The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-26
With This Eliminated.
House Will Quickly
Agree on Rate. i
MONEY-TAX BILL
MAY PASS TODAY.
Governor-Elect Stuart Stands
Firm in Opposition to Non1i-
nal Rate, and Quotes Bank
ers' Circular to Sustain His
Position-W aver Fa- 1
vors Compromise. 4

Prospects of compromise settle
ment on the money tax question that
has been under discussion In the House
of Delegates for several days. seemed
bright last night, though leaders OF
both sides are standing out firmly for
their views. 1t is conceded, how ever,
that whether the tax be ~ or rs cents
Is not matter of vast Importance,
There VIII be a test vote rs TO whether
or not il shall be collected at it's source
the main bone of contention at pres
ent-and when that has been decided
ono way or the other, all factions Will
probably unite In the final passage of
the bill, thus allowing 1t by the re-4
quired four-fif vote to take effect at
once.
stuart Stands Firm.
Governor Elect Henry G.. Stuart left
the city yesterday to work on his ln-
augural address, the constant demands
on his time while hero having pre-
vented the completion of that paper,
Before leaving he said that his op.nion
as to the taxation of money was unS
changed--he believes the rate OF 26
cents on 500 to be the lowest that
should be adopted. and that, In iuStiti-
cation o fsuch q very low rate on this
cation of such a very low rate on this
lected at its source. AT this rate, hea
in support of this opinion. he referred
to the claims of the Virginia Bankera'
Association in a circular Issued by 1t q
few weeks ago. The bankers, in urging
a rate OF 35 cents on S100, declared In
their circular that II would .'end the
disgrace of law evaded and public con-
science warped" would prevent tho
permanent removal of money from bank
on February J." and would Encourage
out-of-State investors to place their
money in VirBinid banks"
For Assembly To Decide.
Since the bankers believed last month
that such good results would flow from
n rate OF 35 cents. Mr.. Stuart took the
ground that the effects would be
equally marked at a rate 10 cents less
than the bankers themselves asked for
a few weeks ago. Mr.. Stuart EXPLAIN
cd that he had agreed to rate 10 cents
lower than the association demanded,
In order to couple with 1t the self
"ollectible feature. He was, he said,
stating only his own opinion, recogniz-
ing that the matter is one for the Gem
eral Assembly to decide.
Chairman Weaver, of the House FL
nance Committee, patron OF the bill
segregating the tax on money to tho
State alone, who at first proposed a
2-cent rate. whose committee reported
10-cent rate. and who, as q conces-3
sion on Saturday. offered an amendment
night that he had gone far enough to-
ward securing compromise. He had
shown his good faith and desire to
get an emergency BILL In raising from,
q to 20 cents, and thought tho other
side should make some concessions to
secure Legislation that all agree Is se-4
riously needed.
Question Not Now of Rate.
Delegate Jordan, OF Pulaski. patron
OF the substitute now pending, which
has the approval OF Governor-El
Stuart said last night that In drawing
his substitute he had made a conces-
sion from the regular State rate Of S5
cents, which he believed to be the
proper one. and which the bankers at
first approved. to the rate OF % cents,
provided in his substitute. The qlies-
ton, he said. was not now SO much a
matter of rate, but OF whether the State
proposes to provide effective means to-
collect the tax, or to wink at the eva
sions that have been the custom rather
than the exception in past years.
THE plan of collecting at the source
simply MEANS" he said, that the bank
will pay the whole amount Of the tax
and charge 1t pro rata to depositors.
tax Will only be $3.50. and there will
be no county, city or local tax. This
does not violate the secrecy of a mans
personal bank account. and for that
reason believe it is preferable to giv-
Ing fnquisitoriai powers to the COM
missioner of tho revenue. or to having
tax grand juries examine the hooks of
banks in their localities to see whether
individuals have made honest returnsn
VIII Make II Emergency Act.
From the best sources of informa-t
tion It would appear that there is row
no disagreement as to rate.
whether 1t be 90 or 20 cents, and that
the House Is about evenly divided ON
the subject OF taxing at it's source
though the majority against this Issue
is claimed by Mr.. Weaver. Assurances
have been given. however, that when
n test vote has been taken and the bill
comes up on Its final passage. either
with or without the taxing at the
source provision. 1t will receive gem
erai support and so be made to take
effect In time to apply 10 the 1914 tax
Ing period. The Senate has already
passed the Echols bill at 10 cents,
without any provision for collecting at
opposed to that feature OF the Jordan
substitute. Advocates OF the bill in
the House believe that the Senate will q
agree to 20 or 25-cont tax rate, to
be oopected as heretofore, and that 81 =
bill providing for that can be put on
IT'S passage In both houses and sent to
the Governor for final approval within
q day or two ,FEsa
Getting Down to Work.
Old hands at Legislation arc Sur-b
prlsed az the rapfdity with which this
In the ten days that the General Az
sembly has been In session, probabfy
tho most Important matter to come be-
preme Court Judge. has been dlspossa 4,
OF through tho caucus choice of Judga &
Joseph l.. Kelly. OF Bristol The fIousc y
rid it's calendar OF one OF the massegA
which In former years has taken staf5 q
time. Thirty-twcs bile OF all a1sts hare