The independent press. (Abbeville C.H., S.C.) 1853-1860, 1860-06-08

we@e TO raise tie entire sum by an augmen.
tation. Of, tho tasapu negroes, you see that
As cents pd' eapita on 100000: negroes
would produce the required amount. Ad-
.dcd to o5 cents, the present tax, it would
make sls4e, which is very far from 80 so,
and still more remote from s5..
But who proposes to raise the tax, exclu-
slvely from negroes! And why should all
other property he exonerated This is not
contemplated by any one. And ifequaIIy
distributed, therefore the result would Le
as follows: The wholde amount of taxes
raised last year was sG35,524; IN addition
of SlS0,0OO would require an increase Of
about 30 per cent III the rates. On 05
cents, the present tax on negroes. the in
crease at this rate would lie IS cents, and
the total tax Sl.23-less than ore-half Of
the lowest sun named.
This is evidently the worsttlat can, hap
pen, even if the prediction of the adve,sa.
ry is adopted, and no income be allowed to
tho road. But every reasonable thinker
will repudiate SO INDUSTRIOUS an idea. lie
will admit that the road must have con-
siderable revenue. lie will concctle to its
friends and supporters the reasonaLlcness
OF believing, AS they do believe, that with
100000 more Of subscription from the
State and 81 100000 more of endorsement
| they will be able to raise the remaining
ss60,ooo on the credit Of the Company,
aud the Company paying the interest on its
own bonds, for the performance of wlirh
its ability may be fairly inferred from the
experience of every Southern road, the State
would DC left to provide the interest On only
sl,al5,ooo, or $4,000. This would re-
quire an increase Of 121 per cent. on last
years tax. or about twelve cents additional
on every negro, and in proportion on other
property.
| 1t would be great presumption to insist
that these expectations will be exactly full
filled; a want Of candor not to admi, the
f"Il'b'Ilty of ali human judgment, and the
disappointment TO which the best founded
expectations of men are exposed. But the
fa!Iibility Of his judgment is+not IN argu-
ment against the exercise of all reason
And those who will agree to dismiss prriu-
dice from our counsels, and allow reason
her legitimate authority, will perceive that
the plain, practical and common sense view
OF this matter is the one here presented
And if they are willing to admit, as all
should be, the possibility that the State
may be obliged to do somewhat more than
is stated; that she my be called upon to
advance somewhat more of the annual in
terest until the resources of the road are
fully developed, they will be as ready to
concede that in progress of time these re:
sources will be multiplied and enlarged, as
in the case of every railroad 10 this great
and growing country, and the State amply
repaid for her courage and munifcence. .
You ask how long the taxation to be i'm.
posed will endure? The reply is very sim
pie. The Bank ofthe State from its annu-
al gains can pay 100000 of public, debt
every year; at this rate the entire sum Of
the proposed subscription could be exlin-
gushed in eight years; and with the pay
Fuent of the principal would Of course be
terminated the taxes imposed for the inter-
est. Your obedient servant,
G. A. TRENHOLM.
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