The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-01-11

CHARLESTON,
i GOVERNOR SCOTT'S PLEA.
IN INGENIOUS ANSWER TO THE BOIL
IMPEA CHEERS.
The Governor Turns upon his Accuser
.-Severe Rasping OF Bowen; White
more, Hurley, WhIpper and the Rest
The special message of Governor Scott, I'll
reply to charges made against him" by th'
joint investigating committee, is too long fo
publication entire, but We give the most preg
nant and pungent passages
THE CHARGES AGAINST SCOTT.
The Governor says: The various loose ale
cations (of the joint commlttes) reduced to
definite shape, are:
First. That, az Governor. have over-issued
| to IN over-issue of State bonds, amounting to
TO furnish basis for this charge, 1t was first
necessary to make it appear 70 the House
| that there was an actual oyer-issue OF 0onos
as the charge was manifestly not tenable for
an instant, unless such, ,over-!ssue, were clearly
proved. The following are the alleged proofs,
and all the proofs yet alleged of the over-lssue
charged:
lat. That the State treasurer reported, on the
3lst day of October, 1870, that The total amount
of bonds issued to that date was s., 200, 600.
I'd. That the State treasurer reported, on the
3lst day of October, 1871, that the amount OF
IA n
Sd. That, accepting these two statements OF
the treasurer as true, bonds to the amount OF
s6, ,3l4, 900 were issued by the Governor be.
tween the 31st day of October, 1870, and the
3lst day of November, 1871, and, therefore,
such bonds were an over-issue, because tney
were Issued subsequent to August 26, 1870, the
date at which the twenty-four months limita-
tion fixed by law for the tissue of bonds" ex-
pired, pursuant to the act of March 26. 1863,
(Siat at Large, Vol. IA, p. 1851 entitled IAN
act to authorize the financial agent OF the
State of South Carolina. In the City OF New
York, to pledge State bonds as collateral se-
eurliy, and for other purposes"
In order TO make 1t palm that the above
conclusion is not warranted: BY the premises
on which 1t Is professediy based, and cannot:
by any stretch OF human Ingenuity, be e4torted
from the terms of the law, which is avowedly
its sole foundation, ask your careful conslde-
ration of the act in question.
TINE WAS MONEY.
twill be seen that this act, lof March rs,
1869. the provisions OF which have never been
modified, as there Is no later act upon this
subject, simply fixes the time s'during which
loans may be negotiated" !" and makes no llmt-
tation whatever as 10 the Issue OF bonds. 1t
cannot, therefore, be tortured, by any scheme
OF malice or imposture, into o proh10itlon
against the issue of bonds, even at this date,
,{of fnd Frl n q
ton OF the period designated Tor the negolla-
ton of loane.
But, even granting that this act did, IN
plain terms, prohibit the issue or salet OF q
single bond after the 26th day of August. 1870,
and that bonds In the amount named were is-
sued and sold since that date, still Ibis fact
would be utterly foreign TO anypossiole charge
that would warrant the Impeachment OF tne
Governor; for the powers granted oy tne act
In question and the restrictions that 1t lmpo-
ses relate to the financial agent, and to'the
financial agent alone, and whatever penalties
NAV attach to their abuse or violation must De
visited solely on him under the provisions OF
this law. Indeed, this very aot, In unmistak-
able language, excludes the executive rom Sll
declaring (Section lr'"That the financial
agent of the State Of South Carolina, inthe
City of New York, be, and he is hereby, au.
thorlzed to pledge the bonds Of the State,
which the State now has, or r.msy hereafter
have In Its possession, as collateral security
for State loans"
NO RESTRICTIONS UPON THE FINANCIAL AGENT.
The only restriction imposedupon the fnan.
cial agent, in the exercise of the extraordinary
power tnus gtre1 obi him, s 10 Section Of the
act of August rs, 1868, (Statutss et Large, Vol.
form his transaGtions;' but these restrictions
apply only when bonds are to be sold, and re-
onire him 10 sell "at the highest market
price, and not lees than for cum to be liked
by the Governor, attorney general and treas
urer," these officers being named IN the act,
In their joint capacity, as the financial board
of the State, and not In their official charac-
ment of the State government. As additional
evidence OF the miserable trlckery and reck-
less perverslous of law and fact resorted to by
the Trainer of the report presented In the
House, and which have thus fur reviewed
and answered, I call your attention to the
fact that It ls therein stated, Or implied, that
the act Of March 26, 1869, prohioits the negot-
August 26, 1870, whereas said act contains no
such restrictions, (see Section 2,) It's lmita-
tIops referring only to two loans that are
plainly specified, to wit: the sloan to pay the
interest on the public debt" and the "loan 10
redeem the obligations known as the bills re-
ceivable."
Neither of these loans is alleged, by the
author of the report, to have been negotiated
subsequent to August Is, 1870, and they were
both, Ia fact, negotiated prior to that date, as
shown BY the report of the State treasurer.
SCOTT DENIES AN ovER-1ssUE.
unhesitatlngly deny that there has been
any over.issue OF bonds, or that any one bond,
of any class, has been issued, except in pursu-
ance Of law. Whenever the acts authorizing
the issue of State securities were susceptible
of the slightest doubt of their real meaning
and intent, as regards the issue of any class or
amount of bonds, and their eale or hypotheca'
tIon, the opinion of the altorney-general was
required and obtained by the board; and no
bond has been Issued contrary to the opinion
Of the attorney.general, the highest law officer
of the State.
The oft.repeated assertion, in this Joint re-
port that bonds have been Over-issned, makes
It requisite (before proceeding to demonstrate
the audacious falsiy of its conclusions. so far
as they effect me personally or officially, that
the term ''over.lssue" should be clearly defined
In Its legal acceptation.
An over.issue of bonds Is, In legal sense,
an issue made In excess Of the amount OF
bonds authorized by law. AS, HOWEVER, NOT
ONE OF THE ACTS AUTHORIZING THE CREATION
OF LOAN, LIMITS THE AMOUNT OF BONDS TO BE
IssUED-they specifying only the amount OF
money 10 be raised on bonds OF the State,