Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1874-04-02

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included IN any OF the foregoing classes
are alleged unascertained liabilities in
CURED by the State as guarantor-
These varied evidences OF debt have
different values. The best ct them
usually rate in onr own markets at
about fifty cents on the dollar. Even
To- the most favored OF the numerous
classes of creditors the present arrange
ment is full of disadvantages and diff
culties Holders OF bonds with cou
pons heavily deprecated and incapable
OF beng passed into the hands OF the
tax collector except with expensive
clrculty and with serious inconvenience
ard loss. The tarthef oostfactihg
preventing the use OF sucn~ coupe MS
IN payment ct taxes serve only 60 sho"
how lnadsquate and :nrwlse are,tne SO
cnritles hItherteg deMsed. '1er seven the
most favored class 81 =. efeda.ors, ana
now suoh slns s a'ief ptecaflous
guarantees Tor Interest nfttss expose rs lls
to increasing cornpaalh rafa atslrus. 1as
long as the present ast] astnent STANDS g :
uncorrected # I'm s5ssSs.s -:
Let IT not pc supposed that any
action calcniatt.d to lnither Impair s,h nl1
value ofstax- ilIes coupons IS ih!e'oeu
to be here either sla CRESTED OF scoun te7
nanced ~ tAe sss,slt ira lt VIII. pc ?,
| presently SHOWN 'na' ''"e t"'e.e'.5
" on pa '..' 80 -. ~
dabto, ana. .,sd;to,s shoula he forever
removed Instead Of measures to the
nra;ud;ce ofapv class Of creditors the
! ! fr;rIts ~ al should now be permanently
raaJ;,steo and nlaced mon the best
nlt;na;e lv ;mnroved footing to be
s;r,,, a,to;nod No other ob,ioa,ion
c.r bo cold to he sunerior TO that which
nledges the honor of the State to. pub
liz croJ;tors axcent the cultivation to
nreserve the life of the Commonwealth.
{ Nothing short of the imperious necess-
! ;tv of self preservation, nothing less
than such pressure of creditors as
mioht imperil the government and de
nriye lis Of the means for upholdins
society and order could give counte-
| nance to action calculated to impair
the value of coupons or obstruct their
presentation in PAYMENT of taxes
A far better and wholly different
nolicv claims our support and in order
r. effect it. LET us first clearly compre
hand
,ov ANN prso,rpcr.
~, ;, :. H. ,, az,
Inc assessor Va'oe =, y '"e ,:"' 'n'
personal properly ac'" ,nso sucJe.V W
taxation IN tue o,a'e ~ 'ouH was 'ooo,
o9S,ooI. wine '"e ' .,'., ,.a, ep0' 10 -.
snow tiIat proper! W .,'1 t.' sau 49, ~
Slo'' ooo''uo was eAInap ~; eln o'' ' ,h''s
tlon nnoer Che laws .''ei III ioioe' .. ~
making .'e ass.eSa'e a eSU".. 70 e.e
9tate III l ooo eq"s'l W ~ so:J 49,.
~ appears rom ','e S'','o o'''s'"' S''' os
that the aggregate 'a.oe ~ 'e"' anu
personal property. w'h'h tne territory
Embraced IN the minus OF Virginia ~ was
IN 1861 Sooz zo4' 1919. Inc aSsre-
CRATE ASSESSED valHes % 'aAa''4 pro-,
erty OF every kTho IN , lfSi,,,a II, 1919
was, and 1t now IS oooo' 4oo'z o' anu
no more Great ana alarming as tl,'s
decline IN taxable vaiaes mas oeeh' ine
productions OF the state ana the
acreage OF cultivated ana are ul"'n :
Ished III at least equai Pr 'Portioh' AN
illustration OF our losses III proo''ctio''
ls to be found III the 'ooacco crop
which, gown almost exclusively "i'hln
the present limlts OF Virginia, amounted
in 1850, according TO the census OF
that year, to l25'9o"'9iz pounas' an"
which oy the census 3 OF noe toe e hau IN
that year 1aiiell " oi -. po .::.,
Such losses y every klno OF agflcol
tnral production are ioflle1 snowh' ana
III some measure ace"u"tea io'' III the
fact that OF the p"puia'ion' consul. o,in9
most valuable pfoa"e'hS CLASS oelofe
the war, more .han nal'-hillloh now
produce little II ahythlhg put pare
living Tor themselves III aao',loh To
all these eths vast private "oeoteo-
ness, incurred prior 'tc the general
destruction OF property oy war; an IN
/ debtedness when greatly exceeds the
whole public debt OF the state n" IN
considerable part OF whlch IS a'e out
side the Commonwealth, all OF which
has been and IS beng pressed Tor pay
ment, dlstresses our people ana strains
their utmost resources ana entrs's $:
The present revenues OF the State
are large when compared with her
resources. ne otate revenue 1of the
Loot;op aoo,,nted to S2.2l7.5384e-
besides the cost OF c"'lection' was
drawn from the people IN the shape OF