The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-11-24
Fire Loan Bonds.

Fire Loan Bonds.
MR. EDITOR: Within the last few
weeks there 5has been much discussion
relative ITO the dsost concerns Of the
Stats Of South Carolina. and whether
tho bonds ordered 70 be{sissued by her
! Legislature were safe In the hands of the
chosen moneyed fanciers OF the North
To effect this purpose. Messrs. SCOTT,
Neagle and Parker have been spending
some time in New York. in communlca-
tinn with their great mopeyed man Kimp-
ton. They have much to say upon the
supposed good or bad management OF
their agent, aud many propositions to
save loss on the cid or new issue, or
the sterling bonds. Strenuous efforts
have been made to bolster up their Gre
dit, and throw veil over their manipu-
lations. Those bonds seem to have 90.
cupied much of their attention-I might
say exclusively-whilst others equally as
important, in which the honor, credit
and justice Of the State are deeply i'm
piioasod, pass unnoticed. Not one word
ia breathed about the fire loan bonds,
and largo foreign and home interest
seems entlrely ignored; and yet, as they
now stand, the very credit and solvency
of tho State is jeopardized. and the ao.
complishment Of the very business which
they are anxious to arrange IS frustrated.
in Columbia. He seems to have some
anxiety about the present movements,
sud has returned their visit. Can lis or
Gov. SCOTT say where they can find any
one willing to lend money to State,
where injustice equal to repudiation is
experienced by the European holders o.!
those bonds, and those at home are daily
and hourly stripped of their property
by the neglect of their liquidation? :?
Will they show how any State can thrive
where it's officials are hourly seeking to
defraud it's creditors? Look at the oon-
duct of the Legislature, its members,
and the courts. and say if common JUS
tice or honesty guided either.
After three years contest and law
suit, Mr.. Parker, the Treasurer, in 1870,
published card, stating that he was
prepared to pay off the contested bonds
he reused hornets nest. The Legsla-
ture Immediately forbid the proceeding
the next day. Mr.. Whipper offered
another threatening penal proceedings
against any one who should offer to pay
th6m, before tho courts made their aaoard.
This WAS published among their proceed
ings, and appeared, I think, in the paper
of Thursday. The court was then in
session, and the bond case was expected
to be heard and settled on the next day
friday; but grievous was the mistake.
In fridays paper information is given
that the court had adjourned on Thurs
day, until the next term in March.
This was stopper to all proceedings,
and the Legislature could go on with
out the court throwing any obstacles in
the way. We would, with all due re-
speot, ask if this added to the honor of
the State or the independence of the
Judiciary What conclusion was to be
the community to say.
The court having adjourned until the
succeeding March, it was necessary to
wait with patience until it's arrival; but
there was q feeling that bad crept over
the State that it's credit and honor would
no longer suffer. and they waited quietly.
March came, and with it the three
Judges; counsel WAS heard aud the
solemn opinion OF the three Judges wis
said to have been given, that the deci-
sion was to be written out by one OF
them, and that for special reasons the
duly was assigned to Chief Justice
Noses, and would be- promulgated III
July. At that time. In solemn conclave
they met, aud several decisions we're an-
nonnced, but not one word about the fire
loan bonds. They met again and again,
but still their action on that point was as
q sealed book. August came, Septem-
ber WAS upon us. October aud Novem
Der have arrived, but not one word is
heard about the matter The year has
now passed, uud the time for the return
of the session ia near at hand, but still
no approach to q settlement; and com
mon justice requires that some inquiry
should be msde Hs to what has become
of that case. Settled, We understand, it
has been, some way or another; but how
Can any one inform us. 1t seems to
have fallen upon busy times-has got
into chancery. The Chancellor. being
&c cb1cio the keeper of kingy conscience,
has become oblivious of HIS other trusts,
and a sort Of Jarndyce us Jarndyce has
resulted to the serious injury of the
credit of the State. and deep injustice to
the individual bond holders. The re-
quirements of the law have been ne
elected; the decision being rendered in
sixty days has been unheeded. The
opinion has not been given-nor have
the bonds been redeemed, regenerated
or disenthralled. AN INQUIRER.
TIE JUST CRY OF REPUTATION. The
financial condition of South Carolina
8 causing great CONSERVATION through