The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1871-05-24

fS"oeo VI 'Ho h'tote' AHc pi vi tile
bonds. It Is true, rose TO eighty per
cent. and upwards, but the State
derived no benefit from the cx-
pense she had incurred to produce
the advance. Only one million
Vas sold, and those at seventy per
cent.
In reviewing the financial con.
dition of the State. it was impos-
sible to fail Of being sravely i'm,
pressed by The enormous expenses
Of the present day as compared
with the economy of the past.
Your committee earnestly ap.
pcalcd to his Excellency Governor
Scott to use all his power to en-
force retrcnchment in every de-
partment. 1t was impossible for
your committee, in the short time
allotted to their arluous task, to
examine into the various accounts
that exhibit these expenditures,
and to suggest in what particu-
lars they may be curtailed. They
procured from the Treasurer, in
a Compendium form, and attach
to this report, accounts Cd and E)
showing the receipts and disburse-
ments Of the Treasury for the
years 1860 and 1870. They COM
mend these interesting documents
to the careful examination and
earnest consideration of the tax
payers and Of the Legislature.
They believe that an imposing re.
trcnchment of expenses may be
effected, aud that it is the shortest
and best avenue Of escape from the
financial difficulties we suffer
and the surcst means Of restoring
quiet and confidence among the
people Of the State.
Less than s66O,000 will pay the
interest in gold on the funded
debt, and sl:2OO,O0O Of revenuc
should abundantly suffice to de,
fray the interest and all other ex.
penses. The committee believe
that by vigorous and persistent
economy, our expenses may he re.
duced to this sum, and the taxes
proportionally abated.
The examination OF Mr. kimp,
toms account in detail was found
impossible, as his books Of &C.
counts arc necessarily in New
York. The Importance Of such
an examination is however, re-
cognized, in the interests Of tho
State, and for the satisfaction q
the Financial Agent, by whom il
is iscourtcously and cordially invited
The same may be said Of the sew
eral cfficers of the State, to whom
! application for information was
made by your committee. Mr.
Neagle, the Comptroller, was par
ticularly pressing in his solicita
tions that all his books and &C
counts might be thoroughly anc
critically examined.
AS the result ofthc deliberations
OF the committee on the matter:
referred and now reported on
they would respectfully recon-
mend to the Convention the adop
tion Of the following resolutions
NJ. C. BUTLER, Chairman
G.. a. TRENHOLM,
G. CANNON.
W. II. WALLACE
CAD. JONES,
3. ". BALL,
W. B. SMITH,
RICHARD LATHERS,
EDWIN J. SCOTT.
Res>lrcd, AS the sense of thi,
Convention, that the funded deb
of the State, as described in the
report of the Committee of Eleven
Of this body, is a valid debt, anc
that tic honor and funds of the
State are lawfully pledged for the
| redemption thereof.
Rcs0Ired, That the general plar
for the management Of the funded
debt, suggested by the committee
be recommended to the favorable
consideration Of his Excellcncy
the Governor.
Res0lrcl, That to complete the
examination Of the accounts of the
Financial Agent in New York
the Committee of Eleven be au
thorized to sit during the recess
Of tile Convention, and to send q
subcommittee to New York, fol
the purposes indicated and that
the said committee and sub. com.
mittoe be further authorized, il
required by Gov. Scott, to assist
by their ccunscls, at home or in
New York, in the proposed nego'
tiations Tor the final adjustment
Of the funded debt.
Rc.olred, That his Excellency
Gov. Scott be, and he is hereby, earn.
estly solicited to make systematic
review Of the various classes Of ex
penditures for the public service
and to use his authority and in.
6uence in arresting the present
extravagant expenditures, and in
substituting q system of rigid
economy and accountability in
every department of the public
service that to this end his Ex.
celIency be earnestly and respect
fully urged to adopt the sum oi
! 100000 as the utmost limit oi
Ill I.