The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-10-22

Tho total bnlhnce outstanding is $1,000.
6l3.9d, us follows:
s"na. ni. n.i"r"E ,,.r,"x IT, IT, 1857 s!ss4oo @
Stock 'na,nring In 1887 7V4l8 o{
Total. ............... tlUU3oI8 "a
Tllese two acts authorized the funding OF
the interest duo upon the outstanding bonds
and stocks to tho ist July 1867 amounting to
S969, ,O96.44 aud also tile funding of il,c
principal OF the bonds Of 1859, to aid the Blue
Ridge Railroad. due in $685. amounting To
1910, 900 nIso bnlnncc Of certain stock.
amounting to $3,705.4G, making a ,olal
amount findnble of Sl.2S2, sol 80: total
funded, Si,lGG, 287.35: balance not vet
funded, $llG,5l4.56 additional amounts paid
in by parties to nuke even sums of SlO0. or
$50, $534.l7: less frnctiolml amounts relin-
qulahed by stockholders, $298 09 Lnlance
hInd"ble $llG.7al.63.
The bonds originally issued under the act
OF August 2G, 1868, 10 redeem the obligations
Known a the billa receivable Of the State,
amount to S5u0.00U. These bills were iss,,ptl
under an aot "i December. 1865 Tho amount
redccmnblo under the net OF j 1868, was $500
QUO. Of this sum $29s, 702 were redeemed by
e1'Trena'irer Parker, and 1882 have been ro.
deemed by the present troasuror, ns cash on
account OF taxea tllero il, therefore, u balance
outstanding OF $l.2lG
1t apl'car1, by the reports OF the financial
agent, TINT those bonds were sold for
10 cents OH the dollar rcaliziug $3.50, OoO
The total amount Of bills redeemed hy the pre-.
vious administration WAS, as before stated
$29S. 7O2; there ought, therefore, to have
been balance of cash to tho credit of this
account OIL tho 30th Of November, 1872. of
$5l,29S.
In comparing the aggregate receipts and e1.
M nIlstI ,irl1 1....t
amount is accounted for in the expenditure for
general purposes. still found it impossible to
ascertain the object of expenditure 10
which il WAS actually applied
Under the net of August 20. 1868. TO NIL
thor'zo lonn 10 pny interest upon the public
debt, the American Bunk Note Company
printed S2,O00.0 900 in two issues. The first
i'suo amounted to $l,0O0,0O0. On account of
some alleged omission they wcro not cousid.
crod ns salenblc us were other bonds OF the
Stntc. II was, therefore, determined to pre-.
pare second issue Of Sl,ooO.O0 and
to retro aud cnnccl the first issue. or
said ss," 100000 were retired and dc.
"royed by burning, as appears by tho
certificate OF five Of the officers of the exc
cuiivc department.; S50, 900 werc can.
colled and arc OH file in the treasury; S45U,-
600 were never retired. and therefore exist MS
tho second issue WIS also negotiated. Tic
total debt created under this net then amounts
to Sl.i5o.00O. or this amount S253, 900 have
hecn cancelled and conversion bonds issued
in lieu, and 81, l97 900 are outstanding in their
originnl form
In order TO ascertain what proportion ,of
this debt is cl,argenbe to the nnle.rtconstruc-
ton administration, tho following Inquiries
should he made:
LIST. The whole period in months from tie
date tho interest was last funded to the date
to which tho interest was payable under this
act, from tho proceeds Of the salo OF these
bonds.
md What proportion of this period no.
lnnged to tho ante reconstruction period, a.!
what proportion to tho reconstruction
period.
Tho language Of the act s rather ambiyu.
ous, but taken in connection with the recon-
OF Governor Scott, IN his first mcs-
sage which recommendation it was Tho owl
dent intention OF the Legislature to adopt, it
np!e"rs TINT tho proceeds from The snlc OF
thcso bonds wore To be applied to tho pay
mcnt of interest oil the public debt acor,ling
from tho lst July, l3d7, to LIT July, 1864, II
period of twonty-four months Tho interest
uccruing from July, 1867, to August, 1863, a