The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-04-19
A TALK WITH GOV. SCOTT.
HIS views on QUE FINANCIAL AND
GENERAL CONDITION..

He Declares that State Debt has
been Grossly E1aggerated-kimpton's
Modus Operandi-The Whole Debt
Less than Eight Millfons-What hi
says about the Ta1es-The People Pay.
ing Promptly-A b o the Sterling
Loan-The Governors Virtuous Re-
.soIve-He Favors the May Convention
His Views ON POlitics, Reform and
the Ku-Klu1-Hfs Policy for the Flu
ture.
The presence OF his Excellency, Governor
Scott, in Charleston, enables us 70 present tc
our readers a semi. official resume OF his views
on several subjects, By which the public mind
has of late been agitated, and concerning
which his statements possess, at this time
a peculiar interest. The privilege Of an inter
view with him was freely granted, and the IN
terview itself wac unconstrained The language
ofhis Excenency, as given below, ls almost yer
batim. and the freedom with which It was
spoken, indicates that all OF the questions
trested have been thoughtfully. considered.
After some general remarks, the conversation
proceeded as follows:
THE STATE DEBT.
O.. Governor, you are fully aware, from the
comments of the press, and the action OF the
Board OF Trade and Chamber Of Commerce OF
Charleston, that the people OF the State are
feyerish with an excitement which has grown
out OF what they believe to be an oppressive
taxation, an enormous State debt, and q cor
rupt Legislature; please state frankly your
own opinions upon these matters.
The Governor. am free to say that, IN my
Judgment, the disturbed condition OF the pub.
lie mind results from q Misrepresentation OF
our financial affairs. Either with q view to
iniure the credit of the State or to achieve per-
sonal obiects-perhaps political In character
certain individuals, have sought to make 1t ap-
pear that the State debt has been largely In
creased by the present administration Such
is not the fact, and propose to show the why
and wherefore. First, the act Of the Legtsla-
ture of 1s6Sauthorized the funding OF the bills
of the Bank Of the State into State bonds.
That I do not regard as an increase OF the
debt, but merely as q change IN the form OF an
old debt, the courts having decided that
the State was unouestionaoly liable 1oI
these bills. So much, then, is not ch~argeahle
to this administration. Secondly, IN the reor'
ganization offhe government, 1t was ascertain
ed that a large amount of pastdue Interest and
other claims had accomplished and were :up-
paid. TO meet these obligations the tegisb-
ture authorized the issue of q milllon, OF bonds.
It will be seen, by reference to 1he law, how
these bonds were to be negotiated. Thirdly. a
debt. existed which had been created by tAe
Issoo H.. teo baS to Id ;nrovSSsd for or
war. they, TOO. nao 10 1s spl9vn ss,a ~ lSt sU vi
ralner, IeIIeu. eusan ,aGu 4mnD.S nf Sona .s~ 1saS
nunafsu t 1S'a $1,000 Se ro,,rtblv r. was a.
M4ss ICE this gutVs5,, uenrioy .ssS}on Of
ls6St'69, that even With this assistancs,
which tae bonds were selling, to meet
the liabilities which existed-deots. BY the
way, that had not been created by this admin
bonds was, therefore, authorized, for here
lief of the treasury. The sum total was then
two million five hundred thousand dolEE.
Finally, the act providing for the organization
OF the land commission called Tor seven nun
dred thousand dollars moIe Of bonds, and d
the total Issues; since 1893. amount to three
million two hundred thousand dollars. Now.
of these bonds, according to the last report OF
the financial agent, at New YORK, aoout one
million oIdollars nave oee en- P,aUsr ,r upVI b ure
mathg., reaydls aa,iars ny h;s bands Yon will
= H.aw ,Sia s,ota.n ont What there Ia no f,nn-
DAT dalton Wbstever for the rumors which have
Obtained currency; and can readily under
onr securities have ) been depressed, and the
credit of fHe Stale seriously Injured.
= al ,ndsrsten6 von thar Mr.. Kimptop.
az enooa;oI aIrnt Of the State. now mas
tnv hnSSred Thousand dollars In his
HANDS,
ThSc,,orno he mas. s,blessr he has sold
an amo1nt since his last report. In raising
az monar to- tho rses Of, The State. however, his
naoa,,S a Ot gsneraIIv has heen to byuothe-
m na,e ~ g.naS
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