Year: 1873

Sv$hCHN"H*r%T~"" c""H~
A WORD WITH TldE GENERAL ASSEMBLY.


We copy the following thoughtful and we'll
written article from the Aiken Tribune, Re.
publican.) The members of the Legislature
should ponder the subject we'll. Much de-
pends upon their action. Let them heed the
suggestions thrown out, curtail unnecessary
expenses, and thereby reduce taxation and
build up the State. With the finest eli
mate in the world, good land, inexhaustible
and unsurpassed water power, South Carolina,
should be one of the most prosperous States in
the Union. If the Legislature and the State
officials 60 to work earnestly and honestly,
this can be effected. 1t is not yet too late
to fulfill the promises and pledges made at
the last election: 4


"On the 2Sth of October, if we are correctly
advised, the Legislature of this State will be
convened, in extra session, for the purpose of
taking such action in regard to the late deci-
sion of the Supreme Court, in the bond case,
as will be most likely to secure the adjust
ment Of the question of the State debt upon
terms at once favorable to the citizens Of South
Carolina, and equitable to her creditors The
subject is one of profound interest to every tax
payer in the commonwealth, and upon its de-
Termination will doubtless hinge much of the
prosperity or adversely that may be in store
for US for some years to come. But there
are other, and scarcely less important, mea-
sures which demand earnest and intelligent
action on the part ofthe General Assembly, not
the least of which is the disposition to be
made of the bill, introduced at the last ses-
sion, to provide for the exemption, for term
Of years, of all capital hereafter employed in
manufacturing enterprises in this State.
When the proposition, contemplated by the
bill to which we refer, was first made in the
Legislature, and, from that time to the un-
fruitful end fits discussion, we zealously advo-
Gated its adoption, because we believed that it
would eventuate in unmeasured advantage to
theState. Subsequent observation has confirm
ed US in this view, and the anxiety which we
then felt for the passage of the bill has been
largely increased by watching the benefits
which have flowed from similar legisla-
ton in other States, and comparing them
with the losses we have suffered by the want
of such law in our own. Had the saga
cious policy which prevails in Georgia, on
this subject, obtained in South Carolina,
there can be no reasonable doubt that many
cotton manufactures would have been started
this year, and much of the capital, since then
diverted, would have been permanently inves-
ted in our midst. Gentlemen, who last win
ter were enthusiastic advocates of the erec-
ton of new factories in this county, have
now become lukewarm on the subject. Some
of them, indeed, since the recent decision Of
the Supreme Court are bitterly hostile to
making any further investments in State
where taxes are likely to be largely increased,
and the Legislature Of which seems utterly in
different to the best interests Of the people.


"This is in striking contrast with ourneigh-
bors in Georgia, who not only exempt all
manufactures from taxation for term Of
years, but, in some localities, at least, pay
bonus toward the Inauguration Of every
new enterprise of the kind. As a conse-
quence of this policy, several factories are be-
ing erected at Columbus, which will employ
many thousand spipdles. - At Augusta a ca.
pacious one is approaching completion, and
that city is making considerable expenditures
to enlarge the canal so as to procure water
power for others; whilst at Savannah, where
no water power is available, steam has been
successfully substituted in the establishment
of manufactures. Yet Columbia, in our
own State, which possesses more water power
than any other point in the South, has not
single factory constructed, and it is doubtful
whether one ever will be built there unless
the Legislature exempts it from taxation tenn
porariy. Looking nearer home, we see
that the Langley Company has done nothing
towards enlarging the capacity of their mill,
whilst the Graniteville Company, which had
commenced preparations for doubling the
scope of their operations, suspended all work
in that direction as soon as the Legislature,
at its last session. decided adversely to the bill
proposing to exempt manufactures from taxa
ton. And now we ask the intelligent men,
bers of the Legislature whether they can
afford to persist in so unwise course? 1t re-
quires no extraordinary sagacity to perceive
that the restoration to our State Credit, the
reduction of our taxes and the increase of
our prosperity, which would naturally fol-
low either or both of these results, must de-
pend chiefly on the development of our mate
rial resources and the attraction of capital to
our aid. We believe that if the Legislature
passes the bill, new vitality will be impaired
to all our industries, and capital enoug gh to
place them in successful operation will be
easily obtained If it refuses to do so, how
ever, a requiem for all enterprises of a man.
ufacturing character in our State might just
as well be sung at once, and the cornerstone
of an imperishable monument to legislative
folly be lain on the banks of the CoDgaree,
where, in sight of the Capitol itself, the best
water power in the South will flow, unutilized,
out to the sea-"