The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1897-02-09
600, as interest to tho amount OF about
Sl4O, 600 and outstanding appropriations
have had to be paid.

600, as interest to tho amount OF abou
Sl4O, OOO and outstanding appropriation,
have had to be paid.
In making the appropriations for the
current year at this session this fact
Will have to be considered. and when
the next taxes are collected they will
nave to be used in part on the 1st OF
Jaeuary, and there will not be the en-.
tire taxes raised on hand. So twill be
be seen that, unless the State wants to
| run behind year by year and get in
possible trouble, the tax levy for 1898
| will have to be five or five and quarter
mills. This is what those who have
most carefully considered the matter
have to say about the question. 1t is
either five-mill tax levy or over, or a
deficiency, or a resort to some other
means Of raising revenue than those
now In force. 1t is to be remembered
that the State has entirely lost it's
revenue, so far as general expenses 60
that formerly came from tho phosphate
royalty.
Comptroller General Norton has been
warning the General Assembly of COM
ing to this pass, and in previous mes
sages he has advocated tho raising Of
revenue from other sources than a
direct tax. In the first place he thinks
that about $25, 900 can be raised by tax
ing the insurance companies Il to III
per cent. on their gross business in tho
State. This, he thinks, would be &C
cepta"le to tho insurance companies
rather than pay the State, county and
city taxes on their business separately.
he has no intention, in this plan, ho
says, to impose any hardship or injus-
tlce on the insurance companies, and
on the contrary he thinks the plan he
Or fOnOSpS will ha anita npnnntobla
Then he thinks it would be good
idea to require State license, as is
done in Georgia, for dealers in cotton
and other futures.
Another idea Of his is that there are
persons in the State who ought to be
required to pay q graduated income
tax on the grounds that they receive
the protection of the State and its laws,
and have their Investments in such
shape that they cannot be reached by
direct tax. This plan, he thinks,
would reach the Pullman palace car
people and others who now take con-
siderable r.oney out OF the State and
do not pay the State any taxes what
ever. Such graduated income bill
he estimates would bring into the
State from $4,000 to $15, 600.
Another source Of revenue could be
from professional men who como into
the State to do business in competition
with those now in the State who pay
their taxes.
In word the tax levy for 1898 will
have to provide $3.50, 600 moro than is
INCLUDED in the current appropriation
Oils, unless some provision is made for
an additional source OF revenue, or the
tax levy will have to be five mills or
over for 1898 to keep the State on a
cash basis.
The estimates, on which the ways
and means and finance committees say
they are waiting are incorporated in
the annual report of the Comptroller
General. This report was handed to
the State printer just as soon as it
could be possibly made up, and as it
Is heavy and difficult report to get up
on account of the many tables, it has
not yet been handed to the members.