The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1873-01-14

March 80, 1871. 0,27S, 730.67 Of bonds
were issued under this aforementioned act,
the interest upon which must be met, as
the coupons representing that interest at
and after maturity are legal-tender for
all taxes. debts, dues, and demands due
| the state.
1t is always best to look the facts and
circumstances with which we have to deal
squarely and honestly in the face, so that
we shall neither be deceived ourselves nor
lead others into error. The interest upon
the bonds funded under the act Of March
30th 1871, must be paid, and no mode OF
avoiding it can be devised, even if we de.
sired it. 1t has grown to be a maxim OF
the law Of almost universal affection !:
"Quando aliquid prohibet,w, prolibet,r ct
onne per guod deuaaeter dd ittud"-
whatever is prohibited by law to be done
directly cannot legally be effected by an
indirect and circuitous contrivance.
This interest due and unpaid on theIst
of January instant, amounted to ST $780,
317.14, and there will fall due on the LIST
of July next, $60s. 36l.90, and like
| amount on the 1st of January, 1874. max
ing o total of 81, 597 ,040.94, to be provided
for between the first days of this and the
next year. The interest on the two-thirds
of the balance of the old debt reported by
the second auditor at 10,200, oil .42) due
and unpaid on the LIST of the present month
was s721 ,036.51. The interest on this
portion of the debt, after it has been re-
duced as hereinbefore suggested, will not
exceed the sum of S343, 276.19, which, adj
ded to the amount due the lst instant,
makes the sum of 81 ,064, 312.S0 to be pro-
vided for on or before January LIST, 1874.
Add this latter sum Isl ,064 ,3l2.s0) to
the amount due and to become
due on the funded bonds (s2, 597 $4,000
and the expenses of the state government
1900, OOO), and we have the total sum of
81 ,261 ,353.G4 to be provided for during the
current year. How is this to be accom-
plshed? There was in the state treasury
to the credit of the commonwealth on the
first instant, 81 ,GS3, 6l9.33. The first
auditor estimates that the net receipts from
taxes already levied, after deducting the
amount appropriated to school purposes,
will amount to 81 ISL BEATS; to which
add the above amount in the treasury on
the first instant, and we have the sum
of $1,000 .974.11 available to meet our
liabilities. Deduct this sum from the
total amount "a, 261 ,353.64 of liabilities
above stated. and it leaves a balance of
81 ,l06 1898. If the present tax on state
Indebtedness be continued this amount will
probably be further reduced by the sum of
$780, which deducted from the fore
going amount, leaves a balance of
81 ,046 ,379.53. BY sale of the bonds ofthe
Washington and Ohio. and the Richmond
and Danyille railroad companies, and
the stock in the Richmond, Freder-
icksburg and Potomac railroad COM
panies held by the state, at least 5000, 900
should be realized; which, applied to the
payment Of the above balance, leaves the
sum of SAG. 1908 to be provided for by
taxation or other means.
This brings us to the consideration of the
third proposition--viz.: the assessment of
oil the property in the state in accordance
with the mandates of the constitution. The
constitution prescribes that ''Taxation shall
be equal and uniform, and all property,
both real and personal, shall be taxed in
proportion to'its value" ''No one species
of property from which tax may be col
lected shall be taxed higher than any other
species of property of equal value" "No
| land shall be assessed above or below its
value.' Now, it is well known that these
plain and explicit declarations of the con-
sttution have not been complied with. The
basis of all taxation upon property is its
assessed valuation, and according to our
constitution this valuation should be its real
valuation--nether above or below it. But
how much property in the state is assessed
according to this constitutional standard?
Probably not one-half. In some counties
and corporations the assessments approxi-
mate much more closely to it than in
others.
But there is neither equality nor unifor-
nifty. Lands of equal value are assessed
| in different counties OF different amounts,
varying some times fully fifty per cent,
and instances have occurred where they
were not assessed at all. In some instances
farms divided by county lines have been
assessed on one side of the line at double
the amount they are on the other, and that,
too, when the lowest assessed lands were
of equal or greater value than the highest
and [ have known of sales of farm lands
during the past year at more than three
times their assessed valuation. | am
satisfied that as a general rule the poorer
and cheaper lands are assessed at or near
their value--sometimes above, but oftener
below, while large amount of the more
valuable lands are often assessed at not
more than one-fourth, one-third or one-half
of their value. In the cities of Richmond
and Norfolk the. assessed valuation of real
estate for municipal purposes, and on which
the city taxes are levied, together exceed
the state assessed valuation by more than
SO, SOC, 900, and presume the same rela-
tive discrepancy against the state obtains in
the other cities and towns Of the state.
And the defects of our land assessments
are not more glaring than are those of per-
sonal property. Owing to our defective
system in part, and in part to the want of
thoroughness on the part of officers, mill
lions of personal property escape taxation,
and much of that which is taxed is not as.
sessed at half its value. In Richmond city
alone the assessed valuation by municipal
authority of personal property exceed those
of the state by more than So 100000.
Now, this is wrong, unjust and uncon-
stitutional. Prompt and effective meas
ures should be adopted to secure as nearly
as possible the full, just and equal assess
ment of all the property in the state,
according to the rules prescribed in the
constitution. Our laws providing for the
assessment Of personal property must be
made more stringent and searching, with
severer penalties for their evasion or viola
| ton. Incompetent and negligent officers