The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1881-12-01
TIE GOVERNORS MESSAGE.
AN EHCOURiGING REJfEW OF1HE
CONDITION or THE SI.fTE.

neI' Of laying InterCst-1ImTked Succcs4
I'm the Conduct of the Peniieuiiary-In-
cronsc OF Income from Phosphate Royal
ty--Mr. RDcho's Rcrort-Immisr'..ion--
--Raiironds- Comfy support oi
Lunatfcs I.ecuinnt Iidcd-Tho Lien Law
Utner Matters.
lrnoM orE trnisii1ivE EEronrEn
CoLuMBiA, Noycnbcr % The annual
Message Of Governor liagood, read before
9th l.ouges ot tho Legislature ~ day, is as
follows
STATE OF s;nrrm CAROLINA,
observation-disclosures,
CoLuMHI,, November - Isl. J
Senators anI representatives, 1t is by
the Fundamental law made the duty Of tho
Governor t. give % the General Assembly
information OF the condition Of Tie STATE,
and recommend 10 their consideration such
measnrcs ai he shall Judge necessary or ox-
radicnt.
THE rrELfc DEBT.
There IS no lio..ing debt The debt
funded aud being lund,i is :j.Ci1,"2I. This
is au increase ofn litt!e over 5000 ;!pon tho
amount reported last year, and .ises from
tho time having been extended by lcgisla-
ti,c action for the rc.unding Of certain small
parcels of bills OF the Bank of the State,
tie time prescribed ior funding the same.
or the lnblic debt the scrip Of ti' Arri-
cultural College, amounting To Sl0l 500. is Il
permanent investment; the Deficiency bonds
aud stocks, a.nounlng to $JG.,577, mature in
1853; and Cois0is amounting 10 $J--19Ii
mature in 1888. he whole debt bears in
tercst at q per cent.
The board Of commissioners Of the Sink
ing Fund have had during the past year in
their hands applicable to the retirement oi
tho debt 5.7,U.,, OF this amount, they
have only been able to Invest in State So
curitics st par, exclusive Of accrued interest,
$500. There il, therefore, remaining in
their hands of tins date ~. l2c; and lcgisl.
tive instruction is needed rs to tho dispos.
tion of this balance, III well as to the dispo-
sitiOn OF the sums hereafter to accrue for the
same purpose. 1t seems probable that tho
market value of thc State securities will
continue above par, which, under the pres
cnt regulations, the board have regarded ;s
the maximum price they were warranted in
paying.
Interest upon the d,bs is payable before
the taxes levied to meet il arc fully col
lcctcd. 70 avoid suhjccting any of tho
public cicditors TO delay in receiving their
dues. the last General Assembly authorized
the Governor and Treasurer to anticipate
tic collection of taxos, as fnr as necessary
for this purpose. by n temporary loan. The
liberal action Of the different banks Of dcposit
Is. upon each only from date, prevented tho
Necessity Of these officers borrowing the full
amount necessary ut ono time aud Keeping
it on hand until fnly paid out. Tho in
tcrcst paid by the State upon this loan
amounted TO S7l2 81 Authority to contract
loan fora similar purpose will bo necessary
for the ensuing year, or provision should he
made for an earlier collection of taxes. The
interest Is now payable iu New York and
Columbia. 1t should also he payable in
Charleston; and il is further desirable to
adopt. as to both Consul and Deficiency
stocks, tho plan of tho United States Gov.
eminent with regard to its registered bonds
aud stocks Upon tho holder furnishing tho
Treasury with his postof.icc address, tho
interest due is forwarded to him ,ipon
each Jamnnry and Jnly There also
certain minor regulations of tho Treasury
which impede rather than advance tho pnb-
lc business. These arc tho requirements
not only Of receipts, but duplicate receipts,
upon payment OF coupons, interest orders
aud warrants, notwithstanding thcso vouch-
ers arc given up aud cancelled 1t the sainc
time: and the mnking OF the Governors in
dorscmcnt of tho Trcasurers check npon the
bank of deposit necessary before tho public
creditor can receive the money due him.
These regulations nro tho result of law;
their abolition or amendment In respectfully
commended to your attention. In my OBJ
scrvation ii is also desirable that the
Treasurcr's contingent fund should he in
creased by small amount. to enable him to
employ, temporarily, extra clerical force ut
the periods of payment of interest Tho
promptncss Of tho payment Of intcroct, MS
well rs every facility given to its collection,
enhances tho value of u security: and IL is the
obvious interest of tho State to place aud
keep its securities upon the highest plano.
When our debt natures, rs ii speedily will
do, the wisdom Of this course will, am per-
s,iadcd, be realized In tho rofundjng of tho
1 dobt upon tho most favorable terms.
Tho Conso! bonds bear upon their face tho
! contract Of the State to receive tho coupons
of the same in payment of taxes. and this
undoubtedly adds to their value Tho
1 Brown Consols have bcen Issued In lieu of
such GrCou Consols rs have been presented |
for conversion. aud arc In all cases worth |
I their face value. The cca ms from these |
( can be, and nrc, received AT tho tax table |
n Tho tirccn Consols outstanding arc tainted |
& moro or less with an invalidity whic! has |
/; been established by tho Courts, and Is ac.
y qucsccd in by tho holder Tho coupons |
3 from theac cannot therefore be received by
:, tho tax collector, but aro presented and paid |
x at tho State Treasury where access to tho |
= registry permits tho amount Of iuvalidity |
=, IN each coupon to DO aBcortaincd. This |
]ontas a serious amount Of labor upon tho |
5Trcasury, aud il is desirable in tho interest |
AOf the State and of tho creditor that tho |
iaGrccn Consols should, mt as carly dato as |
bo all converted into Brown |
Consols. This process is going on steadily,
sjbut not MS rapidly as tho mutual interest of
Igthc parties would seem to warrant. 1t ia
Stworthy of Your consideration whether this |
5Sshould not bD FASTENED by some action on |
) Che part of the General Assembly, giving |
notice that interest, after date to be fixed, |
siwill be paid only upon Brown Consola
az REVENUES AND ENpnNDITUREs
1854 Tho revenues Of the State for current ex-
Expenditures are derived from phosphate ROY.
agalty and the general tax. In tho last year
thc royalty paid into tho State Treasury has
exceeded any previous year, amounting to |
Sl2l,5il, aud it is proto',lo that the i'm. |
proved condition of tha, ntcrest will con.
sts,nue beg to call your attention to the |
Gcli considered and valuable report upon |
mis- subject of tho special assistant, Mr.. L. |
Y. Roche, forwarded with the snaual report
2i the Commissioner OF Agriculture. The |
Seport Of the Comptrollcr- General, to be sub. |
snittcd to you, will show that the usual and |
ordinary expenses Of the State government, |
aot betrayed by tho phosphate royalty can |
e met by tax levy of but / 40 mills on |
he dollar Tho levy for interest on the pub. |
g debt 2b-!0 mills, is to be added, thus max. |
7pg general lax levy of 9-10 mills. When |
heso revenues reach the Treasury, thoy are |
isbursed in every case under the sanction
sf your appropriation, by heavily bonded |
with clahoratcly provided checks,
ne upon the other. and q monthly exhibit !
made III tio public press of their transac-
lons.
fS4 You viii permit me to again call !
i t4our htis Ion to tho singular contrast
asn tho Arrangement of tho county
snan6es. Tho taxes collected and disburscd |
~ tho count las are tho constitutional school |
SIX OF two mills, the ordinary county tax of
= bYeu sir sEau IN many cases extraordinary
q Axee for raj sfosds or other county Improve.
slSats; tiietofal9 being considerably In ex-
Of Eho amount that reaches the State |
q Ehsbry. Che county treasurer collects |
4 rotains in his hands these county funds,
lftJ IL, t,st,o vi i "a fhhir d;ehnrso,nont