The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1868-12-09


terest paying debt, there is a float
ing debt of 100000, in the shape
ofBillsreceivable, authorized by the
Legislature, which are available for
taxes, and which will all be proba-
bly, absorbed. by application to
that purpose during the present
quarter, this giving but little aid
to the Treasury in the way Of
current funds. This is the last
quarter of the collections for 1867,
under the assessment by the Mill
tary C Commander, and it will leave
the entire collections for 1868
available for the purposes of the
Treasury. They would have been
sooner collected, but for the diff
culties attendant upon putting the
new tax law in operation, the col
lection under which will commence
in January next.
Under the new law, bringing
every class of property on the tax-
list, at it's bona fde valuation, in
Guiding much. of what has been
heretofore exempted and a still
larger amount entered at nominal
value, at a moderate estimate,
there will be not less than three
hundred millions of property as a
basis of taxation. This, at a very
low per centage, will afford abun-
dant revenue to meet the current
expenses OF the State, the interest
on it's funded debt, and consider
able margin for: the establishment
of a sinking fund.
In this connection I would re-
commend that a law be passed
providing for the levying and col
lection of taxes in counties TO meet
their local expenditures and the
salaries Of their officers. This will
enable them to make.such improve
mcnts in the way Of roads, bridges
and public buildings as the taste
and public spirit Of the citizens
may dictate, without drawing from
the public Treasury moneys to de-
fray the expenses of local improve
ments, in which the citizens of the
State at large have no direct inter-
est.
The Comptroller's estimate Of
expenditures for the current year
amount to S4e9, 1888 exclusive Of
interest, s33o,e92.as, which in
cludes that on a portion Of the
debt for the quarter ending Octo-
ber, 1869, making an aggregate Of
1919, ,290.51.
In the report-of the Comptroller
General you will notice the items
| of what is considered as. The war
debt of the State aggregating ST.
| 722,315.86; and Of credits due the
State from Sherifs and Tax Col
/ lectors, amounting in the aggre-
gate to s76,664.87, which be re-
eommends may be sunk and
dropped from the accounts of the
State.
| Iwould suggest that the Chair
man of the Committee on Finance
of the Senate, and the Chairman
of the Committee of Ways and
Means in the House, be associated
with the Comptroller in investi'
eating and determining what
claims originated from the prose
cution Of the war.
I recommend to your consider,
alton the propriety Of passing
| law for the funding of tie interest
on the State debt up to July I.
| 1868, to avoid the necessity o1
forcing the bonds of the State on
the market at a sacrifice. I have
every confidence in the ability o.
| the Treasury to meet the future
interest upon our debt as it be.
comes due. e.
The following is list of the as
| sets of the State on the 3lst day
October, 1868:
Shares in North Eastern
Rail Road Company $4,000
Shares in Spartanburg
Company Con 25O,oo(
'iRii Rail Road Company 42,5o(
Shares in Greenville and
G.l-,b,, po;t Road
Companv oInrnplv .'"' 4a3,9s(
, Shares in Blue Ridge