Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-11-26

"a, connaence I'm them. II Is not proba-
| bic that they will have hereafter 'neic
| IS 10 DO In the future any uncertainty aS
| TO tho ratio OF taxation. II Is to the IN
| terost Of the city that confidence snoui"
ho established IN the securities Oh mos
| enterprises that from their nature i'i IA
an essential part OF the munieipai Vi
ganization.
CITY WILL BE HURT
Next the city win be hurt in anothe"
way by the method suggested by inc
street Committee. With such uHO'l .a'ii-
ties the company will not know "H"l 80 -
pcnditures TO make. JUS hatu'" ....
will be TO save IN every possible manner
against future contingencies - -
forceec. That necessarily means tha1 NC
ecrvice ronst be curtailcd OF All bettci-
ments not absolutely required anu 'ne
tendency will be down grade. company
feciing safe as to it's future woui1 DC
frea 10 follow n more liberal course Nor
would a company. feeling uncertain %
90 dc future. seek 10 make any extensions
evcent such as would Immediately pa!
Y,r Tho investments With such uhcer
taintv the company would be hampeieu
I'm every way. and necessarily the CT
would suffer more than she couiu H'dNo
up In increased taxation.
As a business proposition, ] must say
that 1 think n man had better Know
what he has to meet than to nave me
management and extension Of MS Dusl-
noss bampcred and curtailed by the fear
OF some future danger.
COMMITTEES PROPOSITION
ONEROUs.
With all respect for the gentlemen Of
the Finance Committee. l think that they
have proposed 10 put conditions upon us
that are extremely onerOus. and which.
IL imposed. must necessarily diminish our
future usefulness. ] am inclined 20 think
from subsequent developments that the
gentlemen Of that committee did not
have put before them fairly comparison
between the taxes now borne by the
Traction Company and those borne by the
street railways Of certain other cities
referred TO as justfying an increased
taxation. 1 propose hereafter 20 submit
10 those gentlemen correct Information
as 10 those very cities. which Will show
that the action Of those cities does not
Justify the proposed increase.
cot course. / am not TO be blind to the
fact that some increase seems 10 be de-
fermincd upon. with due regard for the
opinion Of others still think that any
proposed increase at this time, in the
light of the revenues and expenses OF the
Traction Company. is not just TO us. But
do not propose TO fight the inevitable.
There only remains for me 10 ask that
the increase be as moderate as possible,
and that a plan be adopted which. while
giving 10 the city the opportunity 10
share in an increasing ratio in any
growth Of our revenues, will not fix upon
us al a set time an increased taxation
whether our revenues and resources have
grown or not sufficiently TO justify any
increase.
4 MIDDLE COURSE SUGGESTED.
"Inasmuch as the COMMITTEES seems de-
termined to put a tax Oe $40 on the as
sessed valuation. and inasmuch as i'm the
opinion Of the City Attorney this APP
poars to be a necessity it seems 10 Ire
that a fair method of taxing Us would De
AS follows First, a tax Of $40 ON the
assessed valuation and then percentage
~ our gross revenues from passenger
traffic. Until such revenues shall amount
IN a certain sum. and upon the excess OF
cross earnings over that fixed sum,
larger or an additional percentage. ms
would make the growth of our burdens
as far as the percentage Of revenues goes
keen step with the increase or our means
~ meet those burdens and the city would
share in q larger ratio in such increase Oh
gross earnings