The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1894-02-22
AUDITORS REPORT.
MR.. FURMAN'S INTERESTING
DOCUMENT.
Some Facts and Figures That Make
Valuable Reading---A Brief Resume
of His First Years Work and What
it Reveals.

Raleigh Observation-Disclosures
We are indebted to Hon. r. M.
Furman for copy of his first annual
report as Auditor. In his letter
transmitting his report to the Governor,
Mr.. Furman says that the act of
Assembly requiring Building and Loan
Associations doing business in this
State to have an agency here, has
worked 10 the advantage of the
people. He states "that the business
OF such associations is rapidly growing
in this State. 1t is not an unhealthy
sign that such is the case. When
honestly managed it is one Of the
most useful agencies for the encourage
ment of economy and the securing of
homes by wage-earners and those of
limited incomes that has ever been
devised, as long experience in other
sections has proven. To encourage
the people to own their homes is one
of the first duties of the State, as thus
fixing their interest necessarily en-
hances their love of State and makes
them better citizens. Such agencies,
therefore, should be encouraged by
the State by just laws, but with rigid
regulations required alike for the pro-
lection of honest associations and of
the people who patronize them. The
act of the last Assembly had the effect
to retire from the State number Of
companies, very large majority
of which, | am sure, we're fraudulent
concerns. In this respect our people
have been largely benefited by the
recent legislation. Other legislation,
as to some details of administration, is
necessary, which will be suggested in
the next annual report"
He finds that there has been con-
siderable decrease in property values
outside of town and railroad proper
ties. In lands there has been a
decrease of SIS 1000; in horses and
mules of s7I1,ooo in cattle, hogs,
sheep, ETC., s5o5,ooo. Money on
hand has shrunk 81 1853, 900, solvent
credits have decreased 5000, 900, while
farming utensils and other personal
property show loss of S2,272,ooo-
a total decrease of S6,776,ooo.
Town property, however, shows an
increase of $4,000 stocks. in
incorporated companies of so64,ooo,
and railroad property of s4,5oo,ooo,
and these items nearly balance the
loss in value above stated.
The total taxes he finds run up to
S1,395,S95, and of this amount the
agricultural classes paid about $780,
600; the remainder being paid by
town property, and corporations and
stock companies.
He states that over $4,000 of the
above receipts were expended for
educational purposes, and 100000
for pensions for soldiers and their
widows.
He mentions that the rate of tax,
alton has decreased until now our
people pay the lowest rate on the
lowest valuation of property of any
State in the Union.
AS for the Executive and Judicial
Departments he says they are SC
economically administered that the
fees and special privilege taxes col
lected jn-the Executive Department
are very nearly enough to pay fol
them. We quote from his report:
make this statement, in connection
with others, to show that, since 1870
constant and successful endeavor has
been made by those entrusted with tn,
control of affairs not only to reduce thu
burden of taxation ON the people, tt
lessen the expenses of administration
but to place the burden where it il
least felt and can best be borne, ant
apply the moneys collected where they
will do the most good for the masses
and objects of charity. Thus, in 1868
1869 and 1870, when taxes for public
Or common schools, to the amount o
more than three hundred and fift,
thousand dollars were collected on {
very high levy, and less than forty
thousand dollars were actually spen
br the education of the children of tn
State, the Legislatures, since 1870
having consistently reduced the rate Q
direct taxation and SO appropriated fh
moneys collected until this year
covered by this report, nearly eigh
hundred thousand dollars have bee
expended directly for the education {
the children, of both races of the State
a record in both directions which ar
sure the people will commend.
l invite attention to statement No
9, it being a comparative statemen
of the value of real estate in this Stat
as returned by the owners thereof t
the United States census-takers il
1890, and the value of the property a
appraised for taxation in 1891. Th
discrepancy is astounding, and ca
only be accounted for on the groun
that the census table shows the valu
Of the realty as the owners theret
believed it to be, while the other tn
value placed upon it by appraisers ft
the purposes Of taxation, following a
unwritten law to appraise property :
only two thirds of what they think i
real value to be. In this instance
is appraised at only about one-half
what the owners thought it wortl
4 Aud Notwithstanding this correspond
t insly low appraisement, as suggestt
elsewhere, the rate of direct taxatio
d for general purposes is lower than tn:
imposed upon the people of any 9th
t purely agricultural State.
b There is no doubt that agricultur
Il lands have decreased in value in t
u last few years. This decrease, a
the increase in values and 9th
1 attractions in cities and towns. accou
y largely for the seemingly growi
p preference for town life and pursu
over country life and pursuits. on