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. I
COLUMBIA, November %.

Especial Telegram to the News, =
COLUMBIA, November %.
Treasurer Parker has completed q
statement of the. entire debt of the
State, which he reports as being
Sl2,0l3,9OS 9S. All the items in the
account arc given, together with a
long explanatory statement.
The State authorities now hope to
be able to retire. { he loans in New
York, and to save the bonds now
under hypothccation from being sold
by the holders.
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 De made.
LArEn.-Tho principal points Of
Parkcr's statement arc rs follows:
Bond; printed for tho redemption
to bills receivable, 100000; for in
fercst, S2,000,000; for the relief Of
the treasury, 81 600 600; for commits
sions, S70O, 600; for the redemption Of
the bills Of the Bank Of the State,
100000: for the conversion of the
State securities, sS,200,000; for the
sterling loan, $4,000, 900; certificates
of conversion Of stock, $3.50, 900.
Total S22,540,O00.
Bonds on hand in the State Treas
ury not signed: Conversion bonds,
S.. .515, 1000; relief of tho treasury,
100000; interest, $4,000; redemp-
ton Of tho bills cf the Bank Of the
State, S331,0OO; stock certificates,
s2,117,3OO. Totals3.O53 500.
On deposit with tho American
Bank. Note Company, sterling loan
bonds, s6,OOO,00O.
Burned in the Statehousc, interest
bonds, 100000. -.
Destroyed in Now York, conversion
bonds, S500,000. .N
Total on hand. on deposit and dc.
stroycd slO,O43 500.
Used in ordinary, transactions at
the treasury, not affecting the debt,
s2,G53,OOo.
Total to bo deducted from the
amount of bonds printed $4,000, 900,
leaving so:533,OO0 in bonds actually
issued and in circulation. ... -.
The debt statement is as follows
Old debt, sc G65 9OS.9S. less $4,000.
paid last July, leaving s6 453 90s9S
New bonds, as above, 50 $4,000, less
5000, 900 in the hands of Kimpton to
the credit Of the sinking fund, and S3,
773,O0O in use as collateral. This
leaves s5,5GO,000, which being added
to tho old debt, makes the total pres
cnt debt a12 Q13, ,90S.9S.
The explanation accompanying the
statement says that tie facts and data
are open to tho inspection of the pub
lie. The bonds issued and used were
under the act for the redemption Of
tho bills receivable, the act to raist
interest, the act for the relief of the
treasury, the act for the appointment
of q land com missioner, the act fol
the appoint Of a land commissioner
the act to amend an act to appoint &
land commissioner, the act for the con
version of State securities, and the
act to authorize the tinancia! agent te
pledge the bonds as collateral. Tho
three first named acts authorized tho
borrowing of $4,000, 900. Owing te
the great depreciation OF the bonds II
was found necessary TO issue a mucl
larger number of bonds. The act io'
the conversion Of State securities Civ,
| ing authority for moro available and
uniform class of bonds than those
which had3in the first instance beer
issued under the several other acts re
ferred to, the remainder Of the bonds
required to raise the amounts author
lied by the several acts were prepar
ed in accordance with the act for the
conversion Of State securities, to tho
amount above named.
a self.appointed citizens committee
consisting Of Messrs. Orr. Baxter
Brcnnizcr and Pope are now investl:
eating The facts, and will conclude and
report tomorrow.
1t is considered tho height Of i'm.
pudencc to deduct the hypothecated
bonds, which arc not likely ever to be
redeemed, from tho statement OF the
present debt. The war within the
ring is becoming fierce. A bill will be
carly in the session, which
will place the incoming funds Of the
State entirely out of the control OF
Parker, and change the place Of de,
post. 1t is reported that kin.pton
will endeavor to get an indemnity act
passed to pay his fees and disbursc'
D,,,I,