The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1869-12-23
HOYT & CO., Proprietors.

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bucket. Pass this Bill, said he, and you
increase the State debt one,half. He said
if this Bill be passed, and gold should go
up to so per cent. the State debt is In
creased So ,O91, ,674.5s. If rs per cent is
paid for gold, the increase is 81 ,545, 1913
1this is on the principal of the bonds.)
lie said if gold is purchased at so per
cent. to pay interest falling due in Janu-
ary (s3SS ,00O) it increases it to $4,000.
He desired to know if members were pre-
pared to do this, and would they dare do
it and then face their constituents; if SO,
thew will drive them.from their position
that they had deceived them and proved
recreant to the trust confded in them
He said we are not officially informed of
the financial condition of the State, and
he believed the Comptroller-GencraPs re-
port had been kept back. lie said who
are these bondholders they arc men who
care nothing for the people ofs'outh Caro-,
lima they are strangers from abroad, ana
came here to lobby this infamous measure
through they bought bank bills at 10 to
Is cents and now want gold bearing
bonds. He said that two-thirds of the
State bonds were issued with the under
standing that they were payable IN cur,
rency, and for this assertion he detied
contradiction. He trusted if any benefit
was to be derived from legislation, for
Gods sake give it to the people OF our
State who need it, and not to strangers.
Turner (Democrat) opposed the Bill
and reminded members of the Importance
of the measure, and to pass which would
be hazardous step. Ho said if this is
passed. those who favored it will be
damned by their constituents when they
returned homo.
Bosemon opposed the Bill and said al
though not native Of the State, he felt
deep interest in the welfare and people
of the State, as we'll as for his constitu-
cnts. He did not understand this talk
about increasing the State credit. De-
velopo our resources, said he, and the
State credit will be good. He deemed
this only scheme of certain bondholders
to realize at the expense of the taxpayers
of South Carolina. Why, said he, is so
mnch interest manifested in this thing!
The motive is readily seen. Ii this Bill
passes and should become a law, these fel-
lows. these grasping bondholders, will sell
out. pocket the proceeds, and good bye
South Carolina. Pass this Bill, said he,
and you "kill the goose to get the golden
egg, These bondholders, like vampires,
will suck until there is no blood left. Io
paw these bonds said he, in anything but
currency in the present impoverished con-
dition of our people, is perfectly mon
strous. He thought it singular that mem
bers who recorded their votes against this
measure. now favored it. He would not
charge corruption put he was not blind
to the fact that certain parties were about
lobbying extensively. Lie had not been
illuminated" but probably some persons
had.
Hyde opposed the Bill and hoped the
enactinq clause would be struck out He
said he was in favor of any measure to
increase the State credit, but be doubted
the possibility of the proposed Bill doing
it. He thought the Legislature was
treading on dangerous ground. He did
mot believe in the notion that some friends
of the measure had advanced, that by
making tho bonds gold bearing, holders
of bonds falling due in October next
would exchange, because there would be
no necessity for an exchange. The State
debt. said he, would be increased, and on
lv bondholders benefited. He believed
it bad financial policy, and would injure
the whole people. The Democrats will
rejoice if this measure is passed, and he
p1blcans would have to meet the qucs-
tion on the stump next fall, and he eau
toned members that those who danced
would have to pay the fiddler. He said
he would vote against the Bill because he
did not deem it public necessity.
Purvis spoke against the Bill, charac.
tcrizino it as a damnable measure, and
one calculated to do no good to the peo-
ple of the State. He was very severe
upon the bondhoIders, and expressed his
viiows regarding the purchase OF the State
Bank bills.
DeLarge favored the Bill and contend
ed it was not, as the opponents of the
measure asserted, an act of oppression and
one tending to increase taxation. lie said
the liabilities of the State was brought
about by the party formerly in power in
this State. This debt must be met, and
by paying interest in coin it will advance
the bonds. He said Do this and bond
holders will exchange bonds falling due
in 1870 and III for gold bearing bonds
He denied the assertion made by the gen.
tIeman from Anderson (Moore) that these
bonds were issued to be paid in currency.
He said there was considerable talk about
bonds bought at ten and twelve cents
He said he never knew them to be lower
than .wenty-six cents since the war, and
he desired to know whether cvory man
did not have right to buy what proper
ty he pleased and realize as much on it as
he could? Who would dispute that?-
Further. said he, he honored those men