The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1868-12-09

ford the necessary basis for taxation.
The estimate of the Auditor forthc con-
,ingcnt fund may appear largo, but it
should be remembered that tho assessors
books, blanks and other forms for the
whole State, are to bo provided out OF
this fund, not only for the assessment
which is about to be made but for that
which will have to be made previous to
the convcning of tho General Assembly
in 1869.
STATE DEBT AND INTEREST.
The organization Of the Auditors De
partmcnt, and the successful completion
of the first assessment OF property will
involve large amount of labor and some
unusual expenditures, but as the result
aimed at is most desirable, | recommend
that the Legislature will afford every ia
cility for the accomplishment of tho objcct'
By reference to the report of the Comp
trolIer-G General, it will be seen that the
entire bonded debt of the State is S5,407,-
30627, consisting as fellows:
Three per cent. stock, payable
1T the pleasure of tho State. S3S ,S3G.60
Six per cont. fire loan, payable
in 1870. 0................... ol4. .4o3.o9
Six per cent. stock new State
House 49, ,OO0UU
Six per cent. stock and bonds
funded debt bt..........l:2S2 :2S2,9Il.2l
Five per cent. bonds, fire loan .4S4 ,444.3 il
Six pcr cent. bonds, Blue Ridge
Railroad .......l.0 .000, 10000
Six per cent. bonds, ncsv State
Capitol. ..oll ,Ooo.oo
Making grand total Of. 50 ,+07 ,30G p
Interest due on tho entire
debt July l, 1868. $500 ,2o4 ~
Interest due january l, 1869. ..l59, ,2l4.3S
Total Interest. ......... .Sol4, ,4lS.fu
This is not the interest on Il capital
debt Of S., ,407 ,3O6.27, at six per cent. but
the reason is obvious, us IL portion OF the
debt is at three per cent. and another
portion ut five per cent.
FLOATING DEBT.
q addition to tho foregoing interest
paying debt, there isa floating dobt of
100000, in the shape of bills receivable,
authorized By the Legislature, which are
available for taxes, and which will all be
probably absorbed by application to that
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 Military
Commander, and it will leave tic entire
collections for 1868 available for tho pur-
poses of the Treasury. They would have
J,cen sooucr collected, but for the difficult
ties attendant upon putting the new tax
law in operation, tic collections under
which will commence in January next.
Underthc new law, bringing every class
of property on the tax list, at its iona .fdr
valuation, including much OF what has
been heretofore exempted and still
larger amount entered at nominal value.
ut IL moderate estimate there will be not
less than three hundred millions of prop
crty rs basis Of taxation. This. at Il
very low per centage will afford album
dant revenue to meet the current cXpcn-
scs OF the State, tho interest OH IFS funded
debt. and Il considerable margin for the
establishment Of sinking fund.
COUNTY TANEs.
In this connection. l would recommend
that Il law be passed providing for tho
lcvying and collection of taxcsin counties
to meet their local expenditures and the
salaries OF their officers. This will enable
them to make such improvements in the
way of roads bridges and public buhl-
ngs as the taste aud public spirit OF the
citizens may dictate, without drawing
from the public Trcasary moneys TO de-
fray the expenses Of local improvements,
in whicI, the citizens OF tho State at large
have no direct interest.
ExrEnnIrunEs FOR TIE CURRENT YEAR.
The Comptroler's estimate Of cxpcn-
diturcs for tho current year amonnt to
S4a9.T92 Is. exclusive Of interest $3.50 ,692,