The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-30
The Height of Impudence.~>

This phrase, in future, will have sharper
significance than has been given to it oy
either fash weeklies or comic ANNALS The
sheight of impudence" is the Annual Mes
sage OF Governor Scott, written, according
to common report, by the notorious Thomas
Jefferson Mackey. 1t is filled With acrid
abuse Of the respectable white people OF the
State. It is without parallel in it's brazen ef-
rontery. But it WILL we suppose, accomplish
it's dual purpose. of patching up the totter-
ing financial fabric, and Of giving the Radi-
cal journalists and Radical politicians ample
ground for defending the despotic acts OF the
soldier President Of the United States. The
gross exaggerations and bold falsehoods OF
the Message will be swallowed without salt
by the administration organs. Against the
florid declarations Of our Executive, the naked
truth will not, for the moment, prevail. And
vet we owe it to ourselves to point out the
more prominent OF the vicious untruths to
which Governor Scott gives the sanction Of
his official signature.
1t is true that THE CHARLESTON NEWS, in
1868 and 1869, did advise, and urge, repu-
diation Of the new debt contracted after the
war. We were aware that such : course
could only become OF real effect when the
State Government should. be controlled by
upright men, who would pay every dollar OF
honest debt while refusing to pay single
cent OF debt which had been fraudulently In
creased. But, whatever Its actual merits,
the proposal was certainly more capable Of
taking q practical shape In the hrst days Of
the Scott administration than in the third
year OF Radical misgoyernment The new
government is now consolidated. 1t has &C,
ouirea quasi-stability, and has been ac-
knowledged and recognized by successive
conventions ofthe whole people. 1t has at
its back the bayonets Of the Federal Army,
and the whole power civil and political, OF
the Federal Government. We have little
hope OF accomplishing in 1871 more than
could be accomplished in 1868. What we now
desire to.show is, That the breaking down
oft6e State credit, involving, according to
Governor Scott an immense increase OF the
bonded debt, is not the result Of any local or
partisan Combination. against the Govern
ment Of the State.
The efforts of THE NEWS to unite the tax
payers in opposition to the State Govern
ment, with the object OF acquiring healthy
and legitimate influence in the public coun-
sels were unsuccessful. 1t seemed, indeed,
that both the press ard people were willing
to take the new government on trust. There
we're q few staunch inen who sided with us,
but neither they nor THE NEWS had any ad-
verse influence upon the credit Of the State.
This is shown by the fact that the price OF
the State bonds steadily advanced, 30 that,
as late as June, 1870, they sold at 50. By
this lime, with one exception, euery act ur-
dei. achich bonds of the State have been
issued had become lao. The Sterling Fund
ing bill was not passed. But the Conver-
sion bill, the Land Commission bills, the
Bills Receivable bill, the Payment Of Inter-
est bill, the Relief OF the Treasury bill and
the Bank OF the State Funding bill were al
ready upon the Statute Book. It had been
shown by THE NEWS that the debt was rap
idly increasing in volume, that the current
expenditures were enormously larger than
before the war, and that the true condition
of the State finances was studously conceal
ed. We did all We could to enlighten the
public. And yet, in June, 1870, the State
bonds were among the eighties. Whatever
Governor Scott may say, neither THE NEWS
nor local combinations had, little more
than year ago, impaired in any way the
financial standing of the State.
The revelations made during the Scott
Carpenter canvass had, We presume, some
effect upon the Northern money-lenders. AL.
though there was no panic, the bonds de-
ciined in price. In April last they stood in
the neighborhood OF go. At that time the
people were thoroughly aroused 10 the nec-
essity of taking steps to avoid the ruinous
demand that the taxes OF two years be paid
in less than twelve months. This double-tax
question was the cause of the public meet
ings in Charleston, which led to the, May
Convention of Taxpayers Tbat.Gopyention,
very far from striking at the credit Of the
State, affirmed and recognized the ualidty
of tile public debt, as reported to the Conven-
ton by the Comptroller General. We fail to
find in this course any evidence of the ex-
istence of conspiracy to break down the
public credit. The Convention warned the
public against receiving the Sterling Fund
ing bonds and any other bonds thereafter
issued, but this did not hurt the bonds al
ready issued. On the contrary it added to
their value, and, when the action OF the
Convention was known, the bonds, which
had just before advanced, fully maintained
their price. A few months later fresh de-
cline set in, and at Tie the tinas ottte Chicago
fire the new bonds we're selling at so. There
was q fall IN the price OF all securities