The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-12-06
FRIDAY EvE'G. DEC. G. 1872
REPEAL 1T


The Conservative majority in the Legisla-
lure gave no more striking illustration Of
their Bombonism and hostility to the real
material interests of the State, than in the
enactment of the following clause of the
Glst section of the tax-bill, to be found
on page 3s5 of the Acts of the last scs-
sion, viz:
"on every bill hereafter proposed in the
General Assembly incorporating any joint
stock company (unless 1t be for cemetery,
Shall i be- c pid BY the General Assembly,
there shall be paid into the Treasury Tor the
u.e Of the commonwealth. II the capital stock
and for every additional 5000 of stock, two
dollars and nifty cents"
No provision whatever is made to refund
this enormous tax for considering any char
ter Of public nature, if on consideration
the General Assembly should reject it.
For instance, we have seen bill to incor.
porate narrow-gauge railway from this
city to the Clinch river coal mines, the
tax upon which, to be paid before it can
be considered, amounts to s5,647.50, and
if the charter is refused this sum would be
forfeited to the State!
Now, in the name OF common sense.
what does IN, dominant party in this Legis-
lature mean by such an odious and unheard
of attack, under the cover of q pretended
revenue measure, upon all Northern and
European capitalists who might be induced
to come here, and under the protection of
charter engage in the work of developing
our resources? We say Northern and
European capitalists, because unfortunately
our own people are too poor to engage in
these enterprises, and if prosecuted at all
the money must come from beyond the
limits of the State, and the dominant ma
jority in the Legislature knew it when they
passed this law.
Has the State all the public improve
ments it wants or needs? Are no more
railroads desirable ? Is it better for us
that our mines Of coal, iron, copper, gyp-
sum, lead aud zinc remain unopened ? Our
water-power unused? immigration driven
away from our borders because SO much
Of eur land is inaccessible? If 80 then
this law is wise and should stand ,lnre-
pealed.
But if the State needs capital and more
population-if we would bring into the
markets of the world the untold wealth
at now lies buried in our hills and noun
t,ins, and build up manufactures and q
Commerce worth the name in our State, we
must facilitate and invite the introduction Ct
capital by all the means in our power.
After the investments are made, and new
wealth is thus created, general tax assess.
ments reach it, aud it comes in aid of our
impoverished people to pay their debts.
We doubt if IN the history of the world
another instance can be found where an
enormous tax was imposed upon the efforts
Of enterprsing men to persuade capitalists
to invest in public works.
The dominant party in the Legislature
have refused to reduce their own pay by
way Of retrenchment; they have refused to
appropriate dollar to aid in disseminating
abroad a knowledge of this State they
have matured no measure for the relief of
the people, and have by this law closed the
doors Of the Capitol against the intrusion
Of oil enterprising men who will not pay
10 advance, an enormous sum for the privi-
lege of asking them to apply their August
Collective Wisdom TO the consideration OF
charter for the most important public
works. And yet they cry out that the
State must be saved from the Radicals!
God save the State from such q spirit as
underlies the law we are considering.
A Republican, we are glad to see, has
introduced bill III the Senate to repeal
this unwisc and bigoted specimen OF
Bourbon legislation, and we hope and
expect to see the members of that party
unit in the effort to wipe it from the
statute-book, and we trust for the IN.
terests of the people Of the State, that
enough liberal minded Conservatives will
cooperate with them to open the door
again to men and money, come from
where they may, seeking to aid in our
remuneration