The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-01-14

ss Sa.AA 80 moato sPLopaoly Tedc0 SfOO ON
ooo, While this sum Is far below N.
amount which an assessment according n
the constitutional standard would mai.
it. let us take this as the basis Of our calc.,,
tions. At the present rate of TAXATION 30
100000 would be realized from this ,ou N.Y.
alone, from which deduct one.fifth for scbo,i
purposes, and balance Of $1,000 600 "a I I,n
to be approp rlated to the PURPOSES Of nati H..
ti,e,interest and defraying tYeeypen.es n ~:
1oHernrnent. To this sum should be- ,ddod
the taxes from incomes, licenses. and OH.
sources. Under the present tax.bilI tha
Auditor estimated that the receipts from tbs'a
sources will reach the following amounts ''
Iicsnst5 ?103o .
Liquor licenses. .'.............,......... BIZ {:
Other sourceS.........-..... l,iIa o.
Iotal. ..........................t 4s,ass .
Now, this sum total ought to be larys,.
increased, and can be, with proper ycgsa.
ton. The commissioners appointed 10 70.
wise our Oyster.laws estimate that Il the Nh,
which they have prepared and submit,ea
With their report becomes law the STATE
will derive net revenue from this so,rca
alone of 100000. The Indebtedness Of rail.
roads, no matter where or by whom owned
is now taxed, and If the principle be correct
The stocks as we'll as the bonds issued BIS
them? From this source the revenue might
be increased to S150,000. The Constitution
authorizes the taxation of incomes over
$780, but our law increases the exemption
to 81 900, and the tax, In name, Is only col.
lected from the incomes of individuals. Why
should it be thus limited? Why should il
not be applied to all persons, real and LEGAL,
Why are corporations, which are fictitious
persons or "soulless individuals" exempt
from this tax7 Is this a proper and ju.t
exemption Of the Constitution, which de-
cares that "all taxation shall be equal and
uniform "? II incomes are taxed at all, then
all incomes should be taxed, and at tie
same rate. The gross receipts or income Of
insurance. telegraph, express, steamship, and
some other companies, are already taxed. but
at different rates. itaprears.t to re that th:
tax should be of uniform rate and that the
gross receipts or income Of all corporations
should be taxed equally. The rate of taxa.
ton upon the income Of individuals Il now
fixed by law at one per centum, and if this be
the rate established TO be levied upon all In.
comes the amount of revenue to be- derived
from this source would amount to over
100000. The total estimated receipts from
licenses Gncluding liquor licenses under our
present law rs S37s,475.15. This sum may
be very justly and properly increased &
$500, 900 by increasing the liquor licenses,
aud by suitable tax upon all foreign corpo-
rution. doing business in this State whose
capital is invested elsewhere.
AID IL, his .npr,n1 nf
recommends a stamp-,aX such as was in force
in this State for some years, beginning with
the year 1913. and from which he estimates
q revenue might be derived to the amount Of
about S100,0Q0. He says that this lax
"woud scarcely be felt by the masses of the
people," As a temporary cxpedient TO re-
lieye US from present embarrassment and our
real and personal property from increased
turthen am inclined to indorse this recon-.
mendation Of the chief financial officer of tie
Government. 1t is also safe to estimate the
revenue to be derived from misccllaneou,
sources, interest on deposits, seals, back
taxes, etc., etc. at Sl50, 600, making Il total
of $500 900 which may be derived from other
sources of taxation than property. Ourry.
enuc might be very largely increased bya
specific tax upon every gallon of wine, ar
dent spirits, ind malt liquors sold in the
State, whether imported or Of domestic
manufacture. Certainly q sufficient sun
could be realized to make up any Casual
deficit in the amount OF rercnue hereinafter
enumerated.
1t will be seen, therefore, that II the sug.
gestions herein made are adopted the total
annual revenue of the State will not be lrSs
than 81 100000. Deduct from this sum Que
fifth OF the tax upon property for srhopl
purposes. and there is lett the sum ri -
100 900 available for tic payment OF the H.
terest on the public debt and the expenses OF
tue Governmental sum ample for these pur.
poses, even if the public debt be not de-
creased one dollar. And this will be &C.
complished without any increase whatever
in the rate of taxation. In iaet II tic Con.
stitution he amended as suggested ths
rate OF taxation may be hereafter ma'
terially decreased. For the present year, A.
has been already stated. Our liability VIII
amount to S4iG,3379.53 after making all de-
auctions Of funds on hand the first OF Tie
year, balance Of taxes already levied, AMOUNT
realized from sale Of assets already nel'
toned, and tax to be deducted from interest
paid. To meet this amount we shall have
such of the taxes Of 1878 Is shall be collected
prior to January I, 1874. l estimate this
amount at Sl,200,000, or three-Ecvtn!h5 oil
tue taxes to be levied; from which deduEt
100000 for school purposes. ami It leave:
81 900 ,CQ0--an amount nnn0ia"-'A'-' ,.,o,.
80. .t.- --.--.>.-.."', III eAt'''
u, tne sum required.
Gentlemen of the Senate, the foregoing are
my views as to the best mode ri raising
MONEY to pay the interest on the Urp''
debt and. defr,ly tn" eTrcI.c5 OF the sta'''
an, TIE n,crruse Of uya!i)n necessary. as 'HY
opinion expressed, has tecn Deliberately
formed md every calculation and e-tilnMe
carefully made, and II adopted by the Gen
elul Assembly every result stated WV
fully realiZedi Tll:se rgsuits comprise Tic
.::.lease of the revenues of the State by nc"
subjects OF taxation and the equabe ass:s;'
ment of all property IN the Commemorate
to $2,S00,000; the reduction OF the allnra'
expenses OF the State Government to S'VVt
600; the reduction Of the public o'e' r'
$26, 10000 and consei;Ient reduction OF atl-
nual interest thereon 10 Si,5G0,0So. y! II
the assets of the State herein6efore enulne'
rated be applied to the reduction Of foa'
portion OF the public debt assumed by Ut !"
prescribed by the act of Assembly OF hiicn
30, 1871, then the reduction OF the pFircii"!!
Of the debt to the sum of S23 ,6J9, jsl. ". aug
the annual interest therton TO sl,it93'2.h'
&C. WALyEH.
PETERSBURG AND WASHINGTON EAiIR0"'
Mr.. GREENE offered the following lreaIh'
bic and resolution:
Whereas Il Is the Judgment OF the Fna'
that Senate bill No, 81, entitled : bll. -
amend the charter of the Petersburg tau,
road Company is not subject To be l'Ae9
under the 61st section of the act approve
April 5, 1872, entitled San act imposing
taxes for the support OF the Government
&C.; therefore
"Resofred, That the Committee ON koau.
and Internal NAVIGATION he, and they Vle