The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-09-20

Eton--reoaipts 12I bales; weekly net re-.
oeipts 378; gross ,895; exports TO Great
NonFobK, September 19..-.Cottoli-
net receipts 277 bales; exports coastwise
220; stock 587; weekly net receipts
l,643; exports coasiwiso 1,290; ssles
100.
The BOND RING AND TIE LEa1snA.
TuRE.-The Charleston News says:
That ring or syndicate has been
formed by u number of New York specu.
lators aud some of the leading Radical
officials Of this State, with d view oi
carrying out unother corrupt scheme TO
fleece this tax-ridden people. seems now
quite apparent. There have been ru-
mors that something of the kind was
| going on for many months past, and, as
time has rolled on, the indications,
rather vague and nebulous at first, have
grown clearer and clearer. We had, as
perhaps the first circumstance that gave
good ground for suspicion, the mybteri.
Gus disappearance, at the close of the
last session of the Legislature, Of the
Act to repeal the existing law by which
it is made the duty of the Comptroller.
General to give notice Of the rate per
centum OF taxes on or before the 18th
OF November. The actual stealing Of
an original Act Of the Legislature is
high handed and unprecedented out
rage; but It was absolutely necessary to
the scheme of the ring that it should be
done, and it was done. There could
have been no color of excuse for the re.
cent nandamus, had that Act become
law as the Legislature intended.
The next move by the ring was the
petition for mandamus to compel the
Comptroller to levy the tax to pay the
interest due and to become due upon the
i've classes of bonds to which tbs opera
tions of the ring have seemingly been
confined. The petition was granted,
and the Comptroller commanded to
Issue the order as prayed for. Right
here 1t may be as we'll to remark that,
although III the body of the opinion the
impression ls conveyed that only tux
sufficient to meet the interest upon the
i've bonds specially set forth in the pc
tition is contemplated, yet the order Of
the court is in fur more general terms,
the form rs prayed for ia the several Pc
1 titions. The prayer of the petitioner is
that the Comptroller shoald be CON-
PEELED to order levy covering the in
terest upon all of tho bonds Of the five
several classes named, so that out Of
the general amount the petitioners
might receive what Interest may be due
upon their particular bonds. Next We
tue decision in the case of the South
Carolina Society, by which the courts
are shorn of all power Of interference to
stny or prevent the collection of any
tax which may be imposed, however un-
just, unrighteous or illegal it may be.
The ring have been very adroit, and
have managed with great success up to
this point. There Is only one power
left for them to fight. which is the
General Assembly. That body can de-.
feat, or not, the .chemes OF the bond
ring, as it chooses. The ring is doubt
less relying upon buying ur the Gene
raj Assembly, as has been frequently
done in the last four years. Thsre is
probably due and to become due by the
1st of October next, interest upon the
So, 500, 900 OF bonds embraced in the
pool, amounting to about 500, 600.
The ring can we'll afford to expend
SlUO, 900 or more Of this interest in Sc
curing the desired Legislation. The ex-
pendlture, moreover, can be made with
out any risk to the ring, by making the
payment in the coupons of the bonds
themselves, to be redeemed when the
tax is collected. Tne Legislature will
bo peculiarly susceptible to bribery, be-
cause the Treasury will be absolutely
bare Of funds until the taxes begin to
come in, about the 1st of December.
Everything so far seems favorable to the
designs of the ring.
The course OF the Legislature will be
anxiously watched by the people, and
as each membe. nets so shall he be ap.
plauded or condemned. If that body
has M honest desire to defeat the ring
and to protect the people, the first act
done Will be TO repeal the law prevent
lug the interference Of The courts in
eases of unlawful tnxation; the second
will be 10 revive Immediately tho Act
which WIS s:olen last winter, and which
deprived the Comptr9Iler OF ali power in
the levying OF taxes. The party stands
pledged to suspend the payment OF i'll
terest upon all bonds rs to the legality
OF which there Is the least question. LII
this category mus. be placed every bend
upon which the ring based their petit
| LInp fnr man, frh, ra,,r,cnnt,