The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-02-21
A Test Question.

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The bills upon which the State officials
rely for their extrication from the Financial
slough contain the provision that no addi.
ton shall, in the future, be made to the
public debt, unless two.thirds. OF the quail
fed voters of the State, at a general elec-
tion, give their consent
II is never too late for the Radical politi.
clans to mend their ways. Thsy are
wrinsing millions from the etaxpayers to sup.
Eply the deficit caused by their own extrava'
gance and rascality, and their tax bills and
license bills are expected to give the Wall
street operators confidence in the monetary
integrity OF South Carolina. We may not
be able to prevent the Legislature from i'm
posing their confiscatory State tax Of III
mills on the dollar; nor may we succeed in
compelling the Ring to replace the millions
they have squandered or stolen. But some
thing will be gained II the Legislature rest
content with the spoils they have already
won. A debt OF fifteen millions is easier to
carry than debt Of twenty millions or
thirty. We, therefore, should be glad to
see the General Assembly adopt, in good
faith, any measure which would prevent
them from making ourcondition more en-
barrassing than it now is. The question for
the people and for the spectators to consider
is, Whether the Legislature, in their proposed
prohibition of any addition to the public
debt, are acting honestly, or are only con.
irving O plan which shall give them, next
year and the next, larger opportunities in
the way Of wholesale stealing.
An Act OF Assembly declaring that the
STATE uuur suu1t not De increased without
the consent OF the people, given at a gene
raj election, is not OF the slightest protective
value. It binds the faith and honor OF the
present Legislature and Of l. -uccessors.
But the very Legislature which framed and
passed the law could repeal it on the
morrow, il it so desired. And the Legisla-
ture to be elected next October could do the
same thing, If it chose. The faith and credit
OF the State are bound for the payment OF
six per cent. interest upon the bonds OF the
State. Yet the interest remains unpaid,
and the holders OF the bonds have no re.
dress. And the credulous investors who
bought State bonds, upon the faith OF the
agreement that no additional debt should be
created, would be equally without remedy.
The State can not be sued, and the General
Assembly cannot restrict the action Of it's
successors.
It is idle to suppose that the Attorney
General Of the State, and the shrewd law
yers who are in consultation with the men,
bers of the Ring, have overlooked the flaw
in their fair-seemiDg legislation. They must
know that the proposal to prohibit, by Act
of Assembly, any increase OF the public debt,
is no protection whatever to either taxi aver
or bondholder. And yet we give them the
benefit OF doubt, and point out line OF
conduct which will prove their good faith
and sincerity OF purpose. If the General
Assembly will, at the present session, adopt
constitutional amendment providing that
no new debt shall be created except by Act
of Assembly, ratified by two-thlrds popu-
lar vote at the general election succeeding
it's passage, the amendment can be voted
upon and adopted in October, and, when
ratified by the Legislature in December, will
become binding part Of the organic law OF
the State. With this provision engrafted
upon the Constitution, any improper addi-
ton to the public debt becomes impossible.
Any body or person attempting to create a
new debt or issue new bonds, without the
consent OF the people, specifically given,
could instantly be restrained from 30 doing
by the courts OF the State.
We need not enlarge upon this subject. II
the State officials are In earnest in desiring
to prevent any increase Of debt, they viii
adopt joint resolution for the amendment
OF the Constitution as we have suggested.
II they only mean to fool the people and the
Wall street brokers, they will content them
selves with adopting the statutory provision
which we have shown to be wholly useless
and imperative.