The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-20
TIE EsDIsFATCH TUESDAY JANUARY

man OF the taxation committee OF the
Virginia Bankers Association, said tina,
fare w"e of he mast! State more than me th,
banks. Withdrawals from country
banks; he said. were serious matters
TO farmers be called in. Ito estimated
that S2,C00000 was withdrawn from
Richmond banks last year. AS matter
rs tho only money In banks is the re-
serve--probably not more thnn 10 Dor
cent of the deposits.
Mr. RiSon. of Danvillc, discussed the
difficulty OF imposing. tax on large
amounts that might DO In bank only
his section In tho tobacco buying sen n.
son. The Weaver bill. he said, would
benefit the borrower moro than tho do
poSitor since II would attract money to
interest. VI
oo Il Mays , had to-day $4,000 of money
said Mr.. Sands. s'
We have loaned out $500, 600, pay
to mest anticipated Withdrawals" sn IL
John ,,S NJ Miller. Jr.. vlce-presidcnt OF
ihSr FIRST National Bank. Last year
richmond s2.Ooo.ooo. and much "H or G ~
never camo back. Largo cornorations
IN i,HS So mo tobacco factories. with Offices
u ,, such conditions Every BANK i'i in
e eotn %%ith M ding credits from peopie
!Eiining loans every day we would bova
DC, neeH T,, glad to accept, In order to " bile
se n tInas II TO meet the demands of those
money nt its source Is impracticabln
IA /. rs, would drive the accounts of our
eN uporationS out of tho State
Tax lodging under such "e iows =.
said 1:e some Of the forms of virtue"
Virginia Bankers" A aaolnfE ION for ..T the
n,"'e rs taking people by the thront
n nnt ,ashins for sl.75 of every sat i
ms conscience from swearing to n " H.;
= some utterly futile way. the denosio
Aud iahes M, MS money out OF bank. Your
eiforts only two or three grand "ii ,,,isl
"9uin aia him to collect this tax"
was nei eaT,air Brown ,3Srn of westmorelan nd.
, would mean wholesale withdrawais Of
i'o oneS IRON the banks Of his section.
Delegate h HsIb be so fortunate" said
$4,000 or $4,000 and to nut II 10 ,n nave
Soo9. sound bank at per cent. should
ox 81. down and live on 1t and not be
SSupport OF the government? This crisis
mas Deen brought about by a fearless
one SS9in'petent official seeking to carry
NV Nv as ne found il. Doesn't it look as
onoush, following right on the heels
E ia =, me Federal banking and currency
OF New York on money that an effor,
Is being made to produce "a lnononoi,-
o. %. TIE loan business In this state for
nv, ny ;oaiiks! III man loans money TO
me Is II to be taxed and yet not taxed
when loaned to Il bank?"
. Rcnping the WhirIwind
rms Is n proposition on the part of
INC Dahks. said Judge Martin Will
lams. OF Giles, backed by an organi-
canon unprecedented. with kilograms
state. They come here and ask YOU
W reduce the tax To rate that will
PSI more to assess and collect than
the state will get from it,
They went all over the state and
stirred this thing up: now they are
Fcapins the whirlwind. 1t lis = Sc
;iouS question. IN my ten years in
the LEGISLATURE don't recall one moro
ike a lot Of partridges and lie forced
10 go on half-cocked? believe the
people would be satisfied with an i'm
munity SO far rs the counties and
cities are concerned and leave the com
missioners to do rs they have done be-
dorc-either tax or not tax it, but /
uon'i believe in the banks acting az
me states agent for it's collection We
pay our commissioners OF the revenue
70 do this work. We are going to have
an extra session next fall to take M
taxation: The people arc going to
know. what we do. and if we start off
oE giving immunity TO 5000 900 600 IL
WIN shake the confidence oC the pco-
pie In the Integrity OF the Legislature
REFORM the tax system"
Land in Pittsylvania." said Mr..
Clement, OF that county. is assessed
at one third of it's value. Why tax
bank deposits at their full value? If
we do that IT will be hard to explain
TO the people of Virginia that the
Leg islature Is just"
IF we do something here that will