The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1873-01-14

OF the scrip have been 80 able, 80 full, so
clear, and 30 conclusive, and the court have
listened with 30 much apparent satisfaction
and appreciation, and ruled with ouch i'm!
partiality, except, perhaps, in the matter Of
allowing testimony demanded by-Att0rney+
General Melton,) ths. iihe universal opinion
Of every disiEs:sfested person who has heard
>iI6e 4 arguments is that the scrip does not
stand the ghost OF chance.
On Saturday holder Of the scrip, and
who is party to the suit, said to oorres-
pondent OF TEE NEWS that his eyes had been
considerably opened since the arguments In
the case. ''Oi course" said he, '1f there is
''any merit in the case and money Is due
'.me by the State for my scrip which I have
'.recelved In the way OF business, and not
tior speculation, nor with a view to grind
ssdown the taxpayers, I want 1t. But If it is
"a swlndle, and the State has received no
reconsideration, as appears to me now to be
ssthe case, would far rather lose what
"money have In it tnan be party to i'm
''posing an unjust burden upon my fellow
"citisens already over-taxedl"
Both the speeches OF Saturday-those OF
Attorney General Melton and Mr G. G.
Memminger-were pronounced on all hands
to be mastery efforts, and to completely
exhaust the question. The points made
against the validity OF the scrip are in brief:
/. That the scrip is bill Of credit within
the meaning Of the Constitution Of the
United States, because sit is issued by the
estate, upon the credit OF the State, and Is
s'designed to serve, and would serve, the
''ordinary purposes OF money"
2. That 1t violates the Constitution OF the
State, which expressly provides that every
public debt shall be created by way Of loan
on bonds OF denominations not less than
fifty dollars.
8. That there has been no consideration
euurlng to the State, inasmuch as the bonds
OF the Blue Ridge Railroad Company, to re-
lievs the State from her liability upon
which the scrip was nominally issued, we're
never liability upon the State, the condI-
tions upon which the State granted her en-
dorsement not having been performed.
This matter OF the on-perlormance OF
the conditions by the Blue Ridge Railroad
Company forms the whole gst Of the argu.
ment, 80 far as the moral obligation of the
State to indemnify the scrip.holdsrs, which
is the burden OF their song, is concerned.
''The scrip may be Illegal" they say. 1t
may shave been issued In violation OF the
'Constltutions OF the State and Of the United
estates. Still we are bona tide holders for
"valuable consideration, and under faith OF
''an act OF the Assembly Of the State, and
''ought not therefore in equity to be al
sfowed to suffer." 1t was right here that
the refusal OF the Supreme Court to hear tes-
timony bore particularly hard.
Up to the act OF 1871, entitled an act to
promote the consolidation OF the Greenville
and Columbia and the Blue Ridge Railroads,
1t was impossible to negotiate the guaranteed
bonds, except at par. Such was the re-.
striction the State had placed on its endorse
ment. The consolidation act repealed the
condition. But the consolidation OF the
two roads was never effected, and there
fore, as has been ably argued in the court,
this particular sct is null and void. But
aside from this it was the purpose OF Attor.