The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1872-03-14
The VALIDATING Act.

lation, ostensibly eoncocted by the remarkable
Legislature now in session, none will compare
with the bill to validate all issues of bonds
heretofore made in the name of the State of
South Carolina. As we understand the sub
ject, this bill proposes to make good and lawful
the entire amount of bonds heretofore issued,
and estimated as nearly s16,000OOO. This is
done without reference to the legality of issues
made within the past three or four years. and
in regard to which the gravest doubts exist in
the minds not only of the taxpayers of South
Carolina, but dealers in bonds elsewhere; and
it has been openly charged by Radical men,
bers of the present Legislature that there has
been an over-issue of bonds to the extent of
$4,000, 900 or more. In the face of these doubts
and charges, it is now attempted to stamp the
seal of efficacy and legitimacy upon every bond
so issued, and thus deprive the Courts from
settling question which properly belongs to
their jurisdiction. We put aside the question
of fraudulent issues, for the sake of argument,
and would seriously object to the passage of
such measure on the ground that the author
titles of this State have issued more bonds than
is contemplated by the several Acts of the
General Assembly, although the written opin-
ion of Attorney General Chamberlain was their
justification for such issue. That is to say, we
are aware that the Financial Board defend
their action in the premises by declaring that
it was the opinion Of the Attorney General, in
contemplation of the Acts under which the
Board caused the several issues of bonds to be
made, that they had legal right to issue
sufficient number of bonds to realize the amount
of money specified in the Acts aforesaid. Un-
der these circumstances, then, as it was judi
cial question, and properly belonging to the
Courts for adjudication, there was no occasion
for an Act to endorse the action of the Finan-
cial Board, but that rather it was imperatively
necessary to bring the question before Court
of competent jurisdiction, when the Attorney
General and the Financial Board might have
been declared to be right, or else their action
pronounced wrong. We think it clear that
Attorney General Chamberlain is responsible
for the action of the Financial Board, so-far as
bonds were issued in the manner above indica-
ted. His astuteness and ability ought to have
prevented hasty and ill-considered legislation,
in the first place, and his keen perception ought
to have foreseen the evil results of such opin-
ions as the Financial Board has indicated were
given them, and upon which they predicated
their action, and added millions to the public
debt. The open, fair and honest view of the
subject is, that the Attorney General, foreseeing
the effect and legitimate results Of his opinion
that the Legislature authorized the raising of
so much money, and not the issuing Of so many
bonds, was in duty bound to protect the highest
interests of the State by advising against any
further issue, until this careless legislation
might be perfected and the consequent evils
averted. We repeat that this is the plain, hon
est view; and although it may be alleged that
Mr. Chamberlain is liable to err, being merely
human after all, we think it will hardly be said
that he was not cognizant of the disastrous
effect upon our State finances when he gave the
Financial Board TO understand that the law
did not limit their issue of bonds, and they
were only restricted by the number required to
to make up the specified sum in dollars. 1t
was too great temptation to the Financial
Board, of which he was member likewise, and
it would have been we'll if he had reflected that
the Others were 10 less human than himself
1t cannot be doubted that the responsibility for
the action of the Financial Board belongs to
Mr. Chamberlain alone, for the other members
openly confess to an implicit reliance upon his
guidance and opinions
But the Legislature, in its wisdom, attempts
to set things right by enacting bill Of the
purport above mentioned. 1t is conceived that
this will make good all previous issues of bonds,
whether or not any of the bonds were wrong
fully or fraudulently issued. It is modestly
styled "a bill relating to the bonds of the State
of South Carolina" In the House, on Wednes-
day night last, this bill was taken up from the
table, where it had been conveniently placed,
we suppose, to await an opportune moment for
its consideration, which would be only long
enough prior to the adjournment to effect its
passage through both Houses. Mr.. Dennis, of
upholstery fame, Immediately called the pre-
vious question on the entire bill, and the call
was sustained, thereby preventing any discus
sion of its merits or exposure of the infamous
intentions of its authors. Enough members
had doubtless been secured, in the usual man
ner, to insure the speedy run of the gauntlet it
was destined to encounter. A gallant minority,
including many Republican members, made
such resistance to the measure as it was posi-
BILE under the operation of the previous ques-
tion, and called the yeas and nays upon every
section. But their efforts were futile, as might
be supposed, except that they placed on record
their votes against the bill, and in the end
manfully protested against this new and crown