The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1871-11-29
Treasurer Parker Makes a. New Ex.
hibit' of the State Debt. !.
Especial Telegram to the News.l
COLUMBIA, November %.

statement Of the entire debt of the
State; which he. reports as being
A2, ,01s;9OS 49,: ,All the items in the
account arc given. together with q
long explanatory statement.
The State authorities now hope, to
be able to retire the loans in Now
York, and to save the bonds now
under hypothecation from being sold
by the holders. .. ~. &" ....-'@ "-"r
1t is intended TO discontinue the
financial agency at. New York, but
some responsible banking institution
will be designated as the place where
the payment of the interest on the
public debt will be made. .'......'
LATEn.-The principal points OF
Parker's statement ore as follows: 90,
Bonds printed for the redemption
to bills receivable, $5O0,OO0; for in
fereesst, 50, 100000; for the relief of
the treasury, 81 0.0OO; for conilnis-
sions, 500, 200; for the redemption OF
the bills of the Bank Jof the State,
$1,590,000: for the conversion of the
State securities, $s,2OO,0OO; for the
sterling loan, se,OOO,O0O; certificates
of conversion, Of stock, $2,55o,O00,
Total $22,540,O00. ;i' -: ':a',ii' Fl
: Bonds on hand in the State Treas
ury not signed: Conversion bonds
S., $4,000; relief of the treasury
SOL, 900; interest, $4,000; redemp.
ton of the bills Of the. Bank of tho
State, S331,000; stock certificates
2,117, 300. Total $3.053. 300.
On deposit with the American
Banl.Note Company, sterling loan
bonds, s6,0o0,00O. =
Burned in the Statehouse, interes,
bonds, S500,000. ...,..y 80
Destroyed in New York, conversion
bonds, $50O,OO0. ,.s.. ,...> t..
Total on hand. on deposit and de-
stroyed SIC, ,043 800. - ~ ...,,'o .,,% :.
Used in ordinary transactions al
the treasury, not affecting the debt
50, ,653, ,oOo. = H'.,9.s.
Total to bo deducted from the
amount of honds printed -$13, CO.,, 600
leaving $9,533, 900 in bonds, actually
issued and in circulation. .
The debt statement is rs follows
Old debt-$G, ,665, $685. less. .S212.00O
paid last july, leaving Sc 453, 9O8.9S
New bonds, as'above, $9533, 600, less
5000, 900 in the hands of Kimpton tc
the credit Of tho sinking fund, and S.,
773,000 in use as collateral. This
leaves IS, ,560,OO0, which :bsing addict
to the old debt, makes the total pres
cnt debt sig, 2,O13,9O8.98. I'D, !;
The explanation accompanying the
statement says that the facts and data
are open to the inspection of: the pub
Tic. The bonds issued and used were
under the act for the. redemption o.
the bills receivable, the act to raise
interest, the act for the relief: Of. tho
treasury, the act for the appointment
of land Commissioner, the act fol
the appoint Of a land commissioner
tho act to amend an aotf to appoint
land commissioner, the act for the con
version, OF State securities, and the
net to authorize the financial agent to
pledge the bonds yas collateral. The
three first named acts authorized tho
borrowing Of $780, 900. Owing &c
the great depreciation OF the bonds il
was found necessary to issue o much
larger number Of bonds. The. act fol
the conversion Of State securities. Civ.
ing authority for a more available and
uniform class of bonds than those
}whiehohad inathe first instance .Jbeen
issued under the several othor acts re-
ferred to, the remainder of the bonds
required to raise tho amounts author
lied by the several acts were prcpar,
ed in accordance with the act for tho
conversion Of State securities, to the
amount above named. .g.,.- 9
A self:appointed citizens committee,
consisting Of Aessrs. Orr, Baxter:
Brennizcr and Pope are now investi.
eating the facts, and wiltconcludc and
report tomorrow. ...,.. -, ::
1t is considered the height of i'm.
pudence to deduct the hypothecated
bonds, which are not likely ever to be
from the statement of the
present debt. The war within the
ring is becoming fierce. A bill will be
early in the session, which
will place the incoming funds of the
State entirely out. of the control OF
Parker and change tho place of de-
posit. 1t is reported that Kinlpton
will endeavor to- get an indemnity act
passed to pay his fees and disbursc-
monts::Z :.::...-& PICKET.