The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-21

enough couSterSle onu al8u enouHu oo"
missions to satisfy any broker. What
powers did he have! On August 8, 1858,
the Governor was authorized to borrow
$125, 900, and empowered to use ~ Sc
curity such an amount Of bills reosivs-
bic. bonds Or stocks owned BY the State
as might be necessary. On August
26, 1868, the Governor was authorized
to borrow $500, 900 on the credit Of the
State, the bonds to be sold at tie highest
market price by the financial agent in New
York. On the same day the Governor was
authorized to borrow $1,OOO,oO0 more on
the same terms. On February II, 1869, au.
thority was given to borrow 81 900, 900,
which might be used as collateral security
and sold at the highest market price. On
March 26, 1859, the financial agent was au-
thorizsd to pledge the bonds Of tho State
which the State mow has or may hereafter
haze in its possession as collateral security
for State loans. These were the powers Of
Governor Scott and. the financial agent.
Will the Times deny that any man, not
born idiot, could raise money with these
resources at his command! The officials
were clsmoring for their pay. Votes were
sold in Columbia as fish are sold in the
market. The money was obtained at last;
but at what costt The Times or "the
'young man Of much ability and promise"
may be able to tell.
In the article published by the Times
there is the following paragraph
Furthermore, South Carolina has steered
clear Of the whirlpool which has well-nigh
swamped one or TIVE Of the other Southern
States. She has steadily refused to aid rail-
roads. North Carolina and Tennessee have
increased their debts immensely by their rail-
road subsidies and loans. and have materially
injured their financial prospects"
South Carolina has not steadily refused
to aid railroads. The present Legislature
has given aid to the Savannah and Charles
ton and the Greenville and Columbia Rail-
roads, and it has authorized guarantee Of
$4,000, 900 to the Blue Ridge Rsilroad.
This last rsilrosd was expected to be COM
pleted for ST. 100000. Now it is estimated
to cost 5000, COO Responsible oontrso-
tors can be found who will do tho work for
81, 500, 900; but Q contractor whose price
was about Sc, 0O0, 600 has received the COR
tract, aad Governor SCOTT goes before the
Legislature this fall with modest request
that the Blue Ridge Railroad guarantee be
increased from 81, ,00o, 900 to SO, 00O, 900 or
$40, ,000,0 900. Governor SCOTT did oppose,
ct the last session, proposals to subsidize
the Chatham Railroad, and other schemes.
Why did he do thisf Because the Blue
Ridge Railroad gusrsntee-in which he has
q lively interest-would be almost worth
less if millions were given away here as
freely as in North Carolina. Love for SCOTT,
not love for the State, was the cause Of the
opposition. Any scheme will be run
through the Legislature which has money
in it Paupers need not apply.
Lastly, we say to the Times that this
State is we'll able to pay all the debt of
which We now have knowledge. The peo-
pie will uphold the good name Of South
Carolina; but this will be done in spite Of,
and not by means Of, the existing State
government. We are plundsred and robbed
on all sides and upon all occasions; but we
have some power left, and we are resolved,
as long as we may, to discharge honestly
our every obligation. The Times has been.
duped by some trickster. II it had known
more Of the men who have our Golfers in
charge, it would have said less in praise Of
whatever its good opinion Of
the financial inte gritty of the State.