The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-01

I0f fnes sfQHOTSfCj ltc DSoP~stf''
The Wing OF the Both gives US such part
OF the communication OF the Auditor upon
the financial condition OF the State as an.
swers its purpose, but Is unfortunately I'M
able, by want Of space. to giyethe Audstor,s
full reply to the letter addressed to bimi Dy
the editor of that paper. We have ,been SO
fortunate as to see the tables OF fgures 1ur-
nished by the Auditory andinotgiven Dy tne
Wing, and propose TO inform the PUBIC
more in detail of the condition OF our
finances. The Auditor reports that for the
nine months ending on the 1st Of July, 1878,
there had been paid into the Treasury 81, 800,
ss6 Dc. ofwbich 81, 065, 168 was paid IN cou-
mons. This does not include the loans from
the banks, oil Of which have been paid back
to them, but is revenue proper. -,
THE Auditor estimates the amount OF
revenue uncolIeeted at 100000. How
much OF this may be insolrent we are net
informed by any estimate Of. .his, although
the JHhiq, without any authority fer the
statement, pronounceS this sum as repre-
sentipo 4" delinquent taxes, small per cent.
! Of wirich will be realized" It's but rea-
sopable to suppose that the Auditor intend
| od nv this sum to give the amount Of taxes
sharoed against treasurers who had not set
fled on the 1st of july, and whose insolYent
| LIST would not be In any larger ratio to the
taxes assessed than that OF other treasurers:
Most OF the treasurers had their final settle
ments before the LIST OF July, and the Audi
tor would hardly include in an estimate OF
resources OF the Commonwealth the 'delin-
ouent taxesrppofted by them. II it betrue
that he has done SO, then the $500, 900 would
cover all the delinquent faxes assessed for
the present fiscal year. The report OF the
Finance Committee Of the House OF Dele
eotcs last winter upon the financial .cond;-
fion OF the State estimated S127,506.73 for
insolyent and delinquent taxes, and after
deductins that sum left 50, 449, 2l4:64 as the
net revenue Is be derived from the taxes as
sessea. 1t will be remembered that this es.
innate included nothing to be derived from
the Moffett tax on liquors, which the Au-
ditor has informed us will be oyer $780,
600, estimating by actual receipts Nor, did
II include about 100000 already received
from, the Chesapeake and Ohio railroad
for taxes recovered by suit. By. adding
these sums we have $2,S49,21464, which
we had a right to expect as our revenue
for the fiscal year. Deduct from this the
sum reported by the Auditor as collected
TO the ist OF July, and we have balance
OF 519,34S.21, which should come in during
the last three months of the fiscal, year, or
else the insolyent list will be, increased be-
yond all previous experience. ..
The Auditor estimates that the sum OF
1915, 557. 90 will cover all demands on the
Treasury for the remainder OF the fiscal
wear: but in that sum he includes $500, 1000
as due to the public schools. This en-
braces the sum Of 1892. 1926 ,arreurages to
the school fund for the years 1870, IL, ~,
'73, and IA, as estimated by the House
Finance Committee. Deduct this amount
from the estimate Of the Auditor, and we
have S432, Ss5.27 as the amount needed to
meet all demands on the Treasury to the end
of the fiscal year, and we have seen we
should receive S519,345.21 with which to
pay this. That these sc-called arrearages to
the schools should be deducted is plain.
for the reason that they are no part OF the
annual tax levied for them, and were only
directed by the Legislature to be paid
when the, condition y OF the Treasury
no part of the obligations OF the
State, having arisen from the failure Of
the Legislature to provide fully for
the free schools during the years men,
toned, while the Constitution provides
that the system need not be fully introduced
till 1876. The persistence Of the forcible re-
adiusters in fixing the amount claimed as
due to the free schools before that year as a
debt upon the State can only be accounted
for on the theory that they wish to do any
thing with the public funds rather than pay
the public debt.
The bugbear of the Wing, the absorption
of the revenue by the coupons, is demon
strated by the Auditors answer to be the
merest illusion. OF the revenue received
to the 1st of July, S1,264,69S.45 was in cur.
rency. OF this currency S74S,957.l7 was
used to pay ordinary expenses OF Govern
ment, leaving $515, T41.2S to support the
schools and pay extraordinary expenses for
the nine months preceding. II we had be-
lieved the Wing all these nine months. we
would have labored under the delusion that
the Treasury was empty and the State in a
condition OF bankruptcy.