Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-16
BOND-LISTING BILL.
C8xTAIN PARKS THINKS TT A
GREAT REVENUE GETTER,
WILL REACH INVISIBLE PROPERTY
The Author of the Measure Thfnk.
Ii VIII Cnuse the Payment of Taxe.
hitherto Almost UnfversaIlv
Evadcd-fiis Views mt Length.

Captain r. S. Parks, the Delegate from
Page and Rappahannock counties, is be.
ing heartily congratulated upon the paa.
sage OF the Parks bill, which provldey
for the listing OF bonds. notes. and othe,
securities for assessment and taxation
To some questions asked by a Dispatch
reporter, Captain Parks said: Il a.,
gratiheG at the success that has croune.
my efforts. know. and every man who
thinks at all knows, that the amount OF
TINS class Of property that escapes taxa.
ton in the State OF Virginia runs I'd into
millions. The State of Virginia canno,
afford to make default In the pavroeo,
OF interest on her public debt. and thu
people can stand no higher rate Of tara.
ton. 1t is condition, not a theory,
that confronts the Legislature. I helie,a
that the proper and fair execution OF tba
law will bring thousands, I might say
hundreds OF thousands. OF dollars into
the State Treasury without increasing
the rate Of taxation. and this result will
be reached by making each class %
property bear It's just proportion Of the
burdens OF government
TWO KINDS OF PROPERTY.
There are but two kinds OF property.
Visible property. as land, houses &C.
and Invisible property such az stocks.
bonds, and moneys. II the ffzf kind
Is not taxed, IL is the fault OF tho asses.
sor; faithful efficient officer will dis-
cover and place upon his books syerv
Item or this class OF property. The dir
Guilty is with the invisible.
This law proposes 20 compel each ana
every item Of invisible property 10 pav
its proportion OF the taxes II Il fopv
to say that invisible property will dodQo
the assessor, no matter how stringent
we make the law. Those who speak
thus simply assert that those who choose
TO disobey the laws OF the State may
and VIII do so with impunity; they as
sert, In effect, that the government IS
helpless to execute the public will and
that the owners OF visible property. such
as land, houses, cattle, farming imple-
ments, &C., must carry not only the load
which properly belongs 10 them, but they
must also carry the load that ought 10
be borne by the holders OF invisible pro-
perty, such as stocks bonds, money. ana
other securities.
THE OLD LAW EVADED.
Though the law for years provided
that invisible property should be taxed"
continued Captain Parks, "at present an
the taxes from that class OF property
como from a few conscientious citizens.
from widows, executors. and from guar
Hans Of the insane and infants; In fact.
L is rare thing to find a shrewd trader
who gives in any considerable amount
Of notes, stocks. or money. The truth
8. things have come 10 such a pass that
~ regards paying taxes on this class OF
property. II is almost as voluntary and
s considered pretty much IN the same
light as donations TO a neighborh0od
hurch or Sunday school. ! could have
prepared a bill that would have been
more drastic. but I believe the people ot
he state recognizing the necessity %
he case, and the absolute justice and
airness Of the demand will do their duty
y the old Commonwealth.
Rest assured" Captain Parks con-
luded, that the means have not been exc
austed. and IL the law Just enacted does
ct prove effective. the masses OF the
eople are not In the humor 20 he trifed
nth, and a law will be made that will
leet the necessities OF the case. that
hose who seek TO evade bearing their
art OF the burdens OF government may
)rce 70 an issue"