The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-04-08
WEDNESDAY,. ......ApR1L 8, 1874.
LOCAL MATTERS.
THE PROPOSED sTAMP-TAx.
THE SUB5ECT CONSIDERED BY THE
CHAMBER OF COMMERCE.
orR REPRESENTATIVES, REQUESTED TO
VOTE AGAINST THE BTLLAS 0PPRES-. #
---a-a. SIYE TO THIS CITY.

An adjourned meeting Of the Board of
Directors Of the Chamber OF Commerce was
held yesterday afternoon. Present: Thomas
w. McCance, Esq, president, and Messrs.
II. Il. Blankenship, +. o. Noting. William
&. Isaacs, s. Horace Hawes, John G. SPOTS,
John Il. Childrey, Joseph 4. Anderson,
Isaac Davenport, DR., and Thomas Potts.
Mr. BlankenShp, from the special COM
mittee appointed to consider the subject of
the stsmp.tax and the bill now before the
General Assembly, reported that, in the
Judgment of the committee, the law Will not
serve the purposes intended, and It's enforce.
ment will be at heavy cost and cause many
prosecutions and punishment heretofore un-
known in this State. ..- .~~.:
The proposed stamp act will be borne
almost entirely by the mercantileand manu-
Featuring classes, and the revenue obtained
considerably less than the smallest sum yet
suggested by any friend Of the bill. After
the most careful estimates which the limited
| time OF the committee would allow, they be-
| licve that the total revenue to be derived
| from the sale Of stamps will not exceed
sl46. .655 in one year, and in making up the
| figures the committee believe they are eX-
| trcmc, and contain every cent that can be
collected under the law. .s .
| The committee further say that the CYL
sionS of the law, commissions, etc., etc., VIII
equal fifteen per cent. Of the whole, or s2l :
| a9S. leaving a net revenue to the State OF
Slo4.65T With these facts, the committee
recommend that our representatives IN the
| Legislature be requested to vote against the
proposed bill, and that they vote an addl'
tonal tax 81 IS Gents ID tne .fot, q 81
levied OH all real and personal property, in.
.I, hr yrb q
sufficient amount will be promptly obtained
| to meet all the States obligations. and save
the material life rs we'll as honor Of the Com.
| monwealth.
| Mr. ISaacs said that he, and he supposed
the rest of the Board, had been greatly as
| toni>hed at the result OF Mr.. Bankenship'S
investigation. He would be glad, however,
il the protest could be put in stronger Ian.
| guage.
Mr.. McCance said he was now satisfied
| that the stamp-taX would fail to meet the
| objects proposed. He believed that the
only remedy for the evils existing was to
| levy larger tax upon real and personal
property; therefore be cordially approved
OF Mr.. BlankenShip'Sr .....
General Anderson, OF the House Of Dele.
| gates, said he had never been much III favor
| OF this stamp-taX. He had been Of the
| opinion all along that the only remedy was
in raising the property, income, and license
| taxes.
Mr.. Davenport called attention to the fact
| that merchants are now paying one-tourth
Of the taxes.
Mr.. BlankenShip added that Richmond
city is paying little over onc-niuth of ali
the taxes Of the State.
The report was adopted.
The report and accompanying tables were
ordered to be printed and laid upon the
tables of the members Of the General Assem-
bly,. Adjourned.