The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1866-06-27
Tb;s 4. of couk respaotif3 of Fed.

rhis d, of oouAs krespectiva of Fed
eral taxAtionkwhich..as we all know, il,
itself serious burden. 1t must and
will seriously cripple the energies Of our
people.
Well now, how can this enormous
llsyyAe axciasa2 q The answer is plain.
Instead of attempting, for the mere sat.
! isfaction of being temporarily out OF
debt, to collect the amount OF the debt
| from the people in single year. Let as
! much of the amount as possible oes g's
tyibuted dlronghtlree OF fire gears 70 come g
we believe that the debt due to the
various city banks for the payment OF
bounty to soldiers may be thus distrib-
utedI We feel confident that the Direc-
tors Of these Banks will not be instrn.
mental in placing upon our people the
burden of paying. the whole debt in a
single year, if there be any possibility OF
[avoiding ouch course. Suppose that
this bank debt be divided into three
yearly payments, interest at per cent
being paid upon the deferred install
nlents. The amount of principal TO be
paid this year will then be 266l667,
and the interest on the remaining two
thirds will be $3,19i.00. The whole
amount to 10 Levied for, this year will
then be 1877 ,442,5i, or about fifty thon.
sand dollars less than will be necessary,
if the other plan be pursued, The tax
for county purposes will then be only
81 so on the hundred dollars instead of
|e.1O, making difference of sixty cents;
reduction which will be gratefully ap-
preeiated by The Taxpayers of the
county. ~ to- 30 Is... =. u &C..
There are various considerations
which, it seems to us, recommend such
q course In the first place, under an act
of the Legislature passed last winter, a
fevaluatioR of the real estate in the
State is to be made tis year and will
serve as basis for next years levy.
That new valuation will probably cor
rect many inequalities found in the old,
and will be a much more just and equita-
'blei basislfor taxation than we now have.
Under these circumstances, is it prudent
or just to pay off onr whole debt by tax
alton based upon the present imperfect
schedale? Will it not be better to post
pope as mneh as we can until the new
valuation be made?j
In addition to this, high rate of tax
alton viii have a. tendency to retard the
improvemeus" of property while, if the
rate of taxation be low, the taxes paid
by the improvements thereby encour-
aged may be sufficient to pay some pOr-
ton of the interest which will accrue
upon the deferred portions of the debt.
Aud even if the debt should all be paid
this year, as the Intelligence advises. the
relief obtained by its payment will
probably prove to be only temporary
Because, the moment the county is out
of debt, some new scheme will be started
involving new obligations, and the peo-
pie will then be told as they are told
now, "Why you paid last year as heavy
tax as this, and should not gTumble
now" So long as the present debt re-
mains, it will prove a. check upon reek-
less aud aStravagant expenditure
These considerations, aud Others which
will suggest themselves to the minds OF
the members of the Board and the pub
lie generally, should, it seems to us, TO-
duce the distribution of the bank debt
through the next three years at least,
and, if possible, through five We know
of bat two indivihaA in the county
who would be benefited by tae payment
Of the entire debt this year, and they
are the officials who receive profit
from the collection and handling Of the
funds