The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1891-12-02

cs:ry fo- the Legislature 10 apr"r"l'c the sum I"
$500 pav this .oaH kindly made I" the State with
out interest.
be-: leave 20 cal! yo"r attention, and that Of In
Legislature especially. tho fact that TIE Stat owe"
:. l.r-r floating debt e>!a,cd ct 2. so % II pas
due interest aoEc besides unpaid appropriations ~
for:. above. and I" The further tact that the ="
called 'treaSUry reserve fund is practically = myth
representing for III" most part debts and not credits
the State. The s;l;ng f1A portion of what cunsti
tuted ;e oricna! 'ir,Sugy reserve fund. a:n"untn:
! To Sii5i IS when the Act passed in l>>l. IN
since been expended &s | understand. under law
governing The sinking iGnd in ..aynent Of warrant
drawn against il by the board Of commissioners Of h'
sinking fnrd. The direct tax fund portion under Ac
"f ISM. am"antin" originally TO S39:ii -. (tht
amorn: received from C"!grcss.) has been reduced t.
: >.i33 :. by payments upon the warrants OF III;
law.
The interest on the unfandcl bonds HIS been re
dmced gradually Is the funding in Brown cHn."!s pro
.rrsscd Il So I95 - estimated. Bat il should bt
borne in mind that these arc in debts the stat,
owes. and do not constitute fund practically held !:
reserve in the State treasury.
The only available m:Gy create reserv. fInd is Il
raise actual mnecv hv taxation or by the sale o.
State securities and then hold it in reserve for The
Special purposes FOR whcn il was created. reserve
fund is realty uecdtd TO meet th. large 'l"atnS deh
OF the State CONFUSED principally Of past due but uA
called for interest and interest untundrd bonds. cs
tila:ed be $2,l 800 o.. besides unpaid apar"pria-
tions. 1t would perhaps better satisfy the people
the State il the Legislature W"uld hav" this rrscrv,
fund investigated by competent committee. ,
Ii j. surprising that N" consolidation does not pro
crcss more rapidly and That the past due interest La:
NOT h,r, c,lld for Sr,na of il may meyer h,. caIl.d
for However. a demand is liable to be made uIo!
the treasury at any for this money. and yet il
has been the POLICY of the Legislature ignore the
danger and raise barely enongn moacy 20 meet the
current expenses Of the State and depend upon Dor.
rowing TO meet any such emergency. l feel it my
dutv respectfully submit that this is not the wlseSt
policy especially ~ this time when 30 lar@e part
the State debt is nearing maturity and when it is
more than ever incumbent uou the State to see that
her treasury is provided with ample innds to pay
PROMPTLY any lust claims against her
| EEFrNDlNG OF THE coSsoLs UNDER TIE ACTS OF
1889 AND 1890.
coIf:lcd win Instructions gwen me IN Ihe ;ncs
aaG ha" proper h"Hces inserted IN newspapers. ~
50 had c:cnars and copies Of the Act printed and no.
tIce gwen that they could De hSd upon Application hy
aFtcs deSf!N: ihi"rnatloh' ana nave sent our 'als'
ties are furnished with this report also had pre-.
',eu VIII IN na.ii e.ie ''s , r
H ~ To-, m -. ,ts ,i.S f ,b, onl,," Of ~ c.,
rnmr and Sncrntorr NJ tb S,otn An orra.n,nn, ws
n,nreT ~ ~, Vii :L. a,no.;con P.nL N,o cn,,,o, =
~ ,nrnish tha -crcss.rr Mice and to nncravn tb
bonds and stock certificates as needed have order.
ed aad pad for only three hundred one tbonsand-oi-
ar bonds. three hundred FIVE hundred-dollar bonds
and two hundred and fifty stock certificates reservnS
orders f"r further supply as may be reQnrcC from
time 70 time rs r-funiing progresses.
Until july 1892 tie Office is restricted to the syS.
TEN of exchanging the new per cents for the Brown
consolS
But li:te progress has been made in exchanging.
Only S29 5 20 of new Der cent have been eXchang-
ed for an ,Gu.l amouDt af Brown consols Under the
rigid requirements of the Ac. an afraid not many
exchanges will be effected PROPOSITIONS were made
which. ii authority had been given me 10 accept,
hsnt nav tesutteu res at; III eAcu'=s one n''iio' u
am not seeking responsibility. but | respectfully
submit that perhaps Wider discretion should be CIV
en- to the GoVernoT ana treasurer taan allowed IN
,ue ;ict rs IL s'nh"S. III tue p"Ss!oie event oi ne
h"i"es "l tle brown cOhsols ueciNihe 10 make VOL
nnta;E eXenanse or the new per cents such ptDVis
",I sno,'iu W l'ie ~ WI 1"e s''.e =! ..e
pc. ISnts ~ of.e; IVA. tio No.
;HpE ~ 500 @ "a '''' ~
-" .,..;o.;o, 81 s,,as sbor,d cleo Ia mod. cr
,bo ,.,no,, If ,h a;tfr.,co oc . na- cont in infer
eS0 require" III Inc Ae'.
CLEMSON EEorrsr
The variety character and condition of the assets
of this beQueSt give the treasurer and his assistants
.uen M m .'ono!t ana increases very sreat! ms r'Sol
made an executor in this case and responsible for the
management of IN estate, some of the securities Of
which are PAYABLE in another State and some arc
against parties in different counties in this State.
cured by mortgages property, concerning which
know nothin" OF own knowledge. See table No. 9 for
detailed statement
Inns arc mast dne TO settle bv November or the
claims VIII oe "ceu IN tHe naHus VI .ne 80.
Genera! AZ, Eo''ee'.o' III, ..:s1'''''' N''e W '
al! tie iuhuS III o''.' se."'' .,, ,,
lrespectI1iI! ask Iua' t"e LrS's.'lui. WI. 'uo'
lie the speedy conrr!s'" VI an '''tes' CIV. 'o
the investment VI 'n's '"'o - Ptee W S1''P sum %
the land script.
LAND SCRIPT.
Tho -.orircrnc,.s und,r Act of 1850 No 100 in re-
gard TO inc IAN" sc! G ,h oS Sn,b Co-oii.
BOARD OF 'Vus.see y! ~ ;.,'i L.,a 49,, bonr"hio
ma, 70 WHOM .ie SI''P 80, .' 80: 80 ~ S-.,I NV ~
to produce II ioF SoiiIe:i"io'; ~ IN
State treasurer couu ''"t iss"T '.e ~" '0'P. " M
thereof to the trustees oi thT Ch'n!sl'y "n9 'I
tees Of Clemson Soie-e. lnis oilCe no'us t"e ie
ceipt Of ". D. simpson, president OF tue trustees q!
the University of South Carolina, Tor this missing
scrip,
If it is impossible to find this scrip as seems to be
the case it might be we'll for the Legislature never
theess 20 authorize the issue OF scrip 70 the Two
boards of trustees respectively and at the same te
paovide for converting ths Censoi oeques' INTO siii
lar scrip.
PRIVILEGE TAN.
The collection oi the privilege taN o. te'thZtls
was imposed upon inns ONCE py ac' oi Decs.a't a
1890 Table No. 6 exhibits the amount collected by
this office and from what companies. and also the
by sll,249 29'
Eso'tf'Aihp hSiAAh = 'tf>
r.,o.- roca;vaI from, A " Jones