The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-10-24

Piioo, stHu, 1aYYu, NSS-, SSsiSSsaSu.Ai
implemahts, &c: sit will develop the re-
sources Of q rioh.minerdl region, lead to
thas establishment Of -manufautories
along it's route, promote other internal
improvements. aud bripg US men, money
and enterprise. It's Importance can
hardly be exaggerated. Charleston, Go:
lumbia and the whole State should ba
warmly concerned for its success.
Republican Opinion About the ConrSr-
sion Bontls.
The idea of recognizing tho convHr-
sion bonds and providing in any degree
for their payment. is evidently distnste-
full to large portion OF the Republican
party in this State. Some OF them have
at last begun to think. and many are
nausested and tired out with the long
saturnalia Of corruption and frand.
The speech of Mr.. Boston. colored
member of tho. Legislature from New.
berry, delivered in Committee of the
Whcs. on Wednesday. is significant OF
serious change in that class of people.
He calls for al honorable scaling OF tho
deb., and in tue discussion maintains IL
toue and sentiment that are q rebuke to
the managers of the little game that il
now on hand. Treating of the scale
proposed of the entire debt. hr says:
''The present proposition is not sutis-
factory, because it IL general, some of
the State debt is not legal; tho courts
aud people think and believe this, aud
they do not mean to puy ono dollar to.
wards liquidating tho $1,000, 900 or
Sc, 900, 900 conversion bonds; no one
doubts that South Carolina has been
imposed upon by certain amount Of
this debt, which is illegal, nnd which
she ought not to pay; those bonds arc
! out without being duly changed by law.
AL ncquicscod in tue cry to throw out
this portion Of the public debt. Hehod
seen in q circular, recently issued re-
garding the State finances, where tho
former Treasurer had said the money
| raised by these bonds was raised for the
benefit OF the State; he would like to
ask what year it was 5000, 600 were np-
piled and spent in the benefit Of State
affairs; it was in 1871; this was the year
when schools were closed and judges
threatened to resign because they could
not get their pay. and members of the
Legislature wero compelled to go home
without their pay; this was tho year
when these gigantic schemes were going
on, and deficiencies now exist for that
very same year; the plea that because
the Financial Agent OF the State con-
tractca these debts the State must pay
them. will not do; the moment that the
Financial Agent went outside the special
Act authorizing these bonds. the whole
became nullity. He would like to
know Of member who could con.
scientiously stand up aud Hny the State
ought to pay SG.000,090 of bonds not
properly issued; it wonld not do ia take
bonds up at random and scale them,
whether legnl or Illegal"
He called upon his own ruce to con-
slider we'll before taking my steps III
this important movement. They have
allowed themselves to bc too easily in.
huenced. Tho project is against the
people and the whole interests Of South
Carolina.
From another quarter, the Grsenviiic
Republican. we hear voice of similar
import. Treating CT the extra session
and the principal measure before it, il,
says:
"The plain tr,;th, well known, is thut
there has been most Infamous nbuse
OF authority cn the part Of Certain
officials III franlulently er-issuing
bonds in addition to extra ragan. issues
which "ere authorized. II is claimed
tlnt the parties responsible wero Of the
last and not of the present a,ministra
tion. 1t is not now our purpose to in
quire who is responsible, &c. But
| much us muy bo we'll said about tho
injustice and folly of this policy, &. g.,
thut os the Denocrats,) it will not con
ceal from the great body of the R"pub-
lean voters the truth that lnrgo part
of this debt is basc and hideous fraud.
saddled upon them aud their children
by tho dirty cupidity Of few of their
falthless leaders-men whom they raised
from obscurity to high official liouors,
Dnt who were not content except to
reVel IN luxury and hoard fortunes at
the expense of tho honest sweat of The
| unfortunate and dowh-trolldeu people
who aleyated them -