The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-01-11
SCOTT PLAYED A LONE HAND.

Certainly these facts which are all of record,
| and speak tor themselves, do not tend to war
rant the imputatlon cast upon me by the au-
| thor of the ioint report, and by his coadjutor
and forerunner in theHouse (Mr. 6. G. Bowen)
| that have endeavored to screen and cover up
the transactions Of The financial agent, and
| that he and have been IN criminal copartner-
shin to plunder the State, By an Illegal or im.
pfoyident use of It's securities for private gain.
| FEARFu1, ExrRAvAGANCE OF THE GOVERNMENT.
Tn reference to what is alleged by the COM
mittee that The bulk of The new bonds out
| sranIfno was unnecessarily Issued, would
! simply say that 1t is we'll known 10 every men,
nor III the General Assembly that, during the
nnsi three years, the authorized expenditures of
| he State luue far erceeded ITS actual income
| from ta1dtion This being true, would ask,
in the name of common sense, where was the
deficiency to come from! 10 tne members OF
mend million and half dollars Isl, 500, ,000) q
wear. and nav 1t with an income of q million?
This heinp evidently impossible, 1t Is plain that
the money to meet the deficiency was re-
ceIved from some source other than taxation.
The deficiency in the collection of taxes
amounted, 10 three years, 10 81, ,l37 900. One
| million dollars sl,OOO,OO0) was expended be-
fore a single cent was collected, In order to
meet ihe ciirrent expenses OF the State Gov.
ernment. One million dollars Isl, 900, ,000) to
nav interest accumulated on the public debt
foidl mo to July l, 1859; FIVE hundred thousand
dollars $500, ,O0O) to redeem bills receivable,
and seven hundred thousand dollars (s700, ,000)
for the land commission. These sums aggre-
cate four millions three hundred and thirty
sssven thousand dollars (s4,337, ,000) In money
actually raised and expended, In addition to
the money derived from taxes. More than half
nj this aim was consumed In meeting debts
Contracted before the organization of the pres.
ent State Government.
THE DEBT ONLY Sic, 100000!
The Joint report, (page 2s7,) with Its well
established disregard for facts, ana singular
rashness In the use, or ABUSE, OF ngures, ior
purpose that will be shown hereafter, places
the bonded debt OF the state at S29,l5s,9I4 Al.
This is 80 bold and monstrous an e3aggerstion
that 1t would be perfectly ASTOUNDING, Inc
mind of the reader OF the report had not been
nrenared by previous disclosures of its un-
trrnfhfnlness. to meet, without surprise, any
depree of mendacity In ils closing pages. This
sIafement nuts the actual bonded debt at q
1gnre which Is $13,39l, ,005 40 in excess OF
what II can possibly be, even though every
hond ever placed In the hands of the financial
aoent. and not now In the treasury, should be-
Come total loss to the State. This enormous
1pnre Ia reached by CHASING, as part OF The
debt The ak millions c, ,0g0, ,0t0) of sterling loan
honds now 10 the State treasury, and Sc, 7o7,-
60s 20 of railroad bonds, on which the State
apnears only as an endorser, paying no Inter.
est, and only liable for any deficiency alter all
| the property of the roads, which have ample
assets. shall have been exhausted. In proof
that these endorsements do not necessarily
| make part of the State debt, refer TO tne