The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1865-11-22
CHA r I, i S T @ n
WEDNESDAY MORNING.. NOVEMBER % iai5

WEDNESDAY MORNING.. NOVEMBER % 1855
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The suE<rloH of ,lc relief Of Ga; ci!iscns,
to some extent, from their condition Of peeu-
mary embarrassment. has already been cor
sidcrcd in our columns. and The public min!
seems composed upon the proposition to pro-
vide, if possible, for the expenses Of the cur
rent year without resort to tazes. But there
is feeling that even this is not enough; that
while it will give relief to many persons who
are SO reduced they could not raise the funds
for taxes, and provide the necesEaries of subsis-
tence, it does not supply the dcsideratum;
that the paramount want now is of capital,
and of capital particularly in agricultural
pursuits; that planters have not the funds with
which to carry on their operations now, since
wages must be paid, and paid regularly,
and in advance Of products: that they
must, of necessity, therefore. contract opera
tious, or suspend operations. ~ dispose Of their
estates for the pitt"nce tli"J would now bring
in market: and to the end. therefore, of tacli-
tating the cultivation Of the land, and OF pro-
tecting prorrietors in tic remnant Of estates
there is a desire to still further extenl the
policy. and, if it be possible, to raise innd
upon the credit of the State, with which to
extend to business interests the facilities they
so much require More particularly is this the
feeling, when it is regarded as imperative to
repudiate the debt which. though small, is
still available capital III the hands Of many
persons, and which, withdrawn, will leave the
destitution creator than it IS
The policy of granting State aid to INDUS
trial enterprise in normal conditions Of society
is cmnently vicious, as is llia practice OF taking
medicine in perfect health: but when the State
is stricken by misfortunes. such as those which
have fallen on us, it is no. only proper, l,t
imperative, to draw upon the reserve Of its
resources for the immediate strength to bear
up under them. The case is exceptional, and
as an exceptional case necessarily requires
AN exceptional policy; and while the aid
of the State at ordinary times does tend
70 diminish enterprise, and encourage men at
the loss of their own muscle TO lean on Hercu-
les, and finding that the ca- Of progress can
run without them, does tend to make them
rather inclined to ride on that car than help
to pull it, still the matter nov Is OF pressing
exigency. 1t can lie no precedent for other
times, for no such times can ever come again:
and if they shall, i: were proper we should
have precedent 50 necessary made f1r the
occasion.
We are inclined % 'rge, therefore, the
adoption Of this po,icy. There can he no loss
to the State OF any fund she may have 10 offer.
The landed interest may be pledged for the
debt to portion only Of its 7s]uc. The fund
expended would increase the products Of the
State, and increase, therefore, lis taxable re-
sources j; will increase. .lso, the value q the
land, and thus increase The value Of the socur
ity: and The principle, therefore, Of giving the
credit Of the State. q; ;his particular time. TO
increase her OWE capital, when thai capital
is 50 necessary 10 tie first steps towards im-
proyemcnt, We heartily approve. As 10 the
details Of the plan-whc:hc- the credit should
he upon real estate alone, or Oh personal Sc
curities as well, OF 70 planters alone. or To
other business sintcrests-are questions 0fimpcr-
tance, of course, but nov necessarily involved in
the original proposition, and may be settled
when they properly arise.
Whether such fund can be raise1 by the
State in the present condition of affairs, is,
perhaps, to be questioned; but the credit of
our State has always been high. She owes
but little now; that little, when forced to the
act of reputation, now ezacted, will be less.
There never will be question of that sense
Of moral obligation to pay the debt; there
will be as little ground to apprehend another
compulsory reputation. The fund received
would be expended in developing the resources
of the State, which would further secure the
hondholders. There is vast capital 1T the
North seeking investment and even abroad
there is IN abundance, and desire for secu-
rites that pay The interest we would offer.
The question Of dissolution is now finally set
lied; and we think it lui;c probable that
.ntnoy mav hc had upon .i.c c.c,i: % illa State
om better tcrms Il present i:.;n il could hcfore
the war. Ii, therefore, j! c.n .c had. We ,hini,
ii were l'rope: 10 make he cf,rrt. ald we
world councnd the me;:=:,-c - ;hc members
Of the Legislature sncn ;:' ..."c;, ;.d i. il >lall