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/ V. * t- , Thursday, May 15, 1952 TriE CLINTON CHRONICLE Page SereH S. C. Looks To Revenue Surplus Of $12 Million ■ ■— ♦ Columbia, May 10.—South Caro lina’s state treasury will be swelled with a surplus of at least $12 mil lion by tile end of the fiscal year if the general fund revenue con tinues to rise during the last quar ter as it did in the first three quar ters, a financial statement issued by the state auditor’s office this week indicates. This statement from State Audi tor J. M. Smith’s office shows that 11 sources of revenue exceeded the general fund estimate at the end of three quarters and all but five of the remaining 42 sources of revenue showed a gain for the nine-month period. Here’s how the picture looks at the end of three quarters Esitmated revenue needed for the year, $99,343,520. Amount received for three quar- OFFICE SUPPLIES Complete line, all the little items needed for the office. CHRONICLE PUBLISHING CO. Phone 74 Dr. Fred E. Holcombe OPTOMETRIST " Offices at 200 South Broad St. Phone 658 Office Hours 9:00 to 5:30 ters, $81,772,580. Balance needed last quarter, $14,570,940. Biased on collections for nine months the income and retail sales tax should produce approximately $16 million during the last quarter. That will be sufficient to meet the estimate needed for the last quarter with $1,500,000 to spare. If other revenue sources come up to the estimate—and most will exceed the estimate -*• that will mean $10,150,000 more in revenue, and when added to the $1,500,000 overage will bring the total sur plus to $11,650,000. Revenue from the sources that have exceeded the estimate should be sufficient in the last quarter to produce $350,000, thus bringing the total surplus to $12 million. From the surplus must come $5 million for the State Hospital. This fund was appropriated and the Budget and Control Board author ized to issue bonds for that amount. However, the act pro vides that if the surplus is suffi cient that the money be used with out the issuance of bonds. The financial picture was a bit dismal when the .estimate of state revenue was made. The outlook for revenue from the income tax was not bright at the time but col lections from this source have ex ceeded all expectations. Now it ap pears that the income tax revenue will top $30 million, about $3 mil lion above last year’s revenue. On the other hand, 1 the reta il sales tax, estimated to produce $35 million, will go to about $37 mil lion, it appears. An estimate of this tax was purely a guess, since finance officials had no basis for an estimate. It was originally es timated to produce $31 million. The general fund revenue does not include state highway funds. The revenue from the various highway sources has gene beyond the estimate and may top the esti mate by several millioq dollars. 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Washington May 14.—The furore of divergent opinion over the Pres ident’s seizure of the steel mills ini the national interest continues to occupy congress with almost con tinual debate in one form or an other. As a result, a log jam of im-j portant legislation is backing up.. Attempts to slash specific appro-j priations with which to run the steel mills, to cut off all appropria tions for this purpose, which failed, filing of impeachment reso-, lutions by Congressman Robert Halle of Maine, one to have the ju-! diciary committee study whether the President should be impeached, i another to declare seizure of the s steel mills as unconstitutional were; all handled by congress. This latter of course clearly invades the pre- 1 rogatives of the court, which did j declare the seizure unconstitutional, t i Congressman George H. Bender, Ohio, has a bill for a special 11- member bipartisan committee to study impeachment possibilities; Congressman Howard Smith, “Vir ginia, a bill to condemn the seizure, and Congressman Fred Coujlert, Jr., New York, a joint resolution to prohibit use of federal funds to carry out the seizure order. The rider adopted by the senate on a supplemental appropriation i bill to prohibit use of funds in that! particular bill was meaningless, i since no funds involved could have I been used-ahyway.- * * * Senators Ferguson, Michigan, Knowland, California, Bridges,- the minority leader, and Capehart, In diana, took the lead in seeking to tie the president’s hands on appro priations. They lost their amend ment, however, which would have prevented qse of any federal funds on a vote of 47 to 29, short of the necessary two-thirds majority to suspend the senate rules. Thirty-six Republicans, and 11 Democrats all southern senators, joined the Fer guson contingent, while 29 Demo- i crats opposed. In the debate over constitution ality of the President’s action. Sen ators Humphrey, Minnesota, Mc Farland, Arizona and Morse, Ore gon, carried the brunt of the debate in support of the President’s Lnner- ent power under the constitution to seize the steel Tnitts, There is lit tle qustion however but that this moot question will go to the su preme court before there can be any definite opinion as to the Pres-j idential power. In the meantime, although the congress has the clear right to do so, it has done nothing about legislation which would make clearcut the President’s power by statutory authority. There are no statutes on the books now which govern the question. « * * Senator Morse, considered by many the best constitutional lawyer in the senate, maintains that the President does have inherent pow er, but that there is another ques tion which the courts would also rule upon and that is as to whether such seizure was “reasonable” :n the light of the national emergen cy. According to constitutional law yers and observers here, the gov ernment is operating under a state of national emergency with which Congress has concurral by pass ing the national defenre act setting up allocations and price and wage controls. Further, the Congress has set up by statute, the size of the army, the number of airplanes, the num ber of ships which must be pur chased, appropriated billions of dollars to be spent for these pur poses, and has delegated to the President as comm®nder-in-chief i power to carry out these statutes, i Many precedents have been set by former presidents. The most recent and analagous ! one, being seizure of the North ; American Aviation Plant at Ingle- | wood, Cal., by President Roosevelt six months before Pearl Harbor, where on account of a strike, pro duction was at a standstill. The j then-attorney General Robert Jack- i son justified the seizure as growing : out of the “duty constitutionally 1 and inherently resting upon the President to exert his civil and military as -.veil as his moral au thority to keep the defense efforts of the United States a going con cern” as well as “to obtain supplies for which Congress has appropri ated money and which it has direct ed the President to obtain.” Mr. Jackson is now an associate Justice of the Supreme Court. SAY: “I SAW IT IN THE CHRONICLE** THANK YOU OFFICE SUPPLIES Complete line, all the little Items needed for the office. CHRONICLE PUBLISHING CO. Phone 74 J)r. Felder Smith Optometrist Laurens, S. C. 126 EAST MAIN STREET South Side Public Square ROUES FOR EYE EXAMINATIONS: r.M to 546 Wednesdays 9:M to 12:St Phono 7S4 We Do All Kinds of • • • W I • • • 'Except Bad’ Office Supplies A COMPLETE LINE OF HANDY EVERY-DAY NEEDS IN THE OFFICE. — 0 What Your Customers Read and See Makes the Most Lasting Im pression Always. There is no hit-or-miss when mer chants and business firms use THE CHRONICLE to reach their potential customers in Clinton’s trade area which this newspaper completely covers. The life of the weekly home paper is longer than that of any other adver tising medium. 0 romc 4 “The Paper Everybody Reads” AAA National Evaluation Rating for i tising