The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1890-06-04
Surplus and
Undivided Profits.
Total Stock, Surplus
and Undivided Profits.
Total return for Taxa
ton, including Real
Estate.

The above statement docs not take in all
the Banks in the state, rs some OF the Coun-
Is Auditors have so far failed to comply with
the request 10 furnish the desired informa-
tion, hut it will suffice TO show that there Is a
very great inequality in the matte of assess
ing property possessing identicasly the same
intrinsic value which should not bc the case,
for "whilc there may be Il difference III Tho
value of mules or lands in different counties,
surplus dollars have exactly the same value
i'm every part OF the state" 1t Will also sui
flee to inform the Attorney General II he mas
not already been apprISrd of the fact, that his
opinion rs to the liability Of Banks 10 pay
taxes on their surplus and undivided profits,
MS well aS the circular of the Comptroller
General, based upon that opinion, has been
set at naught by the Bank officials and the
County Auditors in almost every instance.
Furthermore, it will serve to show to all who
may chance to see IL, that there is very un-
iu>l discrimination in the matter OF the valu-
alton oi property for purposes of taxation
amanst the poor man, who has Ia pay taxes
on his little all, frequently 1T more than lis
true value, and Ill favor OF thc fortunate own
or of valuable bank stock. and that the same
is hcing done in open defiance OF the plain
letter ui the law ~ contained III Section lS
of the RevaCd Statutes as Il ready quoted IN
full. yea. more, that it is being done III opri
drIanrc OF The Interpretation Of that law by
th;, officer whose special duty II Is to make
such Interpretation when called upon TO do so
for the guidance Of the officers OF the State.
whc Attorney General may have been igno.
rant Of these facts heretofore, but lie certainly
cannot avail himself OF such Il plea from this
on and the tax payers will no doubt wait
with no small degree of interest to see what
he Is going to do about ii.
nut what about the Comptroller General: =:
He certainly could not have hcen ignorant OF
the fact that no n gard had been p1id To his
circular hy many of the County Auditors TO
whom il was addressed, and such being the
c;,Sc, 1t seems To me that IL was incumbent up
on him I" have reported the facts to the ains,
rrnOr, by whose appointment these dcrellct
officials HclI their IDSi lions, or 10 the AltOr-
ncy General, the prosecuting officer OF the
state In order that he might institute pro-
c,cdn.s against them for nIa.!caSancc In Of
| ilrc.
| The Auditor of Charleston county, in his
letter tran Ini!t!NG the iutIrGS Gf the various
! Banks uC that county. says. The inard of
.Euilai could no ;":tS'rn for drv la
| 'lI:i. !rn:n Ii!,ir determination for previous
wears. &c. and could hit cnlnc To the deter
"nin#linn that III" surplus WAS moi liable TO
.Lc returned l'r tuNaliuH.
| ADOPTING y0Ur owE language ~ used III an
editorial some TWO years ago. when the atlcn-
ton uI the public W:ls ii st attracted 10 this
| matter, We would say. Mr.. Editor, sis 1t any
"wunder That our people arc dissatisfied
"Arc the capitalists the banking corporations
"anu the railroad corporations dom mating
"thc State" "rHcrc is food Tor thought in
lands Of dollars of just taxation right at the
| doors OF the iradlu@ newspapers Ol Inc STATE
"yet they are as silent us an Egyptian mum
,,my."
| But the matter docs not end with the fact
there Is Il very large amount OF the best pay