The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-15

We are aware of the fact that our
work has not begun TO cover all of
the Inadequate returns but 1t was i'm
possible for business men to give the
time required for so great work un-
less they entirely neglected their own
affairs. We believe that there are still
many people in this community who
are yet avoiding their just proportion
of taxation, but it 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 20 per cent of the net
rex enue of the whole State. and the
additions made by this jury CORE
spondingly increase this proportion.
6 per cent of the population of the
state, pays more than 20 per cent of
the net State revenue.
We feel that this grand jury, having
earnestly and cOnSclentiously endcay-
orcd To do its sworn duty in trying to
bring to light all the hidden taxable
values possible. that the following sug
gestions as to changes i'm the laws arc
entitled to just and serious consider
alton by those whose business 1t is to
make our tax laws.
Tax Laws Inadequate.
We have found the tax laws of the
State vague in their meaning and in
some parts apparently impossible OF
intelligent construction. The success
sivc Legislatures seem to have created
at random new subjects for taxation,
giving little thought to any business
like assessment or collection OF taxes
on those subjects already created.
The personal property interrogator
appears filed with numbers of incon
siderable subjects of taxation which
would seemingly be better left out.
These things produce little or no revc-
nue. and serve to bolittle and cloud
the main Intent OF the interrogat DRY.
books and pictures, tools and me-
chanics. watches, clocks, melodcons.
harps. shot guns, rifles, muskets, bowie
knives. dirks. sewing machines and
numbers of such other articles too
numerous to mention.
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 invites
deception. We believe that not over
10 per cent of this property is found
or ever will be found except from trust
and court funds. This tax falls prin-
cipally on widows and orphans and
other defenseless persons. 1t destroys
the market for bonds i'll the State and
sends money out of the State for in
vestment in securities. 1t serves as
an excuse to keep the interest rate VI
on farm mortgages and other secured
loans. and as a rule the notes are hid
den from the commissioners or sent
out OF the State to cvade the tax
Abolished Elsewhere.
This law serves as a hardship on
the borrower and brings little revenue
to the State. 1t has long ago beer
abolished in those States known RE
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 or
mortgages tax OF one-half of l. pei
OF the face of the mortgage, col.
lected by the clerk Of the court, when
the mortgage or other transaction ia
recordeu, and no further tax eyor to be
| collected. These laws appear to be
clear, concise, automatic in operation
and apparently almost impossible OF
evasion. They would undoubtedly bring
to life enormous quantities Of intan.
gible personal property not now found
and ut the same time lower the inter.