The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1871-05-24
Tax Payers Go. zen tic IL.
FOURTH DAY.
FRIDAY, May l2.


The Chair announced the following
gentlemen as the committee to mem
orialize the legislature on the subject
Of cumulative voting J.mcs A. Hnyt,
D. II. Chamberlain, NJ. W. Gary.
Edwin J. Scott, w. II. Wallace, b.
II. Wilson and Henry Gourdin.
Mr.. Chestnut. for the Executive
Committce, reported upon certain
resolutions relative to the sterling
funded debt recommending ''c iop-
ton Of the following, in substance :
That this Convention, rcrr ,sentiug
tho property holders aud t4x.plye ers
of the State Of South Carolina, deem
it their duty to declare that the so.
called sterling loan. or any other
bouds or obligations, hcreaftcr Issued.
pu,p,rting 10 be by authority Of this
State, will not be held biuding Oh us
and that we will resist the payment
thereof, or the enforcement Of any tax
to pay the same, 10 every lawful way.
Also, that committee Of li,c hc az
pointed to investigate and report
pl"m % te>trrc ,hc credit Of til; State
aud to c"nf = wi h tn. t, pr scntativcs
Of the "6re loan securities" of The
State, which ave Deeh practic lily re
pud,atcd, with view to repair ,hc
lam,gcS 20 the i,ood faith and honor
Of the cnmmou wealth. Also, report
ed npon the resolution to appoint a
coSsAn,ttcs "f i've u examine INTO the
,ndG ion Of the State, now and Ut the
close TT the war, I, ,commendins that
Mcs>rs Aldr'cn, Burt, Man"ing, Bu'-
Ter and Porter be appointed as such
committee. 81 o.dercd:
Mr.. TrcScolt offered resolution, :,
that Me>srs. Potter and Conner, I,
whom had been referred the qucsl,o.
of the legality Of the pustpou"mrit @!
statutory lien Of the State on the b ur
Ridge Road, by the Legislature, to
certain b"nd> aud mortgages, t.,
Mcssrs. Cicws, Cameron and GUu:-
din, trustees, bs requested to give
their legal opinion at the earliest
prnctic .ble III mcnt, supporting hi
rtsoluton by st.ong line of GU
meut showing the unwi>dom Of the
Convention in tampe,ing with thu
business of private corpo. a,ion.
H. held that the action Of ,hc Cou.
We .tion, unless the matter be decided
O once, was calculated to disc edit
tn: bands Of the Blue Ridge Road; to
t'e ser.'us injnrI Of the compuny aid
damage to tue State, in cr,pphng all
enterprise, the successful issue Of
,yL, all m,nlO 1,,or,.;n, q, , l,:r n
extcnt, the future prosperity of the
State. He then maintained that, in
point of fact, the pustponemcnt Uf the
statutory lien uf the 5 ate, to a mort
gage given to secure bonds endorsed
by 'hc State, could lot possibly VOL, k
harm to the State, and was All equally
good, it no. better, form of security
tan he statutory lien would be. lie
also stated that the mortgage of the
road to secure the funds was recorded ID
prior 20 the attachment of the statute
ry liea of the State, and that, cohse.
quently, in punt of law, the mortgag.
must teke precedence.
Mr.. +. Il. Marley replied in an af
footing ADD eluqnent speech, depicting
in touching terms the desulated con-
di ion of the country. and the derlor
abl, corrup, state of tho Legislature:
by reason of which, as he held, the
passage Of the Blue Ridge Road
bill had been effected.
The amendment was laid on the
table.
Mr. Edwin j. Scott offered the fol
lowing, which was considered at ono
and adopted
Whereas, it is customary and pro
per that persons entrusted with larg.
amounts Of the public funds shouf,
guarantee the safe keeping and faith
tul disbursement Of The same aud
whereas, II. II. K,mpton, + a., th'
State Financial Agent in Now Yo,I
who holds about 100000 worth O
State bonds, has given nothing bu
his own personal obligation for til
1t discharge OF his duties therefore, b
Resolved, That the attention Of tn
Governor and tho A,torney.Gcpcrs
be specially directed to the risk &
loss by the death or default of sal
agent, and that they be requested
require Of him boud with such gno,
aud suflicicnt security as will protet
the public interests in his charge.
Gen. Cad Jones offered the fol
lowing, which was read and refer
ed:
Whereas by the Act Of August q
1868, entitled An Act to authorlz
a State loan topay tho interest on Il
public debt. "the Governor was a,
thorized to borrow on the credit Of I'll
State, on coupon bonds, sum n
exceeding $l,0O0,000, or 30 m u,
thereof as may be necessary to pI
the interest on the public debt a,
whereas it appea's that instead