Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1881-02-04

at per cent. for ten years was to be paid.
The interest, therefore, would be only
1896, $3.50 49, But General Malone says it
would be 81 ,299. 1874 for 1879; for 1880 1t
would be 81, 1874. 164;for 1881 the sum OF
ST. ,O93 .164; for 1882 the sum of 81 .OOSOl2,
and for each succeeding year to 1890 the
sum of $500, 1850, making an average for
The ten years of ST. ,057. 500.
Most people will be unable to understand
this arithmetic. He puts the expenses of
the State government and the schools IN
der the most frugal administration at ST.
400 900, to which he claims the Readjus-
ters had reduced them. When the Read
justers did this it is hard to guess, as the
assertion is made positively in the address
that ''funderism had controlled the gov
eminent without interruption to the LIST
Of January, $780," But conceding Gen.
Mahone's figures as to the annual calls
upon the people for all purposes, though
by no meaus correct. and this result Is
reached: Annual outlay for the expenses
of the government ard support of schools,
$l.4OO 600; average interest for ten years
on the McCulloch bill, ST. ,057 500; total
annual charge to 1890. $2.457 sou.
Now compare this with the statement
ab,ve given from official sources of annual
receipts. and an, body can see that the
revenue. at existing rates, without any in
crease Of taxation, would have been ample
for all purposes if the McCulloch bill had
been allowed to gointo full effect if the Re-
adJus erS had not succeeded in accomplish
ing its d-feat. But Gen. Malone s figures
are by no means correct when he says that
81 ,4GO.OO is the lowest point to which the
State and school expenses could be reduc-
"a. And here again, to cODfute him,
have official statements taken from the re-
port Of the auditor of public accounts.
This gives the actual expenses of the gov
eminent for the year ending September 80.
1878, at $877 ,O73 50. Under the operation
of a previous amendment to the constitu
ton since that time the number of the
members of the General Assembly has
been reduced and their pay diminished,
and its sessions made biennial, all of which
will make a corresponding reduction in
expenses, and bv the act of 1877 rs all the
salaries under the state government were
reduced. The session of 1879 80 was the
first under the new arrangement. The re-
port of the treasurer, ended September 3d.
1880, shows that the previous estimates OF
the auditor of the expenses of the State
government were substantially verified.
The auditors report for 1879 also shows
that the actual expenses of the govern
ment for the year ended September 30tb,
1879. were $778 $685., and the estimates
for the year ended September 80, 1880. at
s69O.5SS
A committee of the Legislature, COM
posed of majority of Readjusters, ap
pointed especially to report what actual
revenue they could safely depend upon and
what the school fund was entitled to each
year, reoprted on the 18th of January,
1878, that the actual revenue was certainly
as much as So, 449 Plaza, and the school
not guesses. but hard facts and show as
follows: Actual expenses of government
for 1878 '79, SITS, 688, 81; actual sum due to
schools each year, $411, 1926; making ST.
276,471.72, instead of $1.4OO,OOO. And to
this be added the interest on the debt at 3
per cent, even putting it at Gen. Mahone's
figures, 1896, 1850. Is, we have $2,273, 1881 IS
as the real outlay if the McCullOch bill
had been carried into effect.
In his statements, both of revenue and
expenditures, made with such an assump-
lion OF extreme care and accuracy, Gen.
Malone is cOntradicted by the Riddleber-
ger bill itself. He says the most revenue
to be expected is So, 100, 900, but the Rid
uAOUCASOA Ull13 WulCu Ill 1GS pIGdIuDl0 RO6S
into details, puts this at $2,165. 900. Gen.
Malone says that under the most frugal
administration the expenses of the gov
eminent and schools cannot be gotten be-
low 81, 400 900, but the Riddleberger bill
puts the State government at $500, 900.
schools s431 900, total 81 1881 ,OOO-being
S6S, 300 below what Gen. Malone claims
70 be low water mark.
But both Gen. Malone and the Riddle
berger bill put the State expenses too high
and the revenue too low, as have shown.
And here it may be instructive to COM
pare the Riddleberger bill and the late ad-
dress and interview of Gen. Malone with
Gen. Malone himself. I gave an extract
from the published address delivered by
the invitation before the Mozart Hall con-
vention, which contains an estimate of
revenues and expenses and of the State
debt, and winds up with balances OF
$155,0O0 in the treasury. Extract from
Gen. Malone, viz:
First that the ret revenue from all sour
ces is So, 49,, 423 rs. Second. expense of gov
ernment [estimated) after discounting es-
timated savings from biennial sessions and
in the cost of criminal proceedings, $780,
600; proportion of net revenue due to the
public schools 1887 442. So. total 81 347 ,442 :
So; net revenue, 81, la. 981.22. Third, that
The principal of the debt proper, including
bonds held by the literary fund of ST. 49,
1880, is 1922, 90331. Fourth, that ar
rears of interest on the debt thus stated.
Including $685. 44S. 10 due on bonds to be
held by literary fund) amount to S. 208,-
s7S:4s, less matured coupons outstandinp
which cannot be funded. (estimateG) $780,
900 leaving balance to be funded, 81 $685..
373.43; which funded at fifty cents on~tthe
dollar, gives, to be added to the foregoing
principal, So. 254, 1851; making the pin
cipal of the debt on which interest is to
be paid 2,977 ,09002. Fifth, that at
three per cent. the interest on this princi-
pal amounts in round figures to 1890 600.
Now if the income of the State can be
relied on for 81, JAS 900, as above estima-
ted, it appears that this at three per cent.
can be paid, leaving surplus of $155,O00
IN the treasury"
The exposure of these errors would sure
ly be sufficient, but there are others just as
gross. The statement is made that the
tax on property in Virginia, estate, city,
county, and federal eXactions," amounts
to $3.335 on every hundred dollars worth.
Is this so? The real and personal proper
ty together under the last complete assess
ment was, as have stated, $319, 1893 ,559-
O5. Now three and a third per cent. ON
this reaches the great amount uf SO $751;
TIA. Does Gen. Malone mean really to
tell the public that the people of Virginia
property? He puts the tax for the State
at 81 100 600. What are the other eight
millions NEARLY for?
The report of the auditor, already quo
ted, shows that the total county and city
taxation in Virginia was only s1,367 1886
Oh; which would leave more than seven
millions of dollars to come in under the
head of Federal exactions." The total
tax on property for all purposes, levied by
the State, counties, cities and towns, only
aggregate s2,979, S14.35 or less than 1 per
cent. Of the assessed value of the property
of the people. The ssBourbons" or fund
ors.; ara NOT rpspoDeih1o for tsFadora1