The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-02-15
Total assessments added .s6.S7s, Ali
Work Not Complete.

Work Not Complete.
We are aware of the fact that our
the inadequate returns, but IL was
impossible for business men to. give
the time required for so great q work
unless they entirely neglected their
own affairs We believe that there
: are still many people in this COM
munity who are yet avoiding their
Just proportion OF taxation. but II was
impossible for the Jury to correct all
the assessments mt one session.
The city OF Richmond. before the
above assessments were laid. was al
ready paying 255 per cent OF the net
revenue of the whole State, and the
additions made by this jury eorre-
spondingiy increases this proportion.
In other words. the capital city with
per cent OF the population or the
State pays more than 20 per cent OF
the net State revenue. We feel that
this grand jury having earnestly and
conscientiously endeavored to do Its
sworn duty in trying to bring to light
all the hidden taxable values posi-
BILE, that the following suggestions, as
70 changes In tho laws, are entitled to
: INST and serious consideration by
those whose business 1t lis to make
Laws Not InteIligible.
We have found the tax laws OF the
State vague In their meaning. and
In some parts apparently impossible
OF Intelligent construction, The sue
ccssive legislatures seem to have Gre
ated at random new subjects for tax
alton, giving little thought to any
businesslike assessment or collection
of taxes on those subjects already
created The personal property in
sterrogatory appears filled with num-
bers of inconsiderable subjects OF
taxation which would seemingly be
better left OUT These things produce
little or no revenue and serve to be-
little and cloud the main intent OF
the interrogatory. Among them
might be mentioned Books and Pic
lures" Tools of Mechanics :.
Watches" Clocks, Meiodians,'
'Harps.' ''Shotguns." Rifles. Mus
ing Machines" and numbers or such
ether articles too numerous to men
sss,sx s'sr'f ~ $1,000
- - Mortgage Tar Lxxs Eurgeds
The tax on bonds and mortgages.
and other evidences OF debt" Is often
double taxation pure and simple. and
should be abolished. 1t Is unjust and
Not over 10 per cent of this property
"a found or ever will be found except
from trust and court funds. This tax
falls principally on widows and or
phans and other defenseless persons.
il destroys the market for bonds In
the State and sends money out OF the
State for investment in securities. II
serves as an excuse to keep the In
terest rate up on farm mortgages and
other secured loans. and as rule
the notes are hidden from the COM
missions or sent out OF the State to
evade the tax.
This law serves as a hardship on
the borrower and brings little revenue
20 the State 1t has long ago been
abolished in those States known as
progressive. In the place OF this tax
we would recommend the recording
tax law and secured debt law" OF
New York and other States which
lay on mortgages a tax of ! per cent
of the face of the mortgage coli
lected by the clerk OF the court when
the mortgage or other transaction Ii
recorded and no further tax ever to
be collected. These laws appear to
be clear. concise, automatic In oper-
alton and apparently almost impos-
sible OF evasion. They would un-
doubtediy bring to light enormous
quantities of intangible personal
property not now found, and at the
same time lower the interest rates
on loans and tend to keep our money
at home. They have been immense
revenue producers in the States
which have adopted them and have
nue. than those States had gotten be-
fore from all their tangible and In
tangible personality put together. and