The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-02-02
An Appeal to the Common Sense Of
the Legislature.
ro THE En1ToR oF THE NEWS.

finance committees OF the respective houses, 10 the
disgracelul deception which reckless North
ern adventures, aided by the Exec ative and ns-
cal officers Of the State, have practiced upon the
people concerning the duties and responsibilities
OF certain fortune.huntef, dubbed the financial
agent Of South Carolina.
The local habitation OF this gentleman Is
the City Of New York, but he can discharge
himself long enough from his very ponder
ous affairs there to visit Columbia to secpre
the passage of the Infamous Gold bill by the
Legislature, and generally to instruct US what
laws should be passed concerning our finances
and taxes. 1t Is readily admitted that without
such an instrument as Mr.. Kimpton Is, located at
the centre OF the wealth and money power and
roguery OF the Union, the schemes OF our public
plunderers whom l have named would be alto
rether abortive. To them, therefore. he Is a ne
ccssary piece Of machinery. But utterly deny
that In any way such an agent as Mr.. ktmpton
Is set up to be by the Governor Is essential to the
management Of our finances; and the law, under
which his appointment has been made, and
under which the Executive shelters himself, mas
been wifully perverted and misintcrprcted.
Mr.. Kmpton's agency Is paid agency, and
there Is no authority in the law for paying to him
any compensation whatever for his personal CON-
missions. 1t has been stated In the public papers
fand this fact stands uncontradicted that, to this
time, this agency has cost the taxpayers OF The
State about seuentv-Sfr thousand dollars ts'6,-
ooo) Into whose pockets has this enormous sum
OF money gomez Why, into those oil Mr.. kimp-
ton and his "ring." The hardihood or this Wnole
scheme, its wickedness and impudence, trans
cends all precedent OF corrupt governments
known to history. The term "erpenSeS" !" used IN
the acts on the subject, has no reference TO per-
sonal compensation, and the appropriation OF the
funds of the State for the private benefit OF Kmp-
ton & Co. By the Governor or any one else, Is a
gross misuse OF those funds, and without war
rant of law. 1t is nothing short of an act OF pub
lie plumber, perpetrated by high officials who
imagine that they are not amenable to law De-
cause they are In the chariot OF power which may
be driven over the law with impunity.
Who does not know that any bank In New York
would Jump at the opportunity OF performing all
the functions which 1t Is pretended Mr.. Kimpton
discharges for the State in that city, without
charging any commission whatever? There Is
nothing more acceptable to banks and bankers,
of the very first class and credit than deposits,
because to bank In deposits is regarded perlectly
| legitimate and safe, while the trust and conll-
dence of the deposition enlarge and fortily the
credit of monied men and corporations. The
| truth Is, Mr. Kimpton, according to the custom
and usage OF banks and bankers, tas Is abundant
Is proved by circulars before mel should be made
to nav interest on the daily BALANCES In his hands
in favor OF the State, for the reason that these
balances are an actual capital at his command
which he manages for his own benefit. To say
therefore, that the disbursement OF the money o
the people to pay this so-called financial agent o
the State for keeping the funds and negotiating
her bonds In New York has legislative authority
| is cheating deuslon and q disreputabc impost
| tIon upon the incautlous confidence OF neXperl
enced lawmakers and untutored guardians o.
the popular interest.
But mart from the question Of the misuse o.
the funds Of the State to pay financial agent fol
doing what any responsible bank or mixer ir
New York would be glad to do for the remunera
ton incidental to the trust, 1t Is Important ior u
to know great deal more about Mr.. Kimptou thar
our people do. He holds constantly In his hands
q large amount OF tile funds and credits OF tilt
State. Through his fingers enormous sums oil TIT
money OF our people pass, and these sums arr
about to he Increased by the million. Now, II
reference to these funds, deny that there Is any
statute Of the State defining his duties, or secur
ing the faithful rulnlment OF them.
II Is said that Mr.. Klmpton has voluntarily glver
a bond to indemnify the State against his posst
bic fraud and failure, and consequent heavy Loss
to our people. We'll, | ask, whose names MAKE
TINT bond secure, and where Is the law requiring
him to execute it, and making 1t, therefore, M
oalcial bondY There can he no Official bond, un
less that bond be given by public officer undc
tile requirement OF law; and deny, polntedly
that In the contemplation or by tile authority 0
any act OF the General Assembly OF this State, Mr.
KImpton, in the legal acccpfatlon OF the tcrm i
an officer OF the Stale.
Nur will the very Intelligent Attorney General
whose exploration OF New York for lnancia
agent for his friends, resulted In the discovery
this wondrous, precious genius OF finance, an
nounce contrary opinion. The bond he ha
given r, indeed the fact be so, as suppose II Is,
| is not an 0Mcial bond, enforcbe ut law agains
him In case of his delinquency In thleycry. IT.
not q contract with the State, for there Is no law
regui,ing its execution. 1t Is rumored that Mr.
Klmpton has not only given to the State rotan
tary bont but that it is bond with responsible
suretlcs. But If the bond itself be nullity, how
can 1t be enforced against the surctlcs thereto
! have right, however, to deny that Mr.. Klmp
toms bond has any suretes to 1t, inasmuch al
the committee raised under Senator Arnlm's reso
luton did not SO report to the Legislature. Tha
committee did not even examine the so.callet
bond of this prodigy In banking; they only fount
such a paper spread upon the records OF the Sec
retary OF Stale. Now, the obvious duty of the
committee was to look into this whole matter
and by their report lay before the General Assem-
by the whole facts as to Mr.. Kimpton's rela
tion to the finances of the State, ant
| by it, II practicable, assure the people
who nay the taxes on which the government
lives and moves, that their funds and lands were
| amply defended against the reckless enterprise:
and piracics OF an obscure Wall street broker ant
shaver. I am more than grieved to know that
Senator Arnim, who, although stranger among
us, appears to possess, In common, ain glad tC
say, with Senators Cain and Wright, int gritty
moral and political courage, did not dcnounce the
whole inquiiy OF this socalled financial agency OF
the State In New York, anu urge the Legislature
TO alopt the most e1cctual measures O( security
against fraud and thc perilous private misuse oil
the funds and credits OF the State in connection
with it; and I solemnly warn my fcl0w-citlIens
in the General Assembly on this subject, lest they