The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-12-19
S. e.
Friiay Morning, December ID, 1873.
Legislative.


Legislative.
In the Senate, yesterday, the House
bill to reduce the volume of the public
debt and to provide for its payment,
came up as special order at 1890. It
had been repeatedly postponed, and on
Wednesday, resolution was passed to
bring in with it on Thursday yesterday
the amendments which it was proposed
to offer to1it. Accordingly, the seven
pages of bill we're accompanied by
twelve pages of amendments by = Mr..
WhisteDore. md three by Mr.. Jervey.
As it came from the House. it proposed
to scale the debt at forty cents in the
dollar. The Senate committee recon.
mended that fifty cents be substituted
in the place of forty cents. wherever
the words occur. This was agreed to.
Whittemore's amendment to strike out
ell after the word SURRENDERED" on
line 63 Of Section l, WIS next adopted.
This disposed Of the stigma put upon
the conversion bonds IN the House bill.
that they were issued without any
authority. Of law, and absolutely null
and void. NJ reason was assigned Why
the paragraph was struck out. but We
suppose that it was to erase this blot,
and to leave the door open for the re.
turn of these so-called bonds ut some
more favorable time. Mr.. Whittemore
next offered an amendment to strike out
Section OF the bill. and insert the fol.
lowing ns substitute:
''SRo. 3. That the State Treasurer ia
hereby authorized and instructed to re-
ceive from the holders willing to sur.
render the same all the notes issued by
the Treasurer Of the State, under the
IL, 1874 entitled Joint resolution to
provide for the payment OF certificates
issued by the General Assembly, and
the certificates issued by the President
of the Senate and the Speaker Of th q
House OF Representatives, or jointly by
both of said officers, prior to the close
OF the, regular session, of the General
Assembly in February, 1878. and all
other valid outstanding claims against,
or obligatiohs OF, the State, arising or
proven between July 6, 1869, and March
l, 1873. which have NOT. at the extra
and regular. sessions of the General As.
sembly of 1874, been otherwise pro-
vided for;,Rpd e,shall thereupon, in
exchange, for and in lien of said notes,
certificates and other claims or obliga-
tions Of the State, issue to the holders
thereof. ns they may desire, an amount
OF bonds. Or stocks, auth orized under
the provisions of this Act. equal to the
notes. certificates, claims or obligations
OF the State 80 surrendered"
Mr. Whittemore claimed for this
amendment that it effeotually disposed
of the floating debt. This amounted,
be suid, TO about S50O.O 600. Certain
claims had already been provided for,
and we're icludsd in this amount. He
proposed to pay at the rate of 100 cents
in the dollar. Mr.. Duncan, of Spartan.
burg. moved it's indefinite postpone
ment. 1t Was different in character from
the bill. and not prop ,rly german to it.
The claims here described do not consti-
tute part Of The public debt. They
have to be passed on first. to ascertain
whether they are debt or not. It has
been .an invariable rule to put such
claims In the crucble OF examination,
and to require the parties who hold them
to prove them valid. Bonds are differ
ent. They have the seal of the State on
them. They are on the market. There
was regular and necessary course to
pursue as to flouting claims, to ascertain
Whit wero genuine and what not. He
had 20 purpose to oppose them. when
brought forward in the right way and in
their proper place. II they are put
upon the samu footing US the public
debt, it may be construed US coming in
conflict with the provision OF tho Con.
st''n'ion lust adopted by popular vote,
which prohibits any increase in the
debt. Mr. Jeter, OF Union, brie fly
showed TINT under the terms of this
amendment. any kind of claims might
come i'm. Mr.. Duncan's motion, to
postpone indefinitely, was adopted by u
vote Of ayes 20. ays II.