Daily press. [volume] (Newport News, Va.) 1896-current, 1910-08-02
OUR TAX SYSTEM
. RELIC OF OLD TIMES
fContinued from seconJ Page.)

ton of being the only city In the coun
try. so far as | am informed. that has
met and retired bond Issue OF CON
siderable proportions out OF IT'S ordl-
nary revenues. Ii speaks well Tor inc
government of our city ard the spirit
which pervades the body OF the peo-
Die. We have nested a very snug sum
| in the shape OF sinking fund TO
meet an issue of binds maturing In
1928. originally sold to construct our
sanitary sewer system. modern JAIL
building. and the erection of the first
three public school buildings erected
n the city.
THE finance committee has adopted
what seems TO me to be wise policy
N having recently invested portion
of this sinking fund in the bonds OF
the city. thereby insuring a good re-
turn on the investment and demon
grating the fact that we are able 10
play the part of debtor and creditor
AT the same time. I think if this
,,olicy should be pursued in the future
il would be of great benefit in many
ways.
You will note that the income from
license taxes is a very considerable
proportion of the entire revenue of
The CITY. Much out of proportion,
think. to the other revenues in
amount, notably as compared to the
amout derived from real estate taxes.
II will be seen that license taxes are
more than 80 per cent Of the gross
amount derived from taxes on real
property This suggests to my mind
the inequalities of our entire tax
system and calls loudly for some re-
form. The income from personal
property is ridicuiously smTl and
serves to emphasize the need for q
comrlete change in our system of per-
snnSl taxation (is il is to be retained
~ alI). As at present administered
| il is an imposition on a few and A
stumbling block to great number of
otherwise stalwart men in this com
monweaith. The whole system should
/ be changed through legislative enact
ment. my own view virtually Is tha.
of the single taxer."
Il believe that real property and
income derived from sources other
than real estate should constitute
the basis for TAXATION The idea Of
an annual assessment Of delapidatei
household furniture 5edste3dS. and
broken chairs and pianos that are out
OF fgnc as a basis for revenue Ought
10 be eliminated from the calcuis
iions Of the excise officer % the
future. We are living in a progres-
sive axe and relics 81 bygone days
should receive the camphor bali treat
nent and nc laid to rest The idea
r. paying taxes on the mcagre furni-
shines % The Dcor mans homo. the
COT on which his children sleep. - no
lexs contrary 10 his sense % justice
than IL Is = tribute TO his sovereign
sense 81 Independence. in that he
should br allowed To give 10 those
dependent upon him whatever com
forts be may. and even those
Injuries which tend TO cultivate the
tastes and elevate the minds ~ the
mon and women ~ The future. with
ont being taxed Tor fhc pri>sicep All
1btor the syicm- Why should w.
preserve ~ " The corrcil ~ thr
city ~ Newport News should memoir
isliz.. The legislature wifh = view 90
Changing our present cumbersome.
unsatisfactory and unfrui,ful system
of perennial taxation q would perform
ruific service or The FIRST naEnt
s7ifc.
y think 10 j. - b. regretted that
ne council did M chanrc the plan
heretofore IN eject n criiccting the