The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1868-04-15
From the Eagefeld Advertiser.
Meeting fer the Settlement of the
Debt Question.

of the Committee appointed, by the Meet
ing held in the early part of March, to pre-
pare. Report. proposing some acceptable
plan for the settlement of old debts, our
citizens, from all parts of the District,
focked to the Court House. :.
The meeting was extremely large IN
numbers and very earnest in spirit and IN
tent. At the time the Report was submit
ted, the great Court Room was densely
thronged. The approval and adoption OF
the Report was most emphatic and unanl-
nous.
Below will be found the proceedings of
the meeting, as we received them from the
Secretary.
The meeting was organized by calling
Ex-Gov. Pickcns to the Chair, and appoint
ing J. II. Minis, Secretary.
The Chairman, after succinctly stating
what had been done at the previous meet
ing, read the following Report OF the
COMMITTEES:
COMPROMISE SETTLEMENT OF DEBTs.
The Special Committee have had under
consideration the matter submitted to them
by the general meeting held Sale-day in
March, at the Masonic Hall, and beg leave
to report as follows:
According to the Census, the District OF
Edgefeld had in round numbers $4,000
slaves. These at a valuation of $500, for
which they sold, before the war, would
be eleven millions five hundred thousand
dollars (sll, 800 o,ooo). This was considered
safe and stable property, as much so as
ANYTHING held i'll the South, and it was all
swept off bv the results of the war, and
the acts of the government. The whole
population went into the war with enthu-
siasm, and are equally responsible for it.
We have no data upon which to estimate
the capital vested in stocks and money to
be loaned out, but there is no Just reason
why those wl!o held notes or bonds for
money, should not lose anything from the
face of the notes or bonds, and that the
whole amount, interest and all, should be
paid up. by forced sales, dollar for dollar,
while those who owned land and negroes
should be entirely sacrificed. bya war, in
which all engaged alike, and forthe conse-
ouunces of which, all should suffer equally.
Land has been reduced in value to almost
nothing when forced to be sold in order to
paw money bonds, notes and mortgages.
The labour that made them valuable has
been abolished, while most of our taxes
are raised upon land, and note and bond
holders are comparatively but lightly tax
ed. Now we tllinls it but proper and
right that community thus situated
ought, as Just and patiotic men, to come to
some fair and equitable compromise by
which the settlement of debts should be
made. As neighbors, as fellow-citizens
raised up together in the walks of life, we
owe it to ourselves, to justice, to honor,
after our terrible calamities, to make a
fair and friendly adjustment Of our debts,
and thus set III example to other Districts
in Our ruined and dsheartened State, so
they can see that the District that was
amongst the first TO lead off in the war, as
a band of brothers, was the first to show
that we are still band of brothers, and
that brave men are always just and mag
unanimous.
We would therefore respectfully recon-
mend to the people of Edgefield District,
that all notes, bonds, mortgages or debts
now held, involving any consideration, OF
based upon any obligations incurred dur
ing the recent war, from lat Jan, 1881, to
the lst NAY, 1865, shall be adjusted and
settled upon the basis of 81 gold standard
at the date Of the contract or obligation,
and then placed upon an e4ual footing ruth
debts before the ,car.
We further recommend that all notes,
bonds, or monied obligations of axy kind
made or executed prior to lst January,
1861, with interest, shall be reduced to
tuenty-fue cents in tic dollar, and paid in
currency.
We earnestly urge the general basis of
settlement to be emaGe by all our ncighhors
and fcllow-citizens, and whenever it is not
agreed TO, then we recommend that it be
submitted to an arbitration of three or
five men us the parties may agree upon,
and the whole matter referred to these for
full and final settlement. This would re-
ieve us all from the heavy expenses OF
litigation in our Courts, aud before mixed
iuries, composed in part Of our former
slaves. 1t is well known that the expense
of litigation, under the general distressed
condition of our country. will consume in
most cases two-thirds OF the debts recoy
cred, and if land be forced to pay it, that
the sale Of land now will not pay the other
third
We therefore think the compromise we
propose to our fellow citizens will be bet
ter for both creditor and debtor
As to settlement of debts due by Guar
dians to Wards, or by Administrators and
Executors to widows and minors, we
would respectfully recommend that all such
be made upon the same basis, except that
an arbitration be made by thirteen good
citizens chosen by the parties alternately;
!, ,,rnoorfaI