Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-12-02
Dangerous Ground.

The Petersburg index-Appeoi, in reiOic-
ing over the fact that several thousand dol
lars worth Of coupons were used this year
In that city IN The payment OF taxes, says:
alt will also be well TO note the Sgniti-
cant fact that coupons were used not only
by rich taxpayers, but also by taxpayers In
moderate circumstances. Coupons OF the
denominations OF $3.50 and 80 were taken
az rapidly IS they were offered by small
tax.psyers. In this city three separate sup
plies were furnished aud 80 speedily ex-
hausted that nothing less than s15 coupon
could be bad yesterday morning."
Our contemporary treads on dangerous
ground. II will be sorry to learn that the
whole number OF three-dollar coupons ma.
turing annually Is only 4,1sS, OF the value
Of sl2, 564, and the number Of one-doIlar-
and-a-half coupons maturing annually is
only 1904, OF the value OF s3,996. so that
n all OF both kinds were used and only one
were used by any one man, less than seven
thousand tsx-psyers-not as many as there
are in this city alone-could be accommo.
dated with such coupons. The sccumula'
lions Of four years could OF course only ip-
crease the number OF such coupons TO
number four times as great.
It's clear case then that II our Petersburg
contemporary should succeed In inducing
the Legislature Of Virginia to agree 10 re-
ceiye coupons for taxes but few OF the per.
sons paving three dollars or less OF taxes
would get the benefit Of the coupons. IL
the scbool-tax cannot bcpaid in coupons, as
the supreme Court Of Appeals, in deci-
sion which the Attorney General says Is UNI
reversed, has declared TO be the law OF Vir-
GINA, then the number OF the taxpayers
who could pay In coupons would be
small indeed compared with the num-
Der who could not Use them. The
thousands and tens OF thousands OF
persons who pay no tax except
the cspltation tax would also have TO pay
their taxes in full in money. Our Peters
burg contemporary, therefore, in exultlng
because, as it supposed, men In moderate
circumstances had used coupons in paying
their taxes has done so under misappre-
hension Of the facts OF the case. We at
lesst do not wonder that "nothing less
than $40 coupon could be had on Tues.
day morning."
Why not! Because there are only 1,340
coupons of the value Of $3.50 each maturing
annually So that the fact is that there are
not small! coupons enough maturing an.
nusIly to enable the small taxpayers even
In Richmond and Petersburg to pay their
taxes in coupons.
The whole number OF tax-receivable cou-
pons Of all soIts maturing annually Is only
1887. The number Of ;ithables is over
$4,000. Are the 1000 who cannot posi-
bly, use coupons going TO vote to let the 5O,-
600 use them;
The facts hereinbeiore stated have often
been brought out; but the papers lose
sight Of them. These facts show that the
problem under consideration Is most COM
plieated one. Bot let nobody despair. The
bondhoders already see and concede that
the rate OF interest must be reduced TO 3
per cent. Now, let them surrender the
receiyability OF the coupons for taxes, and
tell the people OF Virginia how much of the
principal they are willing to deduct.