The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1902-01-14
Railroads .. 25,359,273 E,O44, 24S
Total :. ..s179.51 s1S9,393 3,1O7


Total :. ...s179,5 ,514,55O S1S9,333, ,1O7
These figures show a total increase
in the taxab BILE. values for the past year
Of $9,618,577.
For further information in regard to
this department your attention is dl-
rected to the excellent and suggestive
report of the Comptroller General.
SINKING FUND. .
In my last Message to the General
Assembly attention was called to the
fact that at that time $241 ,030.S4 OF the
$685., 9,202.23 Of assets of the Cumula-
tive Sinking Fund for Reduction of 5.
C. Brown AZ per cent. were on deposit
in banks, and although drawing per
cent. interest were unsecured, except
by the credit of the banks wherein de-
posted. This condition no longer eX-
lists and there is now Of this fund so
deposited in banks only S59,35o.S4,
which will soon be drawn out to COM
plete the State House loan. This has
been accomplished during the past
year by the loan Of $123, ,164.37 under
the Act of 1900 '"To provide for the
completion of the State House." and
by the purchase during the past year
by the Commissioners Of the Sinking
Fund of S. C. Brown AZ per cent.
bonds and stock Of the aggregate face
value OF S7S,0f2.00. These bonds and
stocks have been under the law con-
verted into S. C.. Brown AZ per cent:
stock issued in the name of the Com
missioners of the Sinking Fund, and
although purchased at a premium, be-
ing AZ per cent. bonds, will until ma
turity pay almost, if not quite, 4 per
cent. on the price paid. Under the
trust this is an ideally safe investment,
being made in the very bonds the fund
is created to retire.
The deposits in banks, unsecured sx-
cent by the credit of the banks where.
in deposited, pay only four per cent.
interest, and this rate OF interest is
liable at any time to decrease, should
interest and the demand for money at
the money centres decline. y
On December 31st, 1901, the assets OF
the Cumulative Sinking Fund for Re
duction Of S. C. Brown 41a per cent,
amounted to $420, 1852 invested so
as to yield from four to five per cent.
interest. The assets Of the ordinary
Sinking Fund are now 49,397.22. The.
assets of the Insurance Sinking FUND
for State insurance Of public buildings
amounts to 50, ,111.22.
GOOD ROADS.
During the past year there has been
a general awakening throughout the
country on the question OF
Good, Roads and in every section
great interest has been manifested
and movements begun looking TO
the Improvement of the public high
ways. There is no question that more
directly and more generally concerns
the great body Of our people. The
South has possibly been a little slow
in this matter, and the effects re-
sulting from her negligence are plain
ly to be seen.
For the past few years there has
been a great influx -of people into
our towns and cities and these have
rapidly built up at the expense OF the
surrounding country. This is an evil
which if possible should be, remedled,
for it is to thS people OF the. country,
and not to the towns and cities, that
the State must principally look for
the preservation Of her institutions.
One of the prime causes Of this great
flow of population into the towns and
cities is to be found in the condition
of our public highways. In most OF
the counties in the State during GER
tain seasons of the year some OF the
roads are altogether impossible, and
all communication and traffic with
the cities and railroad points is cut
off Such a condition Of affairs must
work great hardships, especially upon
the rural districts, and the people Oh
the rural districts compose the great
majority of our population.
Leaving out of consideration alto
gether the evils resulting from the
condition of our roads, however, and
looking at the question from purely
business standpoint, good roads
pay, and are one OF the
best q investments which can
be made by County Sor State.
Under our present methods OF. road
building, it is necessary to rebuild
the roads after every washing rain,
while if we built good, permanent
roads, the cost of keeping them in re-
pair would be very small item IN
comparison to what our present roads
are costing. In fact, the saving IN
not having to work the permanent
roads so often, would in a very short
time pay for their building. This has
been found to be the case wherever
good, permanent roads have been
built. ..-. ~. - :
: From the Seventh Annual Report
of the Commissioners OF Public
Roads for the State Of New Jersey,
one Of the leading States in the Good
Roads Movement, the following is
taken merely to show in what respect
good roads are held by the people who
have used them and know Of their ad-
vantages: "The people seem to be so
wonderfully impressed with the idea
that by good roads the value Of land
will be increased, transportation
cheapened, travel and business at
tracted, school houses and churches
filed, and civilization advanced, that
they are praying as earnestly for
them as for great riches. Consequent