New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-14
SOUTH CAROLINA.
The Taxpayers ConventiOn-Report of
the Committee of Eleven Adopted.

CHARLESTON, May l3.-In the taxpayers
convention last evening, Mr.. George A.
| Trenholm, from the committee of eleven,
submitted lengthy report on the financial
condition of the State. The grand total OF
| the debt is fixed at 49, 1863. 100 The sum
total of unsold bonds Sl,S00,000. The re-
port recommends that the Governor do not
| sell any more bonds at less than eighty per
cent, and to proceed to New York to make
| the most economical arrangement for hold
| ing the above mentioned 81 800, 900 pledged
as collateral until eighty per cent becomes
| attainable.
The committee further recommends that
| when redeemed a portion of this sum be ap-
| piled to the payment of the fire loan debt.
| The report says that it is quite reasonable
| to expect from the exhibition of the exact
| condition of the finances of the State, an
immediate considerable advance and facil-
| tiles for holding them off the market. 1t APP
pears to the committee that the various
| issues and sums of bonds described have
unquestionable legality and force as obli-
cations of the State.
The committee believe that retrenchment
may be effected, and that it is the shortest
avenue of escape from Our financial diff
culties. Less than $500, 900 in gold will pay
the interest on the funded debt; 81 200, 200 4,
should defray the interest and all the ex-
pens :.
The committee recommend the adoption
of the following:
Resolred, That it is the sense of the con-
ventiun that the funded debt of the State,
described in the committees report is a
valid debt, and the honor and funds of the
State are lawfully pledged for the redempS
ton thereof.
Rcsolred, That plan for the arrange
ment of the public debt suggested by the
committee be recommended to the favor
able consideration of the Governor.
l. Ia II
examination of the accounts of the fiscal
agent the committee of eleven be author
lied to send subcommittee to New York,
with authority to assist by counsel, at home
or in New York, in the proposed negotia-
tions for the adjustment of the funded debt.
ReSOlved, That the Governor hereby is re-
quested to review the various expenditures
and use his authority to arrest extravaganza,
and substitute economy and accountability
in every department, and that he be earn
estly solicited to adopt s 200, 600 as the ut
most limit OF expenditure; also, that he
exert his power to diminish the taxes in the
same ratio.
Resolced, That the Governor be requested
to destroy the cancelled obligations of the
The resolutions were unanimously
adopted.
The committee of eleven made report
of the interview with the Governor, the sub
stance of which is as follows:
To recapitulate, your committee under
stand his excellency as having committed
himself to the following propositions:
First-That he signed no other bonds than
those set forth in the debt statement made
by the Controller General, and that there
has been no fraudulent or illegal issues
Second-That the State and county of
fcers, both elective and appointed, have
| been unnecessarily multiplied, and should
be reduced in number and many in pay.
Third-That many officials charged with
the administration of justice have been in
competent and inaccessible to the people,
and that the many disorders complained OF
in the State have been created by this
course, and that he will replace them with
competent persons whenever he can do so.
FOurth-That he is in favor of the COM
mutative system of voting and minority
representation, and would be glad to see it
made part of the law of the State.
Fifth-That the election laws are defec-
tive and lead to fraud, and should be mate
rally amended, and that he will exercise
his influence to that end.
SiXth-That he would have the collection
of the taxes next November postponed un-
til the first of March, 1872, and not enforce
the penalty for non payment until that time
Finally, the committee recommend the
following suggestions:
The legislature insuring the full payment
OF royalty on phosphates; the repeal of the
acts granting exclusive franchises; a stop
put to the drawing of money from the treas
ury for alleged legislative expenses, on the
order of the Speaker of the House and
President of the Senate: that all appropria-
tions and bills ought to specify the items
under each general head; the reduction of
the number of State and county offices; the
enactment of a law limiting each session of
the legislature to thirty days; repeal the
law giving salary OF $2500 to the Adjutant
General; to give each officer but one salary,
and to abolish the commission to certify the
laws. The report was adopted.
The convention then resolved itself into q
(cONr1NURD ON EIGHrH PAoEl