The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-01-09
sTaras-.rha Publio Deb. 8

20
lately addressed for the considers Ton OF the
Legislature seyeral articles on the subject OF
the burthens imposed upon commerce. Inat
decision having been rendered it gives iull
rein to any soR or partla1ity 10 TAXATION that
may be devised ior the purpose of raising
the means of meeting public tbbltgations::
We fear that the prope e place es Che
chief burfhens on trade lnay now. have p
new impulse. and: chat the restrainta sug'
gesled by practical sense land wise policy
may have less effect than they should with
the trainers Of The tsx-bil.l@j 1slG 1878
The subject besrs directly upon the pub
lie debtor, more properly, the debt bears
directly upon .that.'afW toiievy taxes
with view to paying something to wards
the public debt. Any way that the subject
may be approached except that Of direct re-
pudiation, money must be raised by taxa
ton; and when 1t Is attempted to increase
the revenue we cannot too earnestly beseech
the Legislature to beware Of burthening our
domestic commerce 30 that it suffer serious
disadvantage in competition in business and
commerce with neig1borfng States. II bur-
thens are placed upon them which will ope.
rate injuriousIy, q odirect blow. Is struck at
our agricultural Interests. None should be
willing 10 ipjure the one or the other; but
as sure as they impair the prosperity of
commerce they will irjure the agdcuturist.
The public debt is q thing which is ever
| staring at the doors of legislation. 1t will
no. disappear. The only way we suppose is
TO pay il. If there Is another way of getting
rid of debt we have not discovered it.. The
coupons of the funded bonds are constantly
gathering about the financial officers Of the
Safe. They are presented to pay taxes, and
the State officer canpot reject, them. Ii no
measure is adopted to increase revenue,
the coupons will form so large part re-
ccip,s that the available means will be INSULT
cient for the purposes Of the Government.
And what is to be done about IL? '.
Can the Legislature get rid of the cou-
pons? If not. will it increase tsxes? This
is indeed dilemma. II must be met IN
some way. The subject is one of great per.
plexity. The members of the Legislature
are greatly exercised about it. Schemes
begin to appear-new ways to pay old
debts and they seldom accomplish their
object. MIR. PENN, of the Virginia Senate,
brings forward bill to liqIdate the public
debt of Virginia. 1t proposes to ask the aid
of the Federal Government to the extent OF
$4,000 900, with which tie State debt shall
b. paid at the value Of the State bonds on the
1st of January instant; the said SIS, 900, 900
to be paid back 10 the United States Govern
ment with interest ut six per cent. per
annum.
This scheme is impractical If it passes
the Legislature nobody c,n reasonably ex-
pect that Congress will approve it. To lend
money to Virginia for the purpose indicated
would only open the way to loans to all the
States In like manner. Congress would make
no such loan with the certainty of the conse-
quence that would follow.
We anticipate that no scheme will likely
be devised which will very much diminish
the debt of the State or relieve the people o!
the burthens of taxation. We fear that each
attempt to discover how not to pay will but
increase the disinclination to bear the bur
thens of paying.
We cannot see the way to escape, and we
appreciate the embarrassing condition Of the
Legislature. But whatever they dc, ne
trust the legislators may by no means i'm pair
our Virginia commerce by partial and or
pressve burthens that may 20 far TO cripple
our merchants in competition with those of
other States.