The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1871-10-11

oLhouho uuC Oh
tho Fire loan
Sterling j>onds
past due and un.
paid, 7S8,222 27,
and that stated
in tho Comptrol.
lcr.Gcncral's ro.
port, $lsl,4 ,44l,-
81, s 3s3,777 76
g Blue Ridge Rail-
road bonds 100000 90
." $l3,9l2,3ll sc
l.oss amount of
bonds paid at
maturity, accord.
ing to Governor
Scott's report, 25O,OOo 90
Total debt of the
State, $l3 3,662,3Il 81
We deduct the $3.50, 900 which is
declared to have been paid but how
arc We to know that the floating debt
has not been increased by IN equal
amount The State owed its Finan>
c!al Agent, in May last, $500 600.
1tow much does the State owe him
now? The only additions VIC make
to the figures given by Governor
Scott arc (l} the difference between
the true and tho published amount of
the debt duo on tho Fire Loan bonds,
and ~ the amount Of tho bonds of
the Blue Ridge Railroad guaranteed
by the State. We do not take into
account tho other contingent railroad
liabilities of the State, amounting
(soe Scotts report to $2,7l2,60S 9o ;
hcoause we hope that as Governcl
Scott says, Gin the event of any of
The above roads failing to meet the
interest on tho guaranteed bonds,
the State is perfectly secure" But
the $4,0oO,OOO of the Blue Ridge
bands cannot bo included in this cate.
CORY, the Safe having in their case
little or no security. Onc statement
made by Governor Scott in regard to
the Blue Ridge bonds is particularly
d'Nmgcnuou,. II, says "nono of tho
bonds have yet been put On the mar
Ett.' This is literally true. No
BlIc Ridge bonds have been "put on
the mar ket," but at least So, loo, 900
OF whole $l,00o,0U0 arc h,pothcca-
ted to secure contracts made by the
company, or tho money whiuh it has
borrowed.
The attempt to faston upon prccod
ing administration the responsibility
f1r So, l62,4lO Of tho entire direct
debt Of the State, will fail now rs it
las failed before. Gov Scott reports,
for instance, that S50O,OoO of bills
receivable, issued by the Provisional
Government, have been redeemed by
the present administration. We dc
not doubt that S5Ou,000 was paid out
IN this money but the bills which
were redeemed were issued ty Gov.
SCOTS administration, or wero re-
deemed thrice over. Gov. Orr, in
h's message presented to the Legisla-
ture when the Scott administration
took Office, says: "On the lst day Of
May, 1865, thoro was outstanding
aud i'll circulation Of these bills ro.
neivable onl y $l35,6S7," and Gov.
Scott himself says, in his message,
the amount outstanding on May |,
1868, was S230, 900, c,njuroa into
&3O0,o0O Nor will the statement
mndc of the past due interest, and
rther debts of preceding administra-
MS, paid bJ tho Scott administra-
bear tho least examination. 1t
rathcr cool, for example, to place
n the convenient bn cka of nrccc3-
y administrations the responsibility
- interest on tho State debt IN to
"'T !, 1869, when it Is an indispu-
ta fact that tho Scott admin ira.
came into power in May, 1868,
.'tccn months before But VIC are
rh disposed to push tho Scott Gnau.
RS to tho wall, nor do we desire to
80 gloomy view Of tho situation.
sufficient to know that tho Radi-
& government Of South Carolina, in
'4''e years, have, in round num-
$, doubled the public debt Of the
.a:o.
'pon the subject of taxation wo
~"r only few words to say. For
s.' years previous to. the war tho
n"@raGc annual taxation was Sa3l,
"' Daring tho past thrcc years, ac
Ing to Gov. Scott's own statement
appropriations have been as fol.
-: ., w "
>o9 Total taxation, $l,33S,742
,@6o-Total taxation, l,Oli ,0Ol
'10-Total taxation, =, l,67o,o63