The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-09-14


Your attention is earnestly asked to the
following extracts from Ransay's History
OF South Carolina. 1t will cost you but q
few minutes. which, itis hoped. your zeal
IN oehan OF your felIow-citizens will allow
you to devote to it, and servo to warn some
whose literary and historical reputation
has been endangered by their injudicious
opinions and expressions in reference to
proposed schemes for the relief Of debtors.
You cannot fail to see your error, and that
your course will not only involve our State
In all the troubles of discredit abroad and
distrust at home, but ultimately prove to
| you source Of lasting regret.
| If the historian had been writing of re-
cent and now passing events he could not
have expressed himself more to the point.
!tead 1T; learn wisdom from the past, and
40 not, through the public prints and in
your popular and forensic harangues. be-
tray that want Of familiarity with the civil
history OF your country and State, which
friends and constituents expect and should
demand. Cease to inculcate sentiments
at war with the Constitution, the interests
Of debtors and the rights of creditors; en-
courage, by your example, Industrious,
hard work, and we shall soon see briphte
days and happier faces. We are impover-
ished; do not pduperize us by legislation:
common: Assemblies were called often,
and earlier than the Constitution or laws
required. The good and evil Of represen-
tatlve government became apparent. The
assemones az were correct representation
OF the people. They had common feelings,
and their situations were, in most cases,
SIMILAR. These led to measures which pro-
cured temporary relief, but at the expense
the permanent and extended interests
u the community. Laws were passed in
which property Of every kind was made a
legal tender in the payments of debts,
though payable, according to contract in
gold or silver. Other laws installed the
debt, so that Of sums already due. OILY q
third, and afterwards only fifth, was an
nually recoverable in the courts of law
Numbers were clamorous for large ennis
slons OF paper money, armed with the
sanctions of a legal tender"
The effects of these laws, interfering
between debtors and creditors, were cxtcn-
slve: They destroyed public credit and
confidence between man and man, injured
the morals IF the people, and in many in
stances insured and aggravated the final
ruin of the nfcltunate debtor, for whose
temporary relic. they were brought for
ward. The procrastination of payment
abatcd eXertions to meet it with prompt
tude. In the meantime, interest was accu-
T!ulating, and the expenses of suit multi
piled by the number of insta lments At
no time before nor since, were the fortunes
OF attorneys so rapidly or so easily made
At no period has an equal number Of
planters been involved in embarraSsmcuis
from which they we've never eXtricatcd or
only extricated by more than ordinary sac
rilices.
The eight years Of war in Carolina was
followed by eight years of disorganization,
which produced such All amount of civil
distress as diminished with some their re-
spcct for liberty and independence. Seve-
raj apprehended that the same scenes
which had takeu place in England in the
seventeenth century, after :: long ana
bloody civil war, would be acted over again
in America by tickle people, who had
neither the fortitudc nor the wisdom 10
govern themselves. Peace and the most
perfect liberty to make such laws and con-
stltutions as the people pleased, has, 100;
hitherto brought in their train the bless
ings expected from them, but the power OF
making such alterations in both, as pro-
missed to procure them, were among the
privileges OF freemcN.'
Referring then to the Constitution just
adopted, DR.. Ramsay goes OH to say:
3'The individual States were left in full
posS eSsion Of every power for their intc-
rior government, but restrained from coin
ing money, emitting bills of credit, making
anything but gold and silver Il tender in
payment of debts, passing any bill of
attaindcr, ec post .tdcto law, or law impair
ing the obligation of contracts. This Con-
the people Of South Carolina. consisting OF
224- members, by which it was accepted
and ratified on behalf of the State on the
Z.;d day of May, 17SS. Their acceptance of
n Constitution, which, among other clauses,
contained the restraining one which has
just been recited, was an act of great
self-denial. To resign power in possession
is rarely done by individuals, but more
rarely by collective bodies of men. The
power thus given up by South Carolina was
| no oil - bny. "a,
and had freely exercised for several pre-
would not have made at any period of the
last live years; for in them She had passed
no less than six Acts interfering between
tanning a respite for the former, under par
To tie up the hands Of future Legislatures,
ing similar acts on any emergency, was Il
display both of wisdom and magnaninity.
1t would seem as if experience had con
induced Willingness to retrace its steps
| and relnquish u power which had been
improperly used.
tThe new Constitution being accepted by
all the States except two, went into opera
ton in 1889. Its b; :cticial effects were
speedily and extensively felt. 1t was fol-
lowed by funding system which. among
other benefits, gave life and activity to "A
capital of 4,COO,' 90 of comparatively use
less paper in the form of indcnts, which
had been issued as payment to the pco-
| plo of South Carolina for their services and
| lies in lnti Dul, lir