The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-08-12
THOU SHALT NOT STEAL.
4 ROUsING REBUKE OF THE R4DICAL
RING.

States District Attorney D. T. Corbr
late State senator, chairman Of the Stat
codifYing commission, &C., brief summary Q
which has already appeared in these columns
Is the most complete, systematic and unans
werable erpoSe and arraignment OF the fnan
cial rascalities that have been perpetrated b
the present State administration of South Car
ollna since their unhappy elevation 10 power
that has yet emanated from q Republican
source. The facts used in his argument hav
already been patiently uneartned by the Dem
ocratic press, and have been spread befor
the reading public of the State and countr.
with equal eloquence and with hardl
less particularly of detail, but the
have hitherto been characterized by The
Republicans az Ingenious romances Of The
Opposition. and have thus been shorn of
portion OF their effectiveness, at least with tn
members Of the Republican party. Theil
weight, however, Is vastly increased wheI
they come, as they now do, from politician
Wig been Intimate with the innermos
councils Of the South Carolina Republicans for
years--the leading light of their legal circles
was needed In their defence, and who can
from his own knowledge and memory, fill UP
in many and important places the rough out
lines of the disgracefnl history thathas already
been given to the world.
DOUBLE AND DIFFICULT DUTY.
Mr.. CorbIn, at Greenville, appeared first
before his audience as the champion of Pres
dent Grant, and next In his double ano
rather incongruous character Of Grants advo
cate and Scott's accuser, he commenced 6
careful review and arraignment of the Safe
administration. He said:
What am about TO say OF the present State
officers has long been source of great regret
and distress to me. I say 1t with shame, and
with r-y heart sinking within me. Four years
,>alo fa1 fff fhD hIfvh nffS Afn
or this State R. K. Scott, and two years ago he
was re-elected-not, however, by my voice or
vote. We also elected four years ago. D. 81.
Chamberlain, attorney-geperal; N. G. Parker,
treasurer; j. l.. Neagle, omptroller.general;
F. l.. Cardozo, secretary Of State; FL. Moses,
Jr., adjutant and inspector-general, and ]. K.
Jillson, superintendent of education. They
have been ln possession of the State Govern
ment since, and what is the record they have
written! Four years ago, addressed you 10
favor of their election. May God forgive me,
as to part of them, at least, for am heartily
sorry, and will never 30 do again.
WHAT THE LEGISLATURE AUTHORIZED.
Mr. Corbin then enumerated the financial
acts of the Legislature during the past tour
years, and showed that during that period
the only acts authorizing Increases of the
bonded debt of the State by the Legislature
were as follows:
August, ls6s.-Fer redemption of
the ss of ,ner 100000
bonds. 1000, 900
September, ls6s.-For the redemp-
ton OF the bills of the Bank OF the
State. ...................... 1,lss,4Oo
lhe treasury. .................... 1,ooo, 1000
sion. -. 100000
March, ls7O.-For the land commits
sion. ........ 100000
Total. ................. S., 1886, 400
He continued: These are the only acts OF
the Legislature, passed during the last four
years, authorizing the creation Of bonded
debt on behalf OF the State, and, If you have
followed me carefully, you will perceive that
the whole amount authorized Is $4, ,3S9, 400.
Now, by the official statement OF Mr. Treas
urer Parker of the public debt OF the State at
the close Of the fiscal year ending October 81,
1871, the bonded debt of the State amounted
to fifteen millions eight hundred and fhy-one
Thousand three hundred and tWenty-seven
dollars and thirty.fve cents. t$l6, ,S5l, ,327 35,)
or, in round numbers, sixteen millions OF dol
lars, ($l6,000,000.) Now, take from this
amount the amount of bonded debt in exls-
tence when the present State officers came Into
power, and 1t appears that the debt has actually
been increased about ten and half millions.
WHAT THE RING THIEVES STOLE.
Now. hew does this tally with the amount actu-
ally authorized by the Legislature? The amount
authorized by the Legislature, as already
shown YOU, is four millions three hundred
and eghty.nne thousand four hundred dollars,
{S43S9, ,4O0,) Subtract this amount from The
actual increase Of the debt, and you hnd mat:
without authority of law, there has been added
to the State debt over five and halt millions
of dollars. Fellow. citizens, this Is true
statement of the case, as appears from tne
financial report of Mr.. Parker, and lake It
that he has made as favorable statement as
her possibly could. My own opinion is, that
the increase of debt is considerably more than
with unfarness, take Mr.. Parker's own slate
ment. How shall We account fvr this enor-
NOUS but lawless increase OF the public debt
The amount is startling. and fills US with con-
sternation. What can we say, what snail we
do, In view of the facts, as they are admitted
to be? How was 1t done? l will give you the
explanation that has been given TOR
Parker gave to the public an official
statement of the debt of the State, at the close
of the fiscal year of 1871. In that statement
discover the deep aud damning explanation.
so far as 1t goes. The Legislature, on the 2Sd
of March, 1869, passed an act to provide foi
the conversion of State securities. This act
provided that the State treasurer should be
authorized, on the application of any person
holding stock or bonds of the State, to take
the same and issue In place thereof bonds OF
the State This act was intended simply for
the accommodation of those who held one
class of State securities and desired to change
them into another class of State securities. 1t
was never intended by the act, and no such
intention appears upon It's face, to Increase the
State debt. But In Mr.. Parker's statement,
before referred to, 1t appears that there has
been an Issue, under The provisions OF this act,
of seven millions one hundred and ninety-one
Thousand seven hundred t7,l9l, ,700) dollars.
In the name Of heaven, why is this? Has he
converted the stock and bonds of the State to
this amount? No. By his own official reports
to the General Assembly, be shows that ne has
converted less than two millions of the stocks
aud bonds of the State under the provisions of
thiS act.
WHERE THE BLAME BELONGS.
Thus 1t appears that there are now afoat
upon the market, and probably in the hands
OF innocent holders, without law, and without
authority of any kind In their original issue,
ut least five millions of dollars in conversion
bonds. Who OF our State officers are respon-
sIble for this? First and foremost among
them are certainly Robert K. Scott. Governor;
N G. Parker, State treasurer, and D. e. Cham
berlaln, attorney-general, who constitute the
financial board. TO which must be added, after
the lst of February, 1869, 7. l.. Neagle, comp
troller-general.
He next spoke of the attempt of the 1ran
cial board to cover up their guilt by the pas