The southern enterprise. [volume] (Greenville, S.C.) 1854-1870, 1863-02-05
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SS26bD,VNI
Making the principal four hnudfcd and
twenty.forr iuillinns. and the intrrest an
nually twenty two millions six hun,lr. d and
sixty.hSe th"Tsana dollars, which VIII save
TO the S"-ihtry f"riy millions of principal
and tw" millions FIVE hundred nnh ninety.
fvr tln'nsand dollars "f annual lat. rest.
Enough has heen said Ia show thn, that
of south Carolina Is the preferable plan.--
so far a. the present debt of the Confatle.
'aev Is coGecrntd, two hurdyrd millions Of
rrd.r.ed londs will he Ilc to arrange
Tor II. IL moro lie nec,l-d mure can. be
guaranteed. The sauie course NAV he pur.
sued with the future issues The circula-
ti"n, il not guaranteed. can hc ,ri,sor bed hy
guaranteed bonds at large premiums. But
nii these advantages win be lost by q gene.
raj gunrautse
have not referred to other advantage.
Which will accrue from the South Carolina
plan. Am"rg Others. Il gives rs definitely
guaranteed bouds from carh State. ,rh...
will be rated at different premiums Nv bid.
der-. aecors!iry oih- value of the SECURITIES
"f each State. The iuduce,n-nt will be a
stranger ore 10 the citizens Of each STATE 10
take It's own hnnds. But the ether plan
gives an Indefinite guarantee. The bond.
already 'ssn.d arc guaranteed by il. Viii
they be called in and others issned in their
place? Here Is au sidhional erpense 10
The G"'Vrrrmrnt, for which L. gains no nd,
vartnge. Or are all the honds 10 be left
with the mere general declaration thst each
stale guarantees il. proportiop. without
any express endorsement on the bonds -
lf 80, how vii, the holders know what pro.
visos exist which may nuIlify the endor.e.
msnt. r, aides does this add ANYTHING ma.
lerial to il'e present movai ohliga,isnf Or
Is each State /" en''orse portion Of each
ioudl Then. in casc "f the failure Of the
Cont, derHt- Government to meet lis obliya.
tons, the holder will have To nrp-ar as the
petitioner Of the Legislature Of each state,
hom Virginia 10 Texss. TO get the portion
of principal and interest of each. Or, if
the States make provision In Pny them, stiil
the coupon for Interest. and The hv6d final.
iy. will have to he sent to III. treasury af
zach State 10 collect The portion due by that
Simte. ~ ~ aI
-, ,B'',. -"pro.s the South Carolina ,oIap is
adopted 50 far as the to,,ds are ecpcrrn,d
und til = are divided an,onc the STATE. aud
u certain number .f bonds endorsed l,v
ahch' There yet remain the Treasury
notes "hd the interest hearing notes already
is-,nd and Yet TO be issned. How can they
b" nrr"rgodf Each guarantees lite prnror-
ton "f Ties" too. How will each know how
much and what ones to Pnyf What. too, Ia
To be done with the unsettled claims npains.
the Gorerns-ni They will likewise Gavc
." lie divid"d. In comparison with ull this
uncertainty and trouble. how simple, how
husinrss like the sale If definite bonds, rn,a
hly endorsed. using the funds realized ,frd!s,
these fer %hat"ver purpose the Govrri. ME MT
may deem best, II bonds nf the Govern ,
meut D" issnrd with an isdefnite en..arse.
mept, simply declaring the bond 10 be
guar araGt.e.l BY the States, . certain proror-
tion on, Zach hond 10y Virgirin, a certain
PROPORTION by North Caroiira. ami 10 like
i'anner f"r the en'hrrs. snci, honds can new
rr be sold. for no capitalist will, take se-
eurity :" divided oui. Rut let bonds. en-
dor-"d by either Of tliasA States. he Offered.
definite bonds with drtinit. sndprs-nent-
nAd they viii be eagerly sought after. .s
4 tinnk Sonih. Carolina Amply vindicsted
if the above positions be correct. If it. he
true 'lIat she hns adopted the simplest and
most definite method; TINT hy her plan the
Coy ernncht will save largely, both in min.
cipni and iRteTest that the amount she has
tend, rid Is enough for the present, asd can
be .incrvasrd for the future: that sIe has
made no.proy isos that will prove en,Larrass.
ing 10 ilo GoyerEnrnt; IL H. be true more.
over, ihat.to have followed AlabaIna would
have hs"n 10 aid 10 fixing upon the Con!,d.
erary. b-yond the power Of Congress 10
remedy. the whole war dsbt, both pin.
opal and Interest, as well for the fsture as
for thc In',, and that too Sithout leaving
to III. Confsdefaey the Legitimate nears IL
Aow hes to dimiuish It's inde ted1~ss, LEI me
ssk In .ssndor, haa she not act cd wisely ssd
cosre.,iyi have tried 10 sh.i,y shat il.ese
fnc,s are 80. For wha,I have written.
ask 81 you ssJ ysur readers PsIi.s, and
eal.did ""ns',icration. s.s.s, JP. r.:
Greensiiis, S. c.. Dee. Sotk, 1864. W Il