The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1868-07-08
GOV ORRs LAST CoMMUN1CATIoN TO THE LEG1sLATURE


Gentlemen Of the Senate Of Representatives
While legal official relation exists between present
Executive and the General Assembly avail myself the oppor
tun to communicate to respective bodies the information
and statistics which knowledge during my admi
nlstalon pertaining to the material and educational interests
South Carolina The reports herewith transmitted you
executive officers and others
institutions embrace period between the adjournment of the
session of the General Assembly 1866 present
They constitute part of the archives the country
them there would be void in the history the depart
ments to which they refer, during the time Indicated
The reports of most of the officers of the State and those
connected with public institutions brought up
day of May under the impression my would
cease about the middle of that month
Without further preliminary observations call your
attention the several subjects matter public interest,"
such other facts facilitate the discharge your duties
Legislators
BY reference to the of the
to this Department the November 1867 copy of
which herewith transmitted it will public
debt of the State the 1st day of October together
interest which had accrued up the date
ss37s25564 Deducng from this stocks
issued between 1860 and 1866 military purposes
the amounting by the State
the 1st Of October last $5237656 this sum S.
25 23 the principal $16 interest While this debt
small compared with that many States yet the
impoverished condition of the people Carolina
the annual payment of 1881 which upon the
debt at cent in addition to the maintenance
government would be excessively oppressive
The contingent liability of the endorsements of rail
road bonds, is follows
South Carolina Railroad bonds, payable in 1885,
secured by first mortgage $2O93312 4O
Charleston and Savannah Railroad bonds, payable in
March 1877 secured by first mortgage 5O5OOo 90
Norh-Eastern Railroad bonds, payable March L. 1862
Railroad bonds payable in 1s7e secured by "
spartanburg Railroad bonds payable in
1873 and 1879, secured by first mortgage $4,000 OO
Greenville and Columbia Railroad bonds, payable in
1881, 1882 1883 and 1886. observation-disclosures. 94541 21
OF the endorsements upon the Columbia Railroad
bonds 100000 under authority the 1861 $2O
S4SS9 is under the authority of 1866 passed for the
of enabling the Company pay past due and
to fall to the st January
the mortgage and bonds
certificates of Indebtedness The upon the
outstanding debt OF the Company which there
the guarantee having been
the Company surrendered three dollar
of bonds.
The Ordinance Convention adopted on the 18th of March
porting to have been passed Assembly of the State
since the goth day of December d. 1860 pedgng
credit OF the State for the benefit
individual hereby suspended declared
General Assembly shall assemble and rafy the
1t to enter into discussion
concerning the legal force effect of the passed
the Convention various being ques
hon OF their legal validity But point vew
all apprehension upon the subject the reenve
and columbia railroad Company held by citizens the State
and guaranteed by the State the
authorizing the issue of 100000 bonds the Act 1866
providing for certificates of Indebtedness
Of bonds for three to satisfy other Indebtedness of the
which lien existed be validated of
body Persons holding bonds under the Act of 1861 hold them
lieu OF the original mortgage bonds due them the Company
which mortgage bonds surrendered to the Companyte qua
ranteed bonds of the State being taken payment of the
upon the faith of the Act of 1861 would operate gross