The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-20
STUART LOSES;
MANN WINS
Governor>Elect's Amendment
Rejected but Fight Will Be
Carried by Friends to Floor
of House for Twenty-Five
Instead of Committees Ten
Cent Tax on Deposits in
Banks.

Friends of GOveruor-elect stuart are
already lining up to defeat the Weaver
emergency bill, amended by the house
finance committee, to raise tax on
bank deposits from two cents on the
S10o 10 ten cents on the 800, when
that measure is reported this after
noon in the house of delegates, The
fight will be carried TO the floor of the
house and 1t is said will be one Of the
hottest fight ever precipitated In that
body.
The line has been distinctly drawn.
Governor Stuart declared that he was
not for the bill! as 1t stood. while
Governor Mann Endorsed it. The line
up has been taken and II Will be de-
feated as an emgency bill. A. @.
Weaver, chairman of the finance COM
mittee and author of the bill, stated
that he was thoroughly satisfied with
the amendment to his measure. and
that every effort would be made to
put 1t through as an emergency act.
It requires a four-fifth vote to pass
an emergency bill and 1t Is conceded
that the bill will be defeated. but 1t Ia
widely circulated that should this hap
pen the emergency clause will be
struck out and the bill again be put
before the house for consideration. In
the executive session a substitute bill
was offered by Mr.. Jordan. of Pulaski.
the biif-tfat Governor Stuart,
endorsed. but 1t was rejected.
The finance committee went into
executive session at $50 o'clock and
report on the bill was not heard
from until after 10 o'clock last night.
1t is said the fight was a warm one and
it was not until the amendment was
offered that any agreement could be
reached According to those in close
touch with the situation, the fight has
not begun and it promises to tie UP
legislation for some time.
A hot fight was preeipated on the
floor of the meeting of the houss
finance committee. which was holding
an open session on the Weaver hank
deposit tax. when Governor-elecl
Stuart and Delegates Hugh White and
Judge Martin Williams lined UP
against the measure. and Governor
Mann. a large delegation of bankers
and the committee. almost to man
on the other side.
From the hours of 0 OIL ,ck in the
morning until nearly midnight tho
wrangle continued. even more bitterly
after the doors we're closed In execu-
tive session about 80 o'clock.
The situation is one of ..ie mozr
dramatic in the history o. Virginia
politics, with the incoming governor
taking the reins of government out OF
the hands OF the retiring executive and
the latter holding fast to his own.
With the appearance of Governor
Mann on the floor OF the committee
meeting. which was held in the court
room OF the State corporation COM
mission, a precedent set by every gov
ernor that has held the ONCE. was
smashed and Governor Mann was put
on record as following In the foot
steps OF President Woodrow Wilson,
in his belief that. the relations be-
tween the executive and the legisia-
ture should be personal.
Bankers For Weaver Bill.
A large gathering of the most
notable and influential bankers OF tho
State were present at the hearing and
in almost one voice. asked for the
Weaver measure. which practically
exempts from taxation bank deposits
Late in the afternoon the fight waxed
warm and personalities were ex-s
changed On the other side, Messrs.
White and Williams declared the pas
sage Of the law would be the great
est farce the legislature could commit:
that II was only another move OF tho
rich and declared tina tshouid II Be
passed il would create a monopoly OF
the Virginia money market, the very
thing that President Wilson has sue
ceeded in smashing in Wall Street.
The Weaver bill was introduced ~
an emergency bill to stay as much ~
possible the sentiment Of the people
and keep them from withdrawing
their money from the banks Of the
State In their effort to dodge the
heavy taxation now assessed against
Intangible property: The bill provides
for a reduction from IS cents on the
500 State tax and $40 local tax, IA
two cents on the $i00 state tax and
the abolition of the local tax
This sweeping reduction il favoftd
by practically every banker Of the
State and has the approval Of thA
Bankers association. Governor AAMU
who has been making = study d IT,:
tax question since hIs fndnctlCn lN1H
ONCE four years ago. Also faT0re4 eNff
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