The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-04-28
fore, as affecting the value'of the bonds.

dollar. They were under.estimated, We
believe, and think we have so shown, to
an amount actually more than sufficient
to pay the entire interest on the $3.50, 600
OF bonds which, at seven per ocnt. :,
would amount to $3.50 We may be
in error as to the cause of the under.
estimate, but submit to any candid mind
that it looks very fishy.
There is another little circumstance.
too, that appears to our prejudiced mind
little suspicious, in connection With
the sale of the bonds. The amounts in
which they are to be sold is not stated
in the advertisement, which, it appears
to us. should have been done, in order
to allow purchasers an opportunity to
be prepared. If those having the sale
in charge be 80 inclined, what is to pre-
vent their making the sale on just suoh
terms as may meet the views OF specu-
lators wishing to purchase them for
mere song? There may be number OF
small capitalists desirous OF investing
81, 900. $4,000 or $40, 900. who would be
completely barred out il the sale is made
in larger sums. Furthermore. there
may DO number OF such capitalists
from distance. who would attend the
sale if they knew in what sums the bonds
are to be sold, who would not go to the
expense OF coming here on an uncer-
tainty. We may be in error here, too,
in the motive which our prejudice sug-
gests, but it is to be remarked tha, both
the presumed motives point in the same
direction.
30 much for our suspicious, which, if
we have wounded any honest mans SEN
sibilities in expressing, We humbly beg
his pardon.
AS to the value of the bonds, we have
to say, that there is not public security
IN the State to compare with them. The
city Indebtedness is only 5000, 900, all
told, and the taxable property. real and
personal, amounts to $5,OOO.OOO. The
income OF the oity last year amounted to
some $4,000 over and above the ordi
nary expenses and the interest of the
then existing public debt. her "enemies
themselves being the judges" Colum-
bia is, moreover, growing ana thriving
city; real estate is rapidly appreciating,
numerous and handsome buildings con-
stantly going up, and business of every
kind almost daily increasing. It is about
the only prosperous place in South Caro-
lima, which is attributable to the fact
that it is the legislative centre, where
the bills "to give everybody everything"
ore passed, and where money, being
easy got, easy goes. A large number of
Northern philanthropists, who have
kindly undertaken to run our little State
for Us, have settled in our midst and
built costly mansions, and otherwise
lavishly spend the honest earnings they
have garnered in running the ma
chine" Even those that represent re-
mote Counties are located hero, and add
their mite to the prosperity of the city.
Indeed, it may with truth be said that
onr moneyed Legislature, though
curse to the rest of the State, is fruitful
OF blessings to Columbia in the way of
business. There is. moreover, no ap.
prehension at present that this noble i'm
pulse to prosperity will be slackened for
many years to come. So long as there is
dollar in any other part of South Caro-
lima, Columbia is sure to get per cent
age OF it. All the proceeds of law
making toll TINT doesn't seek refuge in
New York, Ohio and ono or two other
favored Northern States, find place of
rest in our beautiful city. We think we
can truthfully say that seldom, if ever.
will capitalists have luckior opportu-
nifty to make paying Investment, than
by attending the sale Of bonds on th,
18th proximo.
That was most swashing blow from
the English quarterstaff when it was re-
piled to the ''case" OF our misadminis-
tration that the Americans sought to