The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-11-25

All companies admitted into South
Carolina should be charged at least the
same fees and charges that a South
Carolina company would, by the State
Incorporating such company to do busi-
ness in such State or county. In other
words the comptroller general or !nsur-
ance commioner should be given .au-
thority to grade the charges against
company by those made by the COM
pany's own State so as to make our in
surance law reciprocal as between the
STATES or other counties.
The Comptroller General can dis
charge the duties of insurance commits
sioner but, with his present experience,
inclines to the opinion that an insur-
ance department, either separate or
subject to the control of the Comptrol-
Ter General, would be matter Of econ
omy to the State, and properly guarded
by law, with efficient management,
would increase the revenues to the
State proportionately to that Of other
States from this source.
If the one-disbursing-otiicer idea ad-
vanced under another head should pre-
vail, then there would be need of
sub-examiner, and the Insurance COM
missioner could be given such author
ity as this interest may require. Then
large number Of interests and busi-
ness in, and seeking to come into this
State, that now pay nothing, or conf
paratively nothing, under our laws, for
the support of the government.
Building and loan associations, for
eign land and loan associations cannot
be reached advantageously except by
some system or license, and should be
classed with insurance companies and
made to contribute their portion of
taxes towards the support OF the gov
eminent whose protection they enjoy.
There is also a large interest that now
comes under the law known as that
affecting hawkers and peddler5, which
should be placed under the same con-
dition of law and made to do their duty
as TO taxation.
In concluding this subject, the law
should he so amended that any and
every class of business in, or seeking to
enter, the State, can be reached and
made 70 pay tribute to the govern
ment whose citizens the business seeks
to make money out of or investments
among. This cannot be done except by
some system of business which will
force payment thereof in advance, as
many are ephemeral in character and
vanish from search or sight before the
tax collector can get round.
Let every interest, individual and
business be forced to pay a just, fair
and equitable percentage Of the ex-
penses necessary to guarantee protect
ton to such interest, individual or busi-
ness by the government under whose
Jurisdiction the individual may live or
the interest may live or business be
done.
TAXABLE PROPERTY.
The total taxable property Of the
State for the fiscal year ending 3lst OF
October, 1891, is sl6S,242,679, against
$50, ,6O2, 42l for the last fiscal year. An
increase Of Sl7,64O,2lS over last year.
About so per cent. of this increase is
due to the increased assessments upon
railroads, banks and other corporate
property in the State.
Some complaints have been made as
to this special class of increased assess
melIts, but it is not believed nor has it
been shown that these assess Gents are
above the true value in money Of the
property assessed.
No complaints have reached this
office from the increases on other classes
Of personal property. 1t is known that
the increase comes almost entirely from
taxable property other than real es-
tate.
This Legislature, in my judgment,
should order reassessment of real es-
tate in South Carolina, as it is known
that the average assessment upon this
class Of taxable property is not much
above so per cent. of its real money
value, which difficulty can now be rem
edied only by the authority OF law
coming through the action Of the Leg
stature.
There are, as Ihave good reason to
believe, millions Of dollars Of other tax
able property in this State not now
lpon the tax books, nor can it be fairly
:eached by the present laws promptly
md efficiently.
The fact that large amount OF prop
srty escapes taxation altogether and
hat values are placed so low upon other
makes the burden upon that
lass Of property, honestly returned and
unbearable and vicious, and
lence largely the cause for the loud and
ust complaints against high taxation
rom that class of taxpayers.
With the re-assessment Of real estate
ct the legislature also provide a sys-
enI-a law that will reach any and
very class Of taxable property in the
state.
Let monies, notes, bonds and taxable
ecurities of every class and kind be
cached ard placed upon our tax books.
The ramifications OF that system
hould be so complete and thorough
hat no property can elude its grasp
nd the rich and the poor, the high and
be low-the citizen of South Carolina
f every condition made TO feel, to real -