Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1865-12-14

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that the interest and part of the principa
should be- collected annually; that th,
whole sum may be collected when the debt
or attempts fraudulently or olandestinely Il
remove or dispose Of his property that th'
law should not apply to debts contracted af
ter its passage, nor should any indulgence
be given in casssof tresspass or for torts tt
person or property Committed before or at
ter the passage Of the ACT.
Serious ineonyeuisncss often result from
the difficulty and delay 10 securing char
ters for railroad, manufacturing, mining and
other companies, intended to develop the
wealth and resources of the State Much
time is necessarily consumed in the consid.
GRAFTON of each application, and the statute
book is encountered with these numerous
acts of incorporation. 70 facilitate the
formation of all companies where men are
willing to venture their means to develop
the industry, wealth, prosperity and resour.
ces of the State, I recommend the parsage
of q general act Of incorporation, and when
its provisions are complied with, thar the
subscribers to the capital stock be declared
body politic.. -
By Act of the General Assembly in
1887, the State lent its credit to secure q
loan for the Louisville, Cincinnati and
Charleston Railroad Company, and authori-
zed the Comptroller.G General to endorse the
bonds of the Company, pledging 'sthe faith
and funds of the State to the faithful per-
formsnce of the, contract" The bonds,
amounting to two millions of dollars, were
issued and endorsed, and will fall due the
first of January next. The Company can
not pay the bonds, and the State is unable
at the present time, to make good theSeu.
dorsement It is believed that the princi.
pal bond-holders are willing to extend the
debt for twenty years longer, if the State
will renew her guaranty. The State has a
statutory mortgage on the road, and upon
its renewal, recommend that authority be
given the Comptroller General, or the Trea.
surer, to renew the endorsement of the new
bonds, that may be required to liquidate
the old bonds. No increased liability on
the part of the State will be incurred, and
we may reasonably anticipate that, within
the next twenty years, the Company can
pay the bonds, principal and interest,", aud
save the State harmless on its guaranty.
communicate herewith resolutin Of
tie Board of Trustees of the South Carolina
College, recommending that the College, be
converted into a University. heartily con
cur in the propriety of the proposed change.
By adding to the present professorships
schools for the study of law, medicine and
modern languages, thorough scientific,
classical and professional education may be
obtained by the young men of the State.
The increased number of students which it
will attract will make the University near.
ly self.supporting; aud with an sppropria.
tion of seven hundred and fifty dollars to
each of nine professors, this venerable and
much reyered institution may be continued.
II would be reproach ifsuoh an inconsid-
erable sum. was refused, and the alma
mater of AIoDufie, Harper, Preston, Les
gsre, O'Neilf and Pettgrew permitted to
pass away and perish. 80 - -.
also recommend that the Board of Wis
itors of the Military Academy be author
ized to change its organization, and if pos.
sible, continue it a selfsupporting institu.
ton. The building in Charleston is adapt,
ed to the purpose, and cannot be we'll ap,
propriated to any other object. It's occupa.
tion would, 10 great extent, preserve the
property from waste and destruction. With
a competent corps of instructors, practical
education could be secured in less time and at
less cost than at other collegiate institutions,
and the military feature in its organization
would secure the habit of discipline so es-
sential to success in all the pursuits of after
life.
1 am informed that there lisa quantity Of
property of various descriptions belonging
to the State in different localities, which is
wasting or being appropriated to their own
use by individuals. In the general wreck
as much should be saved as possible and
such articles as may not hereafter be needed
by the State should be collected and sold,
and the proceeds paid into the Treasury.
An agent should be appointed, with full
authority to take possession of all such pub
lie property, and sell the same. Where
property has been appropriated BY indiVid.
uals, the agent should be authorized to com.
promise with them; and if he cannot ne.
gotiate just settlement, that he institute
suit, in the name of the State, against the
trespasser; in-which action no stay of ex-
acution on judgment should be allowed the
defendant This agent should be compen.
stated exclusively by commissions on all
amounts which may be paid into the Treas
.ury. gs ,.s.
> You have been diligently employed,
since your meeting, in maturing laws for
the organization of the militia and for the
regulation of the rights and duties of freed.
men, and doubt not that you will perfect
yeAr legislation on these subjects before
your adjournment. Our policy toward the
freedman should be kind and humane. II
his rights of person and property are not
fully and efectually secured by our local
We can not hope to be relieved
from the presence of the Military and Pro-
vost Courts The authorities of the Uni
ted States will not remove their protecting