The herald and news. [volume] (Newberry S.C.) 1903-1937, 1910-02-01
STATE FINANCES
COMMENTED UPON
IN THE ANNUAL REPORT OF
COMPTROLLER GENERAL
Says His Office Has Accomplished a
Great Deal with the $1,000 An
nual Appropriation.
The State. 28th.

One OF the most interesting ANNUAL
reports to be sent TO the general as
sembly is that Of Comptroller Gen.
eral Jones. Extracts from the report
were sent in yesterday. There are a
number of recommendations en-
braeed ia the report.
According TO the report, the total
amount available for ordinary ex-
\ penses for the year 1910 is s., 1,2l0,53O,
1t IS pointed out that the estimated
expenses for the government will be
100000 more than Last year.
The report is an indictment Of the
inequalities existing in the enforce
ment of the tax laws, and the comp,
troller general gives some highly in
teresting data along this line, show
ing alleged ''gross inequalities
''I feel it my duty" says the
comptroller general, to again call
your attention to the confusion, in
equaities and unlawful exemptions IN
the assessment of shares in the bank
ing corporations brought about by
county auditors, county boards Of
equalization ignoring or setting aside
the assessment laws; the violation of
banking laws Of this State by some
of the banks in their investments,
and illegal exemptions allowed banks
i'm the assessment of their shares for
taxation"
It is stated in the report that the
operation under the corporation IL
eenses tax act Of 1904, amended,
1905, has been uniform and satisfac-
tory and there has been little fric-
tom in the administration Of this
law. The license fees during the
past year amounted to $89,592.85.
AS to Delinquents.
III renew the recommendation"
says the comptroller general, F'made'
in my report for 1907: The penalty
for non payment of taxes of l per
cent. for January, 1 per cent. for
February and 5 per cent. to 10Th Of
March, entails unnecessary work on
county auditors, and the penalty be-
ing nominal, it becomes an incentive
to taxpayers to defer the payment of
taxes. I recommend that a total pen
atty Of 4 per cent. be added to all de-
lnquent taxes January l, and that
the time for the payment Of taxes
and penalty expire March l, and
that execution be issued Immediate
~ after; that date.''
The comptroller general is Of the
opinion that if the income tax was
enforced between $50,OOOand$75, 900
would be realized. II desire to say
that the county auditors Of Spartan
burg, Charleston and Richland, with
those in some Of the other counties
have made earnest efforts to enforce
this law
The State Debt.
As to refunding the public debt Of
the State, the report says:
"The total State debt, as appears
by the State treasurer's report, is
approximately $6,526,885.4l, Of which
$5,613,78169 is in 4 1-2 per cent.
Brown Consol bonds and stocks. In
1913 the State can exercise its right
to refund the B..own Consol bonds
and stocks.
1.-THE sinking fund has now on
hand, which could be applied TO said
debt, $780,000. The amount which
will probably be on hand July, 1913,
will be 100000, which Will reduce
the State debt by that amount. We
believe that the balance of the
Brown Consol debt can be refunded
at 3 l-2 per cent. In refunding this
debt, the bonds should be made non
taxable, but exemption Of corpora
tions investing in such bonds should
mot be exempt from tazation on the
amounts so invested; as it simply
shifts the taxes so exempted on the
people,"
Shortages Reported On.
As to special Investigations, the re-
port says:
''With the special appropriation
placed at my disposal at the last ses-
sion, I have had special investiga-
tions made in the counties Of Edge
field, Fairfield, Georgetown and
Hampton.
Edgefeld County.
II had the investigation Of the
treasurer's accounts commenced dur
ing the fiscal year of 1908 completed