana interest az s-OIOO whilst there
O,9,89
past experience IOr our GUIDE he
that for which the Council must provide during
fiscal year about a. 1000 The estimate Of the Auditor
ed for by the holders debt Of $4,000 due the t Of July next
and also $4,000 borrowed in January, which
includes the praon Of $4,000 for the enlargement
water WORKS The committee Of opinion that CJun ii
lnsl ne TsIa yd h e 7, IN 70 o a Is .
the year considerable for the enlarge
Poor House building Offices and shop for the Water Works
and some of Tie onicers Of the city and possibly other bull
be hy bOuas, and very
injurious effect upon their sale II larger quantity thrown
he marset and especially II il that the Couuc. htat.
10 Impose necessary promptly Is geneuis
Taxing three hundred thousand dollars 80 he
raised the Central and Dan'is Railroad Companies shall make
dividends dung the next year. that they have
he last there Will be derived fom these sources,
taxes Under the bill Of the lat there las paid
TO Treasury fz2 the Collector suat,s
that there will be received rom these taxes the further sum Of
100000 making the whole amount produced by lat years
Auditors receipts during the fiscal year and
referred here shos the product Of the present b
and Ike amount will PROBABLY be uncoected at the end Of Tie
Sn the present tax bill there will be deficiency Of f;ooo
further The ayowed principle upon which the prese.t t
based that property however employed should be equally
fixing the rates Of taxation ul ecte class
AK instead Of rahE rom tA he sun OF fis'l-"hch vas
ed from a little upwards u So 200 persons chs.
dsI have paid ~ 900 more than her proportion Of Accord
.ng e dd ritorem tax upon property
The committee Of opinion that this city, where the
property and especially Of real estate depends upon
and prosperity Il l. manufacturing com.rr interests the
principle al GdrGl0r TAX upon all species property
not ueous The amount and prosperity Of these Interests si
be limited by the smount Of capital invested In thea
capital 40 such busn s. can be carried on successfully and t
mu therefore, DE iesttu i've pohcy Nhch drives capital on
the city, deters Tol seesng nE e-ai- here These
abdnda ny verified and unhappy eXempIdrd
percnce Prom the statement made Gu. from his books by the
OF the city obedeuceto resolution the Counrft
appears that there given IN to the personal property
money bonds AID debts IN 800 f"i+5 IN ls1 S53J3O
lSjs x3G6 and Ia Is . - IS $40, thus sho sius
lion four Of nearly two thirds ii9syy reducing
by this amount only the business Of the nv
hut also the subject Of HA9n How the business OF the city
And disposed question accuracy u
Assessors statement viii ind by the report Of
Of The State which ho that the aggregate value
saiyenf bonds &C. In the ei Wa decreased IN ti
the loss which has been sustAaedb BY the city upo-
be TO estimate the amour: Of capital which has been deteT
here has been abroad hen the ld
twenty this city employed Ia
iereut Dran,I,s having best ne.t Of forming
opinion, the lowcs estimate SOUJlOJJ Of Ngiaa capt
employed cut o the state eau have doubt that the
u that capit which lost 70 richmond very large nor
doubt that IL was invested here 10 worl greatly
ind enlarge our l@heiael.ns and ooAmerca Interests
We prefer 20 ssaroh Tor cer for this
ocAp4l IRON the city for the preference Of Investments
abroad ana no doubt the limited rate OF Interest VI gala
have some influence Ia producing this result But than
Idle abroad In search for this effect when one
ample to account Tor Hes patent before rs IN The tax imposed
upon such property by the and the state In 1850
such property was one and NTH oen IN 1851 ,
% wa per cent In 1859 ouras ofons Der cent
and with the stat amounted dollar tweAiy cent,
three hf cent We have understood that money
we're in ere- as to he cent they received and he
be Indifferent indeed who wnd at 30 wlrn by plac g ee
where he easily and safely obtain eight per
Believing policy Of the city attract capital to
the city By all legitimate mean and that thereby the value ofea
will be enhanced and all Interests will be- promoted the
committee pose that the additional Is necesa.
taxation shall be raised by on real
estate And be ns pnion further tina. smaller tax upon
money and credits will probably produce more revenue by In
ducng OF ibis property to this city wlit
viii greatly promote our bune Interests propose reduce
these species OF property half per cent
In eon.iderng this should forgotten that
large portion Of the debt Of the city pay the principal aud In
which the tax necessary has
scpon, works Of internal Improvement subscriptions
by the votes oil h Owners OF real estate aonfand Tor works which
have greatly enhanced the value OF this properly These sunsc
the stock Of the James silver ana K4nawhl Clmpa
1850 600 Virginia and Tennessee Railroad Company 400
Ou the Virginia Central Railroad Comp any $4,000
amounting together to S2Z6O Although these subscriptions
had but small returns Ia the shape dividends
civ and given present value to her real esate Of ten @ the
the subscription IS therefore, just the real
by owners for their especial benefit and the benefits Of which
have as yet only been rsapcG by them.
II further considerations required Induce put his
i rd on,re dive tays,op in por nv he s. ny 80 u
chants and men, The tax under the state
law extensive as under tn Ordinance the city We
eude merchants and traders who buy as well as those who s
and include Manufacturers And thus capital employ
ed pursuits which assed by Is much greater
hat employed by taxed by license under the state
Tie Aud report shows that the personal property
money bonds &e not emp Dyed In business for which license
requr is 81 sii3l Tie Assessors re,o shows that
property employed In business tax Is 81 isO
Jl6 showing difference Of Sl3Gi5. Deduetng this
the OF state and city bonds taxed by the state and
aud She remainder Is the capital
poyed in the business for gic class tax paid the city, bat
not required by the State We may
fore reasonably conclude that there Is employed in The ~
In the pursuits for which license required by the state tn.
utmost than 81 100000 The rea estate In the city val
by the assessors last summer at Sz0OO-ave times
much above capital And yet the State drew from this
estate, in l9 taxes to the amount Of *2s'55 and from the
100000 80 I69 g. thus compelling the merchants and others
IN city owning $oO 900 to $4,000 than the
NJ r. estate In the city owning $50 OOO more than five
dollars And 1t not reasonable and just that in
alton should possible, relieve those who OPP
pvey burdened by the taxation Of The state?
consider small the reduction which will be upon
tax on real estate by making the all species property
equal must conclude that II mest unHe pei cy pursue
system taxation which will preclude the return Of capital the
iy paltry cond ration The real estate ofthe city
have said, valued At the Visible personal property
assessed about lO0OOoO and credits at 1900 OF
raise $50 upon equal taxation upon property
real would 1000 and personal property and
cdts would pay 5000 is this small OF J0O1 Of sufficient
Importance the OF tDoVUo OF zeal induce
policy which has already produce such hcy
effects aud which, continued must be still injurious
the business nj the city.
In conclusion erepeat that the value Of property in the
city direct proportion TO the and prosperity
the blsne city. Increase and prosper business and
you enhance value Of real estate But
ample capital positive necessity the place whck neither
economy labor sagacy skill all together supply
Let US not them away capital deter from coming BY
our LEGISLATION but rather let attract IT, encourage
It and thus quicken Into existence branches of
ness give vitality, expansion ADD property all
Peb OH 1896. PEACnY r GRATTAN, Chm
An oApAscR CITY GOVERN
- Re il oc1inel By De Council or The Cfy of Richmond That
The shall be levied and collected for each fiscal year uon he
and embraced In the Ordnance entitled IAN Or
dnance concerning the powers and duties Of the Of City
Taxes" the taxes folio ing, viz:
not exempt from taxation dollar every
hundred dollars thereof and herein shah
from TAXATION, Of all Incorporated joint
companies savings institutions and insurance companies
IN ali he neson al propey excpt slaves cents IN every
hundred there all moneys and credits requed
said Ordinance TO be listed and not exempt from taxation ~
all the capital invested employed
which specifically taxed and all the personal pro-
and