The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-08-17
The Financial Schemes Of the Negro
LeRislature-Their Inevitable Fate

the subject Of the TanalCy, III Ine oyee Va
this people, of the loans which may be
effected, and the bonds and bills receivable,
which may be issued, by the organization
which calls itself the government of South
Carolina. It is written by gentleman of
high position and unsuHied integrity, whe
was the president of one Of our banks in
the better days of Charleston, and who is
now anxious, above all other things, that
the honor and fair fame Of the State may
always be preserved. To his arguments we
can add but little; from his conclusions no
thoughtful citizen is likely to dissent.
The Legislature now in session in Colum-
bia is an illegal and unconstitutional body,
whose acts have no enduring power or force.
Revolutionary laws made of South Carolina
military satrapy. The word Of q military
despot evoked out of chaotic mass Of alien
knaves and misguided negroes what was
known as constitutional convention. That
convention did not represent one ten-thou-
sandth part Of the. taxpayers Of the State,
nor did it represent the intelligence, hon.
esty, or desires Of our people. The conven-
ton wss the creator Of the present Legisla-.
ture, which consists of q. body of white,
Radicals who sell their votes in open mar
ket, and of deluded- colored men who toll
and sweat that they may elevate their white
coadutors and depress their own race.
They have one idea in. common, which idea
| is to plumber the treasury as best they may
till their little race is run, Money is their
principal aim, and the State, already de-.
pressed and worn down: by the losses Of
war and the uncertainties Of peace, il, pSS
posed to be taxed to desth to crafty ahe
f;sppetites Of her mongrel legislators. =
To raise money, all the machinery Of acts
and resolutions will be set in rapid motion;
but we hold dthstthe bsdy Of men now known:
as tho Legislature Of South Carolins, is an
unconstitutional assembly, and we hold that
its acts are void from the beginning.
Whether il be in one year or in FIVE years,
the power Of the State will ultimately re-
turn to the hands Of those who are the
State, who comprise its industry, intelll-
genoe and property, who have been taxed
for its support, and who, FOR more than half
century, maintained its credit inviolate.
When that day comes, the acts Of this so
called Legislature will be wholly annulled,
and erased from the statute book which they
defaoe.
No bonds issued by this so-called Legis-
lsture will ever be paid by the people of
the State. No loans contracted by it on the
security Of deposits Of stocks or bonds, or
other property Of the State, will ever be
recognized, and they who lend the money
will be held accountable for any injury that
may accrue to the commonwealth. No bills
receivable, issued by the so-called Governor
Of the State, with the sanction Of the pre-
tended Legislature, to carry on an illegal
government, will be permitted to be received
in payment of the taxes of the State. The
debts Of South Carolina can only be paid BY |
the white people. They cannot be paid BY |
the penniless white adventurer or the i'm
provident negro, and the white people Of
South Carolina are determined and resolved |
that no moneyed obligation contracted by
authority Of the existing Legislature and
its officers, shall ever be acknowledged, re-
cognized or paid.
Money the Legislature must have, or it
will melt away like snow before the sun. That
money cannot come from within the State; for
every respectable white man in it knows the
folly Of lending what will never be repaid,
upon bond that can never be enforced, or
upon collaterals which he would never dare
to sell. The money must come from the
North, and it is our duty to warn the oapi-
talists and financiers Of the country that
they might as well throw their dollars into |
the sea as lend them to the usurping body
in session in Columbia.
In the past, it has been our pride to meet
manfully all our obligations, and we propose
to do so in the future. But money borrowed
by the schemers and leaguers, who style
themselves our Legislature, is not borrowed
By the State, and for it the State will not
be responsible. The same spirit which
would cause Carolina to suffer any sacrifice
rather than disavow any constitutional
claim, now impels her people to declare that
they will not pay any debt that may be con-
tracted by an unconstitutional government.
They give notice in time, and declare that
when South Carolina is again under the
control Of her legitimate rulers, every dol
lar of bond and bill issued, and Of debt
contracted, by the illegal and unconstitu-
tional organization now in power, will be
promptly and decisively repudiated.
immigration from Maryland.