The sun. [volume] (Newberry, S.C.) 1937-1972, August 15, 1941, Image 4
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Newberry County Pays 19 Per Cent of Total
Revenue on Interest of Debt, Says Spectator
Any farmer wishing to profit thru
a side crop might think of the unus
ual opportunity to market peanuts
which may be enjoyed next year. To
day we have three candidates in the
field during a short campaign; but
next summer there will be a campaign
not only for the united States Senate,
but for Representatives in Congress,
for the Governorship of the State and
all other State elective officials for
Representatives in the State. Legisla
ture and half the State Senate. It
might be a propitious time to sug
gest to our friends of the “Triple A”
that suitable benefiits be allowed for
a peanut crop.
There are men among us who are
never so happy as when delving in
figures—our friend. James M. Smith,
the State Auditor, for example. I
have run into another gentleman who
delights in interpreting figures—Mr.
W. Boyden Watkins, Chief Examiner
of the State Board of Bank Control.
We are all familiar with the type
of businessman who thinks with a
^pencil, whose mind will not work un
less he is making figures. Just as
some men may rejoince in a delicate
ly attuned bit of poetry, or the sup
reme masterpiece of an illustrious
composer; so there be brethren among
us whose souls are aflame with the
joy of numbers. One such has made
a study of our counties, our friend
Watkins, and from his devoted labors
I cull some acts of interest.
Let us look at a few counties at
random: Abbeville, Allendale, Ander
son, Bamberg, Barnwell, Chesterfield,
Darlington, Florence, Greenville, rior-
ry, Marlboro, Newberry, Orange
burg, Richle.nd and York. Here we
have small counties and large coun
ties; counties of the low country and
counties of the Piedmont; counties of
the Pee Dee and counties of the cen
ter.
Some of the counties have lost pop
ulation between 1920 and 1940, as
example, Abbeville which had 27,139
in 1920 and 22,931 in 1940. The Ass
essed Valuation of all property like
wise decreased from $3,857,000 to $3,.
692,000, but the tax rate seems to
have climbed, for it rose from $24 on
every thousand dollars of value in
1937 to $36 per thousand in 1939. It
had outstanding in unpaid taxes
$132,971. The ratio of debt to Assess
ed Value is 9.4 per cent. The ratio
of interest requiremei.us to total re
ceipts is 21 per cent.
Here is something which we find
in many counties and which the pub
lic reckon with: THE HIGH COST OF
DEBTS. We see in Abbeville that 21
per cent of the total receipts must be
. devoted to the payment of interest
charges on the public debt.
We turn from Abbeville in the up-
country to Allendale in the low-
country. Allendale lost in population
between 1920 and 1940. The Assess
ed Valuation of property fell off
about $200,000. The delinquent taxes
amounted to $140,700 and the ratio
of net debt to Assessed value was
12.9 per cent, with the ratio of inter
est requirements to total receipts 15
per cent. Now let us take Anderson
County, which is a great agricultural
and industrial county: It’s popula
tion increased from 1920 to 1940 and
its property valuation increased
slightly. Its tax rate remained about
the same in 1937, 1938, 1939. Its de
linquent. taxes totalled $79,898. The
ratioi of net debt to assessed value
was 6.7 per cent and its ratio of in
terest requriements total receipts was
7 per cent in 1939.
All these figures are through V,i39,
in matters of dollars and cents.
Speaking of the heavy cost of debt,
the good county of Sumter pays 23
per cent of its total receipts for in
terest on the public debt. Richland
County pays 7 per cent of its receipts
for interest; Orangeburg County 16
per cent; Newbery County 19 per
cent; McCormick County 20 per cent;
Marlboro County 20 per cent; Mar
ion county 3 per cent; Lexington
county 1 per cent; Laurens 11 per
cent; Lancaster 19 per cent; Ker
shaw 6 per cent; Jasper 9 per cent;
Horry 8 per cent; Hampton 10 per
cent; Greenwood 12 per cent; Green
ville 12 per cent; Georgetown 10 per
cent; Florence 11 per cent; Fairfield
10 per cent; Edgefield 14 per cent;
Dorcheter 19 per cent; Dillion 7 per
bent; Darlington 5.6 per cent; Colle
ton 23 per cent; Clarendon 10 per
cent; Chesterfield 22 per cent; Ches
ter 18 per cent; Cherokee 7 per cent;
Calhoun 4.5 per cent; Beaufort 17
per cent; Barnwell 11 per cent; Bam
berg 0 per cent; Anderson 7 per cent;
Aiken 5 per cent.
Just think of a man obligated to
pay 20 per cent of his income as in
terest on debts! Would you call that
sound financing? Would it be sound,
even if he paid 20 per cent of his in
come on the principal of the debt?
But to let interest charges devour
one’s income like that would not im
press any one as sound business.
I must, of course, respect the
source of my information. Bankers
may be poor politicians and guess
wildly about political trends; but
when it comes to figures, they hit the
nail on the head, a:.d of all figures a
banker excells in the calculation of
interest! You know the uncanny
habit bankers have of proving every
thing by dollars and cents. You may
think your bank balance is wrong and
go down to the bank with blood in
your eye. But the bookkeeper will
pull out two or three checks that you
gave over the counter, or in expan
sive moments, and leave your dang
ling in the air.
When I read these figures I thought
I might trace certain nationalistic
tendencies. The sturdy Scotch of Mar.
ion held down their debt to 2 per cent
of assessed valuation, with interest
requirements of 3 per cent of the
county’s income. The unpaid taxes
don’t amount to much; the population
has steadily grown; the assessed
valuation has remained about the
same, but the tax rate has fallen
from $18.50 per thousand dollars of
assessed valuation to $10. Just off
hand, Marion justifies the tribute of
being Scotch.
I was about to say that Lexington,
with only 1 per cent of its revenue
for interest, was an example of Dutch
thrift and management, but Orange
burg and Newberry are Dutch too,
and the Orangeburgers have to pay
16 per cent of their revenue for inter
est and the Newberry citizens pay 19
per cent. Calhoun is Dutch and backs
up Lexington by paying only 4.5 per
cent of its receipts for interest. Cal
houn saves the day for the cause by
owing virtually nothing in back
taxes. One must yield the palm to
little Bamberg which owned nothing,
though it carries some unpaid taxes.
Is tbeie a wee bit of Scandinavian in
fluence in Bamberg? Before the vora
cious maw of Hitler gobbled them, the
Scandinavians were among the best
governed nations of the world.
Over in the Welsh neck, land of the
thrifty Welsh, Darlington paid 5.6
per cent of her income for interest on
debt, while the ration of debt to ass
essed valuation was 5.5 per cent, in
spite of $185,597 of delinquent taxes.
There is no justice in blaming our
jrepresbntaltivpe for bad conditions^
when these conditions are due to pub
lic services demanded by a very vocal
and persistent group of citizens.
Those who favor sound business in
County and State affairs must learn
to be as vocal as the plungers. These
are all cold, unemotional figures, I
know; but after what the weather
man has done to us in recent weeks
we can stand something cold and dry.
Great business enterprises are pay
ing heavily of their earnings to the
Government. As we have noted be
fore, frequently a much greater vol
ume of output results in much less
net profit, because of higher wages
and taxes. Republic Steel, for ex
ample, reports a decline in net in
come due to higher taxes. The Unit
ed States Seel Corporation produced
5,101,606 tons of finished steel dur
ing the second quarter of this year,
operating at 102.4 per cent of its
theoretical capacity. This was 3 per
cent above the production of the first
quarter. 3 per cent more production
virtually doubled the taxes in some
items and trebled them in others. In
come and Excess Profits taxes for the
second quarter were $32,800,000,
against $11,800,000 for the first
quarter. Total provision for taxes
for the second quarter was $57,000,-
000, compared with $27,600,000 for
the first quarter.
A large motor manufacturer re
ports sales of $700,000,000 for the
second quarter, or $50,000,000 more
than for the first quarter: Its tax
bill was $93,000,000 for the second
quarter, against 75 1-2 millions for
the first quarter. $50,000,000 more
of business added $17,500,000 to the
taxes.
For the week ending July 26, rail
road freight loadings were 897,399
cars, 25 per cent above the same per
iod of last year.
THINGS TO WATCH FOR—
A built-in tiny light for dial tele
phones in dark rooms, which goes on
automatically when receiver <is lifted,
and vice versa. . . Something new in
rubber bands—one equipped with but
ton and button hole! A new electric
coffee-maker that can be adjusted
to make exactly the same brew every
day. ... A fruit juice dispensing ma
chine in which you drop a nickel, sel
ect any one of six flavors, puncture
the lid on a built -in- opener, and
drink ’er down.
Ouch!
“And what”, asked the teacher,
“do two ducks and a cow remind you
of?”
“Quackers and milk,” said the lit
tle boy.
JUST KIDS—Stayin’ In.
•- O t •
\
f limit MOMENTS IN »IO LIYeS
WlEk) ALFRED CEEVCP, (S&MERAL MAWAGEG 0T THE AJATIGMAL
AUT0M0&ILE CHAMBER OF COMMERCE, <UAS WOT RACING Ob) BlCVCLE?
HE AND THE (SAME 1 WENT THE TIME RAOlNS CAT BOATS' OOWA) 0/0
GGAVES'EWD BAY-
S. C. Cotton Crop
Smallest In 83 Years
Columbia, Aug. 8.—Frank 0. Black,
statistician with the U. S. Depart
ment of agriculture, said today “con
ditions on August 1 indicated that
the smallest cotton crop in South
Carolina since 1878, preceding a
crop of 428,101 bales compared with
966,111 bales made last year and
1930-39 average of 824,011 bales.
“The most unfavorable weather
and heaviest weevil infestation
since 1922 account for the outlook of
only 44 per cent as much cotton as
was made last year,” Black said.
“The forecast assumes average
weather conditions during the re
mainder of the seasin, and if influen
ces affecting production should prove
better than usual, final outturn could
be larger. . . .”
The indicated yield per acre of 166
pounds compares with 375 made last
year, and is the lowest since 1922,
when only 140 pounds was made,
Black said.
PWA ADDS 7 MILLIONS FOR
SANTEE AID
Washington, Aug. 5.—John M.
Carmody, federal works administra
tor, announced today President
Roosevelt had approved an additional
loan of $3,850,000 and grant of $3,-
150,000 for the Santee-Cooper hydro
electric and navigation development
in South Carolina.
The additional $7,000,000 brought
the PWA financing of the undertak
ing to $47,025,000. The added funds
were said to be necessary because of
the increased cost of the work.
The South Carolina Public Service
authority, Carmody said, had 1 been
speeding construction to make power
available for defense industries. He
said the increased costs were attri
buted to higher costs of labor and
materials; need for additional land,
increases in value of farm lands nec
essary for the development, and an
advance in the date of initial genera
tion to meet defense requirements.
MEASURE TO RAISE DEFENSE
FUNDS TRIPLES TAXES
Washington, Aug. 4.—The siffest
tax bill in the nation’s history, de
signed to raise about $3,206,200,000
to help finance the defense program,
was passed by the House late today
by an overwhelming majority after
being stripped of provision requiring
married persons to file joint, income
tax returns.
The measure, which now goes to
the senate, would virtually triple
the taxes of persons in the lower in
come brackets and would tap the na
tion’s business firms -or an addition
al $1,332,900,000 through surtaxes
and more drastic excess profits taxes.
It went through by the top-heavy
roll-call vote of 369 to 30.
Elimination of the joint return pro
vision lopped about $323,000,000 from
the bill’s originally estimated yield.
(By filing separate returns, married
couples sometimes pay lower taxes
because of lower rates. This is es
pecially true in the nine “community
property” states, where a husband
and wife can add up their incomes,
split the sum in half and each report
half for income tax purposes.)
President Roosevelt had appealed
for modification of the joint return
provision of exempt earned income
from such returns.
Members of the ways and means
committee and other legislators
warned the house that elimination of
the joint return would inevitably
mean higher individual income taxes
to compensate for the loss.
On the other hand, opponents of
the provision contended, it was a
blow to women’s rights, that it was
unconstitutional and unfair. Spokes
men for the community property
states declared some of those states
such as Texas and California had had
community property laws ever since
they were admitted to the union.
As the bill passed the house, it
would raise about $829,000,000 from
individuals through a drastic sys
tem of graduated surtaxes starting
at the first dollar of taxable income,
They would range from 5 per cent to
75 per cent, the latter rate applying
to income over $5,000,000. The pres
ent normal tax rate of four per cent
was unchanged but under the new
plan a married man with no depend
ants and earning $2,500 would pay a
tax of $38.50 in contrast to his pres
ent tax of $11.
SEEKS TO CHECK INSTALLMENT
BUYING PLAN
Washington, Aug. 6.—Control of
“dollar-down-dollar-a month” buying
as a means of curbing inflation was
recommended to Congress today by
Leon Henderson, head of the office of
price administration.
Resuming his testimony before
the house banking committee In
support of the administraiton’s price-
control bill, Henderson expressed be
lief that the Federal Reserve board
had the power, under the 1933 emer
gency banking act, to control install
ment credit.
“If there is any doubt of that,” he
said, “some such authority should be
written into this bill.”
Yes, It Hurts, Too!
Jomes C had the misfor
tune to hurt his hand last Thursday
while working which is quite painful
—Albion (N. Y.) Advertiser.
AIR CORPS RECRUIT FINDS
TIME FAST IN ITS FLIGHT
Salt Lake City, U.—Time in its
flight almost clip«ped the wings of an
anxious army air corps recruit here
—before they had even sprouted.
Henry Clair Outzen of Marysvale,
Utah, was still within the air corps’
26-year age limit for cadets when he
passed final army examinations, but
neglected to enlist. It was more than
a month later when enlisting officers,
Checking records, noted that one day
remained before the would be 27, and
too old to fly. A hurried telephone
call to Outzen’s central Utah farm
home and an equally frenzied dash
here by automobile salvaged the
youth’s flying career. He enlisted
just a few hours to spare before the
the age deadline.
Smart Fellow
Zudi: Have you noticed that mos*
successful men are bald ?
Dinocan: Certainly, they come out
on top.
A LATE SUMMER FARM GUIDE
Some of the many phases of farm
work important for attention in late
summer are listed below by County
Agent P. B. Ezell.
Agronomy
• Plan now for abundant winter le
gumes for soil improvement, the
most economical way to increase soil
fertility. Do. not pull fodder; it is
extremely disagreeable, and expen
sive practice, and reduces the yield
of corn. Clean up weeds everywhere
to prevent seeding. Give cotton
harvesting consideration and determ
ine not to pick green or wet cotton.
Insects and Diseases
Plan now to make next year’s
wheat, oat, and barley crop as dis
ease free as possible. Plow under
old crop remnants soon after harvest
to destroy insects. Control bean
beetles with ratenone dust or spray.
Begin cleaning up the orchard and
destroy all fallen fruit. Clean up all
fly-breeding places and use formal
dehyde poison and trap:. Clean corn
crib of all weevil-infc./ted refuse.
Examine wheat for “weevil” damage
and fumigate if necessary. Plan to at
tend the Beekeepers Short Course at
Clemson College, August 26 and 27.
Horticulture
Plant the fall garden for better
farm living. Be sure a large turnip
patch, enough for the entire farm.
Beans planted in late August often
bring a good price. After peach har
vest cut out all broken limbs, as a
preventative for short-ftiole boners.
Clean up ground where vegetables
have matured, to lessen insect and
disease damage next season.
Agricultural Engineering
Get the mowsr and rake in good
running condition for hay harvest.
Use August leisure time to construct
repair and paint farm buildings. Make
grain storage buildings rat-proof. In
vestigate the posibilities of instafling
running water in the house by using
a hand pump, a hyraulic ram, or oth
er low-cost system. Also investigate
possibilties of garden irrigation from
small streams.
During any day’s schedule pause
and turn to refreshment right
out of the bottle—the buoy
ant refreshment of ice-cold
Coca-Cola. You’ll work better
refreshed.
You trust its quality
plus tax
BOTTLED UNDER AUTHORITY OF THE COCA-COLA COMPANY BY
NEWBERRY COCA-COLA BOTTLING COMPANY