Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1853-12-07

stock j, -. ....",iT The assets OF the
State, II is necessary to notice this debt III
an estimate Of her finances
The item of $4,000 advanced to con.
tractors for supplying arms under contracts
made by the late Board of Ordinance, pre-
vious tn its ahoishnent 1T the last session.
WAS paid by the Bank upon representa-
ton of the facts of the case from this dc.
par;ment.
The late Board Of Ordinance was EN-.
powered, under the act providing for the
military defence of the State, passed in
1851, to make contracts for arms and muni.
ton of war to the cxtert of S30O,000 The
board, during its cxi-..ence, made contracts
to the full extent of the appropriation and
all moneys que contractors were drawn by
ORDERS from the Executive upon the Irea'
s.ry. In entering upon the discharge Of the
duties of my office, found the balance of
S5l 900 still due, and all Of the contracts
fulfilled according TO slipula,ions. ac.
cordugly gave draft upon the Treasurer
for portion of the amount still due; but
that officer did not regard himself authorized
by law to pay the draft, as no especial au.
thority had been given to the Executive to
draw funds for this purpose after the Ord.
nance Board had been abolished. Under
these circumstances, presented the matter
to the consideration Of the President OF the
Bank, and advised the payment OF these
sums by the Bank, in order TO avoid the
Injury which would inevitably result to Il
portion of the contractors with tho State,
and great embarrassment to all OF them.
The President, with his accustomed llber-
alily of views, at once acceded to my wish.
es, and by his timely relief prevented much
distress, if not positive ruin, to deserving
! individuals, who had been fustered lnto
existence by the State as manufacturers OF
arms. trust that the course which has
been pursued will meet with the approval oi
the Legislature.
BY the act of incorporation of the Blue
Ridge Railroad Company, passed by the
last General Assembly, the guarantee OF the
State upon the bonds of the Company, to
the extent of 81 ,250,O00 was secured, upon
the following conditions: First, that $500
600 should be previous y subscribed to the
capital stock of the said Blue Ridge Rail
road Company in South Carolina, by res
pousible persons, companies or corpora
tons. Secondly, that such subscription:
should be made, or aid furnished to the
Railroad Companies in North Carolina anc
Tennessee, designed to connect with thai
portion OF the Road lying in this State, a;
would give reasonable assurance of th'
construction of the said North Carolina ano
Tennessee Roads. These conditions have
been complied with. The City Of Charles
ton has subscribed S5O0,O00 to that portion
OF the Road lying within this State; an'
Messrs Auson Bangs and co. have con
tracted for the construction of the eutir'
Road, from Anderson, in this State, t.
Knoxville, in Tennessee, which renders tht
connection not only reasonably assured
but as certain as any enterprise of such al
extent can be- By the terms Of this agree
ment the contractors are to receive i'll pay
:, ment one.half in cash, and the other half il
CT capital stock aud niortgaged bonds Of to-
LAT company. BY this mode Of payment' ll'