The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-08-06


ernor Scott in his message of 1869, says:
s.When the present State Government came
s.into power, found that the Provisional
Government, controlling the State from the
"close of the war, had'contracted many debts
e. among these liabilities was floating
"debt amounting to SIT, $685. This debt was
s1due to various county officials, she7ifs.
magistrates, coronera and other claims
s-asainst the State. There had also been put
sin circulation bills receivable to the amount
aof 1922, OOO." Now we begin to see. day
light. Governor Scott, whose word cannot
be doubted, sets the floating debt, when he
came into power, at S699, 9s5; while his own
Paid Organ declares that this debt was $685.
s73. Here is q difference of $500, coo be-
tween two infallibles- And this is not all.
Governor Scott says that on May I, 1868,
there were in circulation bills receivable to
the amount of s220; 1000. But Governor Orr,
in his message (page ~ says: "On
':the first day of May, 1868, there was out
standing and incirculation Of these bills re-
s.ceivable only sl35, 6S7." Now. ean it be
expected that any faith shall be ,eposed in
the solemn declarations Of Scott and his Or
gan, when they contradict each. other, and
are, both of them, contradicted by Governor
Orr and the State Treasurer under his ad-
ministration? We deny that the Ring adj
,;e,tr I-ifb fhat
they had to provide for, as they claim,
floating debt amounting to sl,351,177. We
admit that the interest on the State debt to
July l, 1865, was 1855, 2o4, according to
Governor Scott; and that there were in
circulation bills receivable amounting to
S135, 6s7, as stated by Governor Orr. We
will throw in 100000 for miscellaneous
claims. This is the result
Interest to July l, 1868. s............. s355, ,204
Bills receivable. Observation-Disclosures. l35,697
Sundry claims. NEUTRALITY-SUSPICIOUS.. 100000
Total. Observation-Disclosures, So3O,S9l
This is the whole amount that the Scott
Government had to deal with, and in pro-
viding for it they issued State bonds to the
amount of s2,5OO,OOO. We need say no
more.
One further statement is, made by the Or
gan Of the Ring. It admits that the debt is
nearly doubled in two years. and by its own
figures convicts itself Of conspicuous mex
actuess But It declares that the four mil
lions Of Blue Ridge bonds are 'in no legal or
technical sense debt to-day" and says
"they are at most ouly contingent debt,
''never, in all human probability, an actual
''debt." Our reply to this is contained in
Governor SCOTS message for 1869, page 5.
Governor Scott there shows that it will re-
quire sS, 600, 900, instead Of $4,000, 600, to
put the Blue Ridge Railroad in running
order, and says:
SIT must be apparent. :. that tie first mort
gage, (s4, ,OO0,O0o,) covering the entire property
Of the company, and the work but little more
than half completed, the 1ohole Investment must
remain as dead capital until the means are
provided to finish the road. In any failure
to open communication with the West, the
State must be the sufferer. 1t would be add
Ing to o direct investment Of million and a
half OF dollars, a contingent liability OF four
millions of dollars, neither Of 1ohich can be
made to pay the accruing interest without the
expenditure of more capital for The completion
Of the road"
This is strong enough; but Governor
Scott, growing more emphatic, tells the
Legislature they must assist the company to
complete the road, ornust "repeal the act OF
September, 1868, ocdere5y Jour million DOL
"larS more of bonds, guaranteed 6y the
estate, euould be sank and made arorthleSS. "
This is all that we have to say at present
On the subject of the State debt. We have
shown l) that the State debt, including the
Blue Ridge bonds, is admitted BY the Ring
to be nearly sl4, 600, 900, as compared with
$500, 900 in 1867; (2,) that Governor Scott
in his message to the General Assembly in
1869, set down the total debt, exclusive CT
Blue Ridge boads,) at Sc, ls3,349, while, in
truth, it was ss,367,79Si (s,) that the Ring
began business WITH S95,546, instead Of
without cent; a, that the Ring Organ de-
clares that the floating debt in May, 1885, to
be paid by the Ring, was sl,35l,l77, while
Governor Scott declares It was only $780,
965, and while Governor Orr's report makes
it about certain that the floating debt did
mot exceed 100000; (5) that Governor
Scott stated that on March, 1868, there were
in circulation s22U,OOo of bills receivable
while Governor Orr and Treasurer Hood
show that the amount was only Sl35, ,6s7;
(6,) that the Ring have issued $500, 900 in
bonds, payable in coin, to meet the floating
debt OF S6OO.0 in currency; ~ that Gov
ernor Scott declared, less tian year ago,
that unless the State furnish the whole So
900 600 or S9,QOO,0Oo required to complete
the Blue Ridge Rold, the $4,000 900 OF
bonds OF that r"mne2y. guaranteed by the
State, will ''be sunk and worthless"
This is exposure enough for one day. and
enough, we believe, to impress upon the peo-
pie more firmly than ever the urgent neces-
sity of Retrenchment ard Reform.
A PUBLIC MEETING was held at the Town
IIon in EhpraW. on the 2Gth ult,. to form q