The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-07-30
I 1870. mills; and, In 1871, I mills, making an
aggregate of 2s4 mills, in four years, for all

purposes. r.
school purposes, or mills for payment of In
Sarest on public debt-but one levy each yee
t:to meet appropriations for all purposes" Al
anpua. average tax OF u mills was all tha
could be relied upon from taxation, iron
which to pay the State expenses. sun
amounting in four years Gf all collected) to 81,
1000, or an annual sum of 81, ITS, 600. Thi
estimate is based upon The valuation OF sl6S,
000, ,00U OF property, which Ia In excess oil IN
real amount some s5,000,000, in consequence
of The attachments made BY the State auditor
aud the numerous tracts of land which haV
been entered upon the tax duplicates twice.
Now, will not attempt to prove that In
State Government could not have been main
tanned upon 81, lie, 600 annually, had the Legs
lalure SO decided. That will not enter Init
| the discussion. The Legislature, by lts laws
decided that 1t should cost good deal IN OK
cess of this amount.
| But these figures are to be modified by tn'
| fact that only about two-thirds OF the take
levied during the past four years have peel
| collected, or an annual amount OF $S75.0O
wherewilh. to meet all demands upon I'M
treasury, a sum utter.y inadequate to meet I'M
annual appropriations.
expenses during the past four years to sho"
how Inadequately the Legislatures have pro
vided by taxation to meet the appropriations
which they made. An empty treasury now Ii
another proof of it. ,,,
i The collection for taxes for the presenl
year received into The treasury between the
| 18th of November and the 10Th OF January
the period in which they are que, was vas Suoo, noI
| 800 81, from which s3l9, 7S4 65 were pald upon
appropriations due the previous year,
The balance was paid to the General Assem-
bIy. publc printing accounts, and other Incl
dental expenses during the period OIL It's re-
ceipt into the treasury; 80 by the time tne
General Assembly adjourned the entire
amount had been exhausted; exhausted before
| The school appropriation of 100000 was mol
made until the day before adjournment, go Of
all other general appropriations.
LICENSE LAW.
To meet the exigencles of the summer IL
cense law was passed near the close OF the
session, from which many believed The State
would get a large revenue, but the income was
entirely inadequate to meet the wants OF the
State during this summer. It was estimated
by some, VINO knew nothing whatever about
il, that 1t would yield s500,000 annually, while
the result of one quarters collection proves
that it will scarcely yield $50. 600 per year;
One quarter of the fiscal year having expired
before the law was passed. leaves only three
quarters to be collected during the year.
I have shown you that We have expended
more annually than we have received from
taxes, and that, In my opinion, 1t was great
evil. have stated that was always opposed
to the plan, but my views have not been In &C
cordance with those who mace the laws.
THE tax LEVY.
now refer to the art making levy for
taxes for the ensuing year, as more In accor-
dance with my views, VIZ: A specific TAX Tor
school purposes of two mile, and elk mills TOR
all other purposes, except interest on public
debt and redemption of revenue bond scrip,
for both of which definite amount is fixed.
This Is as 1t should be, with the exception OF
Legislative expenses. would have specific
tax for that purpose, and keep the expendl-
tnres within the amount collected, then the
system would be as nearly perfect as II could
be made. But as 1t Ia, 1t Is great improve
ment on the past method. Thus the two mills
assessed for school purposes, II collected close
", will furnish $500, 900, which cannot be
diverted. We are thus approaching pertec-
lion In our system, and with faithful, COM
petent officers In each county, we can rest
assured that the financial difficulties new sur
rounding us will not be repeated.
MORE DEFINrTE APPROPRIATIONS.
In reference 10 the matter of appropriations,
my idea has always been that they should BIZ
fixed by law. Just 80 much and no more Tor
each and every purpose annually. l believe
future legislators will agree with me upon
this point.
While the amount should be defined, the ap.
propriatIon should be ample for the specified
purpose, and specific taxes sufficient In amount
TO meet the payments should be Levied. When
this Is done we shall have successful govern,
ment, one that will be respected at home and
abroad. Nothing less than this Will accom-
plish 30 desirable O result.
AMOUNTS RECEIVED FROM BONDS.
Itappears that the sum Of So, 600, 600 OF bonds
has been added to the State deDl In four years.
While the face value OF the increase Is So 0OO,-
0tyo. the sum realized from the sales Of these
bonds las only been about s., ,450, 600, reveal.
ing the fact that the average price obtained
tor the bonds has been about thirty-si cents
on the dollar. The cause OF such depression
of the bonds Is graphically and truthiully de-
scrlbed by the Hon. R. B. Elliott, In speech
made 10 Congress-, May SOLh, 1872.
SUCCESS OF DEMOCRATIC EFFORTS. TO INJURE
OUR FINANCES.
After commenting upon the report oil the
treasurer for the fiscal year ending OCTOBER 81,
1871. in which he defended the issue Of bonds,
he went on TO say:
1T it required the sale OF greater
amount OF bonds than ia customary In other
States to realize these amounts, the responsl.
hlitv must rest upon the Board OF Trade ana
Chamber OF Commerce of the City of Charles
ton. united with other Influential comolna-
tiops who, acting under the belief that to de-
stroy the credit OF the Slate was sure means
of destroying the political party in power,
stjgmalized, In advance, the bonds OF tne
State as worthless, and declared that as 5000
as the Democracy should regain the political
control of the State they would repudlate
every dollar of debt contracted subsequent 10
the adoption of the new State Constitution.
Pretending to represent the people OF South
Carolina, they boldly proclaimed their WlcKea
and unholy purpose TO sacrihce tne nonor Oh
the State. This wicked determlnation 10 oe-
stroy the financial credit aud to depreciate
the securities of the State was recklessly put
In execution almost simultaneously with the
advent OF the Republican party into power,
and before 1t could have rendered Itself, by
any act of Its own, obnoxious to the charges
of corruption or improvldence.
.'THE CHARLESTON DAILY NEWS, the Leading
Democratic organ of South Carolina, on the
l7th of July, 1868, but ten days after the new
State Government went into operation, boldly
proclaimed the purpose OF Its party In the fol-
lowing language:
"sBAYoNET BoNDs.-It would, doubtless, be
a very comfortable thing II the debt of the
State could be paid, or the interest funded,
until the people, under Legitimate govern
ment, are able to meet their public obliga-
lions. But this cannot be done by the motley
Legislature now in session In Columbia, nor
can they, By the issue OF 'bayoneC bonds, pro.
vide. as proposed, for the deficit 10 the annual
revenue of the State. =, ,,,..s
u.rhe Legislature will, Of course, bleed
freely every property-holder In South caro-
lima, and, as long as they usurp tne macninery