Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1868-07-17
GOV. SCOTT'S MESSAGE.
THE POLICY OF HIS ADMINISTRA
TION MARKED OUT.
AN IMPORTANT DOCUMENT.

Gentlemen Of The Senate and House O.
Representatives:
For the first time in the history O
South Carolina, her General Assembly =
has convened under Constitution
that recognizes the rights of man
The monopoly of class, by which the
few governed the many, has gone
down before the sovereignty of the
people, and her institutions have been
founded on tho broad basis, that call
governments derive their just powers
from the consent of tho governed"
Our Constitution, recently ratified by
q vast majority Of the voters OF South
Carolina, guarantees to the citizen
every privilege consistent with the
safety Of the State, and invests tho
State with every prerogative not in
consistent with the ghts of the cili.
zen. Sound policy and correct prin-
ciple thus unite in our political sys-
tenn, and it will be your duty, as it
will doubtless be your chief aim, so to
legislate that tho public laws, and
administration Of the, State, shall not
discredit the Constitution under
which you have assembled.
Tho object of al! legislation should
bo the greatest good TO tho greatest
number; equal and exact justico to oil
is, therefore required at your hands !;
aud I have no doubt that each and
every class and locality in the State
will receive their duo share of public
favor from your honorable body.
FINANCE AND STATE DEBT.
The financial condition of the State
will doubtless engage your early and
most attention, and the necessa-
rY uaysaud means be provided, both for
che support of its government and to
saset the lawful demands of its cred.
ttors. foreiga and domestic.
Character is credit, and credit Is
tho very sinews Of the State in peace
and war: Tue obligation Of the
State, therefore, to meot all of it lia-
bi!ities IL founded aliko upon correct
moral principle and sound public pol
icy. This obligation should be tho
more sensibly iolt from the fact that a
Slato cannot, like an lndividual, be-
como the subject Of cocrcive process
10 compel it to meet its just indebted
ness but the creditor must rely sole
sy upon its honor. Tho Convention
appointed q Board of Com mmissio ners
TO Investigate tho debt anu available
assets Of the State, with instructions
10 report the results of their invcsti-
cation to the General Assembly, at
its first session, and as am without
any positive data upon this subject, l
must refer you to their report, which
will doubtless soon ho laid before your
honorable body. will mako this
4patter of the debt Of tho State tho
subject of a special message to the
General Assembly, as it is ono that
yitaliy concerns the reputation Of our
people and tho future credit of the
State.
The information that I now have
places the valid debt Of the State, ex =
elusive of tho war debt, at about fivo
millions, Eve hundred thousand dollars
(s5,500,O00). This debt is very small
compared with that of other States
and the resources Of the State, and if
proper measures are taken to prompt.
ly liquidate the interest due upon it.,
the credit Of South Carolina will stand
as high as that Of any State in the
Union.
would recommend the funding of
the unpaid interest now due upon the
State debt, and also that accruing up
to a period when the State will, with
out doubt, be able to meot her liabili.
ties; and would suggest the 1st of
July, 1869, as the date to~which it
SHOULD be funded. would also rec.
ommend that all bonds of the State
should be made payable in New York
as The financial centre Of the country;
and that all stocks shall be converti-
bIe into bonds, at the pleasure of the
holders. ~
STATE BANK.
I recommend an early and thorough
investigation into the affairs of TN
State Bank, with a view to ascertair
tho liabilities it may have en,ailct
ppon the State, pursuant to the term,
OF its charter It's debts and asaet.
shopid be inquired into, and IL shoplt
be put Into liquidation ss soon as pos
sibls, in order that the just clairnl
against itrmay bsprornptly settled.
BONDS OF ssArs szztoERS AND DEpoa
* "a 1Toay ROB arAEs yuaps.
u In order 70 guard the State. agains
lose by. dsfaleations or otKsswiss;
ons5n o<lx> ~, - n, ~ ., ~ L. al oA3ns.