Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1868-07-15

the enormous sum OF 81 ,O51 ,G3S.5O, withou
one dollar being appropriated fer free schools
: To redeem the Bills Receivable, which ma,
, be outstanding on the lst day of Octobe
next, 10 pay the interest upon The State deb
which may be due at that time, and to fur
nish sufficient funds 10 carry on the opera
tions of the State Government until the take
may be collected in the spring of 1869, | re
commend that 100000 dollars be borrowed
BY the State upon bonds, provided the bond
can be disposed OF at no greater discount thar
twenty per cent.
1t is now believed by the financial officer
of the State, in which opinion | concur, thai
the tax order of Gen. Candy, together witt
the tax levied by the Convention, will not
realize to the Treasury more than S975 900
There is one striking and even alarming fact
with reference to the pecunlary and financial
condition OF the State, to which it 10 here
proper to advert. Notwithstanding the order
of Gen. Canhy provided for more particu-
lar aud accurate assessment OF real estate the
present year, than has been made heretofore,
u revision OF the assessments shows very
considerable decline in the value Of all real
estate aud town property. Lands in the coun'
try are worth from fifty to one hundred per
cent. less than they were on the LIST CT Sep
tember, 1865. Nearly as great a deprecia.
ton exists in the villages, towns and cities oi
the State, especially where the lots are not
Welding rents. The above estimate, which it
will be necessary for you to provide for, en-
braces only the ordinary expenses of the State
governments, and does lot include the amount
necessary for free or public schools. 1fthe
taxes Of the present year proved oppressive
to all branches Of industry III the State, and
yielded but three hundred and sevcnty-five
thousand dollars, the expenditures the next
year should, if possible, be curtailed by the
reduction OF salaries and otherwise, so as not
to exceed that sum, exclusive Ct the interest
on the public debt
By The new Constitution the poll tax is re-
qnircd to be appropriated exclusively to edu-
calional purposes; and, under The circum-
stances, it would be unwlse, in my judgment,
to appropriate any other sum.
The taxing power is always q delicate one
to manage, ard is invariably regarded by the
tax payer with jealousy III the recent polit-
ical changes that have occurred. the fact can
not be denied that the General Assembly arc
the representative of very inconsiderabc
proportion of the property holders and tax
payers Of the State. Tho colcred population,
who constitute the large majority Of voters,
have little property and yet all the expansive
machinery of courts. .iaries, ills and the Pen
itertiary, IS as much to give protection to
their perso,.s :nd ri"perty ;S t. tlie taxi pay
er himself; and ii would sce,n 10 be only
right aud proper that some . :ltion of this
burden of taxation stould be borne hy this
most NUMEROUS class OF s0c!e y. IT TIE Gen
cal AS .cn.i,!y, regardless ti these views,
should lew III. entire tax OF the State Upon
property, it would necessarily lead 10 much
dissatisfaction and Jiiscon:ent among The class
thus taxcd-very many Gf whom are not on
ly prohibited from filing my :ificial positions
in the State, tu1 are actually excluded from
toe privilege of the elective franchise.
THE BANK Of TIE STATE OF SOUTH cAeolISA.
In estimating lie c5ntir,grdt liabilities Of
the State, the notes i'suedby the Bank OF the
State OF S nth Carolina, All uniting, accnrd-
in to the report Of the President to The Leg
isnlurc dated lsl of October, 1866, to 3d.
S67 .5i9,5i, were not cmblaced, l"r tae 70 son
that, in my Judgment, there i, no lega! LA,
bili,y dcvolyed upon th. Stat 10 make good
any portion oclk;s issue. This report show.
that the issues of tie nank Of notes under
ore dollar, up TO and since 1851. amounts
alone to The enorm us sum ot 40, 600 dol.
lars. 1t is not stated what su;a in bills above
the denomina.on nf cue dollar were issued
alter December, 1869; hat it is believed .hat
very large amount was advanced TO the
Confederate Government.
The new Constitution. in one O! lis ciauses,
expressly prohibits the payment Of any debt
" contracted IN behalf of the late rcb"ll;on.'
In tic present instance, it is impossible to
distinguish what bills were issned prior 10 and
since the beginning Of the war. II, however,
no objection Of this sort eXis ed, there would
be, in ny opinion, no liability on the part of
the S,utc to rcdeecl any portion Of these bills.
1t is true, that the capital was orig nally fur
nshed By the State, but the Bank was an in-
corporated Institution, liable to sue and he
sued. and the bill-holders can enforce the
same remedies against it and rake is assets
liable as against any other ba"k. The obli-
gaiion Of the Stale to receive bank bills in
the payment os taxes, is qualified By the pro-
vision that the 5auks must lie specic-payns
institutions, and no such obligation exists un'
less the notes are redeemed in specie.
A Bill has already been filed in the Court
of Charcery for Charleston District by Dab
nov, Morgan & Co., billholj rs, against the
President and Directors of tie Bank OF the
State of South Carolipa. The Attorney-Gon.
eral called my attention to he fact and de-
sired to know whether it was my purpose to
bare an answer fled in behalf Of the State.
Entertaining the opinols already expressed
that there is no liability Oh the part OF the
State, instructed the Attorney General that
it was my determination to take no notice
whatever OF the proceedings. If the General
Assembly should arrive at different concu-
sion, they can adopt such course as will in
sure the representation of the Stare BY coun'
eel upon the trial Of the cause.
The Governor gives consldsr4ble attention
to the Greenvilc AMI Columbia and Blue
Ridge Railroads, ana the Pepitentiary, which
papers are of much interest, bat too lengthy
for the crowded stale OF our columns.
THE LUNATiC ASYLUM.
The report Of the Regents of the Lunatc
Asylum, covering the reports Of DR.. j. W.
Parker the Superintendent and Physician,
and of John Waties, Esq the Treasurer, is
erewith communicated for your information.
The report OF pr. Parker shows that at the
! commencement of the year, the number ol
patients was l42; s. we're received during
the year making total Of 227. OF this
number, IL have died, or have been dis
charged, leaving now in the institution Isl
patients-l2G of these are paupers, and Gl
are paying their own expenses. Of males
,hprc are IS; Of females 90.
The affairs of the institution have been ad
ministered with great ability, medically
financially and industrially. The long expe-
rience of the Superintendent in treating dis,
eases of the mind, qualities him pre-emincnt,
ctI, ;,npo,ront nd Il al.