The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1900-01-10

spondence had between this office and the
Treasury Department at Washington In
November, 1881, and during the admins
tration of Governor Johnson Hagood, but
without settlement Of the claim so tar
as we know.
Under the Act of the General Assem-
bly at that time of force these bonds,
principal and interest unpaid to 1st jan
uary, 1886, were fundable IN SIX per cent;
consolidation bonds at fifty per cent. OF
said amount. The consols being redeem
able on Ist of July, 1898. The Act OF the
Legislature of 22nd of December, 1898,
provides that all bonds and stocks hlth-
erto fundable in these consols upon their
surrender be exchanged for the new 90
40 wears AZ per cent. bonds and stocks
authorized by Act of December, 1892, for
the redemption of Brown Consols.. These
coupon bonds now held by the United
States Government are fundable as above
stated upon their surrender, /. e., at so
per cent. of principal and interest UP. to
maturity. The State, however, has Revolu-
tionary War claims to the amount IN
round numbers of $55o,ooo In the in
vestigation of this claim against the
United States Government the General AS
sembly in December, 1856, passed reso..
luton authorizing the appointment OF
some suitable person to investigate aud
prosecute the States claims as aforesaid,
and under that authority Governor R. F.
w. Allston appointed Hon. Jas. A. Black
agent for that work. The said agent in
corporated the result of his labors in re-
port to the General Assembly, which was
ordered to be filed with Comptroller Gem
eral, which cannot now be found among
the records of his Office. There is large
mass of old papers now in one OF the
rooms of the State House, among which
this valuable report might be found if the
means were in hand to employ an Ell
cient and painstaking person or persons
to examine this confused mass of papers.
There are, in all probability, other claims
held by the State against the General
Government, to say nothing OF private
claims of large amounts amounting to
millions of dollars"
This is matter of very great impor-
tance to our State. At your last session
you passed joint resolution requesting
and directing the Governor and State
Treasurer to furnish all information avail
able to our riSenators and Representatives
touching the claim of the State against
the United States for money advanced
during the War of 1872, and that our
Representatives in Congress be requested
to urge forward all legislation on the sub
iect. You also rescinded all outstanding
contracts if any should exist for the col
lection of this claim. 1t seems that the
Black Report made in 1858 and mentioned
by the State Treasurer embraces all the
testimony and facts relative to the States
claim. In view of the Importance of this
report recommend that you provide for
an examination Of all the old records and
especially the old rubbish that is stored
away in one of the unoccupied rooms of
the State Capitol to see if this report can
be found. Its recovery may be the means
of our getting a considerable sum OF
money from the United States Govern
ment and it is important to put our Sena-
tors and Representatives in possession OF
all the facts that can be obtained. AS
understand it, the claim Of the United
States Government for the settlement OF
the $125,ooo of South Carolina bonds be-
longing to the Indian Trust Fund and the
accumulated interest is just and honest
claim which we ought to pay and
which we could pay with our claim
against the United States Govern
ment and have balance to the credit Of
the State if we can find the testimony to
substantiate the claim Of the State. The
matter was in process of settlement when
the Civil War broke out in 1860 and the.
State had Joined with other States in pro-
test against the unfair methods of the
United States in adjusting the!claims and
it was to sustain its contentious that
Black was employed to work up the
States case. 1t may not be possible to
obtain the full amount claimed by the
State, but I am informed that there is ab-
solute proof in official documents that the
United States acknowledged that it owed
the State Of South Carolina in 1891
$751; and this with accumulated inter
est for hfty-nine years would amount to
about $3.50, 600. If this could be adjusted
without going into the disputed claims the
State could pay the claim the United
States Government holds against it and
have about 500, 900 left. Under the con-
solidation Act of 1873 the State Treasurer
can only refund old bonds at fifty cents
on the dollar, but if settlement as sug-
gested could-be made with the United
States Government you might pass an
Act authorizing the State Treasurer to
settle at 100 cents on the dollar on
condition that the United States pay the
just claims to the State of South Carolina
as acknowledged i'll the report of the Sec
retary ofthe Treasury in 1855
Por statement of the bonded debt of
the State your attention is directed to the
annual report of the State Treasurer. Our
bonds find ready sale in the markets of
the world at premium and the credit Of
the State is good.
TAXATION.
The Constitution says that "All taxes
upon property, real and personal, shall be
laid upon the actual value of the property
taxed, as the same shall be ascertained by
all assessment made for the purpose Of
laying such tax" 1t also says the "Gen-
eral Assembly shall provide by law for a
uniform and equal rate of assessment for
taxation" 1t is fact that very little if
any property is assessed for taxation at its
"actual value" For:ifit were the taxa
BILE property of the State would be great
deal more than it tisshd the rate of taxa
tion could be considerab1 1ySreduced. TO
the taxpayer, however snot mat
ter of very great concekf sfo Ia certain
amount of money has to be raist stA1nsst
the expenses Of government and White, ii