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

manner in which she performs the
duties OF the position and tbelovc borne
her by the female inmates proves the
wisdom of placing woman physician
10 charge OF these unfortunate patients
OF her own sex.
7 commend to your careful consid-
Grafton the carefully prepared and in
structive report of the Superintendent
of this institution.
DEAF AND BLIND ASYLUM.
This institution continues to be al
mirably conducted, and with less COM
plant than any Institution under our
government. The remarkable record
as to the health of the students made
by the institution may be well consid-
cred by the management of other in
stitutions in the State, the cost per
capita for medical attention, ETC.,
being only SO cents, not single case
of serious illness having occurred dur
ing the entire year. Thisis attributed
in large measure to the kind atten-
ton and motherly care given by the
Matron Of the institution. The Super
intendent asks your honorable body
for the following appropriation:
For support. .....................Sl ST. 500
For repairs .................. 1000
For insurance. S74
For electric light plant and laundry
|
Building for colored pupils. 5000
AS to the last two items, I am not
prepared to recommend their appro-
priation. The experience of other in
stitutions in the State with electric
light plants has been rather costly
one, and I see no necessity for such a
plant in this institution. The build
ing for colored pupils may be allowed
to remain as it is until the the finances
of the State can afford new one.
Iwould respectfully recommend the
granting of the other appropriations
asked for. It vii, be noted by your
honorable body that the Faculty of
the institution has been enlarged dur
ing the year and tie institu lion gener-
ally improved.
SINKING FUND.
Under the refunding act, $4,000
per annum of the receipts from phos-
phate royalty is required to be set
apart as e cumulative sinking fund.
T found cash on hand to the credit of
this account, from the last fiscal year,
$25, 27S % nninvested, and drawing no
interest. The governor, State treasu-
rer and attorney general we're made q
committee for the purpose of ofinvestlng
this fund. After trying the markets
of this State and the principal cities
outside Of the State, it was found that
State bonds could not be purchased for
less than 10S and subsequently for 10.
This fund being cumulative, and the
commission having no authority to
cancel the bonds as purchased, I deem
it unwise and inadvisable to purchase
securities whose price was higher than
par, as by so doing We would lose so
much Of the sinking fund as was paid
out for premiums. I Immediately ar
ranged with the banks in which this fund
was deposited requiring them to pay
four per cent. interest from the time
the deposits we're placed with them until
checked out by the committee. We
have since received from the phosphate
royalty during the fiscal year just
closed $93, 30S.71. This is in bank
subject to check of the commission and
drawing interest at the same rate. You
will readily see that this is a more
advantageous arrangement for the ac-
emulation of the fund than it's invest
ment in bonds at premium OF 10 per
cent. Some legislation is necessary in
order to enable the commission to
advantageously invest the fund. I
would therefore respectfully recon-
mend the following section of the
Constitution of the State of Georgia:
"Section II, article VII. The
general assembly shall raise by tax
alton each year, in addition to the sum
required to pay the public expenses
and interest on the public debt, the
sum of $1OO,0 600, which shall be held
as sinking fund to pay off and retire
the bonds of the State which have not
yet matured, and shall be applied to
no other purpose whatever. Ii the
bonds cannot at any time be purchased
at or below par. then the sinking fund
herein provided ior may be loaned by
the governor and treasurer Of the
State; provided, the security which
shall be demanded for said loan shall
consist only Of the valid bonds of the
State, ETC.
If this is made the law OF our State,
am satisfied we can readily obtain
from banks of the State 81 per cent.
interestupon loans secured bya deposit
with the State treasurer of the valid
bonds of the State; indeed, have Of
fers already from the best bankers of
the State to that effect. This arrange