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

SoUTH OARoLINA ABRAIRs. "A special
telegram TO the Charleston Cogr:er,
dated Oolumbis, 8. O., November %,
1871, says:
On Monday. Scott. Parker. Kimpton
aud Chamberlajn united In statement
to SmaIl.'y. correspondent OF the New
York Tribune. in which they put the
bouded debt of the State at $i5. .8O5. 900
The amount rendered to the rax-paye
Convention was SO. 865. 765. Included iu
this statement were 81, 1,OOO.O 900 issued
under the Act for the relief of the Treu-
sury. and l.000.000 for the payment OF
tue interest. Chamberlain gave deci-
sion that, npder these Acts, as many
bonds could be issued as would bring in
cash W O00, 00O: Consequently, between
"a, ,U00, 900 andl e5. .000,O were at f1rst
issued and placed AZ collateral for
81. 600; ;00O!as cash. Kimpton then sug-
gested' that such an increase of the debt
would damage the credit of the State.
It was, therefore, agreed to issue conver.
sion bonds, under the ACT of March %,
1869, and exchange them for the other
bonds. This was done.
! "hon cAuie the necessity to get funds
to bny the Greenville Railroad. Another
III 900, 600 Of conversion bonds we're put
to got $24U. 600 for that purpose. Then
tho Blue Ridge Railroad wanted 300,
600 Another. 81, 100000 of conversion
bonds were put up for that amount.
Little odd jobs called for about another
81, 600, 900. So, altogether. there have
been issued about $4,000, 600 Of conver.
sion bonds. The numbers on these
bonds are duplicated. The numbers on
one set of So. 500. 900 or S4. 900. 900 being
printed in red ink, and on the balance
blue ink was used. This was done to
conceal from purchasers the great mum.
ber issued.
Somo conversion bonds were of course
issued iegitimately, that is, in the con
version Of stock into bonds. On the
other hand, some bonds were exchanged
for, stock. It is believed that all of the
later bonds were re-issued, which would
of course be clean swindle, as no record
of them need be kept. It is thought
that In few days Il full expose will oe
made of the swindle perpetrated, by an
official in high position here, on the free
school fund, in the embezzlement Of the
agricultural land scrip. Tie expose will
be made AS soon as certain information
from California, where it was sold, or
rives.
1 AZ oOoPubCp W Cuo N6W 1OEh OuN,
dated Columbia, s. g., November 10,
says:
Mr.. II. H. Kimpton, the New York
financial agent Of this State. arrived
here to day for tho purpose of submit
ting his official acts to rigid examina.
ton. He denies the charge that he has
been guilty Of mufeasauce in Office. and
says that the accusations Of certain news
papers in New York TINT the South ca.
rolina debt hus been fraudnlently in
creased by him are false He says that
tue total Indebtedness Of the State will
not exceed Sl2,000.00O He proposes to
have his accounts examined by com-
mittee of citizens and taxpayers. Gen
erals Wade Hampton. N. @. Butler, NJ.
W. Gary aud Judge Porter, of Oharles-
ton, will ba invited to assist in tho inves.
tigations Kimpton is very bitter agnins,
the Stnte officials, whom he accuses oi
-xtruvngancs aud mai-udmiuistration oi
the S'nte tiuances. He says that owing
to this he was obliged to make ruinous
terms with money-leuders to raise money,
and had to hypothecute bonds wlthoul
warrant Of luw for the purpose. This,
however. he claims s a matter for the
officials to settle with the taxpayers
He WAS merely the agent to do as he WAS
| told. All that he seeks is u vindicntiou
# his own acts, aud not those of his
employers.