The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-03-03
COLUMBIA, IS. g.
Sunday Morning, March 8 1872.

~ - ~ AsA--k>AAAS No W
Sunday Morning, March 8 1872.
no Moro increase or the Publlol Debt
Tho Now Amendment.
A joint resolution to submit an amend.
ment OF the constitution to the people
at the next general election, which will
effeotually prevent further increase OF
the public debt, passed its second read.
ing in the House on Friday. The pro.
posed amendment reads as follows: i,
s"To the end that the public debt may
not hereafter be increased, without the
due consideration and free consent of the
people of the State, the General Assem-
bly, is hereby forbidden to create any
further debt or obligation. either by the
loan of the credit of the State. by guar
antee. endorsement or otherwise, except
for the purpose OF meeting it's existing
obligations. or in and for the ordinary
and current business of the State, with
out first submitting the creation of any
such new debt. guarantee. endorsement
or loan of its credit to the people of the
State at general State election; and
unless two-thirds of the qualified voters
Va WIG 0Vbu0 tOLO Ou tuo 4ucotlOus WHO
shall be in favor of further debt, guar
antee, endorsement or loan of its credit,
none such shall be created or made"
This is very proper provision, in so
far as it bases further increase of the
public debt. upon consent of two thirds
OF the voters of the State. We do not,
however, grow very enthusiastic in oon.
templating it, for we are forced to feel
that the adoption Of such ON amendment,
at this late day, after the gross frauds
that have been practiced by the State
officials, in their manipulations of the
bonds Of the State, and the illegal and
outrageous manner in which the public
debt has been already increased, is pain
fully like 'looking the door after the
horse has been stolen" To guard
against future mishaps is wise and ex-
pedient beyond all question, but to
correct present evils is the more i.,pera-
tive duty.
Are we to have no inquiry into the
conduct of the Financial Board last
year, whereby over $1,000. 600 taking
their own fgures--have been added to
the public debt in one year. and that,
too, when tax of over $l.8OO. 900 was
levied, which greatly exceeds the appro-
priations OF the General Assembly, ex-
travagant though they were? Is suoh a
palpable and enormous swindie to be
quietly acquiesced in, and the knaves
who have gorged their greedy maws at
the EXPENSE of poverty stricken people,
allowed to go unwhipt of justice and
without even reprimand2
Twist and squirm and lie as the hnan-
DIAL ring may. they cannot escape the
evidence OF their own fgnras. BY these
figures, it is patent, as above stated, that
upwards OF $1,000, 600 have been added
to the obligations OF the State during
last year. The Legislature, the whole
Republican panty OF the State, is respon-
sible for it. The Legislature, by passing
the matter over, virtually makes the
crime their own; and the colored people,
by sustaining their present representa-
tives, must show themselves equally cul-
pablo. The amendment, good as re-
specta its futuoe intendment, is calcu.
lated, as now framed, to give an indirect
coloring OF legality to the bonds that
have been issued in irand. What does
the exception of existing obligations
mean? Is 1t not designed to affect the
$1,000, 900 of bonds illegally issued last
year2 We fear 30, and that the prime
object of the amendment is simply to
bolster up the slender aud tottering
value of these obligations, 80. called,
which ought properly, and doubtless in
time will be, wholly repudiated. The
''existing obligations" should at least be
determined, both as to character and
amount, before any exception is made in
their favor.
Aere comes man asserting that he
has discovered specific for smallpox,
L.