The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1882-11-30
THE PUBLIC DEBT.

s3 BEG leave to submit my annual Message
PUBLIC DEBT
The debt funded and being funded s6571 s25 This ia
the amount reported last year-tlo Sukpp Fn,1
having retired by purchase cancellation 81 3Go d
additional stock having Issued by Joint
II the last Legislature.
Ofte public debt the scrip of the agricultural Colleges
O permanent investments the deficiency and stocks
amounting s5Ol922 mature in 1885, and conso amounting m
in 1893. The whole bears interest at nor
T is promptly accrues paid in Columbia (b,r
and York If the holder of State desires it. and furnishes t
Treasury with his posofce address, the forwarded to
him upon each January and July The securities of the State od
vpoa market above par We floating debt Current
they met with funds there is balance
4ds9So7 in the Treasury awaiting your disposition
The Of brown in paymen of
There good why the coupons deficiency bonds should NOT
bevab like put all the creditors CT the State
on ong and the holders of deficiencies are largely our
own citizens would add their convenience while it enhanced tho
value this class of bonds respectfully this measure to
Il your confederation.
REVENUES AND EXPENDITURES
The h State for expenditures are derived from
earnings of the Penentiary from phosphate royalty and
general The Peniteniary paid the Treasury last
year 10000 The phosphate royalty steadily increapg during the
past amounted 254-beng SIT 900
upon the preceding year.
the report of the Comptroller General you that the usual
and ordinary expenses of the State government betrayed by the
phosphate royalty and the surplus the Treasury
the income from the Penientar be by levy of vetens
anil upon the dollar Of taxable values The levy for
public debt hrce and oneenth ml) is be making
general tax levy of three and x-enths mills.
Interest the public debt payable before
fully collected To avoid subeng any public creditors to delay
receiving their dues the Legislature has for the last years
annually authorized temporary loan anticipation of the The
liberal action Of the banks of deposit permitting
requiring interest each only from date has enabled the Treasury
effect the accommodation at trivial expense Authority for similar
purpose will be necessary for the and for each ensuing year. The
ednt well enough while the money easy but with
the of financial panic might be difficult accomplish
The public credit of too much the welfare of the State
be thus jeoparei The debt will mature
more favorable rate interest end be kept steadily view
failure promptly the interest under any circumstances would
jurousy affect this purpose Again. paid mannuay
and the first payment OPTIONAL the being charged interest
ne dFs payment OF his whole lax ill time Ct Tie second payment
Under these circumstances collection of the for
interest before the DUE make the first
annual of compulsory and then for increase
The tax levy sufficiently raise the for which, in the experience
the treasury has been found necessary make drafts the
banks We experiencing period exceptional prosperity and
there will be better time accomplish this desirable end If the
commens itself your honorable body the additional
@ raised this will be about 100000 and will necesa the
addition $40 mills 61O mills previously estimated The whole
tax levy will then 40 mills The levy for last Al mills
Will still be for longer authorize the temporary
oan because the first of interest for 1884 will occur before
any part of the authorize collected and will have to be
met out OF funds the Treasury which not sufficient Tor the
purpose and at the time the government until the
lakes OF 1883 are collected.
On the st November 1881 800 cnvc in the Penien
u At the date this year the number S vi these "
were colored and 46 white Of the 824 24 were leased upon
phosphate work. were leased upon railroads. % upon the seeges
am and 454 within the walls of the O those within Inc
prison 81 work with making Shoes l2o at WORK
the Columbia canal and the remainder various empoyment
The lease subjected rigid surveillance by the
authorities of the Penenary and satisfied that during the year.
Doth within and without the prison. they have been well % properly
cared and their of penal servude humane
large amount of work has been done by labor upon i'm
Pfovemens and extension of the Penentay ITSELF numoe
and have been worked the Columbia canal and an
me suPerintcndents Report exhibits the following
balance hand at the beginning of the year 299 earnings
@ the s94236 expenses proper of the Penten'ary
per diem and mileage of Board of Directors s0 pa on
soSt paid into State Treasury sOOOO and remaining
superintendent $14901 This last amount is in cash ana oaA
notes given for convict abor disposition awaits your direction
lhs exhibit contrasts favoraby with tho management OF n
In period from 1868 1876 Then, beside the " luz
required annual appropriation OF So0oo w m
e Treasury institution In the health geera aPP