The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-05-15
1Goaczuded trom First Poge.l

[Concluded front First Pogs.]
submitted the following report on the finances
nf the state, and which was, with the resoln-
tions, adopted:
The committee of eleven, to whom was es re,
fprred the resolutions regarding tne nnauHes a.,a
Of the State. report as follows This resolution
having been published in the newspapefs SUE Uer
fore the assembling Of the convention. your
Committee were promptly apprised oy nls Es- Ex-
cellency the Governor, and by the OLher M Saa.e y.
tunctonaries referred 10, 0l thet The conn.
troller.yeneral furnished to the c0nven3o1
tbemseIves printed statement OF the 1unded
Seht NJ the State of South Carolina, and lnlor-
nation relative thereto" In this statement
the total funded debt OF the State" IS set
down as the sum of 81, ,665, 90S SO. To the sum
of the funded debt, viz: 81, ,665, ,sOs 9S, must be
added. in orderto exhibit the sum total OF the
debt Of the State, the cash ADVANCED to the ns
treasury by the financial agent. Ihls Is see
down by Mr. Kimpton at the round sum sun oOo Od
$500, 900, and also The further sum OF S4oo;ooo
for bonds sold by Mr.. Kimptoh since the cate
of the comptroller's report, VIZ: mahine
grand total of debt Of s8,665, sos 81.
The sum total of bonds remaining unsolu ia
the hands of the agent, as already SHOWN oy
the comptroller's statement, was S2,soV,uVo.
From this amount must be now deducted tne
amount sold as above stated, S4OoGoo, leavl,s
81. SOC, 900, is pledged for the security OF the
$500. 900 OF cash advanced by the agent.
In view OF this condition OF tne nnances ol
the State, your committee would respectfully
make the following recommendation VIZ: /.
That his Excellency the Governor pe respeet,
agent, who is now in Columbia, and to tele-
graph to New York not to sell any more bonds
Of the State at less than 80 per cent.
g. That his Excellency be respectfully re-
uuested to proceed to New York, and to make
the most economical arrangement poSs,nle n, Se lUe
above limit of so per cent. becomes attainaole
3. AZ 80 per cent. $1,000, 0J0 OF bonds Will
discharge the debt of sS0O,000 due to the fnan-
ella, agent, and release $500, 900 OF the hypotne-
Gated bonds. This sum OF bonds your commlt-
tee recommend that 1t may be. Respectfully
Suggested to the Gvernor to use in the follow
The amount of funded debt now payable,
and that approaching maturity combined is as
follows:
Fire loan bonds. Barring loan st1o oO GOO
Fire loan stock. So4,oco
Amount over due. S'44'ooo
Statehouse bonds 10 mature on the lSth ...o nm
OF JIiy, 187l....
r,.o, sooi 900
Your committee recommend that the$l $780,
600 of surplus bonds above referred to, as soon
as thew may be relieved from hypothecation.
be applied to the satisfaction in part OF the
above debt Of s99l,000. The s744,0OO OF Ger
dne bonds constitute so much OF the fire ioan
debt for which the capital Of the Bank OF the
state is pledged. and your committee indulge
in the hope that it may be discharged from
that source.
II the arrangements suggested by the COM
mittee can be carried into effect, the result
will be as follows:
Sum total OF debt already stated rs Ss65, ,ecS 9s
Add the bonds now in the hands OF
the AGENT. and proposed TO De Is ~, ~, ~
BueQ,. .......... 1,Es"iVV0 Wv
s1o,665.sOs 90
sHent al and proposed to be paid. 1000 90
s,s65, ,sos es
Dedact the amount OF fun6 ed debt
proposed to be paid by SS00,000 OF
ne. cent. for the bonds, viz e4O,Ooo 90
se,225.e .e0s 9s
Should the remainder OF the $685.
600 OF funded debt, now press
inp for payment, be discharged
yus sSs state rs tV VIZ $4,000 90
'IV viii I he s,s71, ,sos ss