The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-07-16
THE RING FRAUDS.
ASTONISHING DISCLOSURES IN CO.
LUMBIA.
The Plea Of Treasurer Parker-Where
the Money Wont To-The Gtbson suit
Now Is the Time for Action.
rFRoM OUR OWN CORRESPONDENCE


the Money Went To-The Gibson suit
Now Is the Time for Action.
IFRoM OUR OWN CORRESPONDENCE
COLUMBIA, July 10.
The ,hief event of the last week here has
been the argument of the Blue Ridge bond
scrip before Judge Willard, all the important
features of which TIE NEWS has had by tele-
graph.
The result is, that the scrip is now consider
ed utterly worthless, and probably but little OF
the bogus currency will ever see light.
The State is thus relieved of fraudulent
debt of upwards of two millions of dollars,
which surely ls encouraging for the first effort
which has been made to test the benefits of
judicial investigation in checking the rascalI-
ties Of the Ring.
The destruction of the scrip, however, is not
looked upon as an unmitlgated good, for fit
had been lett unmolested the terrific taxes,
between four and five millions of dollars.
which are to be collected in the fall, could
have been paid In scrip probably at the rate OF
fifty cents or less on the dollar.
1It was the fear of this doubtless and no
honest purpose to benefit the people or expose
fraud, which actuated the proceedings against
the scrip.
Still It ls not to be gainsald that the relief
from two million dollars of Indebtedness is a
thing to be desired, and had better be secured
now when the opportunity offers than post
poned to some doubtful period for the sake of
a temporary and perhaps questionable ad-
vantage.
The people will have to pay their taxes In
greenbacks, but they will have between five
and six hundred thousand dollars less to be
collected; for, now that the scrip is declared
unconstitutional, of course the tax of three
mills on the dollar levied tor it's redemption
must fall to the ground.
The case which is now pending against
Parker, that of 7. ]. & H. N. Gibson and others,
creditors of the State, promises even more
Interesting developments and possibly more
important results than the one which has so
gloriously demolished the bond scrip. T. ]. g.
81. NJ. Gibson are reliable merchants OF this
city In the grocery line.
They have, during the past year and per-
haps before, supplied the Lunatic Asylum and
such like institutions with bacon, flour, sugar,
coffee, molasses, &C.. TO feed the inmates,
and have been obliged to accept orders on
the treasury In payment for their goods.
These orders CT drafts Parker has hitherto re-
fused or failed to honor, and the Glbsons have
brought general creditors suit against him.
He will either have to pay their claims and
thus put an end to the proceedings, or else
make q full showing Of his receipts and ex-
peniltures and satisfy the court of his Inability
tG pay. he has made an affidavit In
aid of the proceedings, some account Of
which The NEWS had by telegraph several
days since. The sum and substance of the
thing Is that Parker has or claims to haue paid
out for the erpenses Of the last General Assem-
bly ,oithtn small fraction OF the ent,rc tao
collected for this fiscal year. Your cores
pondeAt does not know what amount Parker
acknowledges to have been realized, but 1t is
a yerv simple calculation when we know the
rate of taxation and the amount OF taxable
property according to assessment. The rate
being seven mills to the dollar, and the as
sessed value of property being sls4, ,O00, 900,
Mr.. Parker should have received into his
>vaults somewhere In the 1sighborhood Of
$1,000, 900. He probably does not own to that
much by several hundred thousand dollars,
but whatever he did receive he claims to have
paid out for the per diem and mileage of the
members of the Legislature, the public print
Ing and other Incidental legislative expenses,
and left besides claims of the same sort to the
amount of untold Thousands still nnsatis6ed.
he claims to have paid out upon legislative
certificates $500, 900 in cash, and to have given
due bills on the treasury tor s35O,0OO more.
There is no doubt of the extravaganza OF
the General Assembly and. Of the corrupt
and reckless manner in which pay certificates
were distributed; but 1t Is fac. very well
known that only precious few Of the mem.
befs got any money upon their certificates
from Parker last winter.
The great bulk OF the members have their
certificates still, or else have discounted them
to the brokers. There has not been day for
the last nine months when 1t was known that
there was dollar in the treasury. The con-
tlnual cry has been-no money and, In your
correspondents Judgment, as In that of every
observant -.dn, Parker's allegation of having
paid out 100000 legitimately for legislative
expenses is all hoax. The general belief ls,
that what money did not 60 to buy off scott's
Impeachment, and to secure the passage OF
the validating bill, went to Ktmpton, In New
York, to further his, Scott's and Parker's
speculative schemes there.
But we may hope to know more OF these
matters as this suit at law progresses. The
plaintiffs attorneys, Messrs. Pope and Has
kell, were dissatisfied with Parkers exhibit,
and Judge Willard has ordered that he make
1t more full and explicit, so that 1t may be seen
not only how much has been paid out or re-
ceived, but to or from whom, when and for
what purposes.
Noao surely Is the time, if there ever aoas or
euer aoil be time for the taxpayers to take ac-
ton, and in some aoay become parties and haue
counsel to represent then, in this suit.
TheBlue Ridge case proper, in which John
Mackay is the plaintiff, has been postponed
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