The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-04-01

| lima is before us, and we wish to avoid the
| overthrow of public credit by timely protest
against measures and practices which lead to
ultimate Population and bankruptcy. PRO
longed applause.l
It Is therefore but an act of prudence and
honesty on our part to give this public notice,
tina: bonds issued against the public interest,
for corrupt purposes, and without the consent
of those whose property it fs proposed TO
pledge; will not be recognized as binding on
the State or the people in any form what
ever.
Nr. President, history of the reconstrue-
ton policy in this State and the result OF
reversing the order of society, even extending
the system of its logical conclusions in legislar
tive and judicial matters, will furnish most
instructive lesson to statesmen of all ages. 1t
will stand out, sir, as distinctly as the overthrow
of order in France during the reign Of terror,
perhaps less destructive of human life, but
more demonstratiye of the danger of elevatlng
ignorance to power, and corruption Into places
of trust and confidence; and the fact that the
community has thus far survived the inflction
is bright example of the tenacity Of well
established civilization to resist, for long
period. the inroads even of barbarism. But,
air. we have q bright future before US, and
young men are growing up and assuming the
direction of the affairs of State; conservative
men of all parties, and of both races, are be-
ginning to feel that public plunder reaches
private purses, and that fallacious and partisan
dissension too often enures to the benefit of
the demagogue. Our own race throughout
the country begin to feel natural
sympathy for the white man. And as old
sectional issues pass away, the Inquiry will
arise, what there is in the black race emitting
It to rule the intelligent white man, whose
ealantry in war. and culture and enterprise In
ueace, elevated us to the first rank as nation
And desire to say to our colored fellow-citi-
zens, whose rights respect, and whose genial
and friendly cooperation, for the public good
| appreciate, desire to secure for the mu-
tual interest of both races, that they will SOW
the Wind and will reap the whirlwind, If, un-
der the guidance Of bad counsels, they use
their present power oppresslvely towards
their white brethren. The eyes of over 80, 600,
COO of white men are upon them, and the su-
,perior race will not long permit the oppression
of any portion of Its members by a minority
of another race. [Applause.]
But to return, Sir, to the financial question
before US. find by the statistical information
derived from your daily journals, and such In
formation as have been able to collate from
other sources, that the bonded debt Of the
State at the beginning of the present admins
tration was about s5,0O0,0OO, and now 1t has
reached the enormous sum Of sl6,000,0 600.
This includes endorsements on railway bonds,
which It is believed the State will be compel
led to pay. But one of the evils which we
complain of is the incomprehensible nature OF
the accounts which are published BY the
COMPTROLLER, 30 that no exact data can be had
fixing the amount of the public Gebt.
| The average tax for ten years
previous to 1850 was but. ....$ 43l, 600 90
| The year 1860 being only. $4,000 90
The tax for 1868 ,oas. .."...... 1,s6s,00O 90
The taxable value of the proper -.
ty of the State In 1869. ...... 49O, 100000 Oo
Taxable value in 1871. ......... ls4,eoo:ooo w
1t will be perceived that In 1860 the taxes
| were not quite 100000, on taxable basis OF
| about s5OO, ,0OO, 900, whereas the taxes of 1868
amount to s1,s5s,OOO, on basis of only 1884,
600. 900. so that while the property of the State
was reduced to one-third Its former value, the
taxes are increased nearly FIVE hundred per
cent.
| It is true that this enormous Increase Is COM
posed, in part, of money spent in reconstruc-
ton expenses, and perhaps some additional
interest on the public debt. I find ether items
more striking in the year
| ls5s.Expenses of the Legislature. re....s $1,000
| ls6s-Expenses of the Legislature. &c, 600
| ls5e-Executive expenses. .....-..... 5000
| ls6s-Executive expenses. ........... 4O,ooo
/ ls5s--Civil expenses. s.................. 97,ooO
| ls68--Civil expenses. es................. 2ls,0oo
And the Legislative appropriations for the
four months session, which closed last month,
amount to the enormous sum of s526,oOO.
| Thus you perceive that each item Of expense
is enormously increased, Notwithstanding the
great decrease of the property on which 1t is
/ levied; and to make this still more oppressive,
all this property is over.valued enormously.
have known of many cases in which they
valued for over double what the property
would sell for. [Sensation.l
1 / refrain from citing the cases OF fraud
j which have added 80 fearfully to the burdens
of the taxpayers, end which have been 30 pro-
ductive of vulgar display on the part Of the
corrupt members of the Legislature in the
way of splendid equipages and such evidences
i of ill.gettea wealth as thieves and gamblers
delight to possess. These facts will be graphi-
cally spread before the public when the con-
ventlon contemplated by our resolutions re.
ports from Columbia.
One Illustration will serve to show the meas
ure of the taxation OF the present year. The
State and county tax is sl2 on the $1,000. Now
the planters and farmers of this Slate do not
i expect to realize, under the most favorable
circumstances more than seven per cent.
upon the value Of their property, which, 1t
must be remembered, Is assessed for ia xation,
In every case, at Its full market value. ills
clear, therefore. that the planter who makes
| $40 in the year upon every $1,000
of property, pays out of that $40 the
sum of sl2, or one sixth Of the whole income,
In State and county taxes. But the taxes of
two years are made due and collectable this
year-so that it Is fair to assume that the
double tax of this year will amount to at least
| o,e ,b;rd of. tho whole income of even those