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

"under the provisions Of this act an amount
Exceeding one million dollars" The Appro-
priation bill is altogether 1884, ,542, which,
If one million be assessed, would leave a
margin Of $l65, 900 for legislative expenses.
We may as well, then, stare the figures in
the face, and make up our minds that in
thisyear Of grace we must raise by taxa
tion one million Of dollars. The tax re-
ceipts i'm the last three years have been as
follows:
1885 $500 orr.
10oo 1oCo 376 DAB
A'oo. ................ .453. Ola
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 unreoonstructed period
when there were no Legislatures, NO contin-
gent accounts, sad but few fazash;nk eE-
oials to consume our little wealth. But We
must not forget that it is our duty, as well
as to eur advantage, to make any reasonable
sacrifice to pay the interest ON the State
debt, debt for which we are as fully re-
sPonslble now as 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
vhO1a vstoro ~ 20 votSor H.. -.
and changed for the better
The theory Of the present tax law is to
bring every class Of property on the tax
list at it's bona jsde valuation. This system
should subject to taxation many millions of
dollars which under the old plan gavo
nothing to the treasury. We can hardly
hope that the returns this year will show
tho whole taxable property Of the State,
SO puzzling is the ambiguity Of the Tax bill,
and so 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, ono
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
TINS year, assuming that 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 $64S, ,OOC, 900, and if We deduct
from this $2ol, 600. 900 as the value of the
slave property sinoe emancipated, we
have left $347 100000 The value OF our
landed property, however, has been very
much reduced by emancipation, and we arc
inclined to believe that the estimate Of Gov
ernor Scott, that $500 OOO, 900 of property
will be returned for taxation, will be found
much too high. Admitting that q great
deal Of property will be returned which
was not returned before, and that great
deal of property will not be returned which
ought to be returned, and taking into ao.
count the circumstanoe that every descrip-
ton Of property will be under-valued, we
do not SEQ that the property returned for
taxation can exceed $500, 100000, upon
which sum an assessment Of one half of
one per cent. would produce one million Of
revenue. This we oan carry, without any
general distress, although districts which
have heretofore been practically exempt
from taxation, and now are taxed according
to their property, will find the burden
heavy. Taxation in these days, however,
is an afaiction to which enc submits with,
patience, and if we were inclined to repine.
We might fnd substantial consolation in the
fact, that South Carolina-with @ negro
popular majority, q reconstruction govern
ment, swarm Of place holders, q Constitu-
tionai Convention and two Radical Legisla-
ts,res--is still able to pay rate Of tax alton
which will meet ali her liabilities and lioui-
date the current interest on her debt.
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The Savannah and Ch n rlestnu " q a1rc. Il