The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1860-08-28
2Ins aiase S2aiIraaa.
- From the Charleston Courier.
To the Hon. Edward G.. Palmer.

field Advertiser, and presume, will have
u rapid circulation in the District papers.
In that letter you assert that the cost
ofthe road in South Carolina and Geor-
gia, up to the first of December, 1859,
had exceeded the estimate to the amount
of 100000. You also charge the officers
of the Company with having grossly Vi
olated the conditions of their charter"
and of having acted in "bad faith"
Though 1 am most averse to personal
controversy, am constrained to appear
in defence Of the officers of the Company.
I do not intend to- present an official
statement of the cost of the road in South
Carolina and Georgia. This l cannot do
without the assistance of the Treasurer
and Chief Engineer, who are not in the
city. Besides, it would take a long time
todissect and apportion the many accounts
comprising the expenditure Of two and al
half millions of dollars, so as to make an
accurate statement of the cost of the road
in each of the States through which it
passes Your letter appears in the midst
of the canvass for the election of mem
bers to the Legislature. In order to
counteract its effect upon the elections, it
is necessary that my reply should be
prompt. Want Of time and of needful
assistance for an accurate statement Of
the cost of the road in South Carolina
and Georgia, must confne me to strict
reply,
You assume So ,65+ O34 to be the csti-
mated cost of completing the road in
South Carolina and Georgia on the first
of November, 1856. For the present pur
pose I will take that to be correct. From
the report of tho Treasurer, and certain
assumptions and calculations Of your
own, YOU attain to the conclusion Of an
"ercesS of cost orer the estimate up to De-
ccmber, 1885," to the amount of 5000, 900.
will examine your statement in the
sense in which nine persons ont of ten
willunderstand it, viz: That the actual
cost of constructing the road in South
Carolina and Georgia, to December, 1859,
exceeded the estimated costto the amount
of 100000. An. Engineers estimate of
cost is made up by calculation Of the
several kinds of work and material ne
ccssary to make railroad completed or
only half finished, as he may be directed,
and the quantities and prices of each, by
which lie obtains the sum total of the
costs. When you compare the actual
cost with the estimated cost, you must
restrict the comparison to the subjects of
cost in the estimate. If you charge, as
actual cost, interest and discount on bonds,
The expenses of law suits and the like, of
course, the actual cost must exceed the
estimated cost, for mono of those contin-
gent charges are comprised in the esti-
mate.
/ think can show III your statement
of the s'excess of cost over the estimate, Z"
errors to an amount exceeding s500,000.
It is necessary, in order to make plain
your errors and mis-statements, that |
should present the Treasmers account of
expenditure" in his report of 1885, and
also your statement by which you attain
aresult so surprising.
1t may be proper to premise for persons
not acquainted with bookkeeping, that
the Freasurer's books are kept in the usu-
al form. In his report he has headed the
Debtor side of the account "Receipts, -
and the Creditor side Expenditures. D
All the entries in the two columns are
not actual receipts and expenditures, but
some are made Gas is necessary to ex-
plain the true state of the account, and
exhibit the correct balance of the trans
tions which are entered:
s;ExpENDITuREs."
For construction, $1,07S, ,320 II
Iron, lOl,23OOi
Engineering, l66,o994o 40
Expense-Salares Printing, Legal
Advice, Suit of Bangs & Co., 7o2s9.19
Real Estate for Depots, &c., 9,274.95
Right ofway in S. Carolina, S4,395.00
Right of way in Georgia, $4,000
Right of way in N. Carolina, 10000
RIGHT of way in Tennessee, S.35850
-'s-''' wy 9,9ss. SO
Locomotives and Cars, 3S,741.95
% Interest on mortgage bonds, s44,7o598
Less on sale of Bonds and
' - $685. 9e
Due bv Anson Bangs s. Co.. 2,OS2. &c
Due by surdry contractors, o,odl. ~ IL
Transportation expenses, 4,l02.3t
Repairs of Road way, 1,701.5s