Tri-weekly phoenix. [volume] ([Columbia, S.C.]) 1865-1875, 1871-12-09


SoUTu CARoLINA-TuE FINANCIAL
AdESr KNOWN AS a GUTTER SHARP. F"
The correspondent Of the New York Til
0nnc, ut Charleston, throws, in recent
letter, somo new and interesting light on
the condition Of tho Stute finances. to
which he has for some time given n good
deal OF attention, and his story is one
which, if We had not been prepared for
1t by the doings of the ring in this city,
would sound very extraordinary. We
have given some account already of the
nntccedcnts Of Niles G.. Parker, the State
Treasurer. lie and Gov. Scott, and one
Almpton, who has filed the offi.e of
''Stato Agent" il New York, and whose
sole business appears to have been the
raising OF funds for tho Charleston ring,
have had the funds and credit of the
State wholly in their hunds for the last
three years, and Kimptop, the cores
pondent alleges, before he was put into
this position, was 'street broker" or
what is called in tho slang of the Ex-
change Il 'gutter shark"-that is. II
broker who has 10 Office, aud transucts
his business on the sidewalk, and on top
of adjacent carts and barrels The Gus
tom OF the ring seems to have been to
send on State bonds to this worthy to
raise money for them on them, and he,
instead of selling them, pledged them
Tor loans, aud so went on pledging and
borrowing like clock. work. the securities
nil the while falling in value, and being
occasionally sold by alarmed lenders.
Into his doirgs no iuIniry seems ever to
have been made, all the Charleston fra
'crni!y cared for being the honoring of
their drafts. Now, however, their credit
is wholly exhausted; no more money can
bc raised on bonds; tho treasury is
empty; tile salaries of the State officers
have been long unpaid; and there is no
provision for the January interest. Un-
der these circumstances, the Governor
and Treasurer, and Comptroller, have at
last to face an angry and swindlcd COM
munity, and try to answer some Gues-
tions rs to their doings with tho money
entrusted to their keeping, and we once
moro commend their story to tho con-
slderation of those persons who think
order and prosperity can be restored to
South Carolina, or any other State, by a
liberal nsc Of horse, foot and drngoons.
In Judging the ring, too, it must be re-
mcmbercd that behind them stood a
grossly Ignorant and corrupt Legislature,
knowing nothing Of finance and taxa
ton. OF tho nature or value of public
credit, "nd intent on!? on N!!ing their
own pockets. This body actually gave
tho ring unlimited power to issue bonds,
restricting them only as to the sum of
money to bo raiscd-n contrivance for
facilitating stealing which has had no
parallel in legislation except Twecls
"Board OF Audit" y committee of this
Legislature came on to this city lust sum
mer. ostensibly to look after Kimpton,
but nothing is known or has been heard
of them or their doings since, except
that they lived sumptuously for three
months Mt fashionable hotel, and went
back to Charleston in fine condition. 4
knowledge Of these facts seems to be
necessary to proper comprehension OF
the ring "accounts. "-NeW York Nation.
mob in Metcaiio County, XIV. ro.
Gently lynched man for simply killing
his own mothcrin law. If it has come
to such pass that trivial, and even
sometimes unavoidable, circumstance
like that must expose citizen to tho
vengeance OF tho Ku Klux, tho soone,
martial Inv is declared in that State tho
better for oil well-disposed husbands.
Ebcnczer Shaw was assisted in th,
celebration Of his Tooth birthday, recent
/ iy, by 400 of descendants