The Daily times. [volume] (Richmond, Va.) 1886-1889, 1886-12-03
urAR.BOTH SIDES.


tirely misleading. For 1t to be said' ior
instance, as the Dispatch stated yesterday
that in Lynchburg s23,OO4.56 were ten
dered in coupons for the year ending NO
yember 80, 1885, while only $4,000 were
rendered there for the year ending NO
vember 80, 1886, would unavoidably make
the impression on mind not well IN
formed on the subject that the use OF cou-
mons was falling off in Lynchburg-that
il that there was arising there disincll-
nation to use coupons. Yet nothing could
be wider of the mark. A little explana-
ton is necessary to make this matter un'
derstood When the Malone party came
into mower one of their first acts was the
massage of what is known as coupon
Killer No. f." This act provided that
when any person wished to pay his taxes
in coupons he should pay them in money,
deliver his coupons to the court, and II
iury should find them genuine coupons
his money should be returned to him and
his coupons put into the treasury in place
of the money. OF course, the idea OF this
was that the proceeding was so burden
some and vexatious that no one would
use the coupons.
But. as with many other human calcu-
lations. the deyisers of this scheme were
disappointed. Coupons became greatly
depressed in value in consequence OF this
act, and lawyers saw there was money to
be made by dividing with the taxpayers
the difference between the market value
Of the coupon and its face value, when
that sum was returned A brisk business
soon sprung up in many quarters OF THIS
State. and taxpayers in abundance were
found willing to make their share OF the
percentage, aud lawyers in abundance
willing TO make their share of it. The
business went on developing, as conil-
dence in the method of procedure began
to grow, until by November, 1888, very
sum was offered under the
provisions Of Coupon-Killer No that
is. the tax was paid in money and the
coupons delivered for Identification and
notification. But before the courts
could take these cases up and have juries
TO pass upon the genuineness of the cou-
pons the Legislature passed an act pro-
viding that no expert testimony should
be used to prove the genuineness OF the
and all persons desiring to
prove them should produce the bonds
from which they came. AS the coupons
had been bought in the open market, de-
tached from the bonds, the holders could
not. of course, prodGce the bonds; and,
as the coupons are unpaid, not signed,
they could not be proved by any other
than the testimony of experts. This SIM
ply made it impossible to prove the genu-
ineness of coupons, and ended all pro-
ceedings under CouponKiller No. /. 1t
is an error, therefore, to say that a certain
sum was paid last year in coupons. Moth
ing was paid in coupons last year. An
effort was made to do this, but the Legis
lature effectually blocked the game.
About the time this blocking of the
game became effectual, the Supreme
Court of the United States settled the
law to be that a tender of coupons paid
the tax-that a treasurer who levied for
taxes after such tender was trespasser,
and that the taxpayer might sue that
treasurer for damages in the United
States Court, although the tax-bill was no
more than So. Last spring number OF
taxpayers availed themselves of the
privileges these decisions conferred upon
them and rendered coupons and refused
to pay anything else. Rash treasurers
levied upon and sold the property Of
ffty-three of these and were promptly
sued for damages in the United States
Court and each sutton was awarded his
damages and costs during the early part
of this fall. These facts aroused public
attention, and it began to be seen
that coupons were just as available
for paying taxes as gOld or silver
coin. The treasurers generally began to
announce that they would not take the
risk of levying after tender of coupons
and taxpayers began to have confidence
in the statement that a real and substan-
tial protection would be furnished them
if they rendered coupons. The conse-
-..o..oo l. tLnt M INV 1nnrsnnS q wing Ia Yes