Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1881-01-19

her rcsouToos--a debt greater than that of any
other State Of tho Union-to crush out and
paraI5za the State which suffered most OF oil By
tho war. Tho revenue Of Virginia in tho year
1859 GO, 10 levy OF 40 cents upoD the 500 Of
assessed value, was So .93G,S74 In 1880 81,
when every species of property is taXod her
revenues cannot BIO counted upon for moro than
50 100 600 net, although tho levy is now (sncc
1871 80 cents; and whereas formerly the state
levy of 40 cents was substantially the whole ex
tent ct our public burden, now the aggregate of
city, county,, State aud federal eXaotions EQUALS
q tx OF 81 per cent Oh tho assessed value of
properly, or 50 335 on every one hundred dol
lars of our taxable values. The expenses Of the
State government 1ow, under the most frugal
circumstances, cannot be put ct less than
81 400 900, including tho constitutional charge
of the treo schools. and averaged about ST.
coo, OG0 until the Readius.ers came into power.
lc:. our interest account under tho MoCulioch
bill would stand for tho year 1879 OF 81, 300 1G4
for 1880 at 81, l94, lG4; for 1881 at 81 ,093, l64
tor 1852 at 81 OOS.l2. and for 1883 and each
succeeding year to 1890 at 1896. $780, or if
| averaged for the ten years. at $l,O57.5G0 q
year. For tho ensuing twenty years at per
cent, tho annual lnterts. would be 81, 320, l47
and for the remaining ten years. under tho bill
at per cent. it would DO 81 Gel 1888 year,
and this tho Funders arc wont to call 3 per
cent. sattlement-3, 4 and 5. The utter i'm
possibility of meeting merely tho average Gu.
nual lnterc6. demand of tho McCullJoh bill,
| even during tho period of lis lowest ratio, need
not DO discussed when it is apparent that after
| dttfaylng tho necessary expenses Of govern
m htH koE L.. II.
ger annual tu'pus eau DO relied on than
$700,0G0."
deny theso assertions emphatio,lly, AID will
demonstrate that they arc not onIy erroneous,
bus grossly 60. Ho says tho properly Of all
kinds assessed With taxes 10 Virginia now is
only $2G7, 100000. | have before mo tho ro-
port of the Auditor for tho fiscal year eudirg
September 80, 1879 (it any report for 1880 has
been made hsvo not scon it. but there could
DO 90 material diference). and these arc the
| official figures taken from il:
Real estate taxed $2iS ass 1888
Personal properly taxed 7U937, 625 G7
Total 1919, $50 90
a mistake OF S5l. 954 $780, upon which, ct
fifty cents en- the hundred dollars worth OF
property. tho annual revenue would be early
$500, 600.
The positive svroment is mado that "tho Ms
Culloch bill would arbitrarily impose debt of
S33 OPS GIL upon tho Virginia Of to day, &c." 1t
did not Tx or attempt to fix the amount of tho
debt. The constitution requires that the Lag.
lslaiurc shall publish with tho cots each session
statement OF tho public dcbi, and full r,c.ip!s
and expenditures. and this has been done every
year slnco our constitution went into effect,
Inc same Legislature that passed tho Nc.
Cullooh bill in compliance with this rtquircmcn,
did not publish detailed statement OF The debt
aud lts condition. and mado tho aggregate O!
principal $29, SCI ,9jS.GG.
Gen. Mshono claims that tho readjustels had
MI DIRTY In this Legislature, aud if they had
and made DO protest or counter statements 10
this document, It must DO acc,ptcd as c)rrcct
The McCu'loch bill suthoIiz ID the funding Of
unpaid ntertst ct fifty cents on tho dollar, and
whstevcr interest was funded would have to b,
added. But here ia tho most material, and at
the slno time tho most grossly irc1rrrc! OF all
he aVcrments, w: IN 1880 81, when ovory
spec e5 OF properly is taxed, tho revenues OF
Virginia cannot be councd upon for moro than
-. 100000. though tho levy is uow, siuco 1871,
hfty cents; aid. whereas formerly tho State
levy ti forty CENTS vas substantially tho whole
cEtcDt oil public burden. now tho aggregate of
oily, county, State and federal .X4ciions EQUALS
tax OF 3! per cant. on tho asst sgd vatl1 of
property, or So. %3! on every enc HUNDRED dol
lars oil our taxable values"
First ns to tho revenue. 1t is claimed that the
total rtvcIuo of tho State con oay b. s.
100000 l will demonstrate othcrSiso con
clnslVely and, as 10 other $ p, will do it ~
official rc;s and records.
l roller now to tho statement OF actual rtcsipIs
into the treasury, emitting temporary loans,
found in Senate Dec II, under date of JaLusry
2l:h, 1879. bclinLag with 1869 10. aud comirg
down to ADD embracing 1877 IS. eotlS7S ~
from tho Auditor y reports Of that ylar: