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(~. ~. e VOL LIV.NO 4. N it%R Y. .) O.RIt)A.Y JUNE 21, 1907. TWICE A WEEK, $1.50 A YEAR VOLDD TLAV. N u hnwl b ene osdea! OSVL TO9HE DIOR__iean_o_iri_tio Ti- a.r l *. nn i-t-o--nre --- ta - a - -n lTHENE__O P_RPRT A I T 4 . ~ a ~ , n A , A i ~ n A n h l R O ~ R V T . ' T n ' P ~ ~ f l ' P f D ~ ~ . v . . . : ' r . : . . . . s . A l. . . . I ' U K '~-r '-T -x adUUjrdy LAI l TO PAY INTERESTi THE STATE TREASURER HAS 1 BORROWED $250,000. Levy Was too Low this Year And the Expenditures Will Exceed the Revenue by $180,000 Says Oomp1troller Gen eral Jones. The State. The State treasurer's office has just negotiated a loan of $250,000 froin the 11anover National bank of New York through the Palmetto Na tio,nal bank of this city. The Palmet to bank was the lowest of a number I of bidders. The rate of interest is : not stated more definitely than that : it was less than 5 per cent., which 3 is considered a decidedly favorable rate in view of the present state of the ntoney market, many banks pay ing inore than 5 per cent for money in'New York. The Sir, hs receiv ed money, on such a note as it ad- I canved from this loan, as low as 3 7-8 per cent., but that was three years agQ, when market conditions *were favorable. Both Comptroller General Jones E and State Tresurer Jennings are of the opinion that the state will have to borrow $25.0,000 more before the end of the year-will have to go to'( the end of the $500,000 limit fixed by law-and that next year on ac-. count of this year's levy being re duced the borrowing will have to go merrily on. As pointed out by The State some months ago, the last legislature re duced the levy one mill and increased the appropriations by over $100,000. The result is that in spite of the in creased assessed,values the 'defieency will be about $180,000, in the opin ion of Comptroller General Jones. The habit the State has fallen into of borrowing yearly to meet current expenses is costing from $8,000 to t $13,000 in useless interest bills. Last year the state borrowed $325,000 $100,000 in May, $150,000 in June and $75,000 in August. The $250,000 just borrowed is on, deposit in the Palmetto bank, but 1 $1P0,000 of it is to be sent immed iately to Charleston, where most of: the State bonds are held. I The State's semi-annual interest bill, due the 1st of next month, is' $143,000. Checks for this will be sent out as required by statute three days before the interest Is due, in. or der to reach distant holders of bonds as nearly on the day it is due as pos sible. About $20,000 of the amount borrowed has already been paid to Clemson and the Citad3l and about: $17,000 will be needed for current' expenses for July. This annual interest account of $286,000 goes to meet the interest on I the State's bonded debt of $6,500,000, $6,000,000 of which bears interest at the rate of 4 1-2 per ceut. Of the remainder there are three perpetual bond issues at 6 per cent.--$58,539 .39 on account of Clemson college and $95,900 each on account of Clemson *and the negro college at Orangeburg., This unsatisfactory condition of State finances is disconraging after; the efforts of Gov. Heyward, Comp. troller General Jones and others, who, struggled through sftral years to get the legislature to place the State ~on a cash basis and stop) the interest' drain oni account of floating debt. They persuaded the legislature to in crease the levy in 1005 to 5 1-2 mills, but the appropriations were so heavy and the current ex.penses had so innch increased that in spite of the incereas ed assessed value of property it was necessary the following year to bo&' row $325.000. In 19061 the levy was put back to 5i mith, at which figure it had been for 10 year. wi h mie re suit that this year the elefielene:; will be $180,000. Now for 1907 the levy is 4 1-2 mills and the apprapria tions are much heavier than they were last year. The total taxable property last year was $249,534,000. It is not unlikely that this' will be increased this year. Already the railroad board of .aases sors has increased the assessments against the railroads by $32,000,000, f precedent should be followed. The following table, made up fig tres from the comptroller general' eports to the legislature, shows hov he State has been see-sawing be ween a credit and a cash basis foi lie past 10 years: Year. Tax Values. 1897.. ... .$173,871,000 1898.. . . ....173,237,000 1898.. . . ...174,600,000 1900.. . . ....178,845,000 1901.. . . ....189,333,000 1902.. . . ....195,776,000 1903.. . . ....204,405,000 1904.. . . ....201,331,000 1905.. .. ....220,224,000 1906..... ...249,534,000 Total Total Cear revenue expenditure; .897 .. .$ 980,602.49 $ 879,502.6L .898 .. . 908,117.48 898.097.91 .899 .. . 916,533.15 866,484.2t .900 .. . 937,019.61 947,068.0' .901 .. . 1,002,834.31 1,016,758.6( .902 . .. 1,022,252.12 1,223,971.2E .903 .. . 1,170,143.63 1,118,137.9r 904 . .. 1,115,844.32 1,209,716.54 .905 .. . 1,352,351.89 1,227,613.80 .906 . .. 1,428,372.05 1,284,602.84 The receipts of 1897 included $88, iOO.40 from the State dispensary 'nile those of 1903 included $89,137. 16 in settlement of a claim from th ederal government which was secur A by the presentation of the ''Blac )ers'' found by the State treasur 41'S offie. NEGLECTED HIS DUTY. ffhen Washington Met Martha Ousti: He Forgot Matters of Im portance. In the traditions of any member: f the Washington family the stor; f Martha Custis is of supreme -im ortance, writes Cora A. Moore, it lie New Broadway Magazine. It happened one day that she wa; isiting at the plantation of a neigh or, Major Chamberlayne, when ther( iame riding in haste an officer in th( ritish uniform. The business that li ad with the majov ne transacted uickly, declining an invitation t( tay because, as he declared, lie waE )n his way to the governor at Wil iamsburg on masters of importance lut the host repeated the invitatioy nore urgently, slyly remarking tha ie had also beneath his roof the hand omest widow in Virginia, a young nid charming woman. *Ah, a lady in the case! That wa ifferent. But the plans of met ave often waited on Cupid. Whet he lady whom he met in the major' Irawing room he forgot Williams .urg and the governor. And she )eased with the conraze of that col nel, George Washington, of whos nilitary fame she had heard so mucn eintillated and sparkled with evet liore than her usual fascinatior 'hat evening, long after the rest o he household had retired, lie and th ~harming widow sat by thme fireplac ni the shadowy drawing room, with ~ut a chaperon to regulate the tid iF swiftly moving events. Soon there wvas a resplendent wed ing at the home of the bride. Direct y afterward a coach and saw korset ~uided by liveried black positilior. onveyed the newly married pair t er town house .in Williamsburg usiness interests for some time de nanded the presence of Colonc Vashington at the espito1. Later h ook his bride and her twvo childrer NEartha Parke Custis and John Park ustis, to his own estate at Moun ernon, where they enjoyed that hap y domestic life whlch is celebrate n history. amous Buffalo Herd Sent to Oanadi issula Correspondence Anacond Stand ard. The last of thme famous Allard her f buffaloes of the Flathead reserve ion, which was recently purchase y the Can-adiani government at rice of about $116,000, will be loal ed at the Ravalli stockyards tomo; ow on cars of t'he Northern Pacifi mad shipped to Edmontony Alberta. A large crowd of Missoula peopi left tonight for Ravalli to wvitnet he loading tomorrow and get th last view of the herd before it leav Montana forever. Conserve our Natural Resources Adopt Inheritance Tax. uI addressing the members of the National Editorial AAsociation today Presidept Roosevelt devoted himself almost wholly to the discussion of two questions-the reshaping of our system of taxation so as to make it hear most heavily on those capable of supporting the strain, and the utiliza tion of the natural resources of the nation in the way that will be of most benefit to the nation as a whole. He gave more attention to the latter question than to the former. Referring in his opening remarks to the power wielded by writers for newspapers and periodicals, the Pres ;ident Said: Be Open-Eyed and Impartial. ''It is essential. that the man in public life and the man who writes I in the public press shall both of them, if they are really good servants of the people, be prompt to assail wrong doing and wickedness. But in thus assailing wrong-doing and wickedness there are two conditions to be ful filled, because if unfulfilled harm and not good will result. In the first place, be sure of your facts and avoid ev erything like hysteria or exaggera tion; for to assail a decent man for something of which lie is innocent is to give aid and comfort tn every scoundrel while indulgence in hys terical exaggeration serves to weaken, not strengthen, tihe statement of truth. '' In le second place, be sure that you base your judgment on conduct aId not. on the social or economic position of the individual vi.th whon you are dealing. There are good and bad men in every walk of life, and their being good or had doe" not de pend upon whether they have or do not have large bank accounts. Yet I this elemental fact, this fact which we all accept as self-evident, when we think each of us of the people whom lie himself knows in his busi ness and social relations, is often completely ignored by certain public men and certain public writers. The men who thus ignore it and who at tack wickedness only when found in a particular class are always unsafe, and are sometimes very dangerous. leaders. 'Distru.i equallv the man who is never able to discover any vices of rich men to attack and the main who confines himself to attacking the sins and shortcomings of rich men. It is a sure sign of moral and mental dis honesty in any man ft in his public - assaults upon iniquity he is never )able to see any iniquity save that of I a particular class; a.ud this whether lhe is able only to see the crimes of arrogance and oppression in the rich or the crimes of envy and violencel . in the poor. He is no true American I if he is a respecter of persons where A ri ht and wrong are concerned and if a lie fails to denounce the demagogue - no less th-an the corroul)tiornist. to i deniounce alike crimes of or'ganized greed and crimes of brutal violence. . Thr1 eqnal need to denounce the .. wealthy manm w~ho swidles investors or buys legislators or oppresses wage s workers, anid the needy man whlo in Iflames class be~ I red or incites mob) violence. We ned to hold tIhe scales -of just ice even, a.nd to weigh them Idowvn on one side is as bad as to weigh Bthem downm onl the other'.' Conserving Our Natural Resources. STaking up 'then the two great t movements in public life wvhich lie - had selected for discussion, President 1 R|oosevtl declared that thme conser vation of our natural resources and their .proper use constitute the tuna mental priobilem which under'lies al *most every other proble1m of our .na Stional life. For this wvork the one !characteristie which is more essential than anytesforesight. But uin fortunately foresight is not usually a characteristic of a young and vig orous people and huithue'to as a nation' we have tended to li' ft h an eye] -single to the present and have per Smitted the reckless waste and des truction of much of our natural wealth. s The President then reviewed' the work of the reclamation service, be Sgun ini 1902, in rendering fertile and habitual mnnv parts ofthe West by well begun, but there will be no I bialt. The public lands of the Unit ed States should be utilized in simi lar fashion. Our present public land hws were passed when there was a fast surplus of vacant public laid and when the chief desire was to so etire settlers thereon. [ittle atten tb was paid to the details affecting the disposal of the lands and lax ex e0ution of the law became the rule. tAnd frauds were common and little noted. These frauds are now being stanild out and vigorous efforts are being made to enforce the law. Public Lands Belong to Public. The da,nger of allowing the public lands to pass into the hands of a few men was pointed out, and the neces sity for the conservation of the for ests stressed. The mineral fuels of the Eastern States are already in the hands of large private owners. Steps should he taken to see that the same thing does not follow In the West. The mineral fuels should be conserv ed, not wasted, as is the case nuder private ownership very often, and enough of them should remain in the hands of the Government to protect the people against unjust or extor tionate prices so far as that can still be done. There are at present, some 300 million aCres of public donain, open to lie free grazing of cattle, sheep. hlorses and goaTs without res triction or regulation. This land is now heing skinned by men whose on ly Coneern is to get what they can out of it at the moment, careless as to whether or not it is ruined in the pro cess. The only remedy is to give con trol of this range to the Government. Waterways Needed. The inability of the railroads of the United States to meet the de man,ds upon them has drawn public att&stion forcibly to the use of our waterways for transportation. But it is obvious that this is only one of their many uses, and that a planned and orde'rly development is impossi ble except by taking into-account all the services they are capable of ren dering. It was upon this ground that the wn4.-d waterwiys commission was recently appointed. Their duty is to proee n comprelhelve plan for the improveme6t andi utilization of those gret waterways which are the great poten tial higlhways or the eountr. Their duty is also to bringl together the polints of view of all users of st ie- ms. and to submit a geieral planl for the development and conservation of the vast natural resources. Clearly it is impossible for the waterways commission to accomplish its greit task without eonsidering the relation of streams to the conservation andl use of all other natural resources. As illustrative of the importance which he attaches to this stibjeet, tle President declared that even such questions as the regulationl of r.i' way rates and the control of corpor ations are in reality subsidiary to the jpreservationl in the interests of the whole people of the resouirces that nature has giveni ns. If we fail to selve this problem no skill ini -:olving the others will ini the end avail us v'er greatly3. An Inheritance Tax. l'aking up the matter of taxati. 1: Mr. Roosevelt stated that most greit ib.ilized countries have an in.someu tax an,d an inheritan 1ce tax, andl 41' elared that, in his .ind2eid. boi should be par't of our systenm of1 FedI evali t.cxation. As I,to lie first he spoke briefly and diffdently, in view of the decision of the Supreroe Court declaring anconstitutional one sneh scheme of taxation, and because of its difficulties inl the way of ad ministration. As to the latter lie de elar'ed it would serve the purpose of having the swollen fortunes of the country bear in proportion to their size a constantly increasing burden of taxation. ''These fortunes,'' he continued, ''exist solely, because of the protec tion given the owners by the public. They are a constant sonrce of care and anxiety to the public, and it is eminently just that they should be forced to pay heavily for the protee tion given them. It is, of course, ele mentary that the nation has the abso lte right to decide as to the terms upon which any man shall receive a hequest or devise from another. We hve repatedly n)laced lnws on our peatedly been declared constitution al by t,he Courts. I believe ,that the tax should contain the progressive principle. Whatever any individual receives, whether by gift, bequest, or devise, in life or in death, should, af ter a certain amount is reached, be increasingly burdened; and the rate of taxation should be increased in proportion to the remoteness of blood of the man receivi,ng from t,he man giving or devising. The principle of t'his progressive taxation of inheri tances has not only been authorita tively recognized by the legislation of Congress, but it is now unequivo cally adopted in the leading civilized nations of the world-in, for instance, Great Britain, France and Germany. Switzerland led off with the imposi tion of high progressive rates. Great Britain was the first of the great na tions to follow suit, and within the last few years both France and Ger many have adopted the principle. In Great Britian all estates worth five thousand dollars or less are practi cally exempt from deat-h duties, while the increase is such that when an estate exceeds five millions of dol lars in value and passes to a distant kinsman or stranger in blood the Gov ernment receives nearly 18 per cent. As it is in France. 'In France, under the progressive system, so much of an inheritance as exceeds ten millions of dollars pays over 20 per cent to the state if it passes to a distant relative, and 5 per cent if it passes to a direct heir. In Germany very small inheritances are exempt, but the tax is so sharibly progressive that an inheritance not in agricultural or forest lands, which ex ceeds two hundred and fifty thois and dollars, if it goes to distant rela tives, is taxed at the rate of about 25 per cent. "The German law is of special in terest, because it makes the inheri tance tax an imperial measure, while allotting to the individual States of the Empire a portion of the proceeds and permitting them t4) imtpose taxes in addition to those imposed by the Imperial Government. In the United States the National Government has .inore than once imposed inheritance taxes in addition to those imiosed by the States, and in the last instance about one-half of the states levied such taxes concurrently with the Na tional Government, making a com bined maximum rate, in some cases as high as 25 per cent; and, as a mat. ter of fact,-several States adopted inheritance tax laws for the first time while the national Iaw was still inl force and in repealed. A Commendable Feature. "'The French law has one featur< which is to be heartily commended, The progressive principle is so appli ed that each higher rate is imposed only on the excess above the amoun subject to the next lower rate. Thi; plan is peculiarly adapted to the working out of the theory of using the inheritance tax for the purlmposi of limiting the size of inheritabhi fortunes, since the progressive in crease in the rates, according to thi! modle, may be carriedl to its logica conclusion in a maximum rate of near Ily 100 per cent for the amount ii excess of a specified stun, without be ing confiscatory as to the rest ol the inheritance ; for each increase ii rate would apply only to the amouni ab)ove a certain maximumm, I do nol1 believe that any advant age come! either to the countrmy as a whole or th the individuals inheriting the money by permitting the transmission it their entirety of such enormous for munes as have beeni accumulated it America. The tax could be made t< | bear more heavily upon persons re siding out of the country thain upo)0 'those residing within it. Such a hieava progressive tax is, of course, in n< shape or way a tax on thrift or in dtistr'y, for thrift and industry havi ceased to possess any measurablm inmportanumce in the acquisition of thn swollen fortunes of wvhich I speal long before tihe tax wvouldl in any wvay seriously affect them. Such a taa would be one of the methods by whici we s'hould( try, to -preserve a measur ab)le equality of opportunity for th< people of the generation growing t< ma nhood. AsaI Licoln pointed out there are sonie respects in which mci nre obvionsly not. eqal; btut there i. The Movements of Many People. Some Oome and Some Go-Social and Otherwise. Prosperity, Juno 20.--Walter Wise and Jas. Calmes are home from the Porter Military Aicademy, Clarles ton, to spend the holidays. Misses Della and Bessie Bowers have gone to Atlanta to visit rela tives; from Atlanta they go to Chat tanooga to visit Mr. J. P. Cureton. Mr. and Mrs. E. D. Bedenbaugh, of Atlanta, are visitin-g Mrs. B.'s par. ents, Rev. and Mrs. Z. W. BQden baugh. MrbJno.o Hawkins has returned\ from a pleasant trip to Lexington Co. Hart Kohn, A. B. Wise and C. P. Barre left. Monday for the James town exposition. Col. Jno. F. Hobbs, and little daughter, Miss Ethel, left to visit re latives at Hopes. Miss Leggett, who has been the ef fleient milliner of Mrs. Calmes the past. season, left for her home in Scotland Neck, N. C., Monday. Dr. and Mrs. J. S. Wheeler have gone to Hendersonville. Mrs. Wheeler will spend the summer. Dr. Wheeler will return in a few days. Misses Lena Lester and Lizzie Haw kins are visiting friends in Silver Street. Miss Marl-y Lee Barre is visiting Ler sister A, M-. K. al-, in Greei wood. She was acconi edaliet by Miss MX:1ry1.Y. - Wiise. Mr. and Mrs. A. G. Wise have re turned from Glenni Springs. There will het a ch1urhell social at tle Lutheran parsonage Friday even ing. -Mrs. 1). M. Ward. ot Newberry, visited Mrs. B. It. Sehumpert this week. - Mrs. Loriek, of Irmo, after a pleas a-; i -. ner Ristc-, Mrs A. A. Singley, returned to her home - on Tuesday. Miss (hissie Nuninnaki-, ol' Lex ington Co., is visiting relatives in town anld vicinlity. Our town was honored Tuesday by a visit fron Maj. 1. W1'. 1l1iiler and bride iniee Miss Alice Mettze. of Lez ington. Mrs. C. M. Harnion and Miss Effie Conly art- visitin.- n Lit tl Mouintaini. Miss Annie .1amieson, of Newber rv.. anil friend, of Laurens, after a 1le.asanit. visit to Miss Jessie Moseley retuirned to their homes Tuesday. Mi'. B. L. Wheeler, of the postal service, was in town Tuesday. The vonim, people nad a pleasant evening of it on Monday. They gave Miss Jessie Moseley and her visitors at srilprise party whicl was much en joyed. Mrs. (. Y. Hl11unter and Misses leriin Kohn and Ger(rude Simpson will at tend Itie Missioiary Con'ference to be held at, Kenilworht Ti. Asheville, N. C.. liule 28, .July 7th. Unearthed a Buried Tree. Keunnerbce Jouriunl. A lbonut 70 yearus ago millions of toins Of earithi, bouiilders and gravel slidl from t.he sidle of Monnt Katahdia to Sordnahunk stream, a distance of seven miles, and daummed the streamlfl, forming what is known to West Branch lumbermen as Slide dam. A repair cew of a paper company i'ecently had occasion t.o remove a gnuantity of' gravel from this depo.sit. At a depth of 10 feet they found the trunk of a spru'Ice tree bent like a bow, the top held .down by a bouilder weighing many tons. The trunk was soiiud, but the bar'k and1( foliage had been i'emoved by the scr'aping the treet ri'CCved when the slide occur -red. Another' lar'ge tr'ee with foliage intact was found in the pit. The fol inge when first removed fr'om the earth looked fresh green, as if it had juts been r'tAnovedq fo agrowing tree, but faded somewhmat in a few hours.. no reason why thiere should not be an equality of self-i'espeet and of mu. tuial re.spedet, a.n equality of rights be -fore the law, and at least an appro ximate equality in t;he conditions uin der' which each man obtains the chance to show the stuff that is in