The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1871-04-26
WTMTMERG0RO.
Wednesday Morning, April 27, 1871,

bankruptcy ana tho Con-
sOlidatiOn and Scaling OGtSRe
state Debt not Reputation
but simple Justice and Hon
esty.
We trust that the May Convention
will urge Cumulative Voting as a
means of securing Minority Repre-
sontation upon tho fears of our pros
cnt vilo and rotten State government,
AS A SECURITY that tho property.
holders and tao payers Of the State de-
mdna for the future. But they also
need A REMEDY FOR THE PRES
ENT. And as such, this paper, leav.
ing national politics to tho States of
tho North, is perfectly willing to 60
before the people of the State, both
white and colorcd, in 1872, upon
these two distinct propositions, or
rather upon this single proposition
Of two branches "Scalc the public
dcbt down TO three millions, and ap-
propriate the million dollars of ap-
nual interest thus saved, and now an.
uually paid to spcoulators upon our
misfortunes, to tho establishment of a
system Of State Education that shall
be worthy Of the namo and adequate
IN Our pocooo;f;o,
MI ionvdics which really meet the
necessities of desperate case, are
apt to startle, when FIRST announced ;
and before the pcoplo have examined
into tho rcasonablenc;s and justnoss of
tho above proposition, they may be-
surprised, and may regard it as too
sweeping in its policy. We are
rc.Ic.iD ",.ilLg 20 debate it.
lst. Wo dare the State govern.
ment to make clear and clean ex-
poso to tho May Convention, giving
names and particulars, Of who nvw own
and how long they have owned the six
tcon or twenty million of State bonds
upon which pcopio impoverished by
unsuccessful war are now paying over
million dollars interest annually IN
gold, wrung from their poverty by
taxation. THE PEOPLE BELIEvs the
bonds arc, to tho extent of nine.
tenths ut least, owned bY THOSE VINO
HAVE srEcULATED ON THEIR HIsroR-
TUNES both within and outside of the
State. They have been bought for
about twenty cents on the dollar, and
some Of them for less, and twenty
cents Oh the dollar, and on some OF
them, lees, is about all that the people
of South Carolina honestly and justly
owe on them to their present holders.
2. Again, it is absolutely certain
that that portion of tho State bonds
now in tho hands Of Radicals in this
State, or sOhich haze passed through
Radical hands, even though not now
owned by them, has been bought by
money taken, in tho shape of erraua
CANT salaries, aud otherwise, OUT OF
TIE STATE TkEAsuRy, and thus the
State has really pAtr THEM ALREADY
and ought not, in Justice, to be called
upon to pay them again.
3. Tho most honorable of men
have found it necessary, after Mi,
war, to confess bankruptcy, and pay
only what they could to their crodi-
tors. Why should not the State OF
South Carolina do tho same, aud send
disappointed and unreasonable credi.
tors to the Federal authorities for a
remedy For it is Congress that has
bennpptod by war, and by legislation
after tho war, our unfortunate State.
4. Tho most just Of governments,
that of England, found it absolutely
necessary, after o long war, tn order to
be honest, to consolidate and scale its
public debt. Every other go7ern-
mentin the world, after oonyulsion
and revolutions, has done tho same.
Shall we learn no wisdom from these
precodents, and shall / we mob discover
the true principles Of Justice to the
present generation and to postority
from their. example,
Lastly. Our State needs an efficient
system Of edpoatiop, apd it cannot hear
the taxaforithisap purpose, and pay over
, million dollars Of interest annually;
49, '--s'sy~-
4. A H. :, {, 49, ..S hs A.f.a .sfs