The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-28

One Bo:d cancelled, and
exhibited to u.s.. l,00o w
Enormously printed IN
wrong cOlor, and repre-
sented to have been
returned to the Amer
lean Bank-Note Com.
ISSUED sSusd in eiecting con:
versions and receipts OF
holders exhibited to US, ,26O, 500 90
Represented 10 have been
delivered to Financial
Agent In New York.. 6,e65,000 90
.Cancelled Bonds and Stocks converted, also
exhibited to the committee, with the exception OF
one $500 Bond, which Is missing.
II Is Ieces ssary to remark on This Item that
the evidence submitted TO us OF the return OF
the s5OO,OOO conversion bonds enormously
printed, is contained 10 q postscript to the
letter of N. G. Parker, State treasurer, dated
November a., 1871, la The following words:
There are also $500, 900 bonds In the HANDS
of the same company, 1.-THE American Bank
Note Company these bonds. having been er-
roneously printed. c. L; Vanzandt Is the sec
retary OF the American Bank-Note Company
in New York
REcApITULATIoS OF BONDS AND CERTIFICATES OF
STOCK PRINTED BY THE AMERICAN BANK-NoTE
COMPANY, NEW YORK:
Whole amount as ABOVE
Bonds Sterling Loan. s. 5000, 600 90
Bonds Redemption
Bills Bank OF the
Bonds Paym Iuter.
est on Public Debt. 1000, 600 90
Bonds Relief OF the
Bonds alds'Its Iand ii'iiiliii;: Commits: 0'''' W
Bonds % Redemption
Bills Receivsble 500, 900 90
IS Stale a. Securities. -. 5000, 900 90
Certificate Stock for
Conversion Of Secu.
rites. -. ........... 1850, ,0C0 90
---s22,540 ,540, 900 90
REHABILITATION OF BONDS REPRESENTED TO HAVE
BEEN DELIVERED TO THE FINANCIAL AGENT,
Whole amount. ....... ss5l4,ooo 90
Bonds Payment Inter-
est on Public Debts 1,45o, GOO 90
Bonds Relief OF the
Treasury ............ Sss,0O0 00
Bo s'Gli NJ $ redemption ieiiii:tii '''s'
Bills Receivable. 100000 90
Bonds Conversion OF
State Securities 1855 600 0O
This Is obviously the result from the data
furnished by the treasurer. 1t Is scarcely
necessary to remark that, without full ex-
animation of the books vouchers and ac- &C
counts of the financial agent 10 New York,
nothing accurate can be obtained whereby
the whole amount of the public debt can be
definitely stated. How the bonds In the
financial agents hands have been disposed OF
does not aud cannot appear without null &C
counting on his part. II is understood that
the financial agent Is preparing report to
the financial board wherein ne VIII aoaottess eD .
show whether what now appears from tine
trea9urer's exhibit to US as 10 the amount OF
bonds delivered to him, as herein stated, be
true or false Such report, we presume, Will
show what disposition has been made of the
proceeds of the sale and hypothecation of the
bonds placed In his hands, and for which he Is
accountable. and will also show what bonds,
If any, have not been used by him.
1t will be noticed that 10 the estimate oil the
public debt hereinafter made, s203, 900 OF
the bonds which matured on the lst July, 1871,
were redeemed by the financial agent In New
York, and it Is for him to state whether said
bonds are held By him merely as vouchers lot
the payment Of the money or are held as COL
lateral security for the money advanced 10 re-
deem them. Until this report Is made by the
financial agent we can but regard the whole
amount of So, 9,5l4.000 bonds delivered to him,
and for which he Is accountable, as part OF
the public debt 1t will also be observed that
S.. .965, 900 of the conversion bonds are rep.
resented to have been delivered to The imam
cial agent, and either sold or hypothecated:.
These bonds appear to nave Oeen autnorlzeu
by the legislature, for o special purpose, to
Wit: the retiring OF the old debt and the con-
vertlng of the same into new securities. In
this view it will be for the officials of the State
to show by what authority these bonds have
been diverted from what appears to have been
the original contemplation of the Legislature.
In making our estimate Of the public debt
we have discarded the various estimates that
have been herel ofure made by the present ad-
ministratIon and present the following:
Debt OF the state at the close or the
isss' ~ s5,4o7, 1906 27
Bonds Issued In 1859 for funding bills
Soutt t Carolina. a.................... 125s,ooo 90
ss,ess, ,sos 27
Less bonds redeemed, due July l.