The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1891-01-09

pay .he interest on the per cent.
bonds (S720 000 for the reason that
the lease Of the North Carolina rail
road provides fund for the payment
Of the interest thereon, and the State
holds three million 10 the stock of the
road, which if sold, will much more
than pay the principal. Practically,
therefore, the debt Of the State
only to s3,219, 900. The
Board of Education has in hand the
sum of $40, S34. So and holds in per
cent. bonds. from which it receives the
$50 $50.
The account Of receipts and dis
bursements of said road since Decem-
Der l, 1888, is as follows:
RECEIPTS.
1883, Dec. 1, bal. in hand, $50, ,439 so
1889, Nov. 80, cash, II 265 56
1890, Nov. so, cash, 23,757 90
Total, ss6, ,463 %
DISBURSEMENTS
1889, Nov. 80, 31,OS1 Sc
1890, Nov. &c. 9,O47 l3
5 4O,l2s 9S
Balance in hand. S 26, S34 so
The general account Of moneys re-
ceived and disbursed by the Treasurer
is as follows:
1885, Dec. /, balance, S 1852 Al
1889, Nov. 80, receipts, 972, ,761 81
1890, Nov. 80, receipts, 1,1S3, 303 7S
Total receipts, s2,202, 657 As
DISBURSEMENTS
1889, Nov. 80, s1,Ol3 1888 Sc
1890, Nov 80, 1,O51, ,931 81
S2,O65, ,314 95
Balance, S 137, 342 55
| The estimated value Of real and per-
sonal property in the State is 1927, ,000,.
| 900, gain of about ten million in the
| last two years.
Notwithstanding the necessity for
new expenditures which the present
condition Of the State may require, it
will not be necessary for you to in
crease the rate of taxation, in case YOU
make provision to have the property
OF the State fairly valued, SO that in
every portion OF the State it may be
taxed according to its cash value in
the particular locality in which it may
happen to be situated.
The Constitution requires that laws
shall be passed taxing by uniform rule
all moneys, credits, ETC., and also all
real and personal property according
to its true value in money
Uniformity of taxation requires that
there shall be uniformity of valuation,
and that uniformity must consist in
valulng the property Of the State accord
, ing to some well-esta blished rule iu
l every county in the State. l have been
5 informed that in portions Of the State
t the rule laid down in the Constitution
e of valuing property according to its
t true value in money" has been approx
e mated, whilst in other portions property
has been assessed at only fractional
5 part of its value.
G So far as county or city taxation is
q concerned, the rule adopted as to valu-
alton, if applied with uniformity, makes
but little difference, for if property is
: assessed at or near its true value the
: percentage of tax will be less; if at
! only fractional part Of its value the
. percentage will be greater, although the
! same amount Of money is raised in
Is either case. But when you come to
! State taxation it is different. If the
! assessors in one county value property
at its true money value, and in another
county at only one-half of its real value
le property of the same value in one county
a will pay Just twice as much under the
d State levy as in the other county. This
10 is injustice, and ought to be remedIed.
Is There will be new assessment dur
le ing the year 1891, and now is the time
n to remedy this evil. If done at all, i
ID must be done by your honorable body
is The simplest plan would be to use tht
70 County Commissioners as a COUNT
ds Board and establish State Board 70
le the equalization Of values between th
he different counties of the State. Let
i'll consist of the Treasurer and Auditor
"a who are thoroughly posted in such mat
id ters, and one State assessor from eac
y, Congressional District in the State, t
lr- to be elected by your body, who shal
as meet at some time aid place selected b
"a you and equalize valuation throughou
ne the State.
Give the Board the power to add or
deduct from the aggregate value Of rea
property Of every county which it sha
eId believe to be valued below or above il
true value in money, such per ceutuI
ad as will raise or deduce the sam to il
no true value in money, and give them tn
le further power to raise or deduce the va
eo uation of any property such per cent &
tie they shall believe will reduce or raj.
oV- the same to its true value in money.
IL A system similar TO this, have bee
er informed, has been adopted in son
eu OF the States of the Union is workir
~ admirably.
III EDUCATION.
inh If one can credit the words whic
ne are constantly being uttered throug
oh- out our State, there is no part of Il
vas Globe where education is dearer 10 Il
rtil hearts Of the people than in Nor
est Carolina.
out If the farmers Of the Constitution
II our State are to be credited with u
OF derstanding the words which tn
IL Incorporated into the fundamental Ia
urt they too had fully imbibed the prese
ia spirit OF our people upon this most il
ma portant subject.
obS That Constitution provides that
lcn each school district of the State 20
u I.li h -. ,ai