Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1885-05-09
The Virginia Debt.

The Virginia Debt.
Mr.W.L.Rcyall, counsellor the for
elgn hondhol,lrrs, publishes cnm-
munication in relation tn II debt.
In this he SAYS that the ST; tement
made 10y him in Washington indica-
ting the plan of IL compromise he
should recommend to the bond
holders, he omitted an important
palt-that if it were accepted thr
revenues of the State at the pres
ent rate Of taxation (40centS Oh the
hundred dollarS) would pay the i'll
tereSt on the debta us bus co'npr0.
missed, leave the appropriations for
thcpublic school just what they now
are, leave the expenses oitlle State
governmental >t what they now are,
and leave II considerable surplus
over. According to his figures this
will he the result: Surplus, after
leaving appropriations for public
schools and expenses of the gov
ernmen, What they now are, 81 ,O5c.-
0GO: annual interest under compro-
mise $500, 900; annual surplus, $780,,
600. MIR. Royal concudesaS follows:
.'Ths surplus is sufficient to pay
interest on the rest of tie debt us
funded by the Riddlebergcrhlll, and
this statement ducS not take into
consideration the large increase i'll
taxable values which the assess
mcnt now going on will SHOW, and
which will he the basis of HE next
years revenues. [ have it from
one of the aSSeSSorS Of the city of
Richmond that the assessment has
proceeded far enough to disclose
that the value of real estate in this
city will be SG.000,00U more under
this assessment than it was under
that made five years back. have
if from good authority that the real
estate in Danville will show an in
crease of $1,000, 900. From every
quarter of lie State hear OF amin
crease OH Il similar SCALE"
The decision of the Supreme
Court Oh Monday in the Moore VS..
Grcenliow coupon case will doubt
less allay much OF the excitement
caused in Virginia by heapparent
" very sweeping decision III the
batch of cases decided ny he same
court two weeks before. In those
cases the counsel for the State adj
mitted the geluincness of the cou-
pons in question, and the constilu-
tionallty of the Ridtllehergel legis.
lation OF January If, 1882, Iequir-
ing every coupon offered in pay
nent of taxes to he verified in court
before being accepted as genuine.
was not discussed. Its constitutions
allty had. in fact, been admitted IN
the decision r the ease of Antoni
VS.. Greenhow. In the case decided
last Monday the plaintiff sought by
mandate to compel the delcndant
to issue certificate of deposit for
coupons rendered in pan ment of Ii
cense tax without 'yeliGcation."
The Supreme Court decided that
the coupon muStundergo the scru
itiny provided by the Riddleberger
''killer," thus compelling every tax
payer who offers coupons to under
90 the veyatiOn and expense of a
lawsuit in order to get his coupons
received. In a word, the sting Of
the "killer" is left in unimpaired
Observation-Disclosures Sun.
The Supreme Court of the Uni
ted States yesterday refused Il hear
ingin tie Virginia coupon tax cases
recently decided, and at the same,
time rendered IL decision sustaining
the refusal of the Supreme Court
of this State to issue a mandamuS
to compel the Treasurer of the city
of Richmond to receive coupons in
payment of licenses. Thus two
matters are finally settled, if we I'M
derstand these decisions: one, that
If party who owes taxes tenders
coupons in payment OF same, and
they are refused, the fficer who
distrains for such taxes CAN be pro-
ceeded against as a trespassel; the
second, that {; licenses must be paid
in money.-Noriolk Ledger May
9TH.