The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-04-28
s. G,
Sunday Morning, April %, 1879.
The sale OF city Bonds.

Lnere WILL De sole OF bonds OF the CITY
of Columbia, to the amount of $3.50, 900,
on the 18th proximo. Assuming that
the proceeds will be properly and judi.
ciously appropriated to the objects
named-the building Of the "Oity Hall,
new Market, and other public improve
ments'-it is very desirable that the
bonds be disposed OF upon as favorable
terms as possible. This is very clear.
On the other hand, too, however nauch
we mag :osr that the money will not be
honestly and economically devoted to
public purposes, the bonds are bound to
be sold, any way, and the city pledged
Tor their redemption. The less they
bring, the less able will the Council be
to carry on public improvements. how
ever sincerely they may be inclined to
do 80. The obligation upon the citizens
and property OF the city will remain the
same in any event. There is no ques-
ton OF reputation here. The bonds
being authorized by Act of the General
Assembly, the redemption OF them will
be binding upon the city, no matter
what the City Council may do with the
proceeds. If they mis-appropriate them
If we get no City Hall, no new Ma1-
: ket, Cove will, at least, have the salts
faction Of knowing where the fault lies;
and we deem it the wiser plan to take
the risks OF loss on that score, to the
-certainty OF injury which must follow o
sacrifice OF the bonds. In the latter
event, few speculators. ana probably
some OF our own greedy officials at that.
will alone be benefited; aud no worse
can happen, even should the money be
squandered by the city government. As
we have said before, we believe there
are some good men in the present Coun-
oil. Possibly, they may prevent impro-
per action in the Council; while, on the
other hand, the sacrifice of the bonds
would be certain loss, and one without
remedy.
We say. then, by all means. let there
be fair and iudicious sale Of the bonds,
and 4et them realize their full worth as
nearly as can be effected. We frankly
admit that we look with suspicion and
prejudice. perhaps. upon every .transac-
4ion by Radical officials in South Caro-
@ina-more particularly the white ones
IN which there is to be any handling of
public moneys. We think it is a reason
'ble suspicion, for We know of not sim
gle transaction of tho kind in which
they have been engaged, from the pur-
chase OF land for the landless to the fur
nishing Of spittoon for the sable legis-
lator, that they have not managed to
swindle the people in it. We defy any
one to show single instance to the con-
4rary. "Pride Of personal character"
may preserve the individual integrity of
some. But that is the only guarantee
that can be depended upon for their
honest behavior in office, and the diff
GUILTY OF asoertaining it's existence pre-
scrlbes our confidence to very limited
number OF those now in high places.
Thus acknowledging our inclination to
suspect some unworthy scheme in the
every act of our of1ioiais, where there is
any money to be made at the peoples
expense, and stating what we conceive
to be justi6able grounds therefor, we
now venture to assert that our ready
suspicious have been excited by the late
report of the Committee OF Ways and
Means OF the City Council upon the
state OF the city finances. We sniff a
swindle in the breeze, and think we de.
teot design to ''bear" the bonds of the
'oity which are to be sold, and to sacri-
noe them in the interests OF some indi.
Fidual, or set of individuals. The
ground OF our suspicion is, simply, that
We cannot otherwise account for the fact
that such grossly incorrect and dan,ag-
ang showing should be made of the re-.
sources OF the city. just before these
bonds are to be put upon the market.
The error in the statement OF the re.
csipts from water rents, which we point.