The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1871-11-16
The Reported Over Issue OF South Carolina
"'i" Bonds.

The annexed article appeared in the New
York World. Of the 9Th inst, and as its allega.
tionss have been the subject Of discussion ale
most every day since, We transfer it without
Imntilation to our columns that our readers may
Be- informed ifk med as to the exact charges made
against our State officials: -.... =. -
[ For several days past the most startling nj
Pmors have been ahoat in financial circles, and
rejecting seriously upon the credit of the State
of South Carolina. First, it was said that an
immense over-issue had been made by Mr.
Kimpton, the State financial agent. This was
quickly followed by an announcement that ev-
| cry member of the State Government, from the
Governor down, had arrived in the city. These
on the market that the bonds of the State fiuc-
tuated as Violently as ever did gold during the
uncertain days Of the war, the tendency, how
| ever. being to weaken the value of the bonds.
Even after most strict and thorough invest-
cation, it seems almost impossible to give re-
ally connected statement of the actual condi-
ton of affairs but certainly the widest reports
vet promulgated do not exceed what is appar-
emily tue, to Judge from all that can be learned
| from most trustworthy sources. -
As facts about which there is no question IL
NAV fist be stated that the American Bank
Note Company Of this city, have printed bonds
of the State of South Carolina to the amount
of S20046, 900, which have been passed into the
possession of Mr.. Kimpton that for some pur-
pose the several members of the State Govern
,ment are in the city, and that other gentlemen
of wealth, to whom the credit OF the State ls a
inps, It is said that Governor Scott on being
Questioned IN relation to the printing OF this
aYsat amount of bonds admitted that they had
| 6een printed, but denied that all had been is-
saed. although he was unable or unwilling to
say what the amount of the issue really was.
Those who charge the over-issue here step IN
eth the question, @What was the object of
printing these bonds if it was not the intention
To use them, and if there is no informality why
let the credit of the State be hazarded by with
holding the facts?" There was only one way
| in which Che bonds could have been legally is
sued. and that was under cover OF an act auth
orizing loans for the purpose of takiug up 9th
er bonds of the State but it is said that no part
of the money yet raised has been used for any
such purpose, and that the debt which the tax
payers' convention of May last discovered to
be about $l2 20OO, 900, was so fearfully increased
that the State was absolutely insovent, or rath-
er would be, if it should assume the response
biiity of paying the debt which has been heap
ed upon It. However, it is highly improbable
that the taxpayers ever will consent to saddle
themselves with such responsibility, as they
have already expressed determination not to
assurne an indebtedness of over 5000, ,OOO.-
Taken in connection with the present retleence
of the South Carolina Government officials,
the following incident casts suspicion upon
their integrity During the session mentioned
ahove of the taxpayers Convention q request
was made to Mr.. Parker, State Treasurer, tor
permiusion to examine the accounts OF his de-
nartment. to which he consented, with much
shoyy of earnestness, but when the committee,
to whom had been delegated the duty of inves-
tipatiou, called upon him after the adjournment
Of the Convention, he positively refused TO let
them zee single book. ..
It Is admitted that up to the present time 1t
has been impossible to point conclusively to
any delinQuencies, as about the same strategy
is resorted to as that adopted BY the robbers OF
this city TO conceal malfeasance in office. Inns
Parker. who is Northern man or carpet-bsg7
ger, went to the State of South Carolina ABOUT
three years ago q poor man, and during that
time on salary of So, 500 per annum, has nc
cumulated about 81, ,0OO, 900; and so with all
the other members of the State Government
from poor men they have risen to great wealth
Mr.. Kimpton, the financial agent it is asser-
sei} brings claims against the State for commis-
sions and services to the amount of some 81
10O 66Ots ana 20 closely in league with him are
tbe other officers that they have not dared TO
fesisti uayrnent Of his claim, although much Of
Il has been proved to be for renewals of credit
which have been made time and sgain, and for
each of which transactionshe has charged conn
missions of various kinds amounting in the aggi
gregate to about fifteen per cent, just the same
% though they hsd been new loans OF transac7
tions. So in time he has in repeated commls,
| sions swallowed up more money than the origl-
| nal loans amounted to. :, !,
One feature alone seems favorable to the
State credit. It is asserted most positively,
while admitting that Kimpton has made this
h;ghtful oyer.issue of bonds, that his operations
have been carried on, not in the capacity OF
financial agent Of the State but on his own
personal account, thus involving only his own
personal credit If this be true, then the en-
tire oyer.issue could be repudiated without dis
credit to the State. Again it is charged that
am the money the State has ever received from
Kimptorl for loans made by authority has been
oho,,t ~ per cent. Of the gross amount, the
remainder having been retained by him as
| Commissions. and that Of what it did receive
the State has had the benefit of very little, as
| roost of it had been spent for all manner of
useless and even proaigate purposes 49,,
It is further said that the members OF the
Government have used all manner of devices
to prevent facts from becoming known in this
city that might raise suspicious as to the imam
cial integrity of the State, and thus m, make t the
bonds unmarketable. For instance, the inter.
| eat on part of the debt is payable in New
York and part in Columbia, s. G. That fall
ing due recently in New York has been prompt,
" Maid. while not one cent has been received
IN Columbia for the amount due there.
Again it is found that the expenses OF the
last session of the Legislature remains yet un-
paid. 1t amounts to the very respectable sum
of SsOO,OOO. This was discovered by some gen;
tlemen who began to wonder why no call had
vet been issued for meeting of the Legislature
on the 9th day of the present month, as has
[aly concluded that apprehension of the dis
| 49,, vb;ch would he sure to ensue when the