The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-04-06

IL
porter ON Saturday last with copy oil DIS
last circular; but all the same he furnished
Ii, ~ the Wkiq. wdl, what our reporter
managed 10 gather was stated IN our paper
of Yesterday. There are two features OF u,
however, witch we did not notice. One OF
these we now copy. After mentioning DIS
6rt circular In regard to coupons wn'cn
circular referred only to arrearages," ne
eyp,s;us Il more clearly as follows:
when county or corporation treasurers
race,ve the commissioners books OF tne'r
| respective counties and corporations iney
| orc charged upon the books OF the Audiior
., publlc Accounts with the amount OF
| taxes TINS placed In their hands for coIlec-
zion. They have until the 18th day OF the
next June TO collect and pay these taxes.
THOSE which cannot be collected may be re-
t,rned .. deIinouent.r Any sums which
are nelthcr paid nor returned delinquent
must be Daid by the defaulting treasurer or
his sureties. Such" arfearages " cannot De
paid in coupons.
We have nothing to say as TO this part OF
the Auditors last circular. 1t allows col
lcctors to receive coupons up to the middle
of June, annually.
The other new feature is the requirement
that the coupons OF the bonds issued under
the MctULLoCH bill shall be taxed, as well
as those issued under the funding bill OF
1871. lie says:
II is therefore my duty TO instruct YOU,
which / hereby do, to retain the fax re-
ouired by law from all coupons received by
you. no matter from what class OF bonds
they may have been taken.
IL has been agreed between the second
Auditor and myself that the market value
Of the bonds which were issued under The
funding bill OF March 80, 1871. is S54
From the coupons taken from these bonds
YOU will retain the tax, as follows-to VII:
From The $50 coupon. 81 35; from the SO
coupon, 81 cents; from the So coupon, IL
cents.
We bave also ascertained that the market
value OF the bonds issued under the act OF
March %, 1879, commonly known as the
" McCuIioch bili," is S3S. From the cou-
pons taken from these bonds YOU will retain
The tax as folloNs-tO wit: From the Sl5
coupon, 95 cents; from the $3.50 coupon,
AZ cents; from The $3.50 coupon, 10 cents.
Only those coupons can be received which
bear on their face that they are "recevable
for all taxes, debts, dues, and demands due
the State and which shall have malured at
the time OF reception.
1t will be seen that Mr.. MASSEY has thus
assumed TO set aside law OF the State.
The law expressly provides that the bonds
issued under the MCCULLoCH bill shall be
forever exempt from all taxation, direct or
Indirect, by the State"
Without asking the courts to adiudicate
the question for him, and although be i
preacher and not lawyer, Mr.. MASSEY
audacious'y assumes that this provision is
unconstitutional, and declares that it shall
not be respected. In plain violation OF the
spirit Of the Constitution. be. an executive
officer, ASSUMES judicial functions. Every
bond funded under the MCCCLLocH bill was
funded with the distinct agreement That in
surrendering a per cent. bond for 8 per
cent. bond the holder Of the new bond
gained as some Offset to the inequality Of
the exchange Il nou-taXable bOnd-a bond
which could not be taxed either directly or
upon its value or upon
its coupons. The holder, in word, paid
all his taxes in advance when be gave to The
State for forty years three dollars annually
out of his annual intertst Of six dollars.
The tax was, we repeat. paid in advance.
Dir. MASSEY is playing desperate game.
He allows no consideration OF his own in
TO decide legal questions to deter
him for one moment from carrying ont
General MAHoNE's programme for keeping
Virginia In condition OF turmoil and
trouble, and preventing her people from
voting next November for the Democratic
nominee for President. But his devlish
Vaccinations will result in failure. He was
defeated last November by the people who
best know him and all his tricks. Before
another election, the entire people Of Vir-
Q inia may learn TO know him as well as his
Albemarle neighbors now know him.
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