The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-25

Commonwealth that there are not less
than 1000 hliving charters under the
laws OF Virginia. which, at SD apiece,
Yields $40, 600. 1t Is estimated that the
result from the franchise tax Will not
be less than $40 per charter. which, FOR
tho 900 living charters. yields $4,000,
as estimated Apparently, therefore, for
the year ending Both September. 1904,
there should be, on conservative estl-
mates, a surplus OF s2s3,0O.
PENSION TAX.
Your committee did not recommend
amending the House bill so as to cut
or the provision imposing special tax
OF Ave cents for pensions. Should that
be done against this apparent surplus
OF $3.50, coo would come the $2o6. 3l4.4l9
shown on page 20 Of Senate document
No. 4, and inasmuch as the sentiment OF
the General Assembly seems fairly crys.
tailed against any inequality OF taxes
upon the various articles OF property
there would have to be stu further
reduction OF 10 cents on intangible per-
sonal property amounting to $50, 219.7O, or
one fourth OF the total Of 1924, S7S.S7.
shown on page 20 OF Senate document
No. 4. The two sums OF 100000 and $59,-
900 aggregate s2G5. 900. which, taken from
the $3.50, 900, would leave far too narrow
a margin for the State to do business
on, especially when you take into con-
sideration the fact that the policy out
lined In the franchise clause OF the new
Constitution initiates against the col-
lection OF capitation taxes, and that there
will be loss from capitations exceeding
$50, 900; and when you take into consid-
Grafton the operation Of what Is known
as the Henckel bill, whereby 80 per cent.
of the school money Is credited at once.
In advance OF collection to the school
fund. without any deduction for insol-
vents delinquents, or loss in collection,
1t would be exceedingly unwise to risk.
the business on such q margin.
1t will be observed that for the year
ending September 80, 1903, there is an
apparent surplus OF only So. 102. When It
Is taken into consideration that the pay
mcnt Of the railroad taxes has been.
postponed from September Both to the
1st OF December, 1t will be manifest that
between September Both and December
1st the State will have to flnancicr its
matters with great care. OF course,
these estimates are conjectural, and they
are submitted only as estimates; indeed.
only as conjcctural estimates. and no
prudent business man would base &C
ton on so delicate a matter as q States
credit upon n simple experiment, but the
part OF wisdom would seem to suggest
that we wait before making any extray-
agant appropriations until we see the
practical effect Of the revenue bill when
put In operation.
( MR.. BARKSDALDs ANnENDMENT 7. a
The first real incident of the day came
when Mr.. Barksdale offered the follow
Ing amendment to section 2:
N "Provided. that In listing tracts
and lots OF land and the improvements
thereon for taxation. the amount of
any mortgage or deed OF trust. or
Z the balance OF any amount due as the
purchase price thereof shall be de-
a Quoted from the value OF any such
X tract or lot OF land and the i'm
provements thereon. and any such
mortgage, deed OF trust. or amount
& due on the purchase price on same.
shall be listed for taxation against I
3fthe holder thereof.
Mr., Barksdnle made one of his fiery
speeches in favor OF lcssening the bur-
den OF taxation upon the agricultural
people. He said he spoke for the man
behind the pillow.
Mr., Wickham wanted to know II there
was any change in this bill from the
policy the State has pursued for a hun
drcd years.
mot one bt." replied Mr.. Barksdnle.
"bu, IL the State began wrong. estab-
.lIshed bad principle, that principle Is
wrong now and the time has como to
root It up and to do away with IT,"
y Mr., Wickham and Mr. Barksdale had
some good .natured cross-flre, and the
Hanover Senator finally let the GENTLE
man from Halifax alone. and Mr.. Barks-
dale continued to argue briefly as to the
justice of his amendment. which was
defeated by a very decided vote.
Mr.. Gold Attempted to have the act
so amended as to extend the provision
exemptlng from taxation purely mutual
insurance companies doing business in
four contiguous counties SO as to exempt
such corporations doing business In five
CONTIGUOUS counties, The amendment was
lost.
senate at 2So'clock took recess unt'l
3 P, M.
3s Afternoon Session,
There was a larger attendance OF the
Senators at the afternoon session than
there was at the morning sitting Of the
Senate.
The first real fight occurred over the
provision us to peddler's license. Mr. Ty-'
Ter made strong fight with view to
permitting a person In the county not only
to sell without a license in towns or cities
where there Is no established market
such perlshable products as might be
grown or produced upon his own pronl-
lses, but such as he might acquire from
his neighbors.
There are many people who so around
Iii their respective nelghborhoods and act
as agents between the country people