Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1881-01-25

L u0 SCSSlOu OI 1919 on WAS tue uTSt u0-
der the new arrangement. The report
of the treasurer, ended September 80,
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 government for the year ended Sep
TENDER go 1870, were $778, 68S 81, and he
estimates for the year ended September
80, 1880, at $500 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, reported on the 18th of
January, 1878, that the actual revenue
| was certainly as much as So, AS, 214 "a,
and the school fund should have
$497, 1926. These are not guesses but
hard facts, and show as follows: Actual
expenses of government for 1878-'79,
| SITS, 1888 81; actual sum due to schools
each year, $411, 1872 IS; making 81 49,
AL ~, instead of 81, 400, 00O And if to
this be added the interest on the debt at
per cent. even putting it at Gen. Ma
homes figures, 1896, 86013, we have
So, 273, 331.S5 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 as
sumption of extreme care and accuracy
| Gen. Malone is ,contradicted, 6N the
Riddleberger bill ITSELF He Says the
most revenue to be expected is So, 100, 600,
but the Riddleberger bill, which in its
preamble goes into details, puts this, at
at So, 165, 600. Gen. Malone says that
under the most frugal administration
the expenses of the government and
schools cannot be gotten below 81 AGO.
600, but the Riddleberger bill puts the
State government at $500, 900, schools
$431 900, total $1,331, 000--being $68, 300
below what Gen. Malone claims to be
low water mark. 81
But both Gen. Malone and the Rid
dleberger bill put the State expenses too
high and the revenue too low, as have
shown. And here it may be instructive
to compare the Riddleberger bill and
the late address and interview of Gen.
Malone with Gen. Malone himself. 1
give an extract from his published ad
dress delivered by invitation before the
Mozart Hall convention, which con-
tains an estimate of revenues and of
expenses and of the State debt, and
winds up with baance of $155, 900 in
the treasury. Extract from Gen. Ma.
hone, viz:
First, that the net revenue from all
sources is So, 49,, 423 rs. Second, expenses
of government (estimated) after dis.
counting estimated savings from bien-
NAL sessions and in the cost of criminal
proceedings, $3.50, 900; proportion of net
revenue due to the public schools, $751;
1928; total, 81, 347, 44253 net revenue,
lS1,144, 9S1 % Third, that the principal
of the debt proper, including bonds
held by the literary fund of 81 AIS, 245. 20,
is $50, 722. 903 81. Fourth, that arrears of
Interest on the debt thus stated, Gn-
Guiding $685., 44S 10 due on bonds to be
held by the literary funds,) amount to
Sc, 208, 1873 43, less matured coupons out
standing which cannot be funded,
(estimated.) $500 600; leaving balance
TO be funded, 81 sos, 1873 43, which, fund
ed at so cents on the dollar, gives. to be
added to the foregoing principal. 81, 254,
1851; making principal of the debt on
which interest is to be paid $50, 977 $780,
OF. Fifth, that at three per cent the
interest on this principal amounts in
round figures to $990,000."
Now, if the income of the State can
be relied on for 81, 145, 900, as above esti-
mated, it appears that this at three per
cent. can be paid, leaving surplus OF
$155 900 in the treasury
The exposure of these errors would
surely be sufficient, but there are others
lust as gross. The statement is made
that thef tax on property inkVirginia
Estate, city, county and federal exac-
, tions," amounts to So 335 on every hun.
bred dollars worth. Is this SO? The
real and personal property together un-
der the last complete assessment was, as
have stated, 1919, 1893. $50 05. Now
: three and a third per cent. on this
reaches the great amount OF S10,67S, TIA
Does Gen. Malone mean really to tell
the public that the people of Virgins
pay any such sum as that by a tax On
property? He puts the tax for the State
: at so, 100000. What are the other eighl
5 millions (nearly) for?
The report of the auditor, already
/ quoted, shows that the total county and
, CITY taxation in Virginia was only
81 ,3e7, 1886. OF, which would leave more
than seven millions Of dollars to come
| in under the head of Federal exsc
+ TONS" The total tax on property fol
all purposes, levied by the State, coun
ties, cities and towns, only aggregates
So, 979, SLABS, or less than I per cent. OF
the assessed value of the property of the
: people. The "Rourbonsn or "flnders'
, are not responsible for Federal exac
| tions," If any are practiced.
> There is one fact very material to bt
, known and understood in all this dis
: cussion about the debt of Virginia, anc
; that is that the large amount of S., 800,
| 3O6 80 of it held by the commissioners
of the sinking fund was required by thu
McCulloch bill to be cancelled and ex.
{ | tipguished, thus Kidding the State for
: ever of that arnapnt. (See report o.
q second auditor for 1921 The Riddle
berger bill, which is the one the read
) justers passed and propose to stand by
I fixes the debt at 1865, 1876, which il
! declares to be the true amount due.
3 Mr.. johnson says: IF the claims O
: the readjusters should appear, as | in
sist they do, nnsopnd snd INCORRECT a.
! to matters of the debt anG revenues aht
e expenditures of the State, are they NOR
reliable in other respectsF He add
that, as far as he can recollect, no lead
ing member of the readjusters was mem
q Der of the reconstructed first Legislature
: GAS to the boast" he says, "made 81
. loudly that under the control of the re
e adiusters, put in office year ago, tn
\ affairs of the State have been better ad
+ ministered than formerly, it must b.
borne in mind that under the McCul
r loch bill the amountof 5000, 40 70 wa
!. funded in new bonds at three per cent
, which before that time bore six per cent.
thus reducing the interest one half .ant
e effecting an annual saving to the Stat
j: of more than S240,QQ0,' of which two
r thirds would be in tax receivable cou
f pons. Of the sum funded SOS, 1874 81
n we're purchased for the sinking funt
and hav e since been cancelled. So tina
| whereas before the passage of the Nc
Cullocl bill the State had to pay six pc
q lcent. on So, O4O. 440 70. it now pays three
: per cent. on 81, 944, 314 80, (see report o
8 second auditor, 1872 and it is the saw
: ing thus effected and the saving by re
! trenchment acts of the so called "Bour
bon" Legislature of 1S77-'78 that ha
q made money more abundant in tn
+ treasury, and not any skillfnl or wis
!; MANAGEMENT OF the officers.
@ In conclusion Senator johnson say!
q that, entirely apart from political con
) siderations, the policy of the next ad
: ministration and the ambitions Of Gen
| NEoLo,o on1 bic followers ia final re