The free lance. (Fredericksburg, Va.) 1885-1926, 1899-09-09
Hon. W. T. Wiokham on the Financial
Condition Of the State.
Richmond, Va. August 30, ls9

hlcnmOnu, va, AuButl oV' lo'''
To the Editor of the Dispatch:
see in this mornings Issue the fol-
lowing statement;
A speech by Hon Henry 4. Wick
ham in the Virginia Senate near the
close of the session Of 1897. %. in which
he predicted that an increase In real
estate taxation in 1901 would probably
be necessary. attracted attention at the
time. and probably has had much TO
do with creating the very general inn
preston that tax burdens are t. become
heavier. "
/ made no such prediction. lam net
aware that there exists any general i'm
preston that tax burdens are 10 become
heavier. Certainly no such impression
could have been created by me.
The Finance Committee ut the Sen
ate directed me to submit their report
on Bill No. 5ll. appropriating tn pub
lie revenues for the fiscal years ending
respectively on the 3Oth Of September,
1898, and on the S0lh of September,
1899. AS explanatory Of this report.
which | made on February 10, 1888. /
wrote out at length the remarks | pro-
posed 10 make. so that | am able to
produce exactly what | did say, for
contrary to my usual custom, read the
manuscript TO the Senate. The Senate
did me the honor TO cause To be printed
the full text Of my remarks and the
tables submitted by me in reporting
from the Finance Committee, copy
Of which l herewith enclose. the sub.
stance Of which was published IN your
issue Of February 20, 1898
| not only made no prediction that
an increase In real estate taxation
woul1 be necessary in 1901. but | re-
specially submit that / showed by the
careful resume Of receipts and dis
bursements and estimated revenues and
expenses which presented, that the
State of Virginia was easy in It's finan-
oial condition. that 1t was not IN any
financial stress, and urged the duty
resting upon the Legislature to give
relief to the people who had sent them
there. especially the great agricultural
portion Of our State, and pointed cut
where and in what manner / thought
that relief could be given. So far from
predicting any increase In taxation,
ventured 20 show how, In my opinion
at least. reduction might be made,
and concluded my remarks with these
words:
% submit, therefore, that now hag-
ing reviewed in detail the whole situa-
tion, knowing thoroughly your sources
Of revenue and zee Jgnizing the demands
made upon you for appropriations 1t
becomes your duty to address yourselves
seriously to the question Of responding
to the cry that comes from the agricul-
tural people Of this State to tighten
their burdens.
But, tell you, however, that the
people demand that you take care Of
the Confederate veterans, and | do tell
you that they demand that you make
such reductions in these other particu-
lars as will cut of any unnecessary ex-
penditure, which II may be you can
safely do, and which reductions, taken
in connection with your increased re-
ceipts from the sources | have indi-
Gated and the great reduction which
we hope will follow from the legisla-
ton you are enacting in regard to
criminal expenses, will enable the peo-
pie when they come to pass upon these
constitutional questions to so reorgan-
ize their government that they may
speedily receive a substantial reduction
in their burdens, whether that reduc-
ton be ia the shape Of a direct reduc-
tion Of the rate Of State taxation from
40 to 81 or 80 cents. or whether it be in
the reduced values Of real estate which
we think will take place in 1900.
l used this language after / had
shown that the Legislature could see
its way with perfect clearness to July,
1905, before there was the slightest
danger Of a default, and that then they
would still have an asset amounting |
upon a capitalization at per cent. to
5000, 900 available for the purpose Of |
meeting the interest charges.
l think the public should know that
the financial condition Of the State Of |
Virginia rests upon a solid and firm
foundation, and that there is not the |
slightest necessity for or possibility Of,
imposing any further burdens upon the
people Of this State, and that any agi-
tation of this subject is worse than USE
less.
Il is perfectly evident that if any
general impression that tax burdens
ire to become heavier " exists, this
des is spread by men who are totally
as to the true situation.
Very respectfully.
II. I, Wickham.
Bismarck's Iron Never