Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1914-01-20
TEN-CENT RATE ON
!. BANK DEPOSITS
Weaver Bill Segregates This
Property For Use of
State Alone.
MANN PLAN ADOPTED.
Governor Elect Supports Jordan Sub
stiiute Making it 25 Per Cent
Governor on His Dignity.

StiiutN ildkihS II ID CT NtHi- -
Governor on His Dignity.
Richmond. Va, Jan .20-By a vote
OF 8 to 6, the House finance commit
tee last night rejected the Jordan sub
St!tute bill for tax on money in bank.
supported by Governor Elect Henry
c. Stuart, and recommended the
Weaver bill, segregating this sub
jcct Of taxation to the State alone
and fixing the state rate at 10 cents
on S1G0, as recommended by Cover
nor Mann. The contest over this form
of taxation has become the subject OF
4 bitter controversy before the Gen
eral Assembly, and the fight will be
renewed on the floor of the House.
For several hours yesterday bank
ers from all sections of the State pre-
sented to the committee the urgency
of the situation, claiming that unless
emergency steps were taken, millions
Of dollars would be withdrawn from
Virginia banks before February /
the annual taxing day.
While the banks have prepared
themselves to meet the strain, they
have done so by calling in loans. and
to a large extent, putting a check
on business. The decision to report
the Weaver bill at 10 cents, instead Of
, cents, as introduced, was reached
after a three-hour executive session
in which every member took part If
tbs debate. The yc4a was not an
nounced, but was said to have been
as follows:
For the Jordan substitute, favor
ed by Mr.. Stuart: .Messrs. Jordan.
SpesarG, Stearnes, Pitts. Terrell
and Gregory.
For the Weaver bill as amended:
Messrs. Weaver, Brewer, Houston
Montague, Spatig, Owen. GraSty and
Oliver.
Absent. Mr.. Baker.
Richmond, Va. Jan. 20.-Because
he said, of the dignity of precedent
Governor Mann yesterday morning
declined to attend th2 hearing on the
Weaver tax exempt on bill before
The House Committee on Finance.
Governor Mann, Governor-elect
Stuart and State Auditor Moore
were extended invitations to be;
present. Goveraor-elect Stuart anG
Auditor Moore accepted. Governor
Mann said the dignity of the precc-
dent and custom prevented him from
parcipating in the conference before
the committee unless the whole com
mittee called and held the hearing II
his office. Governor Mann made his
announcement to a special committee
which called upon him. He sari, in
cjentally that his tax views differ
from those of Mr.. Stuart.
Just before the hearing was ad
iourned Governor Mann changed hi!
mind. He appeared before the com
nlttce and said that he would b'
very glad to furnish any Information
in his possession and to cooperate
with the committee in any other wa!
possible.
He discussed tax conditions gerer
aliv ar; advocated again the recon-
r1entationS contained in his message
He did not 60 into discussion OF t"
merits and demerits of the Weave
bill
Mr.. Stuart recommended a NOR
general plan of tax equalization. Nh
Moore favored an emergency act ei
| fective this year only. or, ne Saio'
order not to disturb conditions, h
thought the tax might be left as it
until general relief can be afforded
lit being un:erstood, of course, tha
this relief is 60 be afforded at ono:
Before the argument BEGAN Dele
gate O. L. Stearns of Roanoke, of
cred 4 substitute to the Weaver bill
providing segregation. The subst
tute, he said, would be followed b
several companion measures.
In brief, Mr.. Stuart's plan is to IT
duce the tax on bank deposits to
cents OF the Sl0O. tits now 55 cent
State tax plus the local rate.
Richmond the total IS sl.75 on tt
slC0. In making the reduction u
gtuslt would abpii.h the local tax e,