The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-11-01

duced to CSC. Assuming that the
stock and bond valuation one Of the
highest and possibly one of the. best
single methods of assessing railroads.
will give their fair market value then
to raise the same amount of taxes now
received from the big railroads in Vir-
ginia they would pay at a total rate
of SAC.
IF laws equally adjusting the
burden are enacted: If they are admin
istered so as to increase the assess
ment OF real estate, personal property
and railroads so per cent: so as to
bring out -r taxation the SIS per cent
OF intanf .fe property now concealed;
SO as to require all merchants to give
in the true amount of their purchases;
so AZ to bring out the just and fair
amount of taxes from other sources;
80 as to equalize the tax burdens borne
by the several persons and corpora
lions owning property of the same
class and so as to adjust the proper
ton the proper burden between the
several classes and localities: then, We
may not reach the millennium, but
We shall be able to care for all our
needs, have extremely low and most
attractive tax rates, and silence and
eradicate the jealousies and doubts or
all fair minded men.
THE committee seriously doubts the
constitutionhty OF the franchise or
gross earnings tax, as at present ad~
ministered, and does not believe the
fair marke. or actual true value OF
railroads can he found by using any
single factor in making the ASSESS
rnent; therefore. in Its report and the
bill accompanying same 1t recommends
"a complete change from the present
Ia = rec RndatiOnS are
the following:
The Land Grnbbers' Act.
Other changes recommended by the
commission include the abolition OF
the so-ealled land grabbers' act. The
commission recommends that delin-
auent property shall be sold by the
State after chancery proceedings IN
order 10 satisfy the claims OF the state.
Just as other judgments are enforced
The dalinquents viii pay all the
costs of litigation. The effect OF this
will be forced collections. possibly at
a little greater cost, but 1t would TOR
ever place the land grabber out or
business, as lands would have to be
sold at public auction after due ad-
Sertisement, and whatever might be
! left after paying expenses would re-
vert TO the owners.
Recommendations also include:
/ Fish and Oysters-There Is no
change whatever in the laws regard
/ ing this branch Of the states reve-
nue. producers.
! Building and Loan Association
All building and loan associations are
/ to be placed on the same footing.
They are to pay at a fat rate OF 50 on
each 81 900 of capital stock author
ICED Heretofore they have been
graded, the claim being that the
smaller concerns were forced to pay
more proportionateiy than the larger
concerns.
( in the taxes now levied on retail mer-
chants in the state. 1t liz estimated
that there are approximately 1900
retail merchants in Virginia, more than
half of whom reported last year that
their annual purchases of stock had
fallen below the $1,000 mark The
,. tax commission in its report Will
I recommend that the minimum tax or
retail merchants be increased 0rorn Vt
to $40. At present a tax OF 70 Ii I'm
posed on retail merchants UP to pur'
chases Of stock asgregating $4,000
and 50 on every $1,000 up to $50
eco and a tax OF 81 on every $1,oot
purchase of stock over $4,000.
Retail Merchants.
The report recommends that a MAJ
tax OF SO be imposed by the State or
/ all retail merchants for stock pur
chases in excesA-pf $1,000. the tax 20.