The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-05-10


and that whatever obligeti ionS fipaiida a6iers]
takb, tHey must take them at tfiSff oHli;]
pafl. HLekme admonishf ffyou f6.bs Siu.]]
dent aid. Wise; to avoid party ;:pplitih
F4S every tair.minded !. nan who; ID vile
ing to putHis seal OF di6app val Oh cor.
strt!on. or ia willing to 20 with ;s.uis i1
correcting abuses, We fhaye A,WeicominH
hand. Those men are Our {fie1de, aud
| should be welcomed 70 olF ranks The
late war left this people almEst impoyeff.
ished. Upon the issue of the war, one
OF the most valuable species OF properly
f-more than one-hnlf OF what was left tA
the people-was stricken out ut blow.
Never were there people on the fuce of
the earth who wore more entitled to
sympathy than the people Of South
Carolina. In the namo Of that people,
much abused, almost ruined, coll upon
you to bring to YOUR nid your noblest
efforts at this; time.
dressed tho Convention. Referring to
the Sterling Fund bill. with which Lis
name had been connected, he said, re-
ferring to Ills visit to Columbia during
the session OF the Legislature, T came 10
Columbia with great desire to do somt
thing for the bonds Of the State. This
bill was then before the House. ex.
amined tho bill, and saw that although it
might cost the State more that it should
to negotiate the loan, that it was good
thing. was. so rejoiced to SEQ the
bright prospects Of tie passage OF this
bill, that called upon the Governor,
and made certain propositions to him. T
proposed that committee consisting OF
the Governor OF the State, Barring Bro
theirs. OF London, Brown Brothors, Of
New York, and Mr.. G. A, Trenholm, Of
Charleston. should be appointed to ne
| gotiate the loan. The Governor accept.
be great favor If would remain over
ed my proposition, and said it would
day or two and address two committees.
proposed, then,l that the committee
suggested by me should hold over for
| twenty years, the limit OF the BILL The
great objection to the bill in it's preaont
form was, that no one knew the extent
of the public debt OF the State, and
knew still less about the men who were
to make the negotiations for this fund.
In support of his views, he road the pro-
test Of the members of the House and
Senators against tho passage Of the bill.
and added: "What possible evidence
this ioan?" The fire loan stock of 1888
between the pledge then made by the
State Government and that to be made
under the BILL The former had been
! vinlatf.d. and the moneys pledged had
been appropriated forother purposes hnJ
7 the present Legislature.! . He was amazed
.'thas those scoundrels on the other
side, who we're denoun ,ing this meeting,
should do so merely in order to get more
money for their own uses" He referred
to the system of shining" F" and entered
into a lucid explanation OF it. !. The
State Government had been pursuing o
system of that kind for the past three
years. Accounts of corruption. sto. !,
had gone North and tended to put down
the price of bonds. Lands had beon
purchased in large quantities Mt enor-
nous prices, to give away to. the favor
ties of the Government and the State
had been q loser to the amount OF
100000. He referred to certain tables
which had appeared this morning in a
.'ourtaiu Ra,sioa! sheet," and excused
the partial incorrectness of his own
tables. by asserting that it was nn-
derstood at the time he made them, that
it was difficult to get at the facts per-
fectly. The other side had given them
a mass of figures at the last moment,
|
The assets had all been marked up, and
the liabilities all marked down. Tho
assets of the State had gone down from
$490. 100000 to $3.50. O0O. 900, and the
liabilities we're increased $4,000, 600.
The taxes were increased many hundred
fold. !, He closed. by advising TINT the
committee hold over as, permanent
body. If not in continuous session, aud
gave notice that he would introduce a
resolution to that effect. Snoh o body
in Attendance at tho sent of Government,
would have q salutary effect in checking
all manner of abuses.
Col. J. p. Thomas and Hon. A.. p. AL.
drich were invited to participate in the
deliberations of tho Convention. hon.
D. A. January, Of Missouri, and Hon.
Mr.. Miller, OF Georgia, were Invited to
seats upon the floor.
l/Gen, Butler offered resolution, which
was agreed to, that committee Of eleven
be appointed by the chair to confer with
his Exoellency Gov. Scott, in pursuance
of the fourth resolution of the Chamber
OF Commerce and Board OF Trade Of the
oity Of Charleston, and report to this
Convention in writing or otherwise. -
Col. Ellison 8. Keitt offered series 81
resolutions, relative to the selection OF