The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-04-22

ing the Columbia water power and builds.
ing cotton mills. He will own the whole
or none. he does not propose either to
inrthordeyelop the water power or erect
milIsat present. This ia the report which
che committee Off citizshs make. No
fttDg, therefore, !can be expected Of Sc.
,nator Sprague, so;far as the one main
and vital subject Ii oonoerned-the build
Ing Of mile and making Columbia the
thriving and important city which We all
wish it 70 become. That is chapter one.
The second chapter is, that Mr. Sprague
is willing to sell the canal. including oil
his rights and franchises, tho real estate
he has purchased here. the new city water
EGrks, and the contract for supplying
the city with water, for the round sum
Of $500, 000. The sub.eom mittee ap-
pointed to obtain his terms, etc made
nm estimate of the value of the real es-
tate, allowing ten per cent interest year
on thercost price for five years. or fifty
per cent. advance. and $40. 600 as the
cost Of the water works; the whole
amounting to $l28.000. This does not
include tho improvements put upon the
canal, or any consideration for the water
privileges aud franchises. What has
bsen expended in improving and enlarg-
ing the canal is not known. Whatever
this expenditure may lave been, how.
ever, the canal Is at present valueless US
a water power, as it barely furnishes
water for the operation of tho water
works and the penitentiary.
Tho canal and the valuable franchises
and privileges of this magnificent water
power may be worth even more than the
$500. 600 asked, but they were given to
Mr.. Sprague for the nominal sum Of
5000 for a certain purpose Thut trans
action was approved by all parties and
classes Of citizens, because the most
solemn pledges were nude by him and
his agent that the water power should be
Immediately developed. and mills put in
operation, which would be great and
asting benefit to this city aud State
Having failed now for i've years to re-
deem that pledge, and stating plainly
that he does not propose to redeem it.
at least for an indefinite period in the
future. tue purposes of tho gift are
thwarted, the Inducements to the gift
disappear and the wGter power in equity,
il not in law, should revert.to tho peo
pie of the State. The citizens, there
fore, are willing to restore to him nll be
has expended, with fair interest; but ~
we interpret public sentiment, tho busi-
ness men of the oity do not see the
Justice of paying him $3.50, 900 for what
was given to him for $20O. This sale or
gift was made to him in 1868, as the
shortest route to the establishment OF q
large manufacturing interest in our
midst But for this. there is no question
but that mills OF large capacity would
now be in successful operation, su great
has been the feeling and the interest on
this subject.
'"There ls but one sentiment on this
matter, and that is, that Senator Sprague,
by all the considerations of justice and
right, as we'll as by the letter and spirit
OF the aale, should either improve the
water power or return it to the citizens
ut cost. They trusted him; they dealt
most generously by him. so long as there
Was any prospect, or even promise, Of
his putting up tue cotton mills; they are
willing to deal genero lsly with him now,
by taking off his hands large, unpro.
ductive and unremunerative property, at
it's full cost to him. with interest. Thie
is fair; this is right Although there in
much OF that property that would be of
no possible value to manufacturing
company, although nearly all the money
spent on the canal IL 30 much waste, il
the lower dam is built, aa it probably
would be, still the citizens, we believe
are willing to combine and form q j,int
stock company. and refund all this mo-
ney to Senator Sprague, and at once be.
gin to lay the foundation of mauufao-
turing interest in this city"