The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-08-21

Surplus Revenue 3189o4 A:
This statement as to the appropriations may be
verified by reference to Acts of Assembly 1878'79
5. The actual net receipts for the year 1878 are
shown by report Of the subcommittee of finance,
session Of 1078'79 page g. composed of Taliaferro
| racy OF which is endorsed by James Barbour. 1t
is urged, know, that $66,o2 Is per annum should
the State will lose that sum for the non-tax-
able character OF the new bonds. My estimate OF
receipts and expenses is made up OF the actual re
ceipts OF the last year exclusively OF the TAX on
the bonds and the actual appropriation for the
expenses OF the present year; and that sum OF
is not included in the receipts and should
not therefore be deducted from the revenue
The appropriation for Government expenses
contains a very considerable amount which is
not annual expense, but have included it all.
Among the items which make up the aggregate
of S7l0 538 90 is $206 100000 for asyums So long as
settlement it bears per cent interest instead of
8 per cent, and during that time of course there
will be that additional expense. This expense
will be increased and continues just to the extent
that obstacles are thrown in the way OF funding
under the settlement.
The Second Auditor in his letter to me saws
"The bonds presented up to July !, for funding
and which are regarded as funded that day was
upwards OF five millions, and there is reason to
believe that three times that amount will be
funded by Jan: 1, $780,
come now to your questions:
come a law, have affected the support of the pub
lie schools as compared with the settlement of
| the debt as actually passed?
The statement I have made to you shows that
the present settlement provides for the applica-
ton to the public schools Of the of SAL 1915
annually.
The Barbour bill undertook to set aside for
that purpose 10 cents on every 800 90 OF the as
sessed value OF the real and personal property of
after deducting the costs OF collection and deiip
quents (See Auditors R. 1873, Doc. p. ~ If you
add to this the net amount OF the capitation ia X
which (as applied to the school revenue) is SIi2pr
33l.l5. you will have applicable to public free
school purposes under the Barbour bill the
sum Of $41O,sls.so. (see Auditors R. 1878, Doc
Under the present settlement Sal, ISL 95
Under the Barbour bill 410,9l890
Elk. for schools under the settlement $50 1889 05
It is proper to observe, however. that the APP
OF 80 is the net sum to be realized and in
this view of the case the appropriations under
Isl. has been charged against the net revenue
OF the state in my calculation this excess OF $780,
83s 05 should be added to the amount OF 40
present amount OF taxation, and swell that sur
plus to $349, 743.47.
The Barbour BILL however, only undertook to
provide that the fund to be derived from tax on
real and personal property should be payable in
Omitted States currency, and left the capitation
its direct application to school purposes.
Even that provision. although it only extended
because not being founded on the consent of the
creditors, it would have been unconstitutional
and void even QaQ IL assumed the FORM OF q law.
The present settlement reduces the tax receiv-
able coupons from $12l3,470.94 to$952,223.48. and
by securing surplus revenue BESIDES places the
safely of the school fund beyond danger from any
source.
Moreover the act of the last Legislature facts
1878-79 p l571 providing tor the setting apart of
the honey for the public free schools accom-
plishes efectually the same purpose.
These statements may be " verified by reference
racy of the net calculations by reference to the
same book, Doc. Xxx p. II.
Second-How do these two bills compare in
making provision for the payment OF the interest
on the public debt. and what discrimination (if
any was made by them between paying the inter
To the first part OF your question reply: The
Barbour bill appropriated Is cents on every $500
of the annual value of all real and personal prop
erty to the public debt. This amounted after de-
Quoting delinquent and costs OF collection to the
sum Of S40l 975.67
1t also appropriated!
All revenues from licenses except
$4,000 thereof, the net amount
OF which after deducting $4,000
was for the year 1878 s59s, 4s4 O5
Taxes from incomes 29,7l2.63
Other revenues l95,000O0