Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1884-12-04
Affaits ut the State.
GOVERNORS MESSAGE.
EXECUTIVE CHAMBER,
COLUMBIA, S. c., November 26, 1884.
Gentlemen of the General ASsen1bLN:


COLUMBIA, S. c., November 26, 1884.
Gentlemen of the General assembly:
In the discharge of the duty imposed upon
the Governor by the Constitution, to give to
the General Assembly information OF the
condition of the State, and to recommend
for their consideration such measures as he
the honor to transmitthe following message /:
The estimated amount Of the public debt
is almost the same as last reported, the only
changes being the purchase and cancellation
of $1i 900 of deficiency bonds by the Sinking
Fund Commission, and the funding OF So, S93
of fire loan bonds not previously included
among the outstanding securities. The
whole estimated debt is as follows: Consols
(valid) S., 5,464, ,656.77; Deficiency Bonds and
Stocks, $3.50, ,456.29 Agricultural College
Scrip, s19l 800; and bonds and stocks still
unfunded under the Act OF 1873 and the
amendments thereto, amounting, principal
and interest, to about S415,356.96 the whole
aggregating $6,522, ,27O.O2. The unfunded
debt, S415,3569G, includes interest inter unpaid
from July, 1872, to January, 1880, which un-
der Act of 1873 is fundable at par, and also
$624, 49,. .72 of old bonds and stock with in
terest estimated to 1880, and which under
Act of 1878 are fundable at 80 per cent. OF
this last class of bonds, Notwithstanding the
large amounts still unfunded, but few are
now presented for exchange, only S27,00D
having been funded during the last year,
and less than $60,000 in the last two years,
so that it is reasonable tosuppose that many
of them have disappeared and will never
have to be redeemed by the State. The eX-
change of Green Consuls for Brown Consols
has progressed satisfactorily, there being now
but S963, AZ of the former class outstand-
ing, and of which $685. 1896 or 729 per cent.
is invalid. In addition to the debt of the
State. the Comptroller General has prepared
a statementshowing the debts ofevery coun-
ty, city and town, with the character of the
obligation and the purpose for which incur
red. No greater evidence of the progress
and prosperity of the State is needed than
the exhibit made by these tables, by which
it appears that in the short period OF four
wears the Indebtedness of the counties has
been decreased by very neaaly 81 100000 1t
is a matter of congratulation to the people
of the State that by the regular and unfail-
inc payment of the interest on herdebt, and
the prompt settlement of all valid claims
against her, the credit of the State is now
established beyond question, and confidence
in her willingness and ability to meet her
obligations so restored as to place her bonds
at high premium in the markets OF the
country.
The attention of the General Assembly is
called to that portion of the Comptroller Cen
erals Report which refers to the year which
has been lost in the collection of taxes. No
more important question will claim your
attention than that of providing some
method of meeting this emergency. The
necessity of depending upon temporary
loans from the banks to meet the interest on
the State debt, and at time, too, when the
banks may be unable to give the needed
assistance, is much to be deplored, and no
effort should be spared to relieve the fiscal
department of the State from such an un-
fortunate and unbusiness-like position.
During the last Summer, the condition OF
the money market was such as to make IL
matter of serious doubt whether the banks
would be able to allow the advances agreed
upon with the State Treasurer, and, in order
to relieve the pressure as much as possible,
the Comptroller General was forced to suS-
pend for time, the issuing of warrants
to all charitable institutions and general
claimants, compelling these creditors to dis
count their claims, and thus entailing upon
them losses which should properly have
been borne by the State. / will suggest no
method of correcting this evil, satisfied,
as I am, that you will, in your wisdom,
adopt that remedy which is most practical
BILE under the circumstances.
It is estimated that tit will require $372, l95
to meet the ordinary expenses Of the gov,
ernment for the fiscal year 18S4-95, and
1891 1897 to pay interest on the public debt.
The phosphate royalty should yield $l3O,00O,
and there will be in the treasury an estima-
ted surplus ofS124, ,255, leaving but S4S9, ,21G to
be raised by taxation, and requiring levy
of three and a half mills. This amount will
probably be increased by appropriations not
included in estimate for current expenses,
but the rate of taxation need not exceed
that of the last year.
The amount of property returned for tax
alton for 1884 is:
Real estate. so ,oD,o5o
Personal property. III, 9Ot, 40
Railroad property. l5,263,366
Sl49,72 900
This is a loss of 1881 500 on the return of
1888; personal property having fallen Oft by
81 ,345, ,234, while real estate has gained $42S,-
1871, and railroad property $50, ,4O2. 1t is a
notable fact that the increase in real estate,
during the last year, is altogether in the
cities and towns, the returns of country
property having decreased by about $780,
600. That these figures do not truly repre-
sent the value of the taxable property of
the State, is clearly demonstrated by the
Report Of the Comptroller General, which
shows that real estate is assessed at less
than GS per cent of its market value, while
personal property is taxed at less than one
third Of its estimated value. In addition
to this, the Comptroller General estimates
that there are at least 100000 acres of
land which are not upon the taX-bOOks at all,
and this estimate is sustained by the Report
of the Secretary of State on the same sub
Jet. The value of the taxable property OF
the State may fairly be estimated at about
5000, 900, 900, instead of S150,000,O00, as as
sessed. In this connection beg to call at
tention to the Report of the Secretary of
State to the Sinking Fund Commission,
wherein it is shown that there are upon the
forfeited records of the State, and nomlnally
in custody Of the Commission, no less than
$50, ,292 acres ofland, representing valuation
Of $2,503,33l, upon which there are due
the State accumulated taxes and penalties
amounting to S3l3,SGG. When it is remem-
bered that not an acre of this land pays
taxes, and that it is only nominally in pos
session of the State, while the owners re-
main undisturbed in the enjoyment of the
revenues therefrom, the necessity of de-
cisive legislation on the subject will be ap-
parent. Any further abatement of, or re-
lease from, the taxes upon this property,
will act as an encouragement to still greater
delinquencies, rather than as. an inducement
to its redemption.
l would call especial attention to the sug-
gestons made by the Secretary of State as
to the legislation necessary to enable the
Commissioners of the Sinking Fund to dis
pose Of the large amount of land on the For
feited Land Record, and | recommend that
such legislation be had as will accomplish
this much-to to- be-desired object.
Inaslnuch as a Commission has been ap-
hn 20 ln,IS rf tho Stnfn