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

it is generally conceded that both these
appointments Will be rejected.
The Debt of Virginia.
REPLY TO sENATOR-ELECT MALONE BY
SENATOR JOHNSTON.
Senator J. W. Johnston, of Virginia
furnishes to the press. above his own sig
nature, comprehensive reply to the re-
cent "address" of the readjusters in Vir-
GINA and the interview put forth by Sena-
tor-elect Malone on the State debt ques-
ton. Mr.. Johnston says that he answers
for both his State and his people, and his
response is certainly comprehensive. After
giving history of reconstruct on in Vir-
ginia, and quoting dates and resolutions,
where necessary, showing that the first OPP
portunity the people of his state had to
legislate for themselves was in January,
1870. when the State was already divided
by the setting up of West Virginia, SEN
ator Johnston says that to judge them
fairly the people of his State must be
judged only by what they have enacted
since that date. After reciting the acts
under which the State of West Virginia
was separated from the mother State and
the constitutional provisions relating to
those matters, as we'll as the financial en-
barrassments to both governments which
inevitably ensued, Mr.. Johnston plunges
into the middle of his subject in an effec-
tive way. General Malone, he begins by
saying, has laid certain details of figures
before the public. which he proceeds to
demonstrate are not only erroneous but
grossly so. Mr.. Johnston says:
'Gen. Malone says that the property of
all kinds assessed with taxes in Virginia
now is only $685.. 439 600. 1 have before
me the report of the Auditor for the fiscal
year ended September 80, 1879, and these
are the official figures: Real estate taxed,
s248, Ass 1888 SO; personal property taxed,
$40 1897 ,62567; total, s319, 1893 $50. A mis-
take of SOL 1854 $50. upon which, at fifty
cents on the one hundred dollars worth OF
property the annual revenue would b.
nearly $260,000. The positive averment is
made that the McCulloch .,ill would a1bi-
srarily impose debt of $33 ,22s.671 upon
Guc lISIuld VI UO-uay, CGC.
The McCulloch bill is found in session
not fix or attempt to fix the amount of the
debt. The constitution requires that the
legislature shall publish with the acts each
session, a statement of the public debt and
full receipts and expenditures, and this
has been done every year since our consti-
tuition went into effect. The same Legis-
lature that passed the McCuIloch bill, in
compliance with this requirement, did
publish detailed statement of the debt
and its condition, and make the aggregate
of principal $29 1857 ,958,O6.
Gen. Malone claims that the Readjus-
ters had majority in this legislature, and
IT they had and made no protest or coun-
ter statement to this document. it must
be accepted as correct. The McCulloch
bill authorized the funding of unpaid in
terest at fifty cents on the dollar, and
whatever interest was funded would have
to be added. But here is the most material
and at the same zine the most grossly in
correct of all che averments, VIZ: Tin
1880 81, when every species of property is
taxed, the revenue of Virginia cannot be
counted upon for more than $2,10O, 900,
though the levy is now since 1871 fifty
cents; and whereas formerly the State
levy of forty cents was substantially the
whole extent of our public burden, now
the aggregate of city, county, State and
on the assessed value of property, or 81, 33b
on every 500 Of our taxable values.''
First. as to the revenue, it is claimed
that the total revenue of the State can on
ly be So, 100000. will demonstrate other
wise conclusively, and, as in other cases,
will do it by official acts and record. 1 re-
fer now to the statement of actual receipts
to the treasury, emitting temporary loans,
found in Senate document IA. under date
January "a, 1879, beginning with 1S69-7O,
and coming down to and embracing 1877
IS. [ get 1S78-79 from the auditors re-
ports of that year
'1869-70 81 4S7 1884 1876 SO, 679, 1886. 66
1901 1882, 1875 1S7e-77 2505 .387. II
lS7l-72 2,160, 59e.36 1S77-7S 2631. 677.25
1 1S72 2,42l .945.4 1850 2,649, s99 OF
lS74-75 2,647 ,79O.05
porary loans, leaving So, S77, 1896 Al.
The years 1S79-sO take from the report
OF the treasurer, who is readjuster, and
Gen. Malone will not call it in question.
Then the revenue, for the year ended Sep
TENDER 30, 1880, Icing, on readjuster au-
thority, $2,877 396.41, what Is going to
bring it down at single fall to General
Mahone's figures of So 100000, a decrease
OF more than seven hundred thousand dol
lars There will be no decline in the CAPT
tatlon tax, none in the license tax, for
there is nothing to produce such a decline
and none suggested; none in the income
tax; SO if there shall be any decrease it is
bound to be in the tax on property.
Gen. Malone says the new assessments
will show decline of 20 per cent. in the
value of real estate. l don't believe this
will be the case, but, as the assessments
have not all been published, can't tell;
but conceding it to be so, the real estate
in 1879 was assessed at $24S, 1855. 933. 3S.
twenty per cent upon which is $40 ,691, 1885,
81, and at fifty cents on the hundred dol
lars worth. the reduction would be $685.
455,9S' which, taken from the actual reve-
nue. OF l879-S0. would make the receipts for
lSsO-sl the SUM OF 50, 628, $40 4S, instead of !
81 100 900, as claimed 30 confidently by |
Gen. Malone.
The statements of the interview are as
faulty and wrong in regard to the expen- |
ses OF the government and the amount |
necessary to pay interest on the McCulloch |
bill as they are in relation to the revenue.
The McCulloch bill. it is represented, fixes
Liae debt at $SS. 22S,671, On which interest