The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-27
OTHER REASONS WHY.

900 difference between gold ana cur
rency...... ....-...'......'''. sloo'VV"
OTHER REASONS WHY.
In addition to this, we have to consider the de.
crease of the taxable property OF the state anu
the removal OF the other means by which the
State was enabled to meet the interest on It's
debt and gradually reduce the principal OF the
same. Without entering upon me veXed ques'
tiOn as to whether the Bank OF the State was
benefit rather than injury to the State, We are at
liberty to use the fact that the profits OF the bank
were pledged 10 the payment OF the principal OF at
least portion of the State debt. According 10
the bank statement for the month OF September,
1859, contained in the report of the Comptroller
General. before cited, the net profits OF the
bank amounted TO S269, ,s66 0G. THIS amount,
OF course, If properly used, would go lar toward
relieving the State from the burden OF taxa
tion and 1t will be borne in mind that this source
OF revenue is not only lost 10 the State now, hui
the State Is saddled with the debts OF tLe institu
ton. Again, according 10 the census oi 1850 there
were in this State 402 600 slaves, stated in round
numbers, the legal average value OF which was
5000 head. The value OF the slaves OF the state
at that time may be put at $3.50, 900 900, which
alone gave us 4 basis for taxation S9O,O00 Oo0
more than the State now has according TO the
last assessment. The basis Of taxation ten years
ago, If the property OF the state had been lalrly
and equally assessed, would have been Mt the
lowest, $500, ,0o9 900. With such basis for taxa
tion the wonder Is that the taxes were not lighter
instead OF being az high as they were.
The State had at that time free colored popu-
latlon OF about 9000 In addition 10 the tax they
paid upon the property owned by them, they
were taxed by the State two dollars and seventy
five cents per head, and in addition to this very
considerable local revenue was raised by the
cities and towns ofthe State, through the lmposi-
ton OF very large head tax on THIS class OF persons
as well as by charging them an annual license
fees for carrying on business and mechanical en-
pigments; these fees amounting in some locall
ties TO a sum as high as Sl5 head per annum This
source of revenue also we are happy to know, Is
no longer available. Notwithstanding all these
changes and the waste which, as the result OF
the war, has taken place within her borders the
people OF South Carolina today are lightly taxed
compared with many ofthc States OF the Union
II gives real pleasure to be able TO state that,
whether lightly or heavily taxed, the people OF
the State, in the mass have shown most praise
worthy Willingness TO meet the necessities OF the
government.
CONCLUSION.
The Auditor advises that the Ac; be so amended
nc tn exempt -nrr~.iAn r---7OIaI property
of persons who may move and have moved into
this State within three months OF the first or sept
ember, the time at which all assessments attach
provided that such persons prove TO the salislac-
tion of the State Auditor that such property has
already been assessed for taxation in the State
from which they have removed during the cur
rent year; and that a re.assessment Of the real
property of the State be made in 1870. The Audi
tor says:
Another years operations will satisfy the peo-
ple of the State think, that the present system
may be made effective toward securing that end
which all desire-a fair and equal distribution OF
the burdens OF taxation. The State, II the taxes
are equally levied is abundanty aDle 10 lneel all
the demands which the current expenses OF the
government and the interest on the present debt
will make upon her resources. From statement
OF internal revenue paid into the treasury OF the
rl.n1 tnls I'm
lowing
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