The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-03-16

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f' "d ou Rcai t>iais'
f''''''>, '',,o...i meeting ot the Beard OF If,
N">.' a., r,.amAyr Of Commerce, held
Jc;,"> - evening. She following gentle
oil >''"'''., ,,r.,,rt. MrS>rs. T. W. McCauce,
Tru wy ,,.;,... l>asc Davenport, Thomas
(. t. N.'l ~ ~ Palmer. Franklin StearnS,
Pal!>', !. G. >po,tS, William B. lS'acS,
;. l,r. II tMerry. .,;,,,,
,...'5ai.i t. pat in proper >natS she ',I .i,e
Al ...,,r, lated al I!ac last meeting OF the
'.,''~ As' her on The i"tpni'cy ot rec>'aoi',n,"S
* ;gr cent. interest avs P''>sn,su
=, -; whiy!iihc following iSa> ansai'o
It! ,'.., ,rr. Of real and personal e>'a.S III
~ :,t, il. lNG@ WIS ST.. .o.S1V.a-"' III Ao'o'
49, - j:g}-ln>> ot fa,ueS IN Ten years.
-, 49,, ..; In 1869 he SEa.c uau -
- ,,,.. h tree iuh.b.iaH'. In lo'o sue
,,,, : .Ti.;il - each tree innapltah'. III
g.; hank .irrajaion Of Virginia was
- .r $l2.N per head. The gold
.,,,.- H,1,! - tac banks and the people
"'' .-,. - 20 nayy been 100000. ana THIS
.,..,.tf q, nl more than WAS needed TO
''..r,..~,-,,3,. bnc.thlrd Of her popu-
... l.,r. ,lnr>, il WAS not necessary 10
A. ,.nr.v sui 'i,'ir wages; besides, tue
i..... .. ls- ,.;au!rr was conducted on
,.,.,.>. aif,! III purchases madc NJ
.Il. and settled tor ~ the time his crop
r'..-r-l,,... Nrw. aS The laoorinS popu-
'.'..,.i. r3tt weekly or mcnthly wages ana
.,...,.., !. da,r on short credits. there Is a
,'.4 rrIcy, uunc, lcr head than there was
',...''- IN. ,I; crier Of things. But while
~ 49, >,tr lad So Il per head OF bank CIR
,.,r,..,.,. ST., uuw nus S3.IS per head ana
,.g, I'D >,qnd =. ri Sl2.4l per head was not
,.,.,,r. i i tr compared with that exist
:nr II The mot prosperous communities ol
H. world. Great Britain has S2l.Si, France
siI4l,s.d Germany Sl1.Si; The six New
EfrsfgG state, S3l 6S, and the i've Middle
s...r> 5l2S2.
Irat4j.ioato her ordinary need OF money,
IT,. ,;fat >inpsc OF our state, tobacco, can
,-r t.. moved uryond her borders until the
;yy j pad. which j. m enormous demanu
~ money TIM WAS not known before the
us-. Las, wear SG.j0, ,039.GS was needed
s,r tia; purpose alone.
usma: 10 Tie poverty OF her people the
>,s,e t,n, i, mainly held beyond her borders,
and ? Arn the ucurv i paid into The state
trashy il is drAiDed from it at once i'll the
,ur,o rt interest, and carried abrold.
UoH j the citizen 10 provide for his taxes
and IN r.pduW uiS business: He must bor-
row b,, cna the State upon such security as
ha NAV have TO offer. and will be obliged to
80. iI- W
a,tr!in> 20 borrow.
The Eject OLA >iX per cent. u>ury law will
H.. that The trader or manufacturer must
either d;so5ey H." Law or quit the State.
Wealth accUmulatcs in 4 State either by
Tie >j;9iiG> relniuinc over the cost oi pro
duciiou OF TIE products Of The SOIL. or Dy
tie profits arising from the conversion OF
t,c faw n;.trrH into manufactured articles
marketed tcyonG her borders.
Thr crops in this STATE since the war have
III teen >urh j. 10 Jesuit in an accumula-
:; N from ihc Iir,t source. and the ability OF
;.a c;.izca II coMmIud money has been
t:7aU-h trada and manufactures alone.
Nus. VIZ! should the two sources OF wealth
s. DIFF rtHtIy .rcum>tauccd be compelled to
yield 10 one general law.
Irr ,DGf.crca and manufacturing COM
lAuuiiy d. not desire uSury law, and the
agriculture! Interests DO. Now, we suggest
Tia, In'r"y iraGrl on real estate be exempt
tom STATE ar corporation taxation, so that
iHr agricultural Interests in the State may oD-
ia.n money 1t tlr lowest rate Of interest. y
capitals! in Richmond !oaning money at the
i!g,,W rate, ) per cent, can reallZ. only 6
irr cent, y The taxation by the city is /!
lrr cent, ANA by tie State Of one per cen'.
AiG per cent. only 1 per cent. would be lett.
F"rd IrolO taxation, and in free money
marker. Ii" rae wculd probably sink TO >.
The committee commends the plan OF non
taXal0n OF money loaned on real estate as
liz plan bet suited to the Interests both OF
Inc cotnlneicA and manufacturing and the
agricultural Interest of Virginia, but
especially Of the latter.
Alter the report had been read and dis.
cUs>td by Mcs>rs. Palmer, Stearns, Daven-
port, aud others, on motion OF Mr.. William
+. lsa&c>. il WAS
'Hcsotced, That :hc report be printed
and copy sent 10 each senator and delegate
III The General Assembly and to the Gov
ernorand LicUtcEant-GoyernOr Of the State" ;"
on Inolon OF Mr.. isaacS, it was further
- H:$gir"l, That the preamble and reSo.
lu.Ion, adopted a; the last meeting OF the
directors touching the Valley railroad eX-
tension be printed and II copy sent to the
governor and Licutcnant-Governor of the
Sta;t aud each senator and delegate Of the
General Assembly"
NJ Pot, offered certain resolutions in
relation TO State bureau Of insurance
""ich wrrc referred to special committee
ioF l"plrt at the next meeting Of the Board.