The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-12-22
THE Blink OF THE STATE.
TO THE EDITOR OF THE NEWS.

TO THE EDITOR OF THE NEWS.
The Legislature having passed an at tc
close the operations of the Bank of the State
and authorize the funding of all of the bills
issued prior to the first Of January, 1861, seve'
raj questions are thereby suggested which are
respectfully submitted to your readers.
When we're the bills in circulation issued?
II issued after the commencement OF the
war, or loaned to the Confederate Government
(which is fact known and recognized by both
Democrats and Republicans, is the =; money
thus issued orloaned to be paid by the State oi
South Carolina?
The fact being indisputable that ut Last six
hundred thousand dollars, and perhaps more,
we're loaned by the Bank of the State to the
Confederate Government after the first day OF
January, 1861, is it intended by the act OF the
Legislature to redeem these bills9
II so, does not the Fourteenth amendment OF
the constitution expressly prohibit the pay
ment of any debt contracted to aid the rebel
lion?
All of these bills, without exception, are da-
ted prior to the 1sCof January, 1861, and if the
Governor, the omptrolor-G General, the Treas
urer, or the Legislature, will call before them
the officers of the bank, it will be found that
every dollar loaned to the Confederate Govern
ment was o. this issue. The act OF the Legis-
lature is therefore clearly unconstitutional, or
the constitutional amendment has itself been
regarded as nullity.
1t is we'll known that in the United States the
State banks have issued and reissued and again
reissued their own bills. and the law OF South
Carolina prior to the war required the banks to
pay out their own bills instead OF the bills OF
other banks. In the Bank OF England, when q
bill is once returned, tbs forever cancelled; but
the cost of engraving and printing IN this coun'
try is go enormous as to compel banks to use
their bills as long as they hold together.
Such was the kind OF currency issued by the
Bank of the State of South Carolina to the Con-
federate Government for the express purpose
otsustaining the war, and thousands OF soldiers,
in 1861 and 1862 received thei- pay in these
Does the government of the State intend to pay
this war debt? In the face of the Fourteenth
amendment how can it do so and be justified!
The act to fund these bills and give bonds
to their owners, makes no provision whatever
fol- ascertalnipg what bills were issued before
and after the first of January, 1861, and, as
above observed, the date affords no indication
of this fact.
In view of these circumstances, the tax
paving community have right to call on the
Governor, Treasurer, lomptroller-Generala and
Legislature to review The subject, and to re-
quire all parties holding the bills OF the Dapk
to prove that they were issued, bona tide. be-
fore the 1st OF January, 1861, and not subse-
quently reissued as part Of the loan TO the
Confederate Government. It that fact cannot
be established, then every bill ought to be re-
jected, and no bond should be issued which the
people must eventually pay, or can be forced
to pay under the provisions of the Fourteenth
amendment
viii the Legislature provide means to this
end 80 that the public may be Satisfied that a
lust discrimination has been made? II they
do not, they will be derelict in duty, i'm.
pose an unrighteous burden on the people OF
the State, and ignore part of the constitu..
ton which has given them their very life and
BILLHOLDER.