The Union times. [volume] (Union, S.C.) 1894-1918, 1897-03-05

not stayed by the action of s,v ,ud;c;aJ
| process. The character of the work of
tho Commission is in the nature Of a
| gieaulng machine, which follows n har-
Vester, and operates to collect such ,in-
PAID taxes remaining in the hands of
the current county machinery of the tax
department. still uncollected, after the
period OF twelve months has elapsed,
and after which time, under the Act Of
1856, 1T becomes assets of the said Sink
ing Fund Commission. Thus it coi-
iects taxes which otherwise would be-
lost, and for this important work to bfs
most efficiently performed, should re-
main as at present. independent of tho
current tax department, which it fol-
lows: The property owners who
tempt to evade, or dodge, the payment
OF their taxes, and thus fall into the
hands OF this agency, we fnd to be,
usually large property owners and spec
ulators and corporations. We find many
thousands dollars worth of real estsH
have been discovered and placed upon
the duplicates, which have escaped AZ
alton for years, but will hereafter yield
an annual revenue to current funas.i
While the initial cost of this important
work OF collecting unpaid taxes, and In
placing the property upon the tax 1u-
plcate, Is expensive, we find tFnS
enough has been done to pay the entire
cost and expenses Of the work, includ-
ing salary of agents, and has also DIR
ing last year paid net amount into
the treasury OF 81, 100 over and abovs
fund, and other disbursements to ooIn-
ty officials, required to be made Qua Of
net collections of the Sinking Fund.
After careful investigation of the
work performed under these Acts, we
commend them as wise legislation, sup
plying material deficiency in the
TAX. TAX laws and going far to per-
are being administered by fhe
Governor, Attorner General, Comp
troller General, Chairman of the Fl
nance Committee of the Senate, and of
the Ways and Means Committee Of the
House, who, eX-officio constitute the
Board of the Commissioners of the
fund, their work is carefully
and provided with checks
and safeguards to prevent any abuse in
the performance of their duties under
the law. All important matters are
acted upon by resolutions adopted by
the board, and each and every aot of
the agent Is submitted to the board Rer
review, and for it's approval. There is.
however, much friction between the
comptroller Generals department. and
Sin king FUND Co onmission.
V. There was created by Section r.
5. L., Vol. XXI, p -, Tor reduction
ana payment Thy investment) Of South
Carolina Brown ~ per cent. Brown
bonds and stocks amended by Act Ap-
proved February Goth, 1896, and is
fnnd cumulative in character, and de-
rived from phosphate royalty, a special
Cumulative phosphate Sinking Fund.
Also under the management of the ooh-
of the sinking fund.
The total value of the assets Of the
Phosphate Cumulative Sinking Fund,
On December 3lst, 1896, S212, 52S 81. or
his amount, temporarily invested,
Sl13, 9S4. 22; permanently, So, ,72S. IS;
amounts invested, $203, TIC. rs; cash
balance on hand, $2,Sl6.03; amounts,
'2l:, 1851.
We commend the Act Of February
>, 1896, permitting the holders Of
5rown 49 per cent bonds, to deposit
hem with the Commission and borrsw
pectfully recOmmcnu- :-A--.-A
"gislation be made to permit the soy
'ral countens in the state, by borrowing
uoh funds at rale of interest not eI-
,eeding nor less than per cent upon
pledge of the county taxes, and UPON
'uch terms as will entitle each county
% borrow fair portion OF said funds,
f it 30 desires, under sue Ii regulations
.s may lie prescribed by the Commits
ZION, in conformity with such legisra-
ion as the General Assembly may eA-
,ct.
Respectfully submitted,
5. q. MAYFIELD, Senator.
G. r. ID. BURNS,