The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-04-21

NeUS Wrlte6, unQer OAte OF w 9Shi D RtOn,
D. c., April 10:
A final hearing Of the representations
Of the taxpayers committee, and OF the
ounter-memorialists on behalf of the
State officers Of South Carolina, was had
to-day, before the Sub Judiciary Com.
mit;ee Of the House, Messrs. Tremaine.
Eidridge and White, Of that committee,
being present.
The final argument on behalf Of the
counter-memorialists was made byF.L.
Cardozo, State Treasurer, who went
over the question of taxation, saying
that not oniy the basis, but tho system
under the reconstructed State Govern.
ment is new and strange to the tax Fay
ers OF tho State, though basis aud
system familiar throus shout the Northern
and Western States. He denied that
the taxation is unequal or unjust, and
argued to show that the rate of tax since
the war is less than it is in the States OF
Alabama, Arkansas, California, Della
ware, Florida, Kansas, Louisiann, Ne
vada and North Carolina; that the en-
tire levy for State purposes is only eight
and onehalf mills to the acre for the
past six years. He proceeded to show
that the entire cost per capita for govern
ing tho State is less than in number OF
the States, aud gave from the census of
1870 figures showing that the cost per
capita in Arkansas is 81 96; California,
"a. SO; Connecticut, SO 4S; Kansas,
So %; Louisiana, S3.67; Maine, S2.15;
Maryland, 1920; Massachusetts, S5 .OS;
Nebraska, 81. ID; Nevada, STOP; New
Hampshire, So; Rhode Island, 50. 25;
Virginia, S2.32, and in South Carolina
only Sl.87; and that the entire cost per
capita for carrying on the State for the
SIX years between July. 1868. and Octo
Der, 1874, was only 80 80 per annum.
lie held that under the circumstances,
the taxation in South Carolina is not so
excessive as to be complained of. but
that, on the contrary, it is reasonable.
He referred .te the charges of the tax
payers about the extent of the public
debt of the State. denying that it could
be equitably stated at over $40, 600, 900,
and gave figures designed to show that
only 81, 5000 of the debt was partly
attributable to the new State Govern
ment. He said the Legislature had de-
cided that Sc. 900, 900 of the debt is lille.
gal, and have refused to pay either
interest or principal, and contended that
OF the remaining $4,000. 900, s., ,OOO,-
200 had been funded before tho var.
aud 50. TOO, 900 Of the remaining
50, 100000 was floating debt left BY
the old and funded by the new State
Government.
ln response to questions by Mr.. Ell
bridge, Cardozo said the question of the
S6. 600, 900 repudiated by the Legisla.
tuse is one that the courts will have to
decide, and admitted that he thought
the courts would not sustain the ACT of
the Legislature in deciding that they are
an illegal Indebtedness. He also admit
ted, in response to other interrogatories
by Mr.. Eldridge, that tue new State Co
vernment had accumulated floating
debt of 1000. 900, aud confessed that
the debt Of the State, supposing all the
funded Indebtedness is legal. Is about
$50. 100000. He exemplified the
financial calibre of the State authorities.
by stating that Sc 900. 900 Of the bonded
debt was hypothecuted in New York to
raise funds to carry on tho State, and
that, inasmuch AS the money SD raised
was only forty per cent. Of the face
value Of the bonds pledged, the Lagis-
latnre have it in contemplation to make
the holders of those bonds Uong since
forfeited) exchange them, two for one,
for new bond, thereby reducing the
volume by one-hnlf. do not pretend
to say what the sub. committee thought
Of this financiering scheme. but there
is no sort Of question that it would be
good for the State, provided the holders
OF the bonds so sought to be attenuated
would be consenting parties to the trans
action. Cardozo closed by laying the
entire blame of the present condition of
the State upon the Democrats, who, he
said. refused point blank to help the
Republicans to make tue new Constitu.
ton, or to take any part in the recon,
structed State Government. He "pero-
rated" by calling upon the tax payers to
sympathize with and aid the non-tax.
paying majority in reforming the abuses
complained of, and which be admitted
exist, bnt arc as much ohargeable to the
Democrats as to the Republicans.
Hon. Thos. Y. Simons, in behalf of
the memorialists, then closed for them
in an argument of upwards of half an
hour in length. He sdverted briefly to
the action Of the Tax. Payers Conven-
ton of South Carolina, TO the causes
which had led to its organization, and
disolaiming for the convention that it
waa assembled for any partisan purpose
whatever. or to effect any political
l..