The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-12-07
COLUMBIA. s.. g.
Thuraaay- Morning, December 7.1s7l.

~ ~ ~ ANA--lS Ne We
Thursday- Morning, December z. 1871.
A Popular View or oar; state Flnano
and our Present Financial Condition
80. S.s e- sss,.ss
We propose to present to our readers
what may be regarded q popular view Of
our present financial condition. We
propose to appeal to facts and figures.
This will enable us to advance to our
conclusions with precision. SO long as
we confine ourselves to the field OF mo-
raj augmentation, the gates of debate
remain wide open. the field is very wide.
and our propositions, however true, fair
and logical to one mind, may seem the
reverse TO another. IN suoh lines oi ar,
gument, il is hard to reaoh conclusions
that may be set down as indisputable.
Suoh, however. Is not the case when we
employ facts and figures. In these cases,
it is possible to proceed with mathema-
tical accuracy and directness. Here we
move in right lines, reason upon fixed
data, and are enabled to reach the last
analysis OF things. The testimony thus
occurred as to any given proposition meg
be deemed the testimony of the rocks
as certain and as sure as the everlasting
hills. That two and two make four
that an acid aud alkali will, when CON-
bined. produce a salt-are propositions
which cannot be disputed.
We congratulate ourselves that in fix
ing the. responsibility for the present
ruined finances Of the State upon the
present regime, and more especially upon
the State ring OF officials, we shall use
arguments oonctusive and unanswerable.
because based upon facts and figures
that are acknowledged. Out of their
own mouths shall We condemn the men
who have brought this financial incnhus
and blight upon an otherwise struggling
and impoverished people.
We begin now at the beginning.
According 10 sne statements made aud
reiterated, the old debt OF the State is
set down at Sc. .665. 9OS. 9s-this being
inclusive of bonds issued under present
administration. under Act of September
16. 1868. for funding bills OF Bank Of
the State OF South Carolina, amounting
to $1,255. $50. We start, then, on this
basis. The present Administration be-
gins with State debt of Sc. 6e5, 9O8. 90.
What is the State debt now? a
The Comptroller General and the State
Treasurer both make it for November /.
1870. $7,665. 1908. SO.
In tue summer of the present year,
Gov. Scott reports it to the Congres.
sional Ku Klux Committee at about
$9.5OO,OOO. :is.
Attorney. General Chamberlaip. an lis
Chester speech, in August. 1870, asserted
that the whole public debt OF the State
was but Sc. 1873, ,34e.17. w-r >
In November, 1871, Gov. Scott and
Treasurer Parker make the State debt t<
be $l5. .787, ,9Os. 80. -l
In Deoember. 1871. the Joint Investi
eating Committee of tho General Assem-
bly, put the State debt at $40, ,s55, 900.
exclusive OF 100000 sterling loal
bonds in hands of American Bank Not.
Company. 79raas.,. ~
Thus it Is acknowledged that in abon
three disastrous years; the State debt il
admitted to have grown from Sc. 665.
908.9S to $l5. .767, ,908 9S- showing al
actual increase OF SO. 1O2, 900. Or, as
suming that the report of the Joint In
vestigating Committee of the House il
established. there is possible inoreas,
OF $l4.1s9.092 in about three yeara
And tue whole truth may not yet be re-
vealedl i7
Now, let the people understand this
The present Administration admit a,
increase of the State debt in about .hre,
years, 80. 1c2 600! tt may be, and pro
badly is. 3l4, 1s9. .092ll It may be We
morell!
Comment is unnecessary. So mucl
now for the increase of the bonded deb
OF the State. for which Scott, Parker
Chamberlain and Kimpton must answer.
We ask, now, that these figures mu,
be examined. They speak for them
selves. We shall tomorrow conside,
the question of the taxes-what amount
has been raised, and what has been don.
with the money.
.eBo Not Deceived."
We learn that in the House, on Tues
day, several members of his own party