The people's journal. (Pickens, S.C.) 1891-1903, 1896-01-23
THE GOVERNORS MESSAGE.
CONTINUED FROM FIRST pAGE.)

into the State treasury, anu, IL heoces-
sary, the proportion adjusted pet"een
the several counties. Undcr the Terms
~ tho new constitution the General
Assembly is authorized to impose u
Graduated tax on incomes and on pro-
fessions and business occupations. 1t
Ia hardly necessary for me to argue to
your honorable body the Justice of an
Income tax. 1t has been advocated
upon every stump and throughout the
entire Union as the most equitable
system OF taxing tho rich in proportion
to the poor. 1t is impossible to doviso
q system that will secure o just return
OF personal property. 1t has been tho
dream OF legislators and statesmen for
years, and we are no nearer solution
OF the problem today than we wcro u
will greatly assist in solving the prob
lom. The present timo will be known
to history as tho great bond era in tho
history OF our country. as wealth be-
comes centralized its power is brought
to boar, with all its cOrruptiLg inlu-
cnccs, tc obtain non-taNablc securities.
The citizens Of towns and cities and
corporations require more protection
from govcrnmet than the rural p0pula-
tion, and it is but proper that they
should bear greater proportion OF It's
burdens. Under tho law money in
vested in State and United States
bonds Is exempt from from taxation.
The stock Of banks and corporations is
exempt in proportion to the amount Of
their capital invested in State bonds.
This was intended to encourage tho
banks to assist the State in rcfunding
her debt, and yet not one would come
to her rescue at the critical moment
and we were forced to sell the bonds
in foreign markets. Since that time,
however, the banks and investors OF
tho State have purchased thcm, pay
ing large premiums for thcm, until
now almost the entire issue is owned
in Charleston and other cities OF the
State. This capital can only be roach
cd by an income tax and | respectfully
recommend to your honorable body
that Il graduated tax be placed on all
incomes Of $1,000 and upwards, and
that county auditors bo given full au-
thority to hear evidence and resort to
such other means us to your honorable !
body may SOON cXpcdient to obtain full |
and accurate returns. IL will be ncceS- |
sary for you to provide for the pay
mont OF the salary OF the various school
commissioners and other expenses for
collecting and dirbursing school funds
out OF the general taxes rs tho COnstitu
tion provides. 1t will be unnecessary for
the expenses OF tho State pcnitcntiary
and tho dispcnsary TO be paid out Of
tho general fund, us both institutions
fore, recommend gthat in your appro-
Driati0ns for these institutions you
specifically state that such amounts be
paid out Of their earnings to be de-
posted in tho State treasury for that
purpose.
PHOSPHATE INTEREST.
This industry mas never recovered
from the cyclone OF 1893, and | fear
never will. We have no longer u
OF the business, and tho dis
;overy OF phosphate rock in Florida,
Tennessee and A gers has made com
petition very lively. The report of
Phosphate Inspector Jones Is gloomy
and disc0uraging, but fear MIR. Jones
takes too pcsimistic q view of the situa-
ion.
The State received from January,
1874, to January, 1895, SG2, ,S9S.3O, which
vas placed to the account Of the sink
ng fund. From January, 1898, to Janu-
ny, 1896, the receipts were $9l ,53227,
which also placed to tho credit OF the |
linking fund. Besides there was $l,
1892 received in November and Do
|
rcdit OF the general account in tho |
making in all $95, ,60l.1 10.
There is now due and unpaid by the
phosphate companies tho sum Of $l4,-
)l9,55 royalty upon rock actually mined
ana sold This added to tho above
amount gives 500, ,7J07l, the amount
that should have boon received from
january lst, lS9o, to January 1st 1896,
representing an outpout Of PIC, ,420 tons.
Ihc phosphate royalty received for the
fiscal year ending October 3lst, 1892,
was Sl52, ,2S6.l0. This upon u royalty
OF 81 per ton. Upon tho same royalty
We would have received for the past
fiscal year $2l9,42l As.
IL must be taken into consideration
that the State receives royalty only
from rock actually sold and delivered,
ana not from that actually mined. We
are dependent upon the honesty of the
companies and the ability of the phos-
phatc Inspector to ascertain the amount
pald and received for tho rock for our
estimate upon which to claim royalty.
LAST year was Il disastrous one for
phosphate and fertilizer companies
everywhere, caused by short crops and
still shorter profits. Unless the situa-
tlon has greatly changed since my in
spectlon of the phosphate interests
iast spring, am satisfied that it would
De unwise in your honorable body to
accept the recommendation Of the Dhos-
Phato Inspector to reduce the ROYALTY
10 70 cents per ton. | have heard or
no complaint from the phosphate com
panlos on account OF the ROYALTY, and
am satisfied it is low enough, for the
present at least.
There is now duo and unpaid by phos-
Phate miners royalty OF the past and
previous years to the amount OF $iS,-
O9!.7 This amount should have been
paid into tho treasury, and have inn
pressed upon tho officers charged with
It's collection tho necessity OF recurring
It's prompt payment. The companies
sre oil under bond, however, and no
langer need be feared as to its ultimate
payment.
CHARITABLE AND PENAL lNSTITU-
TIONS.
1T ls always a pleasure to tho ex-
scutive to visit the State hospital for
'he insane. This institution is manag-
'd and conducted in manner that
nnst satify the NEST hypercritical.