The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-03-16

the Appropriation bill, which declares that
sthere shall not be assessed or collected
''under the provisions of this act an amount
"exceeding one million dollars" The Appro-
priation bill is altogether 1884, 4,542, which,
if one million be assessed, would leave o
margin of $165, 600 for Legislative expenses.
We may as well, then, stare the figures in
the face, and make up our minds that in
this year Of grace we must raise by taxa
ii on one million Of dollars The tax re-
ceipts in the last three years have been as
follows:
1855 OBSERVATION-DISCLOSURES. 1886. .210
1S63. :.................... 31o o4S Oh
So that there is To be paid in taxes more than
three times the taxation of 1866 and 1867, and
more than twice the tax of 1868. This is,
| indeed, enough to make one doubt the bles-
sings of reconstruction, and to cause one
to sigh for that unreoonstruoted period
when there were no legislatures, ne contin-
gent accounts, and but few famishing off,
cials to consume our little wealth. But We
must not forget that it is our duty, as well
as to on, advantage, to make any reasonable
sacrifice to pay the interest on the State
debt, debt for which we are as fully re-
sponsible now ss We were ten years ago.
This must be done for the sake Of our own
reputation, and it will undoubtedly rebound
to our commercial and financial advantage.
And in looking at the round one million of
dollars which are to be raised during the
fiscal year, we must also remember that the
whole system Of taxation has been changed,
and changed for the better.
The theory Of the present tax law is to
bring every class of property on the tax
list at its bona .6de valuation. This system
should subject to taxation many millions of
dollars which under the old plan gave
nothing to the treasury. We can hardly
hope that the returns this year will show
the whole taxable property Of the State,
so puszling is the ambiguity of the Tax bill,
and 80 great is the ignorance and the in
experience Of the different assessors. But
in year or two the wheels will run more
smoothly, and then, we venture to say, cne
million of dollars will be raised with as
much ease as half million was raised two
years ago. =, -
1t now remains to endeavor to form some
idea of what our State taxation should be
this year, assuming hat the amount to be
obtained is one million of dollars.
According to the census of 1860, the value
of the real and personal property in the
State was $548OOo 900, and if we deduct
from this $20l 900 QUO as the value of the
slave property siuoe emanoipated, we
have left $S47, 100000, Tns-value of our
landed properly, however, has been very
much reduced by emancipation, and we are
inclined to believe that the estimate of Gov
erner Scott, that $500 100000 Of property
will be returned for taxation, will be found
much toe high. Admitting that great
deal of property will be returned which
was not returned before, and that q great
deal of property will not be returned which
ought to be returned, and taking into sc-
count the circumstance that every descrip-
tion Of property will be uuder-valusd, We
do not see that the property returned for
taxation can exceed $500. 600, 900, upon
which sum an assessment of one half of
one per cent. would produce one million Of
revenue. This we can carry, without any
general distress, although districts which
have heretofore been practically exempt
from tsxaion, and now are taxed according
to their property, will find. the burden
heavy Taxation in these days, however,
is an affection to which one submits with
patience, and if we were inclined to repine,
we might find substantial consolation in the
fact, that South Carolina-with q negro
popular majority, a reconstruction govern
ment, q swarm of place holders, Constitu-
tional Convention and two Radical Legisla-
tures-is still able to pay rate of taxation
which will meet all her Liabilities and liqui-
date the current interest on her debt.