The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1880-12-09

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humane purposes.
The revenues Of the State are collected
with honesty and fidelity. The mode OF
accounting with the subordinate tax off
GERS provided by law is rigid, and it Is
impossible 10 cover up fraud or negli-
gence on the part of these officers, if the
accounting is properly enforced in the
COmptroler's Office. When the money
has reached the State treasury, its custody
and disbursement are jealousy hcdgcd
with stringent provisions of the law. /
know of no practical safeguard that is
omitted.
| COUNTY EXPENDITURES.
But with regard to the expenditure of
the county revenues it seems to me that
the law is seriously defective. There is
now levied and expended in each comfy
for county purposes larger sum than it
pays into the general fund which reaches
cd with such careful provisions Of the
law. The County Treasurer retains the
county funds in his hands, and is in re.
gard TO their disbursement merely the
cashier of the County Commissioners.
In his annual accounting in this matter
before the County Auditor an order of
the County Commissioners, drawn in
accordance with the forms of law, is his
sufficient voucher. Upon the County
Commissioners rests the responsibility Of
the faithful and judicious expenditure of
the fund; they are practically subjected
to little or no supervision. 1t is true
they are required to forward, through the
| Comptroller General, detailed account
Of their transactions, to be laid before the
| Legislature, and it is the theory of the
law that these accounts are by you exam
ined. For the present year but four of
the counties have forwarded their nc
counts in time to be printed with the
Conptroller's report. Others will, per-
Laps, be laid before you in manuscript
during your session, and some will not
reach you at all. The General Assembly
does not, and necessarily cannot, eifi-
ciently discharge the duty imposed and
thus the loose supervision Of the county
expenditures is in singular contrast with
the rigid scrutiny enforced upon the State
| treasury. Your experience Ind judg-
ment will find the proper remedy. 1t
appears to ME that the grand jury OF the
county is the most suitable body to be
charged with examining and auditing the
transactions of the County Commission
ers. If c;Ged by All expert accountant,
and Inc accounts are published for public
information sufficient time before the
examination, it will be as thorough as
can be secured. The accounts should
then be forwarded to the Comptroller
| General, to be by him consolidated and
embodied in his next annual report as
statistical information. These Commits
sioners should still be required, as now,
to submit 10 the General Assembly esti-
mates of supplies upon which TO base the
annual county levy. All that I have
said in this connection applies with equal
force to the disbursement by the counties
of the school fund.-
| THE PUBLIC DEBT.
An adjustment of the public debt has
been reached by legislative provisions,
and by decision Of the courts There
| is no floating debt. The debt funded aud
being funded is ,$6,639,170. OF this the
scrip of the Agricultural College, amount
ing to S191, 800, is permanent invest
ment; the deficiency bonds and stock,
amounting to $564, ,855, mature in 1888 !;
and the consols, amounting to S., 49,, SIS,
mature in 1894. The whole debt bears
interest at per cent.
In this connection would very earn
estly bring to the attention of the General
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ment of interest. The interest is paya-
bic before the taxes levied to meet it are
fully collected; and thus some oe the
public creditors are subjected to delay in
receiving their dues. This can be cor
rected by providing an earlier day for the
payment Of taxes; or the Governor and
Treasurer might be authorized to antici-
pate their collection, SO far as necessary
for this purpose, by temporary loan.
The consol bonds bear upon their face
the contract of the State to receive the
coupons from the same in payment of
taxes. During the period of adjustment
Of the debt it was impracticable to do so :;
but now there is no reason why the cou-
pons of the Brown consols should not be
thus received. 1t is also advisable as to
this class of consols, that the operation
of the law requiring interest to be paid
in NeY York as we'll as at the State
treasury should be resumed, but it is not
practicable to pay interest to the holders
of Green consols elsewhere than at the
State treasury until after the conversion
of their securities The suggestions
made would promote the convenience of
the taxpayer, and no doubt hasten the
reduction of the consol bonds and stock
to C uniform character. It is also desira-
| BILE, as to both consol and deficiency
stocks, to adopt the plan of the United
States Government with regard to its
registered bonds and stocks-upon the
holder furnishing the treasury with his
postoffice address, the'interest due is for
warded by check upon each January and
July. The punctual payment of interest
and every accommodation and facility
given in its collection enhances the value
of the security. Already under the man
agement of the State finances for the last
! four years its hondn have risen ~ tLe
market from twenty eight cents on the
doiiar 10 par. The financial status of
our State was oace its prondest boast.
If we place it upon the high plane it
occupied before the late civil war and
keep it there, our securities will rank
with any governmental securities upon
the market; and when the debt natures,
rs it soon will do, it can be refunded at a
much lower rate of interest A wise and
prudent policy will keep this end steadily
in view; and. then with the increased
taxable values, which improved credit
and returning prosperity will bring, what
is now bulthen may become an inap.
preciable weight to be borne or dis.
charged with equal facility.
ELECTION LAWS.
The third section of the eighth article
Of the Constitution OF this State, adopted
| twelve years ago, declares that "it shall
be The diity Of the General Assembly to
| nroyida from tinoe To time f1r tha reUia.