Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-02-02

have not attempted to suggest spe.
cinc remedies. but um Informed thai
tho representatives OF tho agricul.
tural interests have presented, or will
preBent, for Legislative attention Ger.
tain suggested laws. May 1 not hone
that your duo and sympathetic
thought viii be given to them.
Reappointmcut.
II seems Unnecessary to REMIND
the General Assembly that for some
| years II has been lax I'm carrying into
effect tho solemn provision OF our
Constitution demanding rcnppoInt.
mont OF our Legislative and judicial
districts
AT the last session OF the Genera,
| Assembly committee was appointed
10 study this question. They have
made report. md may not insist
that II Is the duty OF this session oil
our iaw-mhking body to sec that thl.
report has full and fair consideration
10 insure us that We shall no longer
ma ourselves living In violation OF
this constitutional mandate
desire also to call attention Il
tho fact that our congressional dis.
tricts vary greatly In their popula.
ton. some considerably under thu
| legal requirements, others consider.
| ably In excess OF thcm; and this con.
dillon III also most worthy of your
| attention.
Taxation.
There IL probably no subject o;
deeper money concern to the pcopI.
| OF the Commonwealth than taxation
l wish to reafilrn my many pre-.
Elous statements that am unalter.
ably opposed TO any increase in prop.
| crty taxation at this time.
After un exhaustive search 10,
some grounds on which To base
tax decrease. and thus relieve, 10
small degree at least. the burdeni
OF the people In this RESPECT; after
many conferences with patriotic Vir.
sinians. whom l regard as qualiilct
TO advise: and after a close and ye.
rious study OF the proposition, / am
with somo temerity. however. led &c
| tho belief that l can recommend
reduction I'm tho taxable rates or
bonds and noies from $40 to 81
cents on the 800. My reason for rug.
| geBting that the reduction b. mad,
on this class Of property are as FOL.
| lows:
First-(n) II Is prime necessity
that some measure be adopted 10 pro.
vide ready money. at u reasonable
rate OF interest. for the Indispensable
needs of all classes OF people.
tb) To provide funds for the urgcn,
demands OF the agricultural class sc
that they may better hnnnce theii
crops, and conveniently carry until
better pay day the mortgages now
upon their farms.
(c) TO provide sufficient funds with
which to carry on In the cities ane
country n more active building cam.
paisn. for relieving over-crowdce
housing conditions. and at the sam,
timc for furnishing work for manu-.
featuring interests. other business
plnnts. and the unemployed. und &c
promote generally the Industrial nc.
| tlreties OF the State.
Sccond-Invcstigatio shows tina,
millions OF dollars OF Virginia moneJ
are now being lent in other States OF
the Union. because a greater return ID
yielded TO the investor than IL yield.
ed by loans TO the people of Virginia
ut the present interest rate, after the
deduction of tax required at resent
under our law. and generally regard.
cd as high.
Our citizens. in need OF ncccssnr,
funds. are In addition to the tax and
interest. being subjected to enormou.
brokerage fees. far greater than lie.
climate Investments viii allow Il
be rightfully paid.
II is earnestly contended that in
| order TO meet the situation. either the
present interest rate OF per cent
| must be Increased. or else tho State
| must meet the situation by devisins
plans to bear this burden. instead OF
placing II upon the people themselves
The latter method. in my Judgment
Is far preferable. :.
Third-Whilst, OF course, It must
necessarily DO speculative as to tho
increase In amount OF notes and
bonds that will be reported for tax,
alton under the decreased rate. invcs-
tigation seems to Indicate that as
result of this reduction. provide our
public officials honestly and courage
ously discharge their duty, an in.
crease In tax yield would soon result
Fourth--It seems reasonable TO cN-
pect that the owners Of this class OF
property In Virginia, who are now
falling to list II for taxation, witt
the idea these securities are unjustly
and inequitably taxed In comparison
with other property, may as mat
ter OF common honesty, IL the pro-
posed rate OF 90 cents DC adopted
give In. to very large degree. their
real holdings of bonds and notes.
II this should be tho result, then
the income from this source would be
greatly Increased, instead of dlmin.
ished, and at the same time the bur-
den would be laced moro equltablJ
upon all OF the holders of this class
of property, rather than. as now
upon the honest tax-Giver 1t would
tend to eliminate fraud and decep-
ton. and to enlist the support OF the
people generally I'm seeing that tn,
taxpayer gives In honestly his assess
ments of the character and kind here
referred to.
Let tho State demonstrate its de-
sire to be fair in It's taxable rates
then, II tho taxpayer does not show
his appreciation by tho honest listing
of his notes and bonds, tho General
Assembly, at its next session, can
meet tho situation sternly.
may say that the period now upon
us Is not propitious for many cx
perimental changes in our present
taxation system. and, therefore, nd.
wise that eXtreme caution, save in
the respect just mentioned, be eSer-
oiscd In any dealing with suggested
plans of taxation, either State, coun.
ty or city.
Inquiry further shows that tho
Budget Bill now before tho General
Assembly appropriates all of the
available funds for State purposes
during the next biennium, save about
$4,000. 1 need hardly state that
this does not cover tho many worthy
causes that will be knocking at the
door of tho treasury for snociaI nm.