The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-29

present
show loss Of nineteen millions dollars of
valuation, as compared with the returns
Tor the previous year. While This Is to be
regretted it is scarcely to be wondered at
when we consider the depressing effect
OF the panic upon business and property
values everywhere.
THE NEED OF 4 NEW ASSESSMENT
LAW.
In reference to the value OF property as
SHOWN by the controller generals report
gathered from tax returns il is nv duty
10 say 20 you that ii does not ipproXi-
mate the real market value of the prop
erty OF the citizens of the state subject
to taxation. Under the present svsfem
81 making tax returns outside of where
the returns are affected by local assess
ment system of towns and cities each
man is his own tax assessor and places
upon his property such value as he sees
IT, even himself in many instances con-
Tossing that the amount at which it has
been returned by him for taxes bears no
approximate relation to the real value
OF the property. While the legislature
nominally fixes the tax rate for the state
10 be collected from her citizens, each
citizen has the power to fix his own tax
rate, and many Of them do fix il at an
unJustly low rate by placing a value
upon their property far below its value
and on a scale much lower than that by
which the property Of their neighbors
Is valued. The man who pays taxes
upon property unfairly valued at $780,
While on property of the same value his
nelghbOr pays on $1,000, is lowering his
own tax rate one-half depriving the
state or its Just revenue, and placing an
unjust burden upon his honest neighbor
who values his property correctly.
l most earnestly recommend that some
plan be devised by which the state can
arrive at something like a just valua-
ton OF the property of its citizens suD-
gect TO taxation and protect the man who
honestly returns his taxes against impo-
sitions from those who return their prop
erty at an improper valuation 1t is well
TO bear in mind that any plan which you
I'D xrrfH In, I
operation, prove imperfect, but as these
defects appear it will be the duty of your
successors to correct them and continue
to perfect the law. Certain IL is that
no system which can be adopted can be
open to greater abuses or more fragrant
injustices than the law under which our
proper plan for assessment of property
for taxation will not only equalize values
but place upon the tax books a vast
amount Of personal effects which now
escape taxation. In connection with this
recommendation ! desire to suggest that
you authorize the controller general tc
prescribe and furnish to the tax collect
ors and tax receivers of this state such
books as in his judgment should be kept
by them, and to prescribe rules directing
how these books shall be kept. This. vii
enable him to require the business of the
state conducted by each of these OFF.
GERS to be conducted in systematic
and business-like manner, and will re-
suit in a large saving TO the state.
TREASURER'S REPORT.
The report of the state treasurer viii
give you ample information as to tht
conditions Of our finances. By reference
TO this report ii will be seen that under
the law enacted by your honorable body
at its session in 1894 providing for The
quarterly payment of teachers that thu
treasury will have a severe strain Z
bear The payment, soon to be made
will require the treasurer to advance
to the school fund about 100000. l re
specially suggest that your finance com
mittee make close inquiry into the effec
of this great draft upon the treasury
and that such legislation as may be need
ed for its relief, If any, be enacted.
STATE REPOSITORIES.
Soon after coming into Office 1 under
took, in conformity with the act Of 1873
TO make an arrangement with the va
rious repositories providing for the pay
ment of interest upon the public funds
entrusted TO them. AS result O.
this effort / consummated contracts witt
an of the banks but two, which two re
signed rather than pay the interest, which
contracts provided for the payment o
interest at the rate of 2 per cent OF
aally balances from March l. 1895 Il
March !, 1886, to be paid semi-annualiy.