Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1866-12-05

hundred and twenty seven dollors and seven
ty-four cents (s5, $40, ,227.74.) Ofthis amount
four hundred and eigbty-four thousand four
hundred and forty.four dollars and fifty one
cents (S4S4, ,4445l, is redeemable in 1863
and three hundred and eighteen thousand one
hundred and filty.nine dollars and twenty five
cents (S3lS, 1925 in 1870.
The remainder~of the debt, (not including
three hundred and ten thousand dollars (S3lO,.
O00) already provided for by Act of 2lst
September last. authorizing its funding) is
redeemable from 1875 to 1890.
The interest on the whole Except the Fire
Loan is provided for IF the holders of the
securities will consent to fund IT'D up to the
lst day of January, 1868, by which time it is
hoped the State will be in a condition to
promptly pay interest as it flls due. The
statement Of the Comptroller General, show
| ing the debt and the several periods when
it falls. due, is herewith communicated.
1t is, however, eminently proper that some
financial scheme should be now adopted to
prepare the State to meet the principal of
the debt as it falls due. If the interest is
reo.:.arly paid on the debt one hundred thou
sand dollars annually set apart as sinking
fund. for twenty years, invested in safe securi-
ties, yielding six per cent. per annum, the
principal being further increased by the in
vestmcnt of the interest annually accruing,
will accumulate the sum of three millions
eight hundred and ninety.nine thousand three
hundred and twelve dollars, which will be
nearly adequate to the payment of the entire
debt then due, and / recommend that proper
legislation be adopted at the present session
to inaugurate this schc.=e.
Under the Act of September 2lst, already
referred to- provision was made to fund the.
interest on stocks issued under authority of
the Act Of 1863, to continue the construction
of the new State House. The whole amount
issued was twentyfour thousand eight hun
drod and twenty dollars 1924 S20) The is
sue was not made until some time during the
year 1864, when there was heavy depreca-
ton Of the currency, and when labor and ma
terials were in a corresponding degree ap-
preciated. Four hundred thousand dollars
were issued in 1862, under authority Of the
Act of 1861, when labor and material had
appreciated very little. In my Proclamation
I excepted these two issues from immediate
funding untifthc General Assembly met and
determined whether these stocks should be
scaled to the real value received by the State
for them when issued. The Convention
adopted rule for the government Of trans
actions between individuals during this time
which was Just and honest, and no reason is
perceived why the same rule should not be
applied in transactions between the State and
its creditors.
If the General Assembly should determine
to scale these stocks of either or both issues,
a commission must be appointed TO fix the /.
rates, and the interest can be then computed
accordingly. Should the General Assembly
take no action,upon this subject during the
present session, the funding will be executed
in conformity to the provisions of the Act
aforesaid.
TNE pENITENTIARY.
Pursuant TO the provisions of the Act of
the late extra session, 10 establish Peniten-
lary, appointed Messrs. William Gregg, of
Edscticld, William +. Robertson, of Fairfield,
and Archibald Cameron, of Charleston, Com
missoncrs of tie Pehitentiary "to select
md procure site and to erect suitable
temporary enclosure and temporary cells"
They have performed the duty Of selecting
and procuring the site, and have ordered the
work on the cells to commence. | submit to
you herewith their report, together with the
plans, estimates and drawings Of the entire
establishment, prepared by Capt. I. B. Lee,
the Engineer and Architect. The site is
within the corporate lim;ts'of the city of Co.
!umbia--a plateau Of several acres Of level
.uta.cc, With bold bluff on the canal, rising
some sixty feet above the level of the river.
4 track less than half a mile, nearly al grade,
vii! connect the building with the Greenville :.
Railroad at point one-hat q mile from the
depot.; OF the South Carolina aud Greenyllle
and Columbia Railroad. The water now run
hing through the canal will furnish all the
motive power that will be needed for many
years. It's accessibility from every part OF
tic State by railroad, and the facilities there
ly afforded for the transportation OF prlso-
ncrs, provisions and materials, and for ship
ping tue supplies manufactured, make 1t
most admirable and advantageous location.
Granite. in ineXhaustible quantities can te
procured, if not within the walls, certainly
within stones throw Of them, without any
cost of transportation. Its location, within
the city limits, will allow the number of
guards to be reduced greatly below the force
which would be requisite for the safe, keep
ing Of the prisoners in remote localities where
the population is sparse 1t is believed BY
the architect and Engineer bavins the work
in charge that cells may be in readiness
by the first of January to receive convlcts.
The Engineer aud Architect estimates the
appropriation needed for the rafid and sue
cessiul prosecution Of the work for the next
YEAR at forty.liyc thousand dollars.
| directed the Commissioners who were or
dered to sell tic buildings, machinery, &c.,
ofthe State Works at Greenvile, to reserve
such machinery as might be usetully employ
cd in the manufacture of wood and iron IN
the Penitentiary, when fully in operation.
The reservation was made. and there will be
in the future only trihing outlay needed
for machinery 10 operate most branches OF
manufactures Of wood and iron.
TIE LAND SCRIP FOR TIE AGRICULTURAL AND
MECHANICAL COLLEGE.
In obedience to the resolution of the Gen.
eral Assembly, passed at the special session,
appointed John S. Richardson, Esq, Agent
of the State, for the purpose of procuring and
selling the land scrip to which this State
was entitled under the Act OF Congress, es-
tablishing Agricultural and Mechanical Col
leges. He was furnished with certified
COPY of the resolution, duly authenticated,
and fled it in the Department ofthe Interior.
From communication addressed to me by
the Hon. o. II. Browning Secretary of the
Interior, a copy of which is herewith COM
municatcd, it will be seen that he declines to
issue the scrip until the Legislature accepts,
by Act, the donation in conformity TO the
provisions Of the law of the Congress OF the
United States, making the grant No time
should be lost in securing this muniticient
donation to the cause Of education and