Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-03-07

assets Of the road had been exhausted,
and 1t is fair to presume before the twen-
ty years had expired the work would
have been completed, and these bonds
would have been first mortgage upon
the entire property, and hence, a good
security independents of the State endorse
ment. -
The present embarrassed condition OF
the finances Of the State does not appear
to me to warrant us in mourning SO Hrgc
an obligation to be ph, in so snort
period Of time as that named in the Act,
even if under any circumstances 1t was
justifiable.
I might, however, very reasonably
doubt the correctness Of my own JudS-
ment in this respect When i reflect that
the measure passed both Houses l;y more
than three quarters vote, thereby s.inw-
:ns that tho General Assembly differ
verv widely from me on thi; suh]ec.; {;
also, from the fact that, although this Bill
has been ON the Calendar for more than
month, the entire press of the State has
been silent on its merits, lea6ing INC to
infer tlrat it meets the approval epflall
parties intereste ea in the financial tare
of the State. Therefore, might not feel
it to be my duty to do more than express
my disapproval of the. measure on
groundssof public eNpcdiency. j.!
But there are reasons in my Judgment
deeper and lhorc- substantial than those
of expedicncy. There are grave doubts
IL; ty the conStitutionahty of the act. both
F. d.ral and State. The Constitution OF
the United States clearly prohibits STATE
f-um lssuihg Bills 9of2 credit, VIII the
State Constitution provides that a dept
can only he created by an issue OF Bonds
running twenty years. But Whetncr
these objections are valid or,nct there Is
sts another objection which in my judg-
,nent is paramount to any other reason
.hat can 30 urged against the Act becom-
ing a law. During the last four years the
Iiegislature has appropriated money for
legislative and other expenses amount
Ing I'M the aggressatc to abouttwo million
d,,llars, without hvying n single mill OF
t,Xes to raise the money. These several
appropriations tor. Legislative expenses
Authorize the Treasurer to pay them out
II rnoneys not otherwise appropriated,
when it must have been clear to the. mind
of every member of the General Assem-
by, that there was not dollar collected
from the levy of taxes that has not been
appropriated in the general Approprla-
ton Bill, to npeet the annual expenses
each fiscal year; and even in the coliec
tlOfl u Lie HSuSLsai tsA-N nv y >i'~AN
Been deficit of from twenty-five to fifty
per cent. per annum from delinquent
taxes. This deficit; T have previously
s1atsd to tho General Assembly, was.
about 81, ,2OG, ,e0C; hence the moneys ex-
pended, for which no levy Of tax was
t;n ale, added to this amount, makes an
|cas.srogate of over.three millions of dol
iafs>, In this statement have not taken
Into account the numerous claims, inclu-
ding the Land Commission, which have
been paid out OF moneys borrowed.
Up to this moment no dispositlHn ap-
pears to prevail on the part Of the Cen
eral Assembly to even recognize the OBJ
| legation that is due on the part OF the
Ssaso to those who came forward IN the
hour of our danger. or failure for want OF
money to sustain the Government, but
with an indifference eincomprehensible to
my mind, the General Assembly seems
|: determined to tax the resources. OF the
State to meetia mere contingent obliga-
lion, not due for many years, and which,
to very limited extent, has become
liability to the Blue. Ridge Road or the
\ State, as its endorsement, from which
| the legitimate creditors are led to infer
that they are to be left, victims of mis-
| placed confidence. On this subject there
| l. something more. due toourcreditors,
which will lay before you previous to
your adjournment.
Very respectfully, &c..
ROBERTK. SCOTT