The people's journal. (Pickens, S.C.) 1891-1903, 1897-02-11

oral Assembly make provision to raise
thls money? While there is now nc
deficiency in the State treasury, and
the State is working on an entirely
cash basis, 1t is proper to say that there
Is now In the treasury just about $500.
Ooo, as interest to tho amount OF about
$l4o, ooo and outstanding appropriations
have had to be paid.
In making the appropriations for til Q
current year at this session this fact
will have to be considered. and when
have to be used in part on the lst OF
Ja"uary, 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, tho tax levy for 1898
| will have to be five or five and q quarter
mills. This Is what those who hayo
most carefully considered the matter
have to say about the question. 1t is
either a five-mill tax levy or over, or a
denclency, or q resort to somc 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 90
that formerly came from the 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 the raising OF
revenue from other sources than q
direct tax. In the first place he thinks
that about $25, 600 can be raised by tax.
Ing the Insurance companies Ii to IL
per cent. on their gross business in the
State. This, he thinks, would be ac
cepta"le to the insurance companies
rather than pay the State, county and
City taxes on their business separately.
lie has no intention, in this plan, he
says, to impose any hardship or injus-
tlce on the insurance companies, and
on the contrary he thinks the plan he
proposes will be quite acceptable.
Then he thinks it would be q good
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 graduated income
tax on the grounds that they receive
the protection of the State and it's laws,
and have their investments in such
shape that they cannot be reached by
a 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 a graduated income bill
he estimates would bring into the
State from $40, 200 to ST., 5000.
Another source of revenue could be
from professional men who come 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, 900 more than is
included in the current appropriation
bills, unless some provision is made for
an additional source of revenue, or the
tax levy will have to be five mills or
over for 1893 to keep the State on
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 rs soon as it
could be possibly m ade 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.