The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1916-01-15
BALANCES ONLY APPARENT.
COMPTROLLER SHOWS NECESSI.
TY FOR ECONOMY.
Would Hold OutgO Down Until Tax
Burdens Shall Have Been Equaliz-
cd by State Tax Commission.

Columbia, Jan. 11,-"Appropriations
should not be increased more than
absolutely necessary until the system
for the assessment of property has
been SO reformed as to equalize the
burden" said Carlton w. Sawyer,
comptroller general, in a statement
yesterday regarding the financial con-
dition of the State.
"Only $5S7,7SO31 of taxes amount
ing to $2.176.35o levied in 1915 was
paid by December 81, 1915. When
the balance Of the tax levy for the
fiscal year 1915, $1.5SS.5ss.6s, shall
have been collected and paid to the
State treasury, and the current debts
for 1915 epresented by notes and
interes' }s712.ooo and open bal
ances Q appropriations for 1915.
s2y 3 IS. aggrcgath stss ss5.7s.
sy lSe paid out, TIL e36ld ap-
~ lily be about $S71S5Sl62sa avail
: for use in meeting the current
Ipenses OF 1916.
4 THE apparent balances brought
over to the present year do not rep
resent cash in the treasury, available
to meet current expenses. December
31,1915, there was only $332,634.71
cash in treasury so available. The
balance apparently in the treasury
represents special accumulated sink
ing funds-funds held in trust for
special purposes, uncollected taxes
and unexpended appropriations ac-
cumulated from year to year.
AT no one time is the apparent
amount Of these balances actually
available and represented by cash in
the treasury. But so much as is
available has been used from year to
year, in meeting and discharging the
current expenses of the State, in an
|ticipation Of the collection of taxes
and at the end of the fiscal year
these balances reappear as an appar-
ent estimated surplus on the books OF
the State.
THE accumulation of apparent bal
ances from year to year and their
<kD> -
of the following year Is due to our
system of tax collections, the exben-
ditures being made every year before
the taxes levied therefor are collected
and it will be seen, by comparison
Of the current figures with the bal
ances brought forward for many
years past, that we are rapidly go
ing into debt, decreasing the appar.
ent reserve or accumulations, and. in
creasing the amount necessary to be
borrowed in order to meet the ap-
propriations.
THE State revenue for 1915, from
taxes, estimated and based upon the
present assessment of $S1O,907,101,
at rate Of mills on the dollar,
would be $2,176,S50. To this add the
estimated income from sources other
than taxes of $354,230, and we have
a total estimated revenue of $2,-
|53O,5SO.
The appropriations asked for by
the various institutions and depart
nents. $3.147,754.3S. exceed the es-
timated revenue of the State by $s71,-
4O4 under a levy of z mills, and If all
appropriations asked for are made, it
will be necessary to make a rate OF
10 mills on the dollar to raise the
appropriations, for section 2, ar
ticle 10, Of the constitution REQUIRES
levy sufficient to pay the ,ordinary
expenses of the State, together with
any existing deficiency in the preced-
ing year. 1t therefore seems that
appropriations should not. he increas-
ed more than absolutely necessary
until the system for the assessment
of property has been so reformed as
hn