The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-24
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COLUMBIA, November %.
Treasurer Parker has completed state
ment of the entire debt of the State, which
he reports as being sl2,01S,sOs 80. All the
items In the account are given, together with
long explanatory statement.
The State authorities now hope to be able
to retire the loans in New York, and to save
the bonds now under hypolhecalion from
being sold by the holders.
It is ir :ended to discontinue the financial
agency at New York, but some responsible
banking institution TIL be designated as the
place where the payment of the interest on
the public debt will be made.
LArER.-The principal points Of Parker's
statement are as follows:
Bonds printed for the redemption of bills
receivable, s60o,0OO; for interest, 2,000,0 900;
for the the relief of the treasury, 81, COO, 900;
for commissions, s7OO,OeO; for the redemption
of the bills of the Bank of the Slate, $780,
900; for the conversion of State securities,
$S,200,00O; for the sterling loan, s6,OOO,O0
certificates of conversion of stock, 81, $50, 900.
Total s22, $4,000.
Bonds on hand In the State Treasury not
| signed: Conversion bonds, S4,545, 900; relief
ofthe treasury, slOl, 900; interest $50, 900; re-
demption of The bills of the Bank of the State,
1881, 900; stock certificates s2,ll7,3OO. Total
$3,053,S
On deposit with the American Bank-Note
Company, sterling loan bonds, sS,00O,00O.
Burned in the Statehouse, interest bonds,
$5OO,OO
Destroyed in New York conversion bonds,
s5OO,OOO.
Total on hand, on deposit and destroyed
$10,053, 800.
Used in ordinary transactions at the treasu-
ry, not affecting the debt, s2,s53,oOO.
Total to be deducted from the amount of
bonds printed l3,0O7, 900, leaving ss,533,000
in bonds actually Issued and in circulation.
The debt statement is as follows: Old debt
Sc, ,6s5, ,sOs SO, less s2l2 200, paid last July leav
ing S6,453, ,9Os 9s. New bonds, as above,
1888, 900, less $500 900, in the hands of Kimp-
ton, to the credit of the sinking fund, and
s3,7TS0OO in use as collateral. This leaves
$3.50, 900, which being added to the old debt,
makes the tota, present debt sl2, ,Ol3,s0S SO.
The explanation accompanying the state.
ment says that the facts aud data are open to
the inspection Of the public. The bonds
issued and used were under the act for
the redemption of the bills receiv-
able, the act to raise interest, the
act for the relief Of the treasury, the act
for the appointment of land commissioner,
the act to amend au act to appoint lsud
commissioner, the act for the conversion Of
State securities, and the act to authorize the
financial agent to pledge the bonds as collat-
9el. The three first named acts auth orized
the borrowing of $2,500, 900. Owing to the
great depreciation of the bonds 1t was found
necessary to issue much larger number of
bonds. The act for the conversion of State
securities giving authority for a more
available and uniform class Of bonds
than those which had In the irstinstance been
issued under the several other acts referred
to. the remainder of the bonds required to
raise the amounts authorized by the several
acts were prepared in accordance with the
act for the>conversion Of State securities, to
the amount above named. =
A self-appointed citizens committee, con-
sisting OF Messrs. Orr, Baxter, Brennizer and
Pope are now investigating the facts, AID will
conclude and report tomorrow.
It is considered the height of impudence to
DEDUCT the hypothecated bonds, which are not
likely ever to be redeemed, from the state
ment of the present debt. The war within
the ring is becoming fierce. A bill will be in
troduced early in the session, which will place
the incomig funds Of the State entirely out of
the control of Parker, and change the place
of deposit. 1t is reported that Kimpton will
endeavor to get an indemnity act passed to
pay bis fees and disbursements. PICKET.
rrnuT FPom THE TRTRTNE.