The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-13
Governor Gives Summary On
Fiscal Legislation Enacted By
Legislature
MADE LONG STRIDE
TOWARD EQUALITY
inheritance Tax Held to Be
Just and Beneficial to Com
monwcaIth - School Fund
Was Well Provided tor

Tax segregation, after one year oil
operation was given emphatic en-
dorsenient ard was greatly strength
ened by the General assembly, which
ended its lsbors Saturday, according
10 a summary by Governor Stuart OF
legislative sction on the states fiscal
Affairs. This endorsement was ex-
pressed by large matorities for the
various bills passed, which were pre-
pared for the purpose of psrfect.ns
the taxing system. on which the Com
monweai:h EN- harked as result OF
the special session II the General as
senlbiy In :9l5.
The Governor expressed special
qualification over tine fact that the
Legislature was 80 far satisfied that
segregation has made good that II
greatly increased the provisions for
the public schools. while taking care
of all the needs OF the government for
the next two years
Asked for a summary OF fiscal legis-
lation enacted at thu session just
ended, Governor stuart said;
1.-THE General Assembly registered
much large majorities for the meas
ures strengthening the segregation
idea than were accorded the original
bills for Ibis system one year ago
There was no serious advocacy of a
return to TIE former plan. and eTer
those who heretofore doubted the
practicabtlily OF the new system evil
denced with a few exceptions dis
position TO give II a fair trial As
far as a n advised Of the contents
of the general appropriation blu
which is not vet before me. | believe
we shall DC able TO produce sufficient
revenue to meets It's demands upon
treasury.
Eouailty of Taxation.
"A long stride in the direction oi
equality Of taxation was taken In the
passage OF the hiil~ placing a def.
mite limit on the assessment OF
omitted taxes on intangible persona
property. The taxes on this class oil
subjects are segregated for state pnr'
poses, and IN recognition of the fac'
that when found they cannot escape
assessment at full value, the General
Assembly in 1915 provided for them al
greatly reduced rate In comparison
With the rates on other property
which Is admittedly underassessed
Having granted this just concession
1t becomes the duty of the Common
wealth, In Justice to all classes. TO hnd
this property and place 1t on the tax
books, Uncertainty as to how far
hack this probe should extend has
during the past year made many per
sons fearrTit of tine -t1x-eathefef,- ifi
has made difficult the task OF dtscov-
cry.
at has now heen determined that
all assessments OF intangihles prior To
1909. when the new constitution be
came effective, shall he conciusiVel.
presumed no he full and correct. and
bahind that year the assessor may not
CO FOR State levies. For local taxes
which have n different constitutions
status. the assessment may go back
TO 1919, or three years only Every
owner OF iniangibles whose property
has not beeu heretofore assessed. now
knows Just how far back he Will nave
TO pay, and. best OF all, every such
owner knows that equal and eNac'
Justice will be administered TO All
and that here will he no dlscrlmlna
,ion between one citizen and another
ar between one locality and another
.rba hands Of the State Advisory
Roard on Taxation, to he hereafter
known as the State Tax Board, nave
been sire ythened so as to make !,
sure that examiners OF records VIII
enforce assessments equally through
out the State.
inheritance Tax just.
sTt il Admitted everywhere fhan an
inheritance tax. such as that required
nv the new act just passed, Is a just
ana fair proposition. and 1t will ado
10 the revenues OF the Commonwealth
from a source best able to stand its
proportion OF the burden OF taxation
1.-THE method of taxation OF manu-
facturers' capital ts admittedly eudft
able. and is protective of necessar,
borrowed &c pital. The increase In the
state tax Or water, heat, light anc
power companies while insufficient, Il
a step toward securing proper rev
eGue from this source.
The provision for the keeping o
accounts OF purchases by merchant
means that in future a more correc
and equal tax Will be levied upon thi
class for tho privilege or doing bust
ness In this State.
I'm wo.d the entire course of thu
LEGISLATION In the session of 1871
ra&&aa a icng step toward real equal
ration.
"F'or the schools. first or or II
Of duties. we have done we'll. Th'
e.,tAerI,,. Ppda4t OF Public Instruction
In recent address before the senet
FINANCE Committee cor, a,eire1 .ho
mi incran.,o IN appropriations daftn,
ths mast ten yeafs le0s-1sta va
on;v s30o. 400 FOR the entire period
Segregation has increased the fund
for this purpose In one wear by $652,
600. coming from the followin,
sources.
Tax Ter school Fund.
ssTen ee+,ss on the 500 of $4,000.
600 intangible personal propsrt
brought on the books ana faxed fe
the fi~st time ny segfeeat!oE--~s't a.
900.
oTen cents on the 500 from take
already assessed under segregation OF
intanglbles. hut not yet collected. 10
. wears previous to i9ia-~s t37 900.
!. I'm addition 10 the two items abov,
Y giving schools $4,000 of additional
+ revenue, there will be ten cents on III
si00 from natural increase on reas