The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-11-17
Tho Einancss OF the state.
The. Nav York. World, OF November

The Ney, York World, Of November
II, says: s Isl II, ii /,
GoNR 10 PoT. The great reonnstruct-
cd Republican hierarchy OF South Ca5vv-
lima is gone to pot; the secret of Mr..
Grant s.:sl &c. !!sw is ont: all that has
been said about Governor Scott's colos-
Bal over-issues Of bonds is but tarts and
cheese-cakes to that which, ia to- come:
Our news columns this morning present
aiglad and yet ssorrowfnl collection OF
rnmors of coming events in The detec-
tion of fraud greater than Tammany's,
the downfall of an operator mightier
than Tweed. One enormously rich car
pet-bagger is BOW set. down as ruined |;
q South Carolina national bank has been
obliged to suspend; failures in Wall
street among oarpet-bag bond fanciers
are imminent, if not already accom-
plished facts. To end as We have begun
the first lesson, the great reconstructed
Republican hierarchy of South Carolina
is gone TO pot. Governor Scot: vss cne
OF Pauper- General Howards bureau
men. that "Christian soldier" is ''in"
with Mr.. Grant, and hence the martial
law business in South Carolina. The
financial explosion was apprehended,
and the bayonet was to have stamped ex-
posure out. Happily we'have been able
to speak. and from our intimation of a
poor SIG, 100000 over.iasue. upon the
Sd OF this month, the real figures have
day by day since been coming out. until
now at least $28. 500. 900 are known to
have been printed; and, under fear OF
still further developments the towering
fabric of carpet. bag finance totters to its
fall. Let no man who has read of Tam-
fail f0 nj
Carolina; let none who have followed
Tweed fail to see how Tweed dwindles
to pigmy before Scott. Since ''rings''
are in order, let the story of o greater
than the new State House spittoon and
window-shade ring find careful atten-
ton. Our news columns will be found
to tell the tRlo. In this part Of our is
sue let us touch on q few deductions
from the facts. d.
The World next reviews it's financial
exposures in their order, and calls atten-
ton to Governor Scott's flight from New
York to escape Wall streets demand for
explanations as to his fnanciering:
Alluding to Governor Scott's denial OF
the Worlds statements. the World says:
eve would be happy to know what
denial this Is which he repeats, having nc
knowledge of any denial to be repeated.
The charge was of an over-issue. In hii
letter to; Senator Scott he said the debt
in September was 100000. In hit
card, published in THE paper, he admit
ted that $i3. $50. 900 had been issued. Is
not this an over-issue2 It may be said
not an over-issue Of 800. 900, 600. Ger
tainly not, but there are 81, ,OOO, 900 over
issue. and the rest is not hard to find
In the same card, admitting an issue o
$l3. $50. 900, he admits preparation oi
1913. $50. 900, or that $15, 600, 900 in bonds
and stocks we're still on hand. Why on
hand, if not with intent to issue? Nc
man prints even mere haud-bill, anG
much less an expensive engraved bond,
to throw away. There have been printed
1928, $50. 900 against debt of bu,
SO, 100000. Here is an excess oi
$19. .080, 000-quite near enough tc
800, 900. 900 to establish the charge. O
these S28, $4,000 there are So, 500, ,OO(
in sterling bonds. There were $6,O0U,
900 Of these authorized, despite ever
cadet broker Whittemore's protest. Se
that. if not checked, Governor Scot
might have gone on to swell his printed
$28. $50. 900 into $31. 100000. Truly il
this greater than Tammany fraud deer
speaks unto deep. and the end is mo-
yet"