The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-13
The General Assembly of Virginia
THURSDAY, December II, 1872.
SENATE.

The Senate met at IL NJ, Lieutenant-Goy.
ernor MARYE in the chair. No prayer.
TAX ON CHARTERS OF INCORPORATION.
House bill to amend an act entitled an act
to amend the charter and change the name of
the Merchants and Mechanics Savings Bank
of the city Of Richmond, communica' e l
from the House of Delegates to-day, WAS
taken up and read the first time.
Mr.. WYNNE moved to suspend the rules
recurring the reference OF the bill to q COM
mittee in order that it might have its third
reading this day.
The President called Senator WYSNE's at
tention to the G1st section of the tax bill,
which imposes a tax OH all such charters.
Mr.. WYNNE stated that the bill was merely
to change the name of the bank.
The President ruled that the legal effect of
the provisions of the last clause of the 61St
section was to declare that the following bills
were not bills of private character-viZ.,
bills incorporating JOINT stock companies and
bills amending the charters Of such compa-
MES. aud therefore that such bills were not
taxable under said last clause. The CHAIR
further ruled, in answer to inquiry from
senators, that tue legal effect of the entire
section was to subject bills amendatory Of
the charters Of existing joint stock compa-
MES, so rs to increase their capital stock, TO
the payment of the tax imposed by the first
| clause of the GlSt section.
Mr.. GREENE appealed from the decision Of
| the Chair, and delivered al elaborate argu-
ment on the subject.
The question being on the appeal thus
taken by the Senator from Petersburg from
the decision of the CHAIR, Mr.. GREENE
said: ..
Mr.. PREsIDENT,-I am no lawyer, and do
not pretend to be able to construe questions
of law in the presence Of this body; and
have therefore consulted professional
friend, and beg leave to give his opinion as
my views on this question.
The Glst section of the act approved April
8, 1872, entitled Gan act for the support Of
the government and free schools and to pay
the interest on the public debt" reads as
follows:
"Tar on Joint Stock Companies.
"gl. On every bill hereafter proposed In the Gen.
eral Assembly Incorporating any joint stock com
e6artabie before The same shall be considered By
the General Assembly there shaii be paid into the
treasury, for the use Of the Commonwealth, II the
capital stock OF said company amount TO five
diIionai five thousand dollars OF stock, two dollars
the the General Assembly, Which shall be & private
Character us distinguished from acts Of public
character, and not for the Incorporation OF conf
pany, or the amendment of charter land not for a
cemetery nr object purely charitable) before the
same slla be considered by the General Assembly
there shall he paid into the treasury, for the use OF
the Commonwealth, such sums ss shall be decided
by the committee to whom It's referred TO be charge.
able under this act aud the amount then paid shall
be refunded II the act applied for Is not passed"
b Waving for the present all questions touch.
ing the consttuticnality of this law, its wis.,
dom or folly, its expadiency or inexpediency,
Its fatal effect upon the right Of petition.
which Is the birthright not only of the clti-