The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-31
Total Collections During 1916
Were $9,l55.o22.53, a Sum
Never Before Approached
AMOUNT In GOLFERS
NOW $3,276,395.62
Treasurers Have Been Particu-
larly Prompt This Year-ln-
terest on State Funds $35, 900
for Current Year

The State Of Virginia closes the
ance in its treasury ever known in
the history OF the Commonwealth.
Yesterday there rested in the deposit
taries of the State total OF s3,216,-
1852. the greater part of which has
been collected since October i. Dur
ing the last twelve months s9,155.
s22.53 has been received Into the
treasury from all sources.
When the fiscal year of the State
began on October /. the balance was
s44a.s11.47, one Of the largest ever
carried forward by the auditor.
Since that time s4,S70,966.30 has been
received into the Golfers of the State.
During the same period the expendi-
lures have amounted to s2,037,SS2.15.
Notwithstanding the large dssburse-
ments. the balance represents an I'M
precedented total.
This balance Is practically free
from ALI demands except the annual
interest on State bonds. and the
monthly expenses OF the State which
will be payable on Tuesday. 1t is
estimated that this will amount to a
total of $3.50, 600, and even after this
has been expended, the balance in the
treasury will be larger than ever.
approximately $4,000 Will be paid
10 the holders of the Virginia bonds.
and about $4,000 will be sent out
to State institutions used for salaries
and other fixed charges.
Have Made Prompt Reports.
The present wealth Of the State Is
due partly TO the fact that this year
the town and county treasurers have
made earlier reports than usual
Heretofore the returns from these Of
fieers have stretched over q long pc
Rod. thus keeping the balance in the
treasury OF the State low. and. at the
same time depriving the Common
wealth OF the large amount of interest
that would accrue with the funds in
the treasury. State Auditor c. Lee
Moore so arranged It that earlier re-
ports could be made 10 his office or
the local collections, and although
the tax books for 1916 We're delayed
on account of the change in the law
by the last General Assembly. the ma
iority of the treasurers had the books
in the hands of Auditor Moore on
time Mr. Moore has congratulated
the officers on the work they have
done In face of the delay caused by
the tax books
Revenues Greatly Increased.
The revenues of the State were
greatly increased this year on account
of the operation of the segregation
law. Previous to the last Legisla-
ture all intangibles and real estate
were taxed by the State at IS cents
on the 500. The city received $40,
Under the new tax laws Intangible
personal property. which includes
stocks and bonds. are taxed by the
State at IS cents on the 800. and
by the city at 30 cents. The real es-
tate Is taxed separately. s1.65 being
received by the city and 10 cents by
the State.
This has resulted in an increase OF
thirty cents on the 500 to the state.
without working hardship on the
property owner. or curtailing the rev.
enue Of the city. The operation OF the
law has thus proven ad-
vantageous to the State and locality
alike. and the rate paid by the ind'-
vidual remains about the same.
Under the old law intangibles and