The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-09-08
State Financial Cond,t,on.


We give below the financial circular OF
R.H. Maury 6 Co., brokers' Richmond,
Va, issued last Saturday. 1t will be seen
from it that the condition of the State
finances is more favorable than the public
anticipated, and that the argument of the
figures adduced is convincing that the as
sumptions of the Riddleberger bill are falla-
cious. The influence iof the official facts
given from the Auditors Office, win be more
powerful in moulding public opinion and
directing legislative action than any appeal
from the hastings can be. These figures,
supplemented by the decisions Of thecourtss
will go far towards simplifying the debt
controversy, equalizing the claims of the
creditors, and giving the country the as
surance that the State intends to deal fairly
with her creditors and respect her own ira
ditions. The circular says: &se sseE
Since our last writing, Virginia securities of
all classes have been weaker, and upon. but
small sales haye declined considerably. Dur
ing the political campaign there seems but. lit.
tile disposition to buy, and unless fresh orders
come from abroad, it is not likely that they
O
eral rally in the entire market. Peelers seem
more stoutly sustained than any of the others,
as 1t Is generally believed that they are favor
ably regarded by both parties, and that even if
the Re-adJusters come into power, somethipgi
substantial will be done for these much neg,
lect creditors who have been without their
interest so long, while the envied Consols and
Ten-Fortles have been enjoying the advan-i
tages of the self collecting coupons There is
of in, no
State Treasury, and what better could be done
with 1t than pay part, at least, to these un-
fortunate bondholders, most of whom are
probably our own people and many widows
and orphans in dire need of their interest.
Additional strength is given to these bonds by
the fact that there is 80 small an amount out
standing-less than two and half millions
all Of the others having been heretofore retired
and cancelled through the operations Of the
Sinking Funa, and also by the expectation
that the next Legislature whether Funder or,
Re-adjuster, will give authority for converting
all OF the assets ofthe Sinking Fund into mon
ey they would now realize about two millions
OF dollars-to be used in retiring the whole of
these bonds and other obligations of the State.
We think the bonds of all classes are desirable
purchases at present prices, especially Peelers
and Ten-Forties, and that those who buy now
will be able to sell at much better prices next
fall. 1t is possible that Consols may decline
somewhat farther, but we expect to see Ten
Forties steady and Peelers advancing within
the near future. 0fa.s5.,lf
In advance of the publication of the Audi
tors report for the year ending September,
1880, we are able, drought the courtesy ofthe
officers of that department, to present our
friends with the following official statement
OF the amounts of the assessed taxes named
for the years 1879 and 1880:
TAXES. 1879 1880.
Capitation 2s4,74s 80. sol $3.50 90
cry ................ $780, 72 80. S5l, $50 %
Tax on Income 29,4T SO. 1924 CO.
Tax on Real Estate. 1,242,279 Ct. 1,2562l26I
Fractional gains in tax on f4''
real estate. ........... 2233l, e F.f gf,sss
Fractional gains in tax on
Personal Property. 14479.t .9yaet e
Licenses, Liquor. 331, 668 80. 33l87 ~
g Business, &c.,. s4o,o1s o.. sn,6s7l5
s2,57s,4s7 os. s2,s4s,s2s II
This shows an increase in these items alone,
for 1880, of $67 $751; which goes far to stlbstan-
tate our claim of the rapidly increasing pros
perity of Virginia, and the consequent in
crease OF her annual revenue. OF course it
will be understood that the above does not
constitute the entire income efthe State, for
she has many other sources of revenue be-
sides the taxes and licenses mentioned in the
above statement, as, for example, the tax paid
by railroads, which in 1879 was SIS 900 and
IL AOOV was Yo@,VUO1 GdA0S pAlu ny DdukS anu
insurance companies; taxes paid on deeds and
wills, and many others, which in 1879 were
not less than $S75, 600, and suficed, after all
allowances for arrearages and costs OF collect
ton, to make the total revenues of the State
for that year s., 619, S99 In like manner these
same items for 1880, when added to the above
named taxes, after all deductions for arrear-s
ages and cost of collection, give total reve-
nue. from regular sources for 1880, according
to Mr.. Massey's official report, of So 49,, 253,
thus showing still larger increase in the
amount OF these items than the $67 1871 in--
crease of taxes as given in the above table.
Indeed, no one at all acquainted with the con-
dition of affairs in Virginia to-day can doubt
that her prosperity has been very marked and
rapid in the past two years, and that it prom
lses to increase much more rapidly in the fu-
ture, and thus to afford larger and larger
revenue every year. The figures given above
confirm this as to the past, and we learn every
lay of fresh evidences to the same effect as to
.he future. a..