The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-12-03

= A q membe. Of the Finaaoi.! Board. T Eel
6oand to acknowledge, and recognize the
s.ss With profound pr regret that this wsa
AYor, however. committed In The interest of the
public credit. It was akin to that made by a
general who, having company closely
and about to be cut off, reinforces with regi-
nent after regiment, in an uu Availing effort to
e1tgioste it. until his entire army is crippled
The true policy was to have sacrificed the
bonds first pledged aud supply deficiencies by
taxation. This mode also would have On.
: forced greater e9onomY IN expenditures, for
people w6hld havo then checked tho prevail
Ing sxtrataganoe. 7ae. f.,f
0 Goinoident with the organized movement
: peared in nine Counties Of the state, and, i'm
pelled By political hato and m alice, grievousIy
oppressed and slew! many of our citizens.
thus creating condition OF virtual war for a
period OF nearly three years, which was only
supp ressed by the forces OF the National Co.
vernment on the call OF the State authori-.
ties. as the natural result OF these several
greatly awollen during the past two years
Tho total amount OF outstanding bonded
debt, and bonds in the hands OF the Financial /
Agent hypothecated, &c., according to the
State Treasur6r's report OF October 81, 1871,
and which were declared valid by Tho Act OF
the General Assembly OF March 10, 1879, is
$l6 ,95l ,S27 35 That amount, however,, en-
0A0CSb Co. hOiOuJ DOuu9, WllCu Cu9 FINANCIAL
Agent has hypothecated to secure the pay
nent OF about 81. 600, 600. MY own informa-
ton as, to the total amount Of the bonded
debt ia based upon tho report Of the Fin anoial
report OF the State Treneurer OF October ST.
1871. did not haye, nor could have had.
any knowledge upon the subject except
through tho reports OF those officers:
hsve already given my views at length in
reference to our bonded debt. III my last un-
Mual message, and need not repeat them upon
this occasion.
ass S. I'm aiaS G the charges very generally
nfstration, TO the efsot that the people have
been burdened with grievous taxation, and
havs been norely oppressed by misgoyernmen
IN tho 6tats and Oounties, affirm that the
patent sAota disprove the allesstions.
burdensonro taxes and gross misrule arc
invariably reflected by the material condition
thaa, Of tne communities unhappily subjected to
prtses OF q people. and check the inyostmont
Of capital in business purauits, just az the
eoergles and fanctions of the whole human
body af0 obstructed or destroyed by disease
IN any Of !ss vital parts. These charges may.
therefore, be properly answered by the testi-
mony Of the opposition itself, as given inoi.
dentally in the columns OF. the Charleston
Ne'os, the leading Democratic journal and
the moet authoritative and saGaoious. eYpo-
nent OF the commercial and planting interests
Of the State. In it's issue OF July 20, 1872,
that pspor holds tho following language, in
Ieo icdNiuS eultofidl, buLltleu HOut or the
Depths:"
''The signs are not hard to understand.
They are written on broad fields and busy
streets, in the store-house of the planter,
and the waro-rooms Of the merchant. When
the war ended, tho State was without oapi-
tai, the railroad system was deranged and
partly destroyed, labor was entirely disorga-
nized, agriculture and commerce were alike
At q stand-still. What Is the position now?
newly equipped, excepting where, In tho up
country, they have fallen into the hands OF
Radical rings. The banking capital. al
ie increasing. The labor OF the State il, at
least, efficient enough to enable the planters
TO masks TemuneTativc crops. The receipts
Of cotton and the principal articles Of mer-
both absolutely and as compared with other
ports. The city Of Columbia. which was a
hap oi ruins, i5 bailded up, and is instinct
With commercial life. The city Of Charlsston
Is improving her position. Fast steamships,
admirably equipped, connect Charleston with
the principal cities OF the North Her trade
In naval stores mounts higher every year
The hnaneas of mining and manufacturing
commercial fertilizers gives employment to
hundreds OF working-men, and further swells
tho business Of the port. Truck farming hns
1xeached an Importance, undreamed Of before
the war. Lumber mills, grain mills and
other manufacturing enterprises add to tho
stability. OF the oity. In the interior, the
pFluClphl lOWuS give Cn06flnE 1QOlOAtiOlB OF
progress. They, too, are rebuilding, laying
ont new stroets. putting up mills and i'm
proving their business connections And
this il only an imperfect sketch Of the solid
work which has been done during the psst
Rve years.
It is unnecessary for mo at present to re-
Nerate my views in reference to tho need OF
measures OF retrenchincnt and reform in the
State Government, especially, as nave no.
thing to add to those views as given in nv
last ANIMAL message. desire, however. TO
say, in conclusion, fpllow-ci citizens, that I
shall always osteem it a matter OF high pride
and profound qualification that have been
prominently associated with the rise and pro-
gross Of free government in South Carolina
during the past sevon years.
first entered tho State with great reluc.
tance on my part, in the month Of July, 1864,
having been made prisoner Of war whiIo
serving tho Government of the United States
at the head Of my brigade in battle. NV
capture was without dishonor to me, and tho
lair and honorable treatment that received
in tho military prison at Charleston reflected
honor upon my captors.
My subsequent assgnment to the com.
mand OF most important bureau Of the Go.
vernment in this State, and tho manner in
which administered it's delicate and arduous
autles, as wcll as my election to tho Office Of
doVornor Tor two successive terms b7 the
unanimous vote Of the Republican party. are
matters OF current histor9. frankly admit
asl nov clearly perceive, that have commit.
ted many errors in tho administration or tho
state durlDpi tho Dast four rooro. MI 81 o.,