The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-27
THE REASONS ron THE EMER-
EENCN

I
rcal sentiment OF the House. tho mem
hers voted to TX tho rate at 20 cents
and TO continue the present method OF
assessment.
We congratulate the House on the
foresight and good Judgment shown In
this action. and would now only urge
upon the members the Importance of
n four-Gfths vote.
In the wording OF tho bill, an emer-
Goncy exists. This is created. not by
the danger of Il disastrous panic. but
by the subtle effect of this widespread
agitation on the public mind. Some
Investors are alarmed. and host of
OF our tax laws has been advertised
10 every citizen, and the determination
OF the Auditor to enforce tho law Is
fully appreciated. Men who have
never given this section OF the tax
code thought--men who felt them
. selves justified In evading the tax
have come TO see that the Auditor or
Public Accounts demands either the
/ enforcement or the repeal of the stat
utc. With that strange concern men
show In matters financial. many de-
positors, we believe. are determined to
/ rcmovo their holdings from tho reach
| Of the tax collectors
Aud they have found Il way OF doing
/ this. thanks to tho splendid publicity
/ given tho laws Of Maryland and of
! the District of Columbia during tho
present discussion. Tho average man
/ in Virginia and still less about the
/ tax laws of other States. But now
that he finds the District OF Columbia
makes no effort to tax money In bank,
ne can DO a little figuring and draw
his own conclusions. lie estimates that
on $4,000 In bank in Richmond-S1o,-
! GOO which the Auditor intends to tax
ne must pay s116 to the state and city,
or more than one half Of his per cent
interest So much money saved IS so
much made. The man may accordingly
withdraw his deposit from a Richmond
/ soning that the Auditor stands less
! chance of finding 1t there than In Vir-
! Einin. And IT, In doing this, tho tax
| payer must sign false tax interroga-
! tory he Will do so with less hesitation
rs the chances OF detection are dimin-
/ ishcd.
This OF itself constitutes an cmer-
yency But bad conditions arc made
worse by the fact that the presen,
dodgers can dodge still, while the pres
! ent sufferers viii suffer as OF old. In
case tho Weaver bill is not passed
The shrewd business man can slip
! his money into n Washington bank
and salve his conscience; but the widow
| whose trust funds arc in the hands of
the court and tho orphan who has a
guardian ut law, cannot escape. II
their funds are removed from II Vir-
they gain nothing-thc executor must
make true report TO tho examiner
of records and pay the full taxes TO
the cent.
All OF this will not prcclpitate a
panic. But Il VIII require the bank
TO call many outstanding loans TO meet
Withdrawals, and 1t will mean the per-
mnncnt removal from Virginia OF that
very property which Is most needed
that money now loaned by the banks
on commercial paper. And If this does
not constitute an emergency worthy
OF the attention of the Assembly. then
there IS no such thing as an emer-
sency!
There is one final argument which
has not been given the prominence
II deserves In the discussion. This is the
salutary effect OF proper reduction
on the people of the State. For a
\ generation our citizens have waited
for relief; for a decade the dull muir
muir of their discomfort has been
echoed in the press; for four years
they have been demanding action at
the hands OF the Assembly Now comes
OBSERVATION-DISCLOSURES to relieve
those most heavily burdened. oppor-
tunity to aid in the upbuilding OF Viz
gini;l, opportunity TO establish vital
economic principle AS Mr.. Field point-
ca out In his speech yesterday. tho
principle involved is one Of taxing tho
commodity which makes trade posi-
Die and business easy If the people
are convinced that tho Assembly really
means to reform the tax laws, the
simple assurance will be worth more
thaH the loss of revenue
There has been concession ana com
promise. despite useless chickering's ana
needless personalities Cannot thorc
be one last effort to-day? Unite
members of the House, ana write this
; morning across the tax code of Wiz
! sinia this one word--fIoncst.
While Uncle SANS bureau OF edu.
cation IS searching for variants of
"bonnie barbara Alien" and THE Ber.
gar Lnddie' ana other old ballads the
chronic vaudeville patron is wonderin.