The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-10

the credit OF the State OF South Carolina. IL Is
true that $40 04O 600 or binds hdue been printed,
OF which amount $4,000, 900 have never been
signed or Issued, nor were they printed with the
intention to increase the state debt, but are In
posse ssion OF the State authorities 30, $35o0.-
600 sterling bonds have been printed but not is.
sued ana So 500 900 Of registered stock are now
in the hands OF the treasurer OF the State being
balance OF $504o, 600 Issued.
FThe Legislature from time to time, passed sev.
eral acts for the Issue OF oonds 10 pay tne 10;
debte dness of the State. subsequently It passed
an act for the conversion OF its securities. To
provide FOR this the above amount In bonds was
printed, which has given rise to many groundless
Misrepresentation and gross iaorlcatlons;
r. Z. SCOTT, Governor OF South Carolina.
NILES G. PARKER, Treasurer.
John B. DENNIS, Chairman OF the Commit
tee Of State Accounts.
PRINTED .ssusS and os sa0d oo0 900
stsraS do S Sterling sa
Regis. stock. .5,o4oooo Regis stock. 2.5'oooo
Total s2s, 500 900 Balance iss. .$is, 900
Adding to this the late war debt of$6, 900, 900
and the actual debt ofthe State Is seen to be
SIS, $50, 600, by their own statement as repro
duced above. Besides this is acontlngent lia-
bility for railroad endorsements amounting TO
SIG, ,000, 900 more.
MORE FACTS:
When the Taxpayers Convention was In ses-
sion, Governor Scott, Ia an official statement
to that body, set the debt of the State at So
600, 600, and 1t was about that time that the
gentlemen composing that body expressed
themselves willing to assume $4,000, 600, but
not cent more, especially when the money
was to be lavished In prodlgality, or to pay In
but allowed to remain unhonored, while the
money was used for other purposes. most
g.ys BssR By ess who contend ina.
,nlo al Il NH ia
sary TO dispose Of $l3, $4,000 to pay total
Indebtedness OF 100000 the amount
of the debt when the present admins
tration went into power, partcularly
when it did not fall due In from twenty
to twenty-five years, and II 1t was unnecessary
to sell 81, ,000, 900 of bonds, how much worse
than absurd was 1t to have over $40 900, 900
printed If 1t was not contemplated to dispose
Of them; and they further argue that as indi-
viduals and corporations do not utter notes or
print bonds from mere motives of amusement,
that there can be but little doubt, having the
capacity 80 to do, that they Intended TO dis
pose of the $l5, ,000, 900 now on hand: There is
but one explanation that can be conceived 10
the minds OF those who are acquainted with
the Wsy In which the State finances have been
tampered with. That is, that the money has
been used, and Ia to be used to tide over the
annual deficiencies between the receipts and
expenditures; which latter, owing to the wan
ton extravaganza Of the State Legislature, IN
which the taxpayers had no voice or audience,
had enormously exceeded the former.
GENERAL DENNIS
/ From Information received 1t Is found that
this gentleman halls from some point OUTSIDE
of South Carolina. he was q member OF the
last Legislature and was chairman OF tDe COM
mittee on Statehouse supplies. AS such 1t is
charged that he caused that building TO oe
lavisbly carpeted, upholstered, and painted,
the work being done by houses In New YORK
and Brooklyn. The bills as presented by him
and sanctioned by the Legislature were so
enormous as to awaken the suspicious ana ap-
prehenslon Of even Governor scott, VINO
wrote himself to the creditors for duplicate
accounts which proved, when compared with
General Dennls's bills, to be some $30, 600 less
in amount. When the Governor spoke to
Dennis about the discrepancy he tried TO laugh
1t off by sayug he had much trouble In the
business and the extra charge was fer nis
commissions. This Is specimen OF the Items
which the budget vetoed by the Governor con.
taiued. Further information confirms nearly
every statement made by this paper in its COL
umns of Sunday and Monday. For instance,
1t is found that search Of the treasurer's books
was made by the subcommittee OF the Tax.
payers Convention and the result reported 10
that body. limited statement was furnished
them which was not deemed satisfactory, and
when they sought the investigation which It
had been promised they should make without
obstruction, they were thwarted by the of1c-
ials, who took shelter under the investigation
that had been made by their pals of the Legis-
lature, and which had declared their accounts
to- be correct and satisfactory, and refused to
recognize what was pronounced the unlawful
committee sent by the Taxpayers Convention.
Now for the statement about the unpaid In.
terest. First, 1t must be explained that the
debt of the State OF South Carolina is of two
classes, one being represented by coupon
bonds, the interest on which Is made payable
In New York City; the other consisting of reg
istered bonds, and the interest on which is
payable In Columbia, 8. G: AS stated the In
terest payable In Now York has been paid at
maturity, 30 it happens that mot single cou-
non which is due Is outstanding" but on the
registered stock, which has no coupons attach
ed, the interest due October not only remaius
unpaid, but there is no money In the State
treasury to pay 1t with:
So far as Mr. Kimpton's integrity Is concern.
ed. let the following attest: Inquiries were
made of Governor Scott In relation to the
bonds of s50O,00 which as State financial
agent Mr. Kimpton was by law bound to pro.
cure Said the Governor: " nave been de-
ceived. When asked Mr.. Parker, the State
treasurer, about them he Informed me that
the name of Mr.. Henry Cews was on the
honds. and afterwards found that he was only
a witness.n Thus it will be seen that 80 far as
obligation was concerned there has not been
the slightest restraint upon that gentleman's
actions. A report came last night that the
Greenvile and Columbia Railroad, which had
been purchased by the ring at Columbia with
money said to have been raised on the credit
of the State, was the Southern railroad which
had been making fraudulent Issues OF its sLoch.