The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-12-18
THE FINANCIAL PROBLEM
VIEWS OF TREAsURER HUNTER
!. AND AUDITOR rAYnOR. e
PLAN FOR RELEASING PERSONAL
PROPERTY FROM DIRECT
TAXATION.

+ PROPERTY FROM DIRECT
I TAXATION.
LIQUOR, INCOME, AND STAMP.
| TAXES DISCUSSED.
THE PRESENT LAWS. AS REVISED By MR..
.'s''.'' = TAYLOR. '..e. +,:ss' ~
BY resolution of the House Of Delegates
agreed to April "a, 1874, the Treasurer and
Auditor of Public Accounts of the State
| were directed to frame q tax-biil and submit
Tito that body-a the present sessions Two dis
tiDct tpropositions were yesterday. presented
| to the Eouse-ene drawn by Mr.. Hunter,
the Treasurer; the other by Mr.. Taylor, the
Auditor. In communicating the bill, which
embodies his MIR. Hunter's) views, Messrs.
| Hunter; and Taylor say: ''In report OF
certain commissioners appointed by the State
| of New York, at the head OF whom was Mr..
David A.. Wells, it Wagurged With great abili-
| ty that it was just and good policy to exempt
| personal property. almost entirely from TAX
alton, and in lieu of that to impose 9 tax
equal in rate to that upon realty upon thirty
per cent. Of the assessed value OF realty in
the towns, which was said to be about equal
| in amount to the rent in the cities and about
equal 10 value to the personal property ex.
empted from taxation in the cities. Such q
tax, it was said, would yield more money
than was derived from all the personal pro-
perty, and fall for the most part on the same
person, if payable by the renter or occupier
Of the premises" ts
HOW TO REACH CAPITAL AND OTHER PERSONALITY.
+" Unhappily. however, there is provi-
sion in our Constitution which requires US
to tax personal capital to certain extent.
This we propose to do, but In mode which
makes the owner pay an equivalent without
working any special injury to the business
of the country. We propose to remove the
tax upon pital used, invested, or employed
| in any trade or business, and also upon the
articles included in schedule d, upon
| which the tax is mainly paid by the
| farmer or landowner, who, in this
country, are generally the same person. For
| these taxes we propose to substitute one of
one-half per cent. on % per cent. of the as.
sessed value of all realty in the counties, and
on 80 per cent. of the assessed value OF realty
in the cities. The tax to be paid by the occu-
pier Of the premises, whether tenant or
owner, unless, indeed the tenant fails to
pay, in which case the tax must be paid by
the owner, with right of recourse to the
tenant if he should choose to avail himself of
that right. BY table carefully made out
from the returns Of 1873 it is found that the
taxes actually paid on the omitted articles
are not more than S21 900 or S3l, 900 less than
those which it is proposed to substitute"
TAX ON LIQUORS,
"The bill of 1873, as it now stands, with
this change would yield a little more than
was received from that bill. In order to
make the revenue ample We propose the fol-
lowing additions: We wish to strike out all
in that bill in regard to the distillation and
rectifcation of liquors, and to substitute the
section herewith transmitted, which pro-
poses a tax Of thirty cents on Whiskey, or
other ardent spirits, wine, or any mixture
of them. This section ought to give a gross
revenue of SSG0,O00 or of $780, 900 by tax
which will be as readily paid as any other
that could be levied. 1t appears from the
report of the Controller that in the year end
ing June 80. 1873, there were distilled from
materials other than fruit in the Uuited
States 6S,236567 gallons. (See page 4 Re-
port of Commissioner of Internal Revenue.)
The population of Virginia, according to
the last census, was about one-thirtieth Of
the whole population of the United States.
Supposing that population to be average
consumers of Whiskey, then that oDe.thir-
tieth would consume about2, $50, 600 gallons
of Wbiskey, which at q tax Of thirty cents
per gallon would yield about 100000 gross
revenue. The same tax upon other ardent
spirits and wine, and ten centsa gallon upon
malt liquors and cider, would yield probably
from S1OO, 900 to 100000 more. The entire
yield of gross revenue from that tax would
amount to sum between 100000 and
100000 of gross revenue"
sTAMP-TAx ON CONTRACTS.
"We also suggest as a substitute for the
income-taX stamp-taX upon contracts, 6y
which the United States, from 1866 to 1872
inclusive. derived an average Of between
SIG, 900, 900 and S16,0O0,000. If Virginia
adopted a like law she would probably re-
ceiye S50OO 900 if her population were ave-
rage consumers of the articles proposed to
be stamped. This. would enable her to re-
peal her income.tax, which, although as just
as any other law. is eminently unpopular.
Should she adopt this tax by stamps upon
contracts we recommend the repeal of the
incone-tax, which has only yielded about
s33. .14O. It is hardly probable that her peo-
nile are ayefage consumers Of the articles to-
he stamped. Half that proportion, however,
would yield, probably, $250, 1000, which sum
is far greater than thererenue derived tr ON
income. .-..,.,,r-sr,
"The bill of 1873, as hereby proposed to be
amended, would yield, we believe, larger
revenue than: any tax-bill passed since the
war;. r.e NIX {sas.t I
,f&r INcoMErTAx. - 'iil
"We do not recommend the stamp-tax upon
contracts, but merely suggest it as substl-
tute for the income-tax should the Leglsia-
t,1re desire to repeal the latter. In COM
pairing the difference between>the amount OF
taxation remitted and that added la differ
enee not large now-it will be well to re-
member that the omitted articles Will pro:
badly increase more rapidly! in number and
amount than the value of real estate"
1..t MR.. TAYLoR,s VIEWS. :
Tn presenting the bills drawn by Mr.. Tay-
Tor. Messrs. Hunter and Taylor say :l"Pur-
snant to resolution of the House of Dele
gates agreed TO April "a, 1874, the under
Signed respectfully submit bib providing
general provisions in relation to assessors
and commissioners Of the revenue, and the
assessment Of taxes on persons, properly,
income, licenses, &C., and 81 bill for the as
sessmentof taxes on persons, property, In
come, licenses, &c, and imposing taxes there.
ton for the support of the Govern ment and
public free schools, and to pay the interest
on the public deDt.' s. ~
L "These bills are based upon the laws now
! in force, and are those referred to by the