The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-26
DRAMATIC FIGHT
OVER BANK TAX
BILL PROMISED
Lines Sharply Drawn by Weav,
er and Governor-Elect Stuart,
Who Takes a Hand. Both
Strongly Supported.
Stuart Issues Statement Making
Stand Clear. Believes Re-
suits viii be Equally Benefl-
cial at Lower Rate Than
Banks Asked.

The lines are drawn and the fight
on the floor of the house of delegates
this morning over the Weaver bill,
segre eating the tax on bank deposits
To the State and reducing the tax from
Sl.la TO 20 cents, promises 10 be one
OF tho most dramatic and bitter during
The present session. The lines have
been drawn higher up" and the MEM
boris have rapidly fallen into line. The
statement issued Saturday night by
Aubrey G. Weaver. chairman Of the
house finance committee and author
Of the measure. that his side had at
Il pied To com promise by raising the
tax to Is cents. called forth a state
tnent from GoVernor~clect stuart. who
has taken strong hand in the fight
and who is supported by some OF the
a5iest Aen IN the house.
Mr.. STARTS Position.
Goveino reject Stuart said last night
that his opinion as to the taxation Of
money was unehanged-~he believed
the rate Of 70 cents on the $i00 to
be the lowest that should be adopted,
and that. in justification Of such a
very low rate on this class of property,
1t should he collectible at it's source.
At this rate he believed the tax
would be paid. and IN. Justification OF
this position. he referred TO the claims
of the Virginia Bankers association
In their circular ISSUED e few weeks
ago. when. in urging rate Of 80
cents ON the 800, they declared Ii
would lend the disgrace OF law evadei
and public conscience warped" would
prevent the permanent removal of
money from bank on February Isl y
and would encourage out-of-the- State
investors 10 place their money in Nir-
GINA HANKS"
Lower Than Banks Asked.
Since the bankers believed last
r7fetstf, that such good reuits would
how from rate OF 25 cents, he he
Iieved the effects would be equally
marked at rate Of 70 cents less than
the bankers themselves asked but a
few weeks since.
Mr.. Stuart added that he had agreed
to rate 10 cents. lower than the
association demanded in order TO
couple with Il the self-collectible fea-
tnre He was. he said. stating only
his own opinion, recognizing that the
matter is one for the general as
seinbly 70 decide.
The Hobbies Sunday night were prac-
tically deserted. many ~ the solons
having left the city fcr the week
end. and those few scattered here
and there over the CITY. were not in
1IfIaG 10 ulSFNNS pJtikthS
Said To Re Sign of Defeat.
The mere fact that Mr. Weaver has
attempted to strike out the emer-
eencv clause Is said by members of
the opposition. 10 he a signal ~ defeat.
and today will see the measure Of
fered by MIR Stuart. through Mr..
Jordan. Of Pulaski, carried. How
ever, Mr. StuarI's idea of collecting
the tax al It's source and making the
banks responsible, will probably have
10 he stricken out for the time be
ing
The other side. however. say they
have made every concession possible
and they Will do no more and II Mr..
Stuart and hts side can defeat +he
measure they can do so at their own
risk
That an emergency bill is necessary
Continued on Third Page)