Port Royal commercial and Beaufort County Republican. [volume] (Port Royal, S.C.) 1873-1874, 1873-10-23

the wheel to aid this first venture.
EDITORIAL CORRESPONDENCE.
The Meeting ofthe Clans-MOney strin'
gency-A Scaly process not for kimp'
ton-He demands his bond-The float.
ing debt-A New office.
COLUMBIA, S. c., Oct. II.
The near approach Of the extra session
of the legislature makes it lively in Co.
lumbia; members are arriving in large
numbers in that general state Of anxiety
that renders it an ungenerous act to
make any further reference to it. 1t is,
however, an uncertain thing to speculate
upon, as to where the ''rhino" is to come
from to relieve any one that it is ex-
pected from some source, there is no
room for doubt.
THE BEBT QUESTION.
The subject of relief for the bond-hold-
ers of all denominations, which has en-
crossed public attention, as well as that
of the members and their friends, who
have it under special consideration.
What is best to do is very knotty ques-
.tion. That branch of it referring to the
Morton, Bliss, & Co. bonds, and the ac-
ton of the supreme court, is at the front,
but there are many contingencies some
of which bid fair to prove extremely
troublesome; among these latter, there
is none so important as the-what may be
called, kicking in the traces of an assocl-
ate justice of the supreme court, regard
ing the scheme to scale the debt, on the
ground that the So, $40, ,000.-the origi-
nal issue, and the accumulated three
years interest, of the bonds embraced in
the meshes of the Morton, Bliss, & Co.
suit, must be paid in full, it being under
stood to be held that the decision in the
mandamus case answered every doubt
that could possibly arise in regard to the
bonds brought before the court. A seal
ing bill has already been prepared by
one of the ablest lawyers in this state,
and, it is evident every available neans
will be used to put the bill through;
rooms for the friends of the bill, and the
usual hangers-on, are being arranged in
Parker's new block, near the state house,
which, by the way, has already been Sc
lncted by several legislative officers and
subordinates for an abiding place. The
greater difficulty be surmounted by the
managers of the bill, is the lack of ready
money. 1t is conceded that kimpton,
the cherubic, has the inside track. Past
experience in the promising business has
caused increased caution, and a dislrust
of the ability of some of the men most
prominent in managing the bill to COM
ply with the terms of any future agree
ment, they are now so anxious to enter
into. For this reaso there is nOticea-
bic hesitancy on the part of some people
who might perhaps otherwise be advo'
Gates of the measure In short, it has
got out to the world, that any scrip that
might be issued for services to be rem
dere with the understanding that it
could be converted into bonds, and there
by made to realize, has not the strength
required. The margin on the bonds
that have come directly or indirectly un-
der the control of Kimpton and his CO.
horts, works in this instance most Sc
riouS, if not a fatal injury to the scalers.
Then, there Is another harnacle at
taching itself to the foregoing pillar, in
the shape of desire to first clear up the
floating Indebtedness, which, exclusive
of the B ue Ridge scrip, amount to lit
tie over 81, 100000, $5OO,OOO being in
old pay certificates. The general import
of the conversation of members, is favor
able to this last measure. 1t is quite
natural that they should favor it, for not
a few of them have carried the paper as
long as they can afford to. There are a
number of other reasons set forth why
the floating debt should be first attended
to; among them one that the same is, SO
to term it, domestic debt, held entirely
in the state, and that the settlement OF
it would work a great benefit to all
classes. Another reason is, that there
would be a kind Of clearing up of the un-
certainty now hanging about it, which
would be advantageous to the bond-hold-
ers in the end. The advocates OF the
policy of postponing any action on the
bonded debt, until the floating indebt-
edness is paid is glowing in number