The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1896-01-22

IL IQlB IGSpcCI. VIC Wou1u UA1A a"'S
one central authority, with no local in
huences that could be brought to bear
upon it. The same difficulty exists MS
to the method of taxing insurance COM
panies. T would respectfully recon-
mend that in lieu OF the present sys-
tenn of taxing net premiums received
in the various counties, which is almost
impossible to get at, fixed per cent.
of such gross premiums be required to
be paid direct into the State Treasury,
and, if necessary, the proportion ad-
justed between the several Counties.
Under the terms of the new Constitu-
tion the General Assembly is authori-
zed to impose q graduated tax on in
comes and on professions and business
occupations. It is hardly necessary
for me to argue to your honorable
body the justice of an income tax. It
has been advocated upon every stump
and throughout the entire Union as
the most equitable system of taxing
the rich in proportion to the poor. 1t
is impossible to devise system that
will secure just return of personal
property. It has been the dream of
Legislators and statemen for years, and
we are no nearer q solution of the
problem today than we were o century
ago. I believe an income tax will
greatly assist il solving the problem.
The present time will be known to his
tory as the great bond era in the histo-
ry of our country. As wealth becomes
centralized its power is brought to
bear, with allits corrupting influences,
to obtain nontaxable securities. The
citizens of towns and cities and corpo-
rations require more protection from
government than the rural population,
and it is but proper that they should
bear a greater proportion of its bur-
dens. Under the law money invested
in State and United States bonds is
exempt from taxation. The stock OF
banks and corporations is exempt in
proportion to the amount of their cap
ital invested in State bonds. This was
intended to encourage the banks to as
sist the State in refunding her debt,
and yet not one would come to the
escue at the critical moment and we
we're forced to sell the bonds in for
eigp markets. Since that time, how
ever, the banks and investors of the
State have purchased them, paying
large premiums for them, until now
almost the entire issue is owned in
Charleston and other cities of the
State. This capital can only be reach
ed by an income tax, and respectful
ly recommend to your honorable body
that graduated tax be placed upon
all incomes of one thousand dollars
and upwards, and that County Audi
tors be given full authority to hear ev-
idence and resort to such other means
as to your honorable body may seem
expedient to obtain full and accurate
returns. It will be necessary for you
to provide for the payment of the sal
ary of the various School Commission
ers and other expenses for collecting
and disbursing school funds out of the
general taxes as the Constitution pro-
vides. It will be unnecessary for the
expenses of the State Penitentiary and
the Dispensary to be paid out Of the
general fund, as both institutions are
self-supporting. I would, therefore,
recommend that in your appropria-
tions for these institutions you speci-
fcally state that such amounts be paid
out of their earnings to be deposited
in the State Treasury for that purpose.
CHARITABLE AND PENAL INSTITUTIONS.
It is always pleasure to the Exc
cutive to visit the State Hospital for
the Insane. This institution ismanaged
and conducted in a manner that must
satisfy the most hypercritical. While
the amount of the appropriation asked
for is apparently greater than that for
the preceding year, study OF its de-
tails will show that a reduction has
been made in the per capita main
tenance from S123:37 last year to
$116.76 for the present year. You
will see from the recommendation OF
the Board OF Regents tina: ar effort
was made during the past year to pur-
chase the Wallace property, consisting
Of 1Os acres of land, adjacent to the
Hospital. The price agreed upon was
$25, 900, which the Regents expected
to pay out of the sun appropriated for
the maintenance OF the institution,
covering period Of eight years. l
could not concur in such on arrange
ment, for the reason that believed
it unwise to establish the precedent
whereby the Board Of any State in
stitution could increase the public debt
of the State to such IN amount without
express authority from the General
Assembly. Ii the Board car purchase
such an amount OF property upon no
other authority than their own. they
could to an unlimited amount involve
the State in debt. I deem it advisable