Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-04-07
wEDNESDAY.........APRIL I, 1885,
Facts VS. Figures-Again.

Facts VS. Figures-Again.
The Governors proclamation comes
out, Is we said y sterday, just in time
TO neutralize the evil counsels Of men
who, knowing nothing Of the wishes Of
the people of the State at large, or else
Indifferent to those wishes, seriously
propose and discuss such questions
concerning the public debt as whether
the voters would agree to pay 2 per
cent. more of interest than the average
rate under the rejected, repudiated, de-
spised McCULLocH bill. These evil
counsels are based upon mere sssump-
tiops. Let US look at few more OF
the figures presented by the Second
Auditor in his letter in our issue OF
Sunday last. We especially commend
these figures to the study of our
friends, Messrs. JOHN A. HANDLE
TON & Co., Of Baltimore.
Nobody can use even one shirty-dol-
lar coupon whose tax is not over forty
one dollars. We repeat our explana-
ton Of yesterday. 1t is because the
capitation.tax and the school-tax, the
latter one fourth oil the whole amount,
have to be paid in money. The figures
are
Whole amount Of tax bill.."........... s41.00
Deduct capiiaiion TAX. Soc. and
one fourth (sl0.25) ..."""."............ l1.O3
$40 OF
The whole number of persons pay
ing as much as s25 and not over 600
tax is S,46l, leaving only 1924 who
pay more than slOO. What do those
thoughtless people think Of the propo-
sition to allow fewer than 10000 Of
richest persons in the Commonwealth to
pay their taxes in coupons, and compel
more than 100000 poorer mot to say
poor persons to pay their taxes in
money?
OF the s,46l who pay IS much as
s25 and not more tbaa 800, as many
as 1926 pay $50 or less-seven tenths.
Il is Gear, then, that as the figures
grow larger, the proportion Of the
lowest numbers must increase relative
ly to the total number.
We wish to show how few persons
could use thirty.dolar coupons even if
the State were to invite the taxpayers
to pay their taxes in coupons. We say
nothing as to railroads or other corpo-
rations, or as to licenses. The Legis-
lature can take care Of the latter by
doubling the tax, or quadrupling it, so
far as merchants licenses are con-
cerned, and making them payable two
or four times year, and by legislating
so as to compel corporations to pay
their taxes in money.
The whole amount Of thirty-dollar
coupons maturing annually is $780,
$50. After deducting one fourth for
the school tax, and eighty cents for
c,pitation tax, in the case of each tax
payer, the number Of thirty-dollar cou-
pons that can be used is about as fol-
lows: There are, in number, only
1905 persons who pay over s25 taxes
ayear. Zone fourth deducted in each
case.)
s.s2e averagingsi4 Csss) coupon
each ACKNOWLEDGEMENTS. S67,ISO
1855 averaging $50 each $500
coupon each. ................ 76.050
SIS averaging $40 $500 2 cou-
pons each -.........-.......... o2,oeO
III avenging s24o (siso) cou-
pons each-....................... 26,ooO
% syenging $3.50 (s2ao) 7cou- ,o
pons esch~...................-..". 13,}4O
SSavefaging s440 $3.50 To- ou-
pons tasn 90 q ] i'''o'
pOns eacn.................. ....'''' Sc'ooV
s25s,soo
These estimates are liberal to the
bondholders. What is to be done with
the other s454,050 thirty-dollar cou-
pons? Or add 100000 more to our
estimate, and tell US what is to become
Of the eS54,0 $50 Of thirty-dollar coupons
which nobody can pay into the Treasu-
rys What would be the price Of these
coupons to-day il the bondholders and
the spectators in coupons knew the
facts set forth in the Second Auditors
letter Of Sunday last? What would
coupons be worth which nobody could
ussg We hope the Second Auditor
viii take our estimate IS above and
correct il by the official docum nts, and
give the true figures to the world. We
regret that they are not in the Cover
uor's excellent proclamation.
-
Not for Distribution.
Tbo National ReDnbIican saws.