Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-30

merchant or manufacturer, and taxed I'M
der chapter Of this act. shall be In
Guided in this section"
In the same way, by other sections,
manufacturers are assessed upon their
capital invested, and building and loan as
soclations pay specific license tax
graduated according to the amount OF
paid-up or partially paid-up stock, and
the payment of such taxes relieves the
manufacturer and the association from
the duty Of listing its securities, or pay
ing any other State tax, except upon its
real estate.
Having thus shown how and why, under
certain specific sections of our tax law,
these four classes of taxpayers are not
required to list for taxation their bonds,
notes. stocks, and evidences Of debt, let
us consider for a moment the provisions
of the Parks bill. AS heretofore pointed
out, this bill amends the first subdivision
Of section 8, chapter 1, Of the general tax
law-and that section only. By the pro-
visions Of that section (Which has peen
the law in Virginia. ever since the 6tn OF
March. 1890, every taxpayer in the state
was required each year ito exhibit and
make oath to a statement in the aggre-
gate of all bonds, notes, and other evil
dences of debt due and payable to such
nersons in excess of 500; the amount or
such bonds notes, and other evidences
of debt under 800 each to be given in
under oath in the aggregate, the solvency
of which. in cases Of doubt, as we'll as the
value thereof. shall be determined by the
said Commissioner, which said list shaii
be signed by the Commissioner ana the
Taxpayer. including bonds due from rail-
road and canal companies; bonds OF couh-
ties. cities. and towns; and bonds OF other
tfnpc. demands ana
claims. however evidenced, owing Oh
coming to such person, whether due or
not from debtors residing out or WITHIN
the state or country, whether secured py
deed of trust of judgment or not; deduct
ing from the aggregate amount thereol
Ali such bonds, demands, or claims not
otherwise deducted, owing to others from
euch person as principal debtor, and NOT
as guarantor, endorser, or surety.
THE PENALTY.
Tho law further provided that II any
+ax-naver with view to evading the
navment of taxes, fail or refuse TO give
=. - +ba commissioner a statement OF the
aosreqate of any bonds, notes, claims. or
other evidences Of debt which are subject
~ assessment and taxation, under cnapter
OF this act the same shall not De
coverable by action at law or sun III
enuItv before any Of the courts Oh TINS
commonwealth, legal process or sa'e un.
der deed of trust, until they nave peei
ronortad for assessment and the TAX paiu
.,.pDao,, nth an addition of 80 per centum
aar onnum from the time the tax ac-
rrned. and a failure to give in the aggre-
,ate NJ such bonds, notes, claims &C.
shor he taken as prima facie evidence VI
tis Intention to SO evade the payment Oh
taxes" IL, .ho,v what
- hoan tba law with reference 10 the
taxation of bonds, notes, stocks, anu
80. evidences OF debt since the otn Oh
fa~ch 1900. This is the section OF our
tax law which the Parks bill amenueu'
and the amendment is as tolio"s' me
nroyision Of the section ABOVE quo'e
which requires the taxpayer 10 iuinss.
tha commissioner a statement, uhoe,
9th "of the aggregate value OF All
hor6s notes. and other evidences VI
Seht " has been stricken out, and the tax
,,a,,sr ,s required TO furnish the Cominis-
rsr.,or 80 list In detail Of the GATE,
a.an,,r+ for which originally given tput
90. nc name Of the debtor); the dates anu
a,oounts of the credits thereon, the pa,
a..oa d,,e and the time of payment OF an
80. notes. stocks, and other evidences
o ~ ~. &C." And the act further pro-
vjdes that this list ana staten.en' snas
he signed and sworn to by the tax-payer
before the Commissioners Oh tne nee ersnn
ar some notary public or other peiso,
o y, so 10 administer oaths. who shall
certify that such list was signed ana ~
ce.sas % before him. The Commissioner
swJin s ~ the list and determine the value
OF ofI the Bonds, notes claims and other em-
dences Of debt therein enume a,et,on SUI" 70
80. - a. onneal from his Valuation 10
zee: 3sce ~ ~ or corporation court"
. aThe list and statement herein provided .1,s
co. : ne sha ali be delivered by said Commits
snrn,,ou court OF his county or city. who
Shall iIe the same in his office s. properly Ssay
labelled, keeping the list LOT eae racsed ds
separate" The PARKS o, III 'n svistinr law.
~. ~ - The Taxpayer shall fall to make
out and deliver under oath such hss sno