The herald and news. [volume] (Newberry S.C.) 1903-1937, 1911-01-13
RETIRING CHIEF EXECUTIVE RE-
VIEWS CONDITIONS IN STATE.
Review of South Carolina During The
Past Year, With Recommends
tons For The Future.


line:
In This, my fourth and last annual
message, I wish to congratulate you
and the State for the great measure
r1 prosperity that has attended US all
these years, and for the progress that
our people have made in all lines
looking to their betterment, agricul-
turally, educationally, commercially:
and otherwise. There is a, great fu-
ture In store for this State if We will
only do our duty and chew to the
line"
States Finances.
The last legislature gave to the
governor, the State treasurer and the
comptroller general authority to bor-
row 100000, If so much be necessary
IN. anticipation of the collection Of the
taxes OF 1910, to pay off the interest
on the State debt, the pensions for the
Confederate veterans, and other ap-
preparations, and to pay the expenses
Of the State government for the year
\. # became necessary to borrow for
the purposes named the sum of $780,
900, the notes for which amount are
now being paid off from the collection
of the State taxes of 191 o.
We could not borrow the money
this year at as low a rate of interest
as we did last year, having to pay AZ
per cent.
have heretofore recommended
that an extra one-ha1f mill levy :<be
made for the next few years, placing
the same in the hands Of the Sinking
Fund commission to be loaned to the
State until sufficient amount has been
thus aised to do. away with the ne
cessity Of borrowing, and I trust that
you, gentlemen will take this matter
up at the present session and carry
out the recommendations made. The
necessity for this has been set out in
former messages. In this connection
7 would recommend that you author
ize the State treasurer to use, for
State purposes during the next year,
so much of the fund turned into the
treasury Of the State by the dispen-
sary winding-up commission as is not
appropriated by you for schools, and
that the same be returned when the
taxes are collected at the end of the
year. This will obviate the necessity
of borrowing from the banks as large
an amount as We are now compelled
to borrow.
Sinking, Fund. .
The assets Of the Sinking Fund
comm 'ss on on January /, 1911, are as
follows:
Culmatine sinking fund (for re-
demption and payment Of South Caro-
lian Brown AZ per cent bonds), s737,-
413.41.
Ordinary sinking fund S86,516.74.
Sinking fund for insurance Of pub
lie buildings s64,52O.11.
In the year 1918, the State has the
right to call in and refund the State
debt now outstanding, and as the
cumulative sinking fund is set apart
for the payment of the AZ per cent
Brown bonds, I suggest that steps be
taken now to prepare for the paying
off of as many of the bonds as cab be
paid with the funds that will be /on
hand in 1918 in the Sinking Fund
commission for that purpose.
As to the State debt not thus paid
off, T think it wise for you to consider
at this time, whether you will under
take to refund same at lower rate
of interest than AZ per cent.
Education.
The report of the State superin-
tendent Of education will show that
the year 1910 has been the banner
year in this State as to school attend
ance and as to amount expended for
education in the different counties of
the State. This is matter that
should be source Ct qualification to
every South Carolinian, for the better
the people are educated, the better
citizens they make.
We have now 1y7 high schools that
are being assisted by the high school
fund appropri2 Led at the last session
Of the legislature, and We could have
had even more than that number if
you would by act allow the State
board of education to use the funds
set apart t. one county and not used
to the schools of another county,
where the demand is for more than
the emonnt allotted to that county.
Savara1 Of the larger counties in the