Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1914-01-12
SEGREGATION OF ETAxEs.
Opinions Expressed ar Luncheon Last
Saturday Afternoon.

afternoon at the Hotel Rammel BY
the Chamber of Commerce of thi!
city, was drawing to Il close when tn.
Gazette went to press. AT the close
of the luncheon remarks were made
by several of the invited guests, a
we'll as by members of the chamber
on the state tax plan suggested by
: State Auditor Moore.
Carroll Pierce, president of thu
Chamber of Commerce, who acted a:
toastmaster and introduced ths
speakers, declared that taxation wa:
the paramount issue. He asserted
that money on deposit in banks shoulc
be free from taxes, unless it be d
nominal charge. Owing to the htera,
enforcement of the law taxing bank
deposits, he said, thousands Of dollars
are annually withdrawn from Vir-
ginia banks prior to February 1, that
date being the time for handing in q
list of the moneys on deposit. He
hoped for the passage of law by
February ! of this year, so as to pre-
vent a repetition of this.
Gardner L. Boothe, president of the
n..tional bank, followed Mr.. Pierce.
He said: Sin the first p,ace we want
to impress our legislators that it IS
not to save dollar of tax to banks.
There are no institutions in the state
taxed as high as are our banks. They
are not seeking to evade taxation, but
are simply seeking to protect their
customers. Mr.. Boothe declared that
if a ran is going to be taxed on a
certain date Tor the amount of money
on deposit it is certain that he is
going to remove it to scme other ju-
risdiction. Bank accounts he de-
clared, are not active capital. In
conclusion, he said if there is one
thing the state needs it is capital,
and. he added. eve cannot afford to
drive capital out Of the state.
H. r. Burke Of the banking house
of Burke & Herbert thought 1t
would prove injurious to make bank
deposits a subject of taxation. Banks,
he said, are helpfas 10 a- eonuaunity,
and he hoped for the speedy passage
of a law to eliminate this tax.
State Senator R. Ewell Thornton,
Of Fairfax. said that re was a mem
Der of the banking and finance COM
mittee Of the state Legislature and
he would rather go there and be gov
erned by whatever is introduced be-
fore the committee. He said no doubt
a great many people do remove mon
ev from the banks at the time OF
presenting statements In order 10
avoid taxation. He would have to
be convinced, he said, which was the
he st and which would benefit the state
the most In conclusion, he said he
thought the passage of law to keep
tbc money in the safe would prove
beneficial.
w. A. Smoot, Jr., said too much
stress cannot be laid on the question
of keeping the money in the banks OF
the state Of Virginia. It's removal
would give the financial institutions a
large load to carry at given time,
which, he declared. would cause mon
ey stingency. prosperity is meas
ured by the amount OF money de-
posted in the banks Of community,
decnred Walter T Oliver, delegate
in HE legislature from Fairfax coun-
ty. Anything that tends to draw
money away he declared to be inJur-
Gus. He thought the tax on real es-
tate mortgages should be eliminated,
and promised to do all within his
power to give relief.
John W May, chairman Of a spec
ial committee of the Chamber OF
Commerce, which has been inves-
tigating the alleged inequltable sys-
tenn of taxation throughout the
safe, stated the committee had IN
dorsed State Auditor Moore's plan.
He also cited the drain being made
on the state by the failure Of sew
enty-one counties out Of the one hun
dred to pay operating expenses.
The inequality Of the system of tax
alton is best Illustrated when twenty
nine counties bear the burden of tax
alton. said ]. Fred Bi,ren, recently
elected a member of the house of del
eeates from this city and Alexandria
county. Each county he thought
should be self-supporttng. He be-
Iieves, he said, that the legislature
cannot adjust the matter in, the sixty
days of its coming session, and
,ho,1rht the question should be taken