The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-05-28

Iotal... .....................7 4 5O-1Ot
This tax of three-fourths Of one per cent
will produce 1920, ,l6s, while the Appro.
priation bill passed at the last session Of the
Legislature expressly limits the total amoun,
to be assessed, and axes it at not exceed
ing one million Of dollars. .rt /
Under the old system Of State taxation,
as is generally known, much valuable
property was returned at nominal rate.
No account was taken Of the value Of Inn
proyements, and some Of the mcat import-
ant interssts in the State escensd TAXATION
altogether! Gross incomes from all trades
aud professions, and the gross receipts Of
merchants were, however, heavily taxed. In
1866, for instance, the tax on land was 30
cents on every 500, while the tax on gross
sales Of Watos, gopds ana merchandise was
60 cents on every 500, on, incomes from
employments and professions 81 on every
500, and on incomes from commissions SIS
on every $100., This inequality in the rate
oftaxation, and the fact that businesa men Of
all kinds were compelled to pay o heavy
tax on their gross receipts. whether their
business resulted in iossi orproAt, caused
the burden oftaxation to weigh with numb
ing force upon the cities and towns, while
the country districts were. comparatively
free from oppressive taxes. It was, there
fore, thought proper to change the whole
system, and 70 bring every class OF prop
erty upon ths Tax bill at. .its true valuation.
This was proposed to be accomplished by
the tax law Of 1868--one Of the most CON
fused and confusing laws ever adopted in
this or any other State. The general policy
OF the law wass however, wise, the inten.
tion being TO assess all property at its mar
ket value, and to tax nothing but acquired
property. The merchant was to, return for
taxation the balance, to his credit after de-
Quoting his current liabilities. The pro,
fessional man or, clerk returned only tho
value Of his personal property. In every
instance the aim being to tax only what the
persons taxed was worth in, real and per
aeaas 55taie. Tine exemptions, were but
few in number. Had the tar lsw been oleSr
and explicit. and had its enforcement been
entrusted 10 Intelligent men, the returas
would doubtless have been much more sst-
isfaotory thsnthey are. But the sssesscrs
were, for the most part, ignorant and inex-
perienced, and it in y matter for eurprise
that anything like complete return should
have been made. ,9ae point may be notIcsd
in passing, Under The new constitution 40
poll tax may be levied except for sdaea-
tional purposes, so;that the oolored people
Of the State escape all taxation for the gem
cral purposes Of the State Government.
They vote and make laws, hut the white
people clone supply tha money to carry On
the government Of the State and redeem it's
financ al credit. @s
b In considering the amount Of taxable
property in the State under the new sys-
tenn, 1t may be remarked that in 1850 our
whole taxable properly was set down at
$54s, ,1SS. 754, inalusivs os the slave prop.
srty, which may be act own at $3.50, 962, 400.
Governor SCOTT estimated shat thers should
be not less than $500, coo. eco 81 properly
as Q basis Of taxation. This, ws said at
the time, was ON excessive estimate. The
value Of propsrtysof oil kInds had been de-.
creased by the emancipation Or the slaves,
and. II the whole property Of the State,
stasr than slase proY erty, was worth Less
shan 100000. 900 In 1850. II was our
opinion thAs, In 1864 the total amount
would not exceed $500, ,OO0. 900. This we
still believe to be fair estimate Of the tots,
value q oil our taxable property. But
the whole taxable property ID .he s.ats,
as reported by the district assass1-s. vaa ,,a
but $ll4,076, ,274s viz real propsriy 87s.-
l15. .02o, and personal property &saaE1, ,2ss 4
This was unslorbtcdiy far too low. Ann n !.