The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-03-28
The CITY Bonds.

Ths CITY. Roads. .->--a.-->
The qity5 Ooup peil. Is .yiM ye q Ay
the proceedings psblishsd thia 4d3pinb
adopted 4Tesolutipn tSfYssll the bonda
authprizsd to bo issuefby thaAotsf the
General Assembly at its last session. at
public outcry. according to the provi-
sions Of the ACT, on the 10Th OF May
next. It would seem. from tho wording
OF the res93utioD, that all the bonds au.
thorized under the ACT, somewhere be-
tween 1926, 900 and $3.50. 900. are to be
sold. a5he debt to DR.. Neagle neoessi-
t,tes the sale Of enough to realize the
amount due him; but Why sell the ba-
lanceP We have been told. upon reliable
authority. thas DR.. Neagle has expressed
his willingness to take the bonds at
seventy five cents on the dollar, in liqui-
dation OF his claim. There would,
therefore. be needed, at the outside, not
more than 500. 600 Of the bonds to pay
him. What is the rest OF the money to
be applied to? and il there be no legiti.
mate object to which it is to be applied,
why load tho city with the additional
debt?
There is another point. too, upon
which the resolution ia strangely silent.
La it purposed to sell the bonds one by
one. or is there to be Jumping Of the
whole pile? The smaller tho amount of
bonds sold. and the smaller lots in which
they are sold, the higher price they will
bring; and it is. therefore, matter of
some Importance how the sale is ar
ranged. We trust, however, that before
the day OF saie, there will be such
change in the members OF the city 60
vernment as will insare us against any
swindling operations. It should be a
spur to tho exertions Of the good people
Of Columbia, in the approaching cleo
tions. to bear in mind tho large amount
OF money which will pass into the hands
OF the next Council. The proceeds of
$3.50, 900 Of oity bonds, though there is
no necessity for the money, can be at
least 80 invested by honest men as not to
prove loss. But il soheming carpet.
baggers get the control Of its disposi-
ton, it will be as so much money filched
from the pockets OF the people.
These bond speoulations will continue
for season, until the credit Of the city
is utterly destroyed, and then will come
the quadrupled taxation, as is now the
case with the State Government. AL
ready the people are made to pay $40, 1000
in excess OF legitimate expenditures: or,
in other words. nearly double the
amount needed even for our extravagant
city government. What becomes of
that money? Now and then we see a
few thousands Of it cropping out in the
fancy teams and gilded bretts OF our
newly made carpet-bag gentry, and the
balance finds an exit in channels that
ore not 80 open to public view.
We clip the folio wing from an article
In the Abbeville Medium, headed "Our
Duty" We agree with our spirited CO.
temporary that upon the young men OF
the State rests the main hope OF our
salvation from the ruin that is impond.
ing from carpet-bag rule:
'When politics becomes q game, in
which dsmagognes are the players, the
people pawns, and the spoils OF Office are
the stakes at hazard;" when men in high
places become the violators of law, both
human and divine--when shameful broils
and brutalities are witnessed even in To-
gislativs halle-when color becomes q
synonym for worth, and high official po.
sltion an apology for vice-when of1icial
station ID made the means of extortiou,
oppression, and the instrument for
avengiDg private auimosities- the
perfidies by which private trust funds
are appropriated. and the public trea
sury IL plnndered, are unpnnished-
when the intrigues, by which the baseht
Of men are elevated to posts of the high
est responsibility aud authority. are sue
cessfnl. comes mookery Of justice, per.
version of law. general decentralization