Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1881-02-22
From the Culpeper Times,]
The State Debt.

of Virginia have been divided in Opin-
ion upon the question, What shall be
done about the debt of the State? All
who love the peace and good of the Com
monwealth deplore as public calamity
the bitterness and acrimony produced
by this difference of opinion. We pro-
pose to confine ourselves to the practical
question, out of which has grown the
whole agitation, to wit How can the
public debt, at whatever amount it may
be finally adjusted, be paid without
bearing too heavily on people impov-
erished by the events of the last twenty
years?
If satisfactory solution of the prob
lem can be given, the amount of the pub
lie debt and the rate of interest to be
paid on it will be speedily adjusted, to
the satisfaction of the creditors of the
State, as also of both parties now organ
izing for a desperate struggle this fall.
among a people, having common in
terest and destiny, grow out of the &C
ton of the government, generally, in
reference to the distribution Of the bur-
dens of taxation. Such is the case at
this time, although the fact, owing to
causes not necessary for the purposes of
this article to be stated, has been hidden
away from the public view. By the
adoption of an equitable and just system
of taxation the settlement of the State
debt will be made easy and the unhap-
by strife terminated. The Constitution
requires that, Taxation, exceptas here
matter provided, whether imposed by
the State, county, or corporate bodies,
shall be equal aud uniform, and all prop
erty, both real and personal, shall be
taxed in proportion to its value, to be
ascertained as prescribed by law" 1t
is assumed, as q general rule, that the
burden of taxation, under an 0d v0Iorena
system, will fall equally heavy on all
classes of taxpayers; but the assump-
ton is not true. In the same Article of
the Constitution the principle is aban-
doned, and it is provided that "the Gen.
eral Assembly may levy tax on in
comes in excess Of six hundred dollars
per annum" but only on such. The truth
is that an 0d v0gore7s tax, as general
rule, bears more heavily on small than
on large property-holders. All men
having knowledge on the subject from
their on experience or close observation
of the experience of others know this is
true. The reason is this The large
property-holders pay their taxes out of
what otherwise would be converted into
increased capital or expended in what
are termed the comforts or luxuries of
life. while the small property holders
pay theirs, generally, out of the neces
saries. For this reason, the small prop
erty-holders are generally what are
termed Readjusters. A just system of
distributing the burdens of taxation re-
quires that the Gd V0Ioreno principle be
abandoned and in its place adopted the
principle that on the smallest property
holders the lowest rate be imposed and
the rate increased as the amount of
property owned increases.
The following amendment to the first
Section of the 10th Article of the Con-
stitution is suggested by way of illustra-
ting the practical application of the
principle, to witt
"Section |. Taxation, except as here
matter provided, whether imposed by
the State, County, or Corporate bodies,
on all real estate, shall be at, or proper
tionately to, the following rate, to wit:
On the first thousand dollars of assessed
value, or fractional part thereof, one
mill on the dollar; on the second thou
sand dollars, or fractional part thereof,
one aud one-hundredth mills on the
dollar; one the third thousand dollars,
or fractional part thereof, one and two
hundredths mills on the dollar, and on
larger amounts of assessed value, on
each additional thousand dollars, or
fractional part thereof, at rate increas-
ed in the same ratio, to wit :-One per
cent. on the rae of taxation on the first
thousand dollars, or fractional part
thereof added to the rate on the preced-
ing thousand dollars, or fractional part
thereof.
When real estate is owned by the same
party, in several counties, cities or
towns, the State taxes on the aggregate
amount of assessed values shall be as
sessed according to the foregoing rule |
by such State officers and in the mode |
prescribed by law. The rule for impos-
ing taxes on personal property shall be
the same as herein before prescribed for
the taxation of real estate, but this Sec
ton shall not be construed as requiring |
the same rate Of taxation on real and |
personal property.
To show the practical result of the
adoption of such a constitutional
we give below table
showing the amount of tax on the as
sessed value of property from 81, 100000
to 100000, emitting all fractional
parts of 81 900 90, and from SIC, 900. 90 to
S10O, 10000, emitting, for brevity. all
amounts, except multiples of 10, 900, and
from 500, 900. 90 TO 81 900, 10000, emitting
all amounts except multiples of 100000,
and from 81 900 600 90 to SIC, 600, 10000,
all amounts except multiples
Of 100000. This table is based on the
that one mill on the dollar
On the first thousand dollars, or frac-
ional part thereof, is fixed by the Leg
stature as the rate of tax. The taxes
could be increased or diminished, as the
treasury required, the tax on the first
Thousand dollars, or fractional part
thereof, under the constitutional amend
ment. fixing the rate and amount of
lax on all other sums. A similar table
for any rate and on every amount can
be readily compiled.
TAX TABLE. Ii
at the rate of one mill on the dollar on
the first thousand dollars, and in
creased as required 6y the suggested I
constitutional amendment.
ASSESSED AMOUNT Il ASSESSED AMOUNT OF {
VALUE. OF TAX. n Waite nav !.