The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-21
TAX REFORM TO
COME BY DEGREES
Member of House Believes
Sweeping Reform Measure
Doomed to Defeat.
K EEsEE HEADS BANKERS
Elected President of Richmond
Chapter, American Institute,
at Annual Meeting.

There is only ono way to secure
tax reform from the next legislature.
said Hill Montague. addressing the
Richmond Chapter OF tho American
Institute OF Banking, AT the Jefferson
Hotel last night. when the General
Assembly meets. call together ten or
twelve representative delegates from
widely separated points in the State
and let them frame q tax reform bill
to which they will give their unitea
support through tho session. l believe
that Is the most practical way to Sc
cure the passage OF remedial rnca-
sure"
Mr.. Montague. who has been one OF
Nichinond's representatives In the
lower house for several terms, de-
tailed the difficulties that have so far
beset every attempt TO transfer tho
taxing authority from the county
commissioners OF the revenue. Nhere
II now resides. to central state
body. The same opposition, he said
VIII develop anew. a sweep!ng tax
reform bill. he said. will DO doomed
from the start. The practical thing to
do is TO secure the passnge of mild
reform measure. and to improve upon
1t at succeeding sessions.
DnnIk Stock. the Cont.
The speaker departed from his an
nouned. subject, Legislation Affecting
Banks TO discuss what he said.
might BIO regarded AS q depression. but
what was, in reality. the same thing
equalization of taxes. Under the
present system. he said, bank stock in
the hands Of shareholders Is tho only
tangible personal property in virginia
that is taxed at it's fun value Re
forms are needed. he said. which shall
remove the discrimination against this
form OF Investment.
Mr.. Montague designated the pres
ent taxing system as abominabie. and
thought the time was ripe for reform.
1t was time, he said. for Virginia 70
stop Boosting or its glorious past and
OF its achievements in history. and TO
give attention TO a tax situation which
is among the four worst among the
States OF the Union.
The remedy. he thought, lies in the
creation OF n State commission or
commissioner vested with power to
supervise and amend Assessment rolls
returned By tho county comm ssion-
ers OF the revenue. with the idea OF
equal!zing. as far as possible. the as
sessment on the same subjects.
Matter Needs Agitntion.
President II. \. Phillips. OF the Broad
way National Bank. subscribed to the
general indictment of tho Virginia tax
laws. The only hope of relief, he
thought was continuous agitation.
Stockholders and officers OF country
banks. he said, representing as they do
the most influential and progressive
people OF the county, could do val
liable service In this respect by i'm
pressing upon their delegates 10 the
General Assembly the injustice OF the
present system and the need for reform.
George Bryan. attorney for the Viz
ginia Bankers Association. addressed
y. l..
gotiable Instruments. IT was the third
institute by Mr.. Bryan on this subject.
Keesee Is President.
The speaking program WAS followed
by the annual election. the balloting
resulting rs follows: George II. Keesce.
president; William Goddard. vice presi-
dent: Jesse Wood. secretary, and @. S.
Barnard. treasurer. The four major
officers just named, with the following,
who were elected last night, constitute
the new board OF governors: II. @.
Proctor. II. {. Golfer. l. T.. Terrell, J. NJ.
Ball, Jr.. and Clinton L. Williams.
Balloting for nine delegates to the
national convention of the America n
Institute OF Banking. which Will be
held in Richmond next September. re-
suited in the election of III. G. Proctor,
G. l.. Williams, II. l.. Gordon, d. Z.
Mountcastle, L. l.. Word. j. c. White.
=. x Parker. w. w. billiard and s.. r.
Watt. George II. keesee will be dele
gate at large. II. y. Phillips C. V.
Slack burn and H. +. Talbot were
elected alternates.