New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-12-25
NEWS FROM RICHMOND.
Prepoasl 70 be Made BY = Member or the
Virginia Legislature in Relation TO the
Colored PeepIc-The Financial System
Of the Ssuth-Work Of the Rebel Com
mistee on Rinances-The Taxes, nad
How they arc % be Raised.

WASHINGTON. Dec. 70. 1868.
A member of the Virginia Legislature II
shortly introduce before that body proposition whci
cannot fail to create sensation all the South III
proposes that the State Of Virginia shall pass Law
granting the right Of property to men Of color held In
state Of bondage. and making that property reversible
10 his children Who In consequence Of that law. shal
not be hereafter liable to be sold or separated violently
from their parents. This proposition is understand
accompanied by very long string Of considerations
tending 10 show that the negro slave is and will be for
ever unfit for freedom until he is instructed in the
knowledge of the rights and duties belonging 10 free
men, and resting upon two sentiments-the love Of
family and Of property-whio, in all civilized conDu
mites it is declared. have preceded emancipation.
Tbs Rebel Committee on Finances is now preparing
series Of propositions for the complete oystlIoW apJ
reconstruction Of the financial system Of the South.
These propositions are. understand. to be divided
under three heads esch having distinct and separate
object.
The first proposition is essentially radical and de-
structivc. IT cancels by single stroke Of the pen
s70 900 Of the Confederate currency oblterates the
past, and clears the Way for new policy. In other
terms the Committee proposes TO convert the present
debt into bonds bearing interest at pei cent, payable
in Legal tender notes. and TO force their acceptance by
refusing TO take the actual currency by this means
che s1Oo COO 600 now due viii he driven from circulation
and the Confcdcfutc Government win rcpudiate the
present debt and be as ready 10 contract new one
as it WIS three years ego when the war began,
This subject being disposed Of. the Committee pro-
poses 70 create another loan OF 700 millions Of doar
represented by legaltcndcr currency which j. "
take the place Of The currency now in circulation.
but In order TO avoid the depreciation Of this new
Issue and for the better preservation Of public credit
the Committee proposes the establishment Of sinking
fund be created b! special tax which shall be ap
piled yearly 10 the redemption OF certain quantity Of
the aforesaid issue.
The taxes will be II two kinds: FAX upon real
another upon pcrsonsl property. The tax upon real
property will he Of per cent tie other will be gradn
ad according the utility o; the articles taxed Ar
,iccs Of luxury such silver plate carriages horses
Ac will be taxed higher than agricultural and manu-
featuring Implements.
The Committee proposes that everybody without er
cepton shall be taxed. Those who unable TO pay
their tar In money viii be allowed opey 1t in pro
dnce.
In this project the Government assumes the night
Of taking hall OF the crop Of she Confederate farmer
against which he viii give a certificate OF indebtedness
pay able every siI months IN legalteHder currency
ihs Treasury Department IN Richmond.