Newspaper Page Text
''he Treasurer has, in obedituu to
the Act of 21st of-September last, "to
pro-vide for the redeuipt ion of Bi.lls Re
eci";able, is ued b.thistate,'' prompt
lv ex(liun,Ered Nati,t aI currency for
3;lls .Receivable when Presented. This
will ra;pidly redttee the atmount ho
held oi 31st October. The undrawn
appropriations, and such additional
a ppropriat ions as may be made at. the
present ses.iot, mnust be paid, prinei
pally, in Bills Receivable, until' the
taxes for the liscal year, comntmeneing
tho 1st of October last, shall be paid
into the wTeinry, which payments
.liould be reqtuired to be made by the
Collectors as, early as June. next. If
the General Assembly re-enacts the
etatuse in fit Tax Uill of the last year,
requniring that all to:es shall be paid
in g(Ild or silver, National currency,
or Bills leceivalle, and coat inues the
authority to the Treasurer to ex
,-hanige the Bills Receivable for Na
I ional curreney, there is no good reas
on why the' vatli of the former should
not be at par with the latter. The
Contpt rol ler-Geneliral est imates the
appropriat ions for the present year at
three btlred and two thousand seven
hi-'itired and ten dollars, which sum
will be inereased, if the recommenda
t ion hereinafter mtade, to provide for
the' paym ent of the public debt,
should b:c adopted by you. The pay
ment of taxes is, at all times, otrerous
to the publie, but is peculiarly op
ptessivo to the people at the present
time. Tile ordinary expenses of gov.
erntment, however, mtust be tet, and
the faith and credit of the State main
tained untarnished, and taxation is
the only resouree left us. The burth
cn s hould be rendered as light as pos
sible. by the most rigid economy in
iaking appropriations, and hy requir
ng a strict accountability frou all
public funet ionaries. Material changes
t the vubjcct mat.ters of taxation
and moditications in the rates are
r-Q uisit.c to render taxation less
oppressive. Assessors should be re
qunired t') make new assescuents of the
Vae tu (of lands, and town and city lots.
The Capitation Tax is ouerous, and is
not. inl proportion to the gcn'eral scale
of' taxation ; it should be reduced at
least one-lhalf, and the employer
should be held liable for every poll in
his service on 1st. March next. A
general system of licenses to lawyers,
doctors, dentists, mnillers, cotton pick
eres For toll, merchants, shop-keepers,
tradesmen, auctioneers, livery stable
keepers, hotels and eatint houses, non
resident merchants anid drutuners,
and others shouhl be introduced.
'Taxes should be imposed on money at
interest, bids and solvent credits,
also upon all articles of jowelry, gold
and silver plate, and watches, ear
riages, buggies, all horses n'ot used for
agricultural purposes, pianos, playing
- cards, &c., upon the capital stock of
all incorporated com panies, iclud ittg
railroads not exempted by law from
t axation, legacies, distributive shares
in intestate estates, pistols, bowie
knives, patent mnediciner, and the gross
profits of brokers, factors and ban kinm
c>rporationo. The taxes heretofor
igmposed in expecs telegraph, gas
ligh an inurace comtpanaies mtay b
very' ma;teriall y inicreased, as these
- comtpanies are realiziiig large profits
froim their several investmtents.
Al public oflicers wh'lo, by law,
have a seal, should be required to.*af
fix a. stamtp, in value fromi fifty cents
o two dllars, regulated by t heir
val Iue or imtportanice,-' on all~ piapers
. where the~ seal is used, the party pro
--urmng the paper beinhg required to re
mhu rse the officer for the same.
Anud l.astly, a tax should be levied
on all salaries and incomes exceedina
lve hundred dollars. -
A Tax Hill emnbracintg these new
fe-atuires would raise a stum abundantly
suifieient to meet all the cutrrent wants
.of thte State, and provide for,the grad
ual redemaptioni of public dlebt. 'rThe I
payment of taxes thtus levied would1
fall prinacipally upon the wealthy and
and those whlose employments yield
thtemi ready cash, and would occasion1
.comparatively little inceonvenienco to
. Heretofore, the intecrert on the putb- 1
lie debt has been paid by the Bank of
t.he State of Souith Ca rolina, but its<
loss of aissets, growing out of the wvar, I
together with its large outstand,ing
*circulation, precludes the possibility .
-of relying furtheor upon it, and theo
debt, principial and' interest, must be
met by taxation... . 1
The TL'reasurer, with the assistance of
an add itionatl clerk, can pay out, in fu- .I
ture, all claims from Is own counter; 1
*LTd I, i-ocommitend that an appropria
A$miad eto niest t6e salary ofmsuchi
, and thtat' the Banoks be discon-m.
nue4flid as the fiscal agent of the State, I
T~~Ihe -loss of the asaets,.and the impo' .t
*ition. by the reira bank(Dg Iam e
Congress, of so heavy a tax on the 'cii.
culation of all other than - National
Banks, make it manifest that the Bank
of the State of South. Carolina can
never resume business: and' I recoin
mend that its charter bo revoked or
declared forfeited, and its books, 'pa
pers ail assets put in the ha ds of
Commissioners for as early, liquida
tion as may be practicable..
The Ta x-Collectors have heretofore
been elected, for the Election Districts
in which they reside, S+iee the abro,
gation of tne I',rish systetm, the form
er legislation has not been changed,
and Collectors arestill elected by the
voters within the former Parish lipies.
Beaufort, constituting now but, a sin- I
Ile Election Distrret, still has four
Tax-Collectors ; and Berktey Election
D)istriet has eight Tax Collectors.
The reason for a Tax-Collector in
each Parish ceasing to exiss, the law
should be -so modified as to elect one
for each Election District. The addi
tioual numbers require an increase of
the books to be furnished by .the
Trensurer, and a larger number of re
turns. The commissions are insufli
cient to induce business men. to accept
of these small places ; in one of the
Parishes, the Collector's commissions
are less than fifteen dollars; and in an
ather (St. John's, Colleton), no Col
lections have been made, because no
non, within my knowledge would ae
oept the office. I recomnmend that
the law be so modified as to provide
for the election of one Tax-Collector
for each Election District.
TnE i'tJ r.c DEBT.
The Comptro!Ier-General and TreaQ't
r'r, pursuant. to the requirement of th,
Act of 21st. September list, prnpar.d
md torwarded me a statement shewinlg
.he aggregate aiolt of the pr"ineipal
ad interest, calculated up to Jltlv I,
1867, on the stocks and bonds past due,
wlich the Act provided for fundiin, a
.opy of which is herewith comnnittti
ed; and ny proclamat:on 'has been is
med, calling on these hond-holders to
lnnd their deaniads, conformably to the
Act. A contract has been made to
have the botids printed, and it is ngre -d
,hat they shall be delivered here by the
10th December, when the fundihg 'may
be commenced. The anount reported
is due, on the 1't tfJnl 86f7, by
:he Comptroller and :1reisarpr, is one
nillion two huntdred and ten thousand
,ight hundred and t.N o. dollars and
'ighty-five cents, (01,210,802.85.)
Provisions must be madie; at, the present
w'ssion, to pay the semi-annual interest
)n this sum on the I.t, of Jnmnary,
L8. 1 transmit their statement here.
There was no provision made by the
Act to fund the interest now diun on the
stocks and Bonds of the Fire Loan
le principal of the former redeemable
ni 11870, and the latter in 1868. The
nterest duo on the 1st. day of October
ast, on stocks and bonds, was -sixty
ight thousand t%wo hundred and twenty
lollars and fifty-five cents (*68,220.35)
Ind I recotnuend that authority'be grant.
tl to fund the interest now due, and
hat which will accutmulate aup to the~
lst January, 1809.N
Tt.e whole amoutnt of the publlic debit,
irinicipal and initerest, (f thii State, not
neicding the debts cotracted for, or on
Lecouint of the war, was, on the 1st day
>f October last, five mnillioni two hiindered
Lndl tive thousand t.wo hundre4( and
went y-seven dollars and seventty-fouir
'ens (*5, 205,228.74.) Of th'is a,lott
;iir huind red and eightyv4our thousand
our hundred and forty-four dolhars andl
~nd fifty.one cents (484,4I4.51.) is re
eemalei in 1868. and three hiudred
itnd eighteen thiousatnd onie hunttdred and
i(ty-nino dlollars and twetntv.five cents
318,159.25,) in 1870.
Tiho remaindear of the dlebt; (not' in
:litdng three huntdred and teni thousand
lollairs (81o0.,00) already provided (or
y the Act of 2 1st September hist, ani.
horizing its funding) is redeemable from
l875 to 1890.
The itnterest on the whole (except the
?'ire Loan,) is provided for (if the hold
ra of the socitrities will consgnt to fund
t,) "p to the lst day of Janutary, 1868;
>y which timle it is hoped the State will
>e in a condition to promptly pay inter.
st as it falls dute. The statenient of the
30omptroller General, showing thme debt.
mud tlie several periods w.heti it Jalls due,
5 herewi,h commtmicated.
it is, however, eminently proper that
ionme financial schietne should.'be.adopted
o prepare the State to meet the prinai
mal of the debt as it falls dpe. If the in
erest is regularly paid on.the debt. one
imdred 'tousand dollars annually -se
part as a ei.king fund for tweatyher,as
nyested in safe securities, -yielding six
er cent. pter atnnure, the~ prinoupal hieitng
tarthier mncreased by .the tavestnien& of
he interest annually -acorni1 ,. will '-ac.
umlate the hinn af-rhllA 'st hinoala -
hundred and ninLy-nine thousand- tr e
-hiMidred and twelve dollars, which ivwl
be nearly ade<piate.to the payment of
the entire debt. Itin <ile, an rd I recoi
mend ih.at proper legislnt.ion be adopted
at the Present session to inaugurate this
Under the Act of Sept tfmber 21st,
already referred to,.p rovision was made
to fintt the interest on stocks issued tmi.
der autliority ;f titu Act of 18,3, to con-.
tinue the construction of the new Stati
House.' The whole aenonut issuo d was
twenty-four tliousand eigit hunudred and
twenty dollars (*2.1.820). '1'he issue
was not made un iii some timt d.Iring
tlhe year 18,0-1 whe-n there was a heavy
appreciation of the ourrency, . aid when
labor and materials were in a corres
ponding degree appreciated. Four himtn
ired ti.tonsand dollars were issue d iII
1802, unaer anihority of the Act of 1861,
vhen Ilttior ant mat-rial hdiit aner -ciat-"
very littlem. In my procliimtation 1 ex.
Cepted these two issues from. immediate
fuidimg mitil the General Assemibly met
and determiind whether these stocks
should be Feaht d to tI.e real vath on ceived
Iy the Stnte for themi when issued. The
Convetition a<dopted a rule for the gtv
ernnten of .ransacitions bet.wjein individ.
mils dturing' this tint which was j,ist awl
InIle:t, airi no reason i?-ptrrceived why%
thte same rule should not be appiiel inl
transactions between the State and its
if lie Gent-r.nl Assmciily sho,l de
teriniiie to scale thieset it cis of cither or
both is'anes, a coniniission must he up
p:>intetd to lix"the rates, anid the interest
can he.' then compnted accordingly.
Shonbi tim General Assenhl tnk. no
achon u1)pn this sub11ject du,rin; t he pres
ent session, the funding w III be executed
im con flhrmii y to the pro viii,ns gf the'
[To he Co,ttinucd.] .
Satutay Morning, Derember 1, 1S66
Labor and Capital.
The phaso of labor atnd. capital is
now changed in the South. It is a
Veiy-liiporttat query how the capital
of.the 5otath siall be turned' to best
accounl . Between: A>giiultg and
MNut cture .the issues 'lie Setne
believe the interest Qf'the South now
lies in ant ehergetio development of .her
resources for manufacture. Others
think thrt.htr .yrieu't-aral resources
are tlto most proiising. ,The great
tonehstone of all questions of polit ical
eeonomj is, will it pay t .Between
agriculttre and--a'itnufa turo there
can hardy be at preseit any is:ue.
If the South tatufacture, she nttst
do it in eompetition with the North
and with England. It is well known
that the North has demanded protec
tive tarifTto enable her to comlete
with foreigncountries. It, is imi.ossi
ble.for th S.otth to'conmpete witht the
North in mnufactuires, for the simpl e
reason that her ~ppulation is too
sparse. WIhea the samte reason is a p
plied to her iniitbility to compete with
England, it is stronger, becausc tier
population is far less in proportion to
the area than that of G reat Britin.
T1he conisequence is that England eapi
tal empJloys labor at its own price,
while itn this couniitry, and e.speciailly
in thvt ntnh, as far its tmnufactures is
concerna.d, labor dema:nds its watges,
and capi tal is obliged to aeeede to it.
Labor is from 6 to 9 times higher in
the S'onth thana it is in Enigliad, when
directed to mtanufactutre, while' it is
less in agrieultural pursuits than Enig.
land eatn afford, Hence theal Southt
miust depe1d upon her agricultural re
sources more than upqp~ her manufac
Planters and Farmers, .
Nulmbers of our population who far
years htave 'earned their bread from
the'soil diretly, design disposing of
their.lands either by sale or rent.
Nun!b*s of our young men en the
4onErary are heartily entering upon
agrietiltural pursuits, and ar6 . OIled
with high hopes as to the result of
their u'ndertakings in the om1tivation
of tlWeBoil We'ea'nnot think that ainy
omInous admoni.tobs come from - the
aqtionof theforigr or any exiordi.
n% 'reult# t i ollow-fropi the oni'
oh sm iqip4, e( t;ansito
easy solution of the wholu matter.
'Tho:<o Who were accu<temed to control
the ugritcultuIr of'the country by bod
labor, are loath to aco.:pt the true sit
uation, impeded as it ii, compared
with a s,stetmatit+ labor.
Those wlo are not ae:l:inted with
the system of labor as it. obtained
before etiancipation, anticipate large
profits from.the present systene in cgn
Sequence of tho. apparent ease with
whiclh it is secured.
Ilenee lands are real iy t ansferreti
frontthe.proprietur to tetn::t. That
a'systento tthis kind will uventu: ly
work wyell cannot be dout,l. .Nut
that aniy ,great results wi1 ft.ll."w at
on1ce is impossibl,k. Our -Lans are
exce-sively barrent. T1"o r""nt lands by
the year will not be prolitnble. It
woUld bn far better for thcsc w!l'o have
lands to dipose of, to lease them iin
sm:lll tracts.. By this mcau:ns ! md may
be improved, but no ;rea.tl itpro e
nt,"tt can h: expect-:ud evei Ib .this
m: ,thol until our co;nmrv 1 u:io tlhi:
The Gotten Tax.
Tt. is a i ii:m fa t.that :n ce^.n
est and sinc"c:e. a p pea1l ari.-c: u rm Nt
York for the r tl of' a tax w!Ii
falls itmc Iiattly up i t': o - " ti
tie New York (lanber of ('met rce
have again shown our ptmbhe ruh r ;
antd law..makers the de:leterious cffect.
of imposing so heavy a tax as 3 eeats
a pounil on the e ! to:t pr lu".d in th:
Before the war t!> p )r cent of c"tt
t' f rti;h ed tlit nl.i;tuf:letori'; o
England was about 8 1. Now it is
ab.tut 40 par cnt. E very wh1littional
cent added to th tax np; :t th: pro -
duetion of eotton, is a bnu to ho- to
countries outside of tl;e I'ai!!iwiiclh
prodnce cotton. Dkit why \.ould we
of the S.,uth ur up'na fanatic (.n
gressmen the evil resitlt.of their lcgis..
lation ? It is better per!t.p"s to let
them run the full n gth of their ca
price, and thei whin:u they eav i d'0u1
that a burdensome tax upon S,mutternt
rodnetious is the samo thing uttpon
emselves, they will awal:e to the
(rue position of alfairs.
1, .[1s1111t" ' fSim '(t C..ar linia..
''ht" I loItoe v;:; c:tlh-d i, odter at, I I
O , 'Clik. I r:ia'r (I .v. 1lr iS l . -.
Mr. Gonclr mtobr ettI Ioil)m Ch.
ter:l 1l ptesentc l ert [ ld nt.ial t I.z it
ieing show,tvn thatu Ile o n tit ee i:n
South Carolina for thtree years, he w%.t
Ailloa to von he ri-! tide'ii:lio at Ac
M r. C'ampbll i rd,d a bl5il lt.
corpii. I lirate l~isn the Sa bind Cton, io,
Credil-gLan tiAte suctiin, 1'~tL
bill to e4.i) Itield l the ation of a it et
authrizin th esoroi. ofe QeinoitA
Mr.ut f r Campbel lie resohti baf
tat frd t the joint,i reiolution o l i a pr.
lncorporation,or u amedmt of I eaiir
revatiouslydii grantdunl te ofIiappulicats
form thellame hall firt hav lweive r'it-o.t
duin th is sion of the pitneral. A :.
requyest, butOtler'soe dlisnsion,il o
mot,e IOiont itr Campell te i-esoi >nli
as-referred hto thevig congiteed o nr
bTh,e unfvobje repoLrt oio thie o.
mi ttee Govnebl or dchr he lt w
ratin toite sotautuo lmt, os
adopad. 4opt,~ 'it 1S~(4R
1Ro'ig ous uerv:cut
\lay bh exlp'tel tor-r1"ow :s f .
A . It. C,.Itn:,h. ! Z . C. !L. 131tts, 7j
P .I ii'cnpal Cl'Irebt:, It -v. W\. 1'. 111;
B(4e, I \. M. :i 3. '. M.
1'':itiveh- \I:I . -t l wn -l---Se :ulvnr.
ti'-( lm('nt, of IIru4ltttanu, \\tiiler .& Co.?,
Oxi* t h .m a3 enll. ,4II Ml.!Il
( i- "1 N ul,' ---by (11 . Ka ' 1 ati
" oi' r -b \ t; ll e r t" -It .- I I. i. .I r it
C:M ME 130"AL.
\ n :n, Nov..1ihcr ).---Cotrn 21e.
('n1 ;t.orr:, ':ven1-r 27.- Thn ranging
1tl44ee o: v3lt4 to tty, wicrc :1 ( 2 (. 2 +
T l o 4Irp s 1 la :nw I (J\~
\ C . ii v. 1re " r. I 1 -: i 1 li\I l;l:ll.~
I. . i!;. sel- in ne 1h 1 he 11r-otnp iv
' l.:ai lnd Ih u u,.nh r -hip peI I1n:nedi:uti:
f vr m 1 i .. ws tlry Dei'>t'.
\b 1pe"r ""n+ ind--htl to th, es-ta t. of
\ j . 4-'t ( -N ali. Ite'.'"n ".A.'! tre he"reby
nouii' ii' ht i .sl v ul,o.-el :.I I t '' d 1 a t'.l
in h.v r' f'I' i- ' Ill n i. e b:1n d lfI. l
eers it th, ::11 t'.tf r ""lt.ettion.
MARKE w D Dit"h:- exDOTi - wen.
(y dI ll 1!'_I l iil.l : h Ie l l 1 ' ti1 t,
Ithenll In 11he II'I1'd' of ilny 1(n l"111ey II law,
W . I; li'Itl'.i n, I.'' , andll thot,se whose)Yt in.
deb}I'.11.,in dll" .t': 11 t"xn '1d. Ihl it so n11 w ill
findi : tt d' tl l < n1"+ :.: an'1t ihemn in1 thc hands
of lrhert .l!.lw htrn. It , 1 IGO I,tr, .
- .t.'.11. It - .\I \ 1,1 T N .
.\dlm:. of the e;t'te of .Jac >b (iO.xeq, dee"l.
_ T-TICTEJLY '
()N In-I afl:-r Satlrr"l.v tM e 1st inu..- tl.a
n d ii ei. r,'u 1 u iill ttll ol ' lt h +ir '
N'I E1 STOCK OF 00D S.
COST IAND EXPENSES
Tin . lt: it Is f\-eh, :41 weliii nertedi Itnml
hbioct.:I 1 be"n. so thl:.t BAt.\ ;.\ INS wi!
Su r,j"y be otli'..I"l.
133 l" .' P ON, I 'l' l-:lls & Co.
dlce i -tf
ri N IAll. ( niarlneripl , heretofl'o" existiu g '
eit n 1411rg:ned is this day
Ilh' olvedl by tnattual coln sent.
.\ 1'1It tA' "\ ' I'\17";EI..
The bikh are in 0.1 hllnndls o W.%, IL. mnr
ry whon i:, anthorii.d lu'arttle lte aeeont1 .
t. 2, 1Is. M & Co.
, ,l,ANTATI ION
bI1, Vent t he hi; hest hler on the
a 4 f .irs .\lominy of .>eembero next, 4
2',\N l'34N , 150r 41e144 , un0 r 'cltvn
4in oso 14444nea4C'r n iret, inin
)'41ei4y nati ni m datl,frlmte
Ketchi, McM ster& Co
....s .., . *
10 it lst No. 144 .\lackerol fnul
dreI1erln ins, u 1onv
- lnl iiia ~ heen i -O(e'Ige~
In WO4h -14QL0