The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1870-05-05
VOLUME 5---NO. 45.
State Securities.

No one can deny but that the bonds Of the
State have rapidly risen in value during The
last year. Is this Improvement due TO an in
creased confidence in the present admihistra-
ton, or the energy and prosperity of our citi-
zens in the face of every difficulty ?; Wehow
it is blazoned forth by the opposition press as
q living, speaking testimony in favor of the
radical party, but is itnot due to other infu-
ences? The condition of the State at the close
Of the war was deplorable. Broken in spirit
and fortunes, without local government or
organized labor, there was momentary de-
spair before reaction took place. The status Of
the State was doubtful and the propriety of res
pudiation was freely discussed. After eensti-
tuition was for med and civil law re-established,
this feeling OF dependency gave place to de-
termined effort on the part Of our citizens to
repair their shattered fortunes. The disastrous
results in our farming operations for the two
years succeeding the restoration of order will
not soon be forgotten. The drought and utre-
liable labor left the planter yield scarcely
sufficient to meet the expenses incurred in the
production of the crop, and the production of
breadstufs was incapable of supporting our
population. Our people were fed from the
charity of the general government, and 80
great was the scarcity of provisions that the
Legislature proposed that the State stretch its
credit by becoming public almoner. Under
these circumstances, the payment OF the inter
est on the State debt was deferred, the holders
of interest due being authorized to fund their
coupons. What more could be doneY WI!
any one possessed of the ordinary feelings of
humanity condemn the course pursued under
the circumstances In 1868 Providenee smiled
upon the efforts of the farmers; and q large
crop was harvested. At the beginning of our
material prosperity, the present administration
was inaugurated, and the first rise in the value
of the State bonds grew out of the Act passed
to provide for the payment of the interest on
them. The intention to do so was clearly ex'
pressed by the preceding Legislature in author.
izing the funding of the interest. Our State
debt was small, and as our growing prosperity
became known, our ability to pay, and conse.
quently our credit improved. The increased
confidence in. the permanency of the present
government, and the continuance OF peace, has
had its due effect in appreciating, just as the
previous uncertainty and confusion had an IN
| fluence in depreciating them. Is the present
administration entitled to~the credit or is it
due to the people, whose energy, industry and
economy have enhanced the prosperity OF the
State and developed anew its material wealth
Every one knows the present administration
have increased the number and salaries Of
officers and tripled the former expenses. Are
high taxes, a multitude of officers and cor.
rupt Legislature the true essentials to good
credit?s The fact is, the present regime is an
obstacle to the true credit of the State. The
rise in our bonds only shows that the spirit of
our people has lifted them above the many diff.
culties growing out of the present government
The plume they are trying to appropriate is
stolen one. In claiming the. credit not due
them, they are playing the jackass in the Lions
skim Wal,tulla Courier.