The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-05-15

COLUMBIA, S. c., May 13.-In the tax
PAYERS convention last evening, the COM
mittee of eleven, through Mr.. Geo. A.
Trenholm, made lengthy report on the
State finances. The grand total of the debt
is fixed at $500, 120, and the sum total of
unsold bonds is 81, 800 900. They recon-
mend that the Governor do not sell any
more bonds at less than so per cent, and
that he 60 to New York and make the most
economical arrangement for holding this
S1,S09,000; pledged as collateral, until so
rer cent. becomes attaiDable. The COM
mittee thinks, from this exhibit of the fnan-
cial condition of the State, considerable
advance will take place, and the amount
named can be held off The market. The
committee thinks. the various bonds that
have been issued are unquestionably legal.
They think retrenchment is the shortest
Way out of the State financial difficulties.
Less than 5000, 900 in gold, they say. will
defray the interest on the funded debt, and
81, 2O0, 900 should defray the interest and all
the expenses of the Commonwealth. They
recommend set of resolutions for adoption
by the Convention as follows:
LIST. That the funded debt is valid, and
the honor of the State pledged for its re-
demption.
I'd. That the committees plan for the ar.
rangement of the public debt be submitted
to the Governor.
Sd, That a subcommittee of eleven be
sent to New York to assist in proposed
negotiations for the adjustment Of the debt.
4th. Asking the Governor to arrest eX-
trayagance and encourage economy In every
department Of the State, and to adopt
ST 200, 900 as q limit to the expenditures,
and also to diminish the taxes in the same
ratio.
9Th. Asking the Governor to destroy the
cancelled obligations OF the State,
The resolutions were unanimously
adopted.
The committee of eleven made report
Of their interview with the Governor, In
which they understand him to have COM
mitted himself to the following PROPOSE
tions: He will sign no other bonds than
those set forth IN the debt statement Of the
Comptroller General, and that there have
been no fraudulent or illegal issues that
the State and county officers should be re-
duced in number and pay; that many
officials of the law have been incompetent
and inaccessible to the people, but he will
reDlace them with competent persons
where he can do SO that many OF the dis
orders in the State have sprung from That
cause that he favors minority representa-
ton that he will try and have the election
laws amended so as to make them less open
to fraud, and that he will have the collec
ton of taxes postponed until March l, 1917,
and not enforce the penalty for non-pay-
ment before that time.
The committee recommends to the Leg
islature to ensure the full payment OF roy
atty on phosphates; to repeal acts granting
exclusive franchises to stop the drawing
Of money from the Treasury on the order
Of the Speaker Of the House and President
OF the Senate for alleged legislative ex-
penses; the specification Of all items In
appropriations limiting the sessions to
thirty days taking away the $1,000 salary
rom the Adjutant General; giving all pub
lie officers but one salary, and to abolish
che commission to certify the laws.
The report was adopted.
Resolutions of thanks TO the Convention
officers, and Coy. Scott, and the State OFF,
GERS were adopted.
MIR. Porter (Rep.) then spoke highly of
the spirit of the Convention, and foretold
.ood results If politics were avoided, as
sacy haa heen, and wholesome laws, econ