Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-04-18

or sixtv thousand dollars per annum.
That has not ali been cut of yet,
a. most Of tho stores and saloons
whore liquor Is sold have not yet been
closed. and will not be until about the
middle Of the year; but the city fathers
understand very well that 1t is to be cut
off during the present summer, and it
becomes necessary to provide Tor the
loss. and am not aware Of any other
means the city has forraising the money
TO meet her current expenses but by
using her credit or collecting, which Is
the usual plan, the necessary amount
by taxation upon the property OF the
city. If the statement which | see In
the newspapers is correct, there has
been an increase Of over IS per cent. in
the valuation of my real estate in At
lanta this year over last year. 1t is
said the assessors returned the pro-
perty under oath, and did not, there
fore, overvalne it. The assessors
of last year and the preceding years
also returned it under oath. Did they
undervalue it? No one will contend for
a moment that there has been rs per
cent. increase in the value Of my pro-
perty during the year, or that there has
been 10 per cent. have now three
storerooms standing idle, which have
been idle for months, and cannot get
tenants at reasonable rental. My in
come from my rents are considerably
less than they were last year. 1t is
said that the property is centrally To-
Gated and will bear a high valuation
but central property can be taxed so
high as not to pay reasonable income
as rental. After deductipg taxes
State, county, and city, and paying in
surance, repairs, aud contingencies
my real estate will only net me about
as much as non-taxable bonds that are
perfectly good would yield me as iu-
terest. The bonds as much less trouble,
and are to be preferred if they ap-
proximate the same income. If real
estate does not pay decidedly better
than bonds which are perfectly secure,
there is no inducement to those who
have money to invest it in the improve
ment Of real estate or to aid in build
ing up the city. 1t cannot be the in
terest Of the city to increase taxation
to a point which will drive capital into
other investments. The city must make
up by additional taxation the losses she
may sustain on the liquor traffic or she
must borrow and increase her debt;
and as her debt is now about as large
as the Constitution of the State will
permit, she cannot adopt the latter al
tentative, and it certainly would not be
wise if she could. But it is said the
property holders can afford to sustain
these losses and heavy increase Of
taxes on account Of the great good that
will result from prohibition. If pro-
hibition did really prohibit there might
be some plausibility in the statement,
but everybody who has any know
ledge Of the state Of things in a
prohibition State knows that any man
who has money to pay for it and wants
whiskey can get as much as he desires.
1t is driven out of respectable and or
Derby houses as we'll as out Of the
doggeries into the cellars and hiding
places. Those who want it can easily
find it. and those who have the money
can always purchase it, and while it is
used freely by those who desire it, it is
relieved Of all taxation, and the tax
that it would otherwise pay must be
raised by higher assessments on pro-
perty."
Why was it necessary to increase
valuation of property in Atlanta in Or
der to increase the tax?"
Senator Brown "Because the law
will only permit the city to assess and
collect /! per cent. on property within
its limits. When, therefore, it sustains
heavy loss by relieving from taxation
any particular kind Of property, or any
line of business heretofore taxed it is
necessary for the assessors to put
higher valuation on the property for the
ensuing year, and in that way increase
taxation"
"How much, Senator, will your tax
be increased this year,"
If the reports in the newspaper to
which | have referred be correct, then
by the increased valuation my city tax
will be increased this year 1890.
Judging by experience, therefore,
cannot say that the taxes of Atlanta
have not been increased, and | think
there is no candid man-not fanatic
who will deny that prohibition has had
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