The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1869-02-18

conviction is forced upon me that it will eventually
have to pay both the principal and accumulated
int crest of the bonds thus indorsed But the bill
goes still further than the acts, TO which 1t profes-
ses TO be an amendment, and provides for the in
dorsemcnt by the State of the bonds ofthe compa-
ny TO meet the interest that accrued between JAN
nary and July ], 1873, still more decidedly
demonstrating the inability of the company to
meet the interest upon its debt ; and the inference
is unavoidable thai similar applications for assist
nnce will be periodically made TO the Legislature
rs the company's interest becomes due or lis fioa-
ting debt becomes unmanagcablc. Whether 1t
arises from the fnct that the section OF country
which is trnverscd by the road is insufficient to
support it, or from the neglect or incompetency OF
those having the management of It's AFFAIRS The
fact is patent that it does not earn meney enough 10
pay The interest the debt which 1t asks the State
to indorse and guarantee.
The legislation of 1866 and 1869, is especially
Objectionable, inasnuch rs it endorses debt con-
tracted during the war, which is specifically pro-
hibited by article TX, section l6 ofthe Constitution,
declaring that "no debt contracted by this State
in behalf of the late rebellion, in whole or in part,
shall ever be paid" And although the company
may claim TINT the Confederate Government did
not pay them for their services, or that the funds
which they received therefor became worthless nj
the close ofsshe war, the provision of the Consitu-
tion is not tie less prohibiting that account.
do not wish to be understood rs desiring 10 inter-
fere between pariesAindividual or incorporate
who contracted obligations during the war but
when those parties attempt to involve the State, ns
indorser or guarantee of such obligations, it is my
daty to remind our legislators Of the constitutional
provisions which restrict their action. The net OF
1861 regard as void and of non effect, as it was
passed by body of men organized in violation OF
the laws of the land, and acting under the authorl-
ty of those who were engaged III levying war
against the United States 10 the upholding and
prosecution of that war the Legislature of 1861
devoted all its efforts and energies, and mmedi
ately succeeding the act granting aid to the Green
willie and Columbia Railroad Company may be
found the act TO authorize the formation of new
volunteer company to be called the Chester Rifles.
Upon this act of 1861, both the act of 1866 and
that of 1869, at present under consideration, are
based, as both are nmendaory thereto. To ap-
prove of this act would be to give force and valid
ity to the action of body not recognized by the
Constitution of this State or Of the United States,
and would be in direct violation of the ordinance
of the Constitutional Convention which ordained
"that all acts or pretended acts of legislation pur
porting to have been passed by the General As
sembly of the State since the Goth day of Decem-
Der, 1860, pledging the faith and credit of the
State for the benefit of any corporate body or
individuals are hereby declared imperative until
the General Assembly shall assemble and ratify
the same. And it shall be the duty of the General
Assembly, at its first session after the passage of
this ordinance, TO attend to the same" Even had
it been the intention of the convention to give
validity and force to this and similar acts of the
Confederate Legislature, which is far from being
clear. the present Legislatures, by permitting
session to intervene after the passage of the ord
nance without attending 10 the duty it imposed
upon them, have lost the opportunity of doing so,
and the power has passed away from them forever.
l recognize in The Greenvle and Columbia
Railroad useful and important agent in the de-
vclopment Of the resources of what is rapidly be-
coming the most populous and. prosperous portion
of the State. Valuable assistance might be safely
rendered to the company by new act. giving the
State endorsement, under proper restrictions, TO
its original bonded debt, and embodyng such con-
dions as would make the company feel its respon-
sibiliiy. Ifi is understood by corporations or ind
viduals that all that is necessary 10 secure the
success of their schemes is TO present bill TO the
Legislature, embracing whatever provisions they
may deem most conducive 10 their interests, and
by assiduous lobbying and other questionable
means force it through, tho State capitol will be
constantly infested with the paid agents and advo.
Gates of every conceivable project by which specu-
ators may hope to obtain control Of the peoples
money.
The present managers Of the Greenville and
Columbia Railroad, by their course heretofore,
have given an Indication Of what may bD expected
from them hereafter. Periodical applications TO
the General Assembly will be made as their debts
become due, until they will have accumulated TO
such an amount MS 10 become utterly unman-
agelble, when the company will be forced into
bankruptcy and liquidation, leaving TO the State
the responsibility of It's heavy debt, and n worn
out railroad not worth one-halfthe sum for which
it is mortgngcd. While the debt of the road is
regularly and rapidly increasing, its value is
steadily diminishing In year or two at most
the track will be rclaid with new iron at very
heavy expenditure, and VIC have every reason to
expect that the State will again be applied 10 for
assistance in this new emergency.
Every augmentation of the debt of the State in
uriously affects its credit and paralyzes its ener
ges while it increases the burden OF the axpayer.
1t is, therefore, incumbent upon those having the
custody of the public treasure 10 guard it with
jealous vigilance; and as The Chief Executive Of
the Stne, it is made my duty to see that the Con-
stitution is maintained and the laws faithfully ex
ecuted. The act under consideration processes to
tie an amendment to an act based upon what pur
ports to be ell act of legislative body not recog-
nzed by this government. Both on the grounds
of unconstiluiionaliiy and incxpediency. | feel
compelled to withhold my assent and | therefore
respectfully return il 10 the Senate without my
signature. ROBERT r. SCoTT, Governor.
rrr1TJ TNc,TTn A N1H5H