The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-02-13

manded for final trial
VIM. Cockson, charged with forgery, was
examined and remanded for final trial.
Cyrus, Il slave, the property of John Talia-
ferro. charged with burglary, was convicted
and sentenced to sale and transportation be-
yond the limits of the United States for the
term of his natural life. The Court fixed his
value at $780, if sold publicly, under 4 know
ledge of the circuns tlnCes of his conviction.
The Court adjourned to meet again this
morning at IL o'clock.
TarntiOn.-In the proceedings of the City
Council, published yesterday, brief abstract
of the report of the Finance Committee was
given, but the importance of the subject de
mands a more extended notice. The Auditor
estimates the receipts for the next fiscal year,
from all sources except taxes at x2l2, ,SS1 .6S:
and he disbursements for the same period at
$55l ,23l 10. Looking to our past experience as
our guide, it cannot be doubted (say the FL
nance Committee) that in addition to the ey-
penditures estimated by the Auditor, it will
be necessary for the Council, if the credit and
faith of the city is to be sustained, to pro
| vide not only for the difference between
| the estimated receipts and. dis bursements IS,
| amounting to $685., ,543 .33; {; but we must pro-
| vide for at least the further sum of 100000,
| to meet unestmated expenditures. Unless
| the Council exercise more rigid economy
| during the next fiscal year than during
| the last, 1--WE deyoutly hope they will the
| amount req uired will be fully double that
| sum. Nevertheless, with the belief that econ
| omy and pr Ioencc will govern the acts of the
municipal legislators, the committee fix the
| amount at 100000. Taking S266, 800 as the
| amount produced by the present tax bill and
es stima.ng that the valuation of real estate,
which is now 500, SIS, ,410, will amount to SOL
ooo, ooo and that the present tax bill will pro.
| duce $4,000 there viii then be deficit of
| SOS 200 to meet the expenses estimated by the
| Auditor, and n deficit of 100000 10 meet the
| actual expenditures OF the city for the next
| year, even if the Council shall practice the
most rigid economy; and to provide for this
sum by taxation will require an increase of
the taxes to fully thirty five per cent.
| There is $4,000 of debt due the lst day of
| July and sl2, 900 due the 1st of January next
| The estimates for the Improvement of James
River are So, ia II for the completion of the
Aims honse S37,237.61, and for the Water
| Works 81 ,94l .93 !; making together Sl19 2g3 rs.
Of this sum are required by the charter to
| provide for the payment of S2l ,0Go, being one
per cent. on the amount of the city debt. The
committee, as stated yesterday, think that in
the present condition of the country a sale OF
the city bonds TO meet the payment of the
balance could only be- made at such a sacrifice
rs would dishonor the city and deeply affect
its credit such sacrifice rs should not be
submitted TO by Il people as able to pay the
amount as are the people of this city. 1t is,
therefore, recommended that $50, 900 of the
sum be raised, when needed by sale of the
bonds or other property, or by a temporary
loan, and that the balance shall be provided
for by increase of the taxes. The commit
tee feel the fullest confidence that the people
of Richmond will meet any demand which
to support the honor and the credit of the city;
and that they would never pardon the offence
of dishonoring them.
To the disturbed state of the country is at
tributable in great measure the necessity for
increased taxation but when prosperity shall
have returned, it is confidently believed that
the inves tments made by the city, which con.
| stitute its debt, will render such a return in
the form of dividends to relieve us from
the burthens of taxation for the payment Of
the interest upon that debt.
We have thus given pretty full sketch o
the financial condition of the city, as embo-
died in the very able report drawn up by Mr.
Grattan. Heavy taxes are grevous to b,
borne, and always extort groans from the peo
| pie I; but since We are in a dilemma from whicl
we can only be extricated by paying our way
| every good citizen will doubtless submit will
the best possible grace. The report is yet I,
be acted on by the Council.