Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1872-02-23
The Blue Ridge Railgoad.


lesion Courier says: $
The questionlnow before the Legislature
is not whether tho Blue Bidge Road shall be
built. AS this .hers would DO no dissent.
The "Ring" who have now its control do not
propose to build, or construct tho Road.
The best oyidence is this That in the pro-
sent proposal there is not only no guarantee
or pledge to this effect, but not slngc word
indicating that any of the moneys asked from
tho State Ond tho pockets of tho taxpayers,
shall be applied either to tho construction, or
completion of tho Road. It is, therefore,
evident that this is wide of tho mark, and no
such purpose is contemplated. Otherwise,
it would have been stated.
The measure proposed is adroit and decep.
tive, rs oil partial statements of facts are. It
announces tho. the State has endorsed its
guarantee FOR four millions of bonds issued by
the Buo Ridge Rail Road Company under
the Act of September tho 10Th, 1868, and
that these create a liability on the State,
which the Treasury may be required to meet
at unforeseen and unoppertune times. 1t is
well known that the liability of tho State un:
der the Act Of September 18th, 1868, has
long been doubted It is believed, indepen.
dent of other. considerations, to be invalid as
the terms oftthe Act have never been CON-
piled with: We need quote but one provi-
sion of the Act Of 1868, provided that tho
saii bonds, OF, any part thereof, shall not be
used unless upon tho express condition, that
upon application to the Congress Of tho Un-
tied States, or to private capitalists, the
amount of three millions of dollars in ourrency,
or so much Of that sum as may be necessary,
shall bo furnished in exchange or upon the
security Of said bonds" And as to the re.
naming one million dollars Of bonds, "that SO
much of the said issue as may be necessary,
not exceeding three hundred thousand dol.
lars, shall be applied to the redemption Of the
present bonded debt Of tho company"
Now, without discussing and waving the
legality of this Act, we know that neither the
Congress of the United States or private cap.
italsts have furnished three millions of dol.
lars in exchange or upon the security of tho
three millions dollars Of bonds. $50 that the
achole liability the State, unaer the lac,
aoonla be for three hundred thousand dollars
on the remaining million, and this provided
these ha ace,been applied to the payment of the
bonded debt ofhe company" If not 80 ap-
piled, then the State is responsible for moth.
ing, and the whole fou. millions are without
authority, and are hold in defiance of tho law
and the Act, end arc without validity.
4 And yet the very application now made by
tho Ring to the Legislature, as to its own
laws, states that "these bonds and their cou.
pons are now pledged in the city of New York
and elsewhere" and are held by Mr.. Kimp.
ton, the Financial Agent, as collateral secur
ity for advances made by him to the Blue
Ridge Rail Road Company. The only au.
thority, as we have shewn, is for their use ITO
the extent of three hundred thousand dollars
for the payment Of the bouded debt of tho
State" This, therefore, if so used which is
not alleged or pretended. constitutes, oven if
the Act be legal, the whole possible response.
bilty of the State. And now, upon the false
assumption and pretence of the liability of the
State, they ask, amid all the financial disas
ter, that there should be further spoliation
Of one million eight hundred thousand dollars,
which, without any value, is not only to be
received in payment of taxes and other dues
TO the State. The proposition is so monstrous
as to amount simply to the red high hand,
More than this, while tho taxes are now
pressing the people to the dust, and crush
ing out every department Of industry and hon.
esty, this measure proposes, for the private
enrichment of the individuals who compose
the f'Rng," an annual tax to be levied Of
"thrce mills on the dollar, in addition to all
other taxes, on tho assessed value of all taxa
BILE property in the State,' for the redemption
of the nearly two millions of dollars thus pro.
posed to be illegally, and by tho mere cxer-
else of despotic power, issued.
But there Is another and dangerous fea.
turc. The Legislature is not only asked to
add to the public debt and for the benefit Of the
Ring, one million eight hundred thousand dol
lars, when we have now debt under which we
cannot stagger, and to tax annually the people
Of the State for its redemption, when the taxes
now almost are equivalent to confscation, and
this without the slightest guarantee for either
the construction or completion Of the road,
but to confer upon the Ring the unheard of
points or places in the State, and to issue
bonds and create mortgages to such amount
and in such manner as tho Board of Directors
may direct" There is no statement as to
what is to be done with the money to be rails.
ed by these indefinite and unlimited mort
cages. "u
The measure proposed bristles with its ca
pacity for fraud on every side It is the
boldest attempt yet made on the Treasury ol
the State and the pockets of the people. II
it succeeds, the purse and property of no man
however humble is safe. These are at the
mercy Of every lobbyist and every "Ring.''
There is an end of all security.
To be Tumbled Overheard.
On Saturday last, most acrimonious de-
bate took place in the State Senate between
members Of tho Radical party. On this the
senator from Richand is thus reported