The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1890-05-21

Editor Press ana Banner:
1t doubtless will be remembered by major
ity, If not by all Of your readers, that some
two years ago the writer of this was instru.
mental in bringing To the attention or the
public generally, and to the Comptroller Gen.
eral specially, the fact that very few If any o'
the National Banks in the State were paying
taxes on anything more than their original
capital, Notwithstanding the fact that from
the sworn statements OF their officials, the
surplus fund and undivided profits OF many
OF these banks amounted TO more than dou-
BILE that OF such capital stock
1t will likewise be remembered that acting,
upon the Information thus obtained, the
Comptroller General promptly called upon
the Attorney General for an opinion as 10
whether or not these bank surpluses were tax
able and that the Attorney General gave IL us
his opinion that they were.
Another fact will doubtless be recalled. anu
that is. that the Comptroller General, acting
upon this opinion, issued circular to the
several County Auditors of the counties
wherein were located any OF said Banks, re-
quiring and directing them to place upon the
tax books the surplus as well as the capllal
stock of all Banks located in their respective
counties.
These are all facts well known TO the public,
as they were all published ut the time In the
Press dad Banner, us well as in various other
papers ii the State-that is, the letter OF the
Comptroller General submitting the question
to the Attorney General, the opinion OF that
officer, and the aforesaid circular 0t heComp.
lroller General to the several County AIul'
While such is the casc-while the public are
well aware of these facts-there are still other
facts connected with this matter, and when
are of infinitely greater importance to the
people generally, hut OF which they are KEPT
in Olssful ignorance. dnd that is, that IN not a
single instance Sdre IN The case Of TIE dG0ectHe
National Bank, and perhaps one or tlco Others oj
Me Smaller Hanks, ,cas there the least attention
pdid To Tie opinion of the attorney General, On
10 Tie circular Of The Contptroiier General Gy Me
Bnnks. or by ne County Auoitors, 'rhose d'"y Il
icfts to dHcnd TO Uit matter.
Not only were they not governed Mt tna'
time by the Instructions Of the Colnptrollel
General, as contained in his circular.Qaseo
upon the opinion OF ths~ Attorney General
which was sIlIl y. iitn dcCordance with Section
LOS Of the Revised Statutes, which reads as FOL
lows: "Ail shares of the stockholders IN any
bank or banking association located In THIS
| State, &C., shall be listed at their true value
''in money, &c. Prorided That the WORDS
"'true value In money shall be so construed
"as to mean and include nll surplus on cItro
"moncys, capital, and every species of person
'al property of value owned and In the pos
session of any such bank" but they have
persisted in ignoring the same ever since. and
to-day the assets OF many of these banks are
not being taxed at one.half their marker
value.
For the Information OF the public at large
and for the special Information of Attorney
General Earle, who, In his speech at Amer
son the other day, swore by ''all the powers
that be" that II single instance OF failure
to comply with the requirements OF the law
OH the part of any official were brought 10 his
attention he would prosecute the offender tn
the bitter end. beg TO submit the following
circular letter, copy of which was sent to inc
several County Auditors OF the counties In
which are located banking institutions, to.
gether with the replies thereto, which latter
nave condensed in tabulated form: oo
ABBEvILLE, s. G., April l2, 1890.
DEAR SIR--WilI you kindly furnish me n
statement Of the returns made by the various
Banks in your county, viz: capital stock, sur
Sessed for taxation. An early reply will be
appreciated as Il great favor, not only TO my
self, but to the people OF the State, TO whom
the subject Of taxation and equalization has
become one OF deep interest. Respectfully,
A. w. JONES.