The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1873-05-01
The Public Debt of South Carolina.

This subject has been worn threadbare in the
last few years, and the neglect of the Legisa-
ture to provide for the payment of interest
upon the bonded debt, together with the ac-
quiescence of all parties in this arrangement,
has allowed the public generally slight
breathing spell upon the all-absorbing topic
But recent correspondence between certain
parties awakens fresh interest, and the time
seems propitious for important action in regard
to the heavy indebtedness of South Carolina,
especially that portion incurred during scotts
administration, when it Uas fearfully and fraud
ulently increased to an extent almost lncredi-
BILE. We will endeavor to present the points OF
this correspondence briefly.
Morton, Bliss & Co., of New York, recently
made demand upon the Comptroller General
to levy tax for the payment of5interest on
certain South Carolina bonds owned by that
firm. These bonds aggregate between forty and
fifty thousand dollars and belong 70 five classes,
viz: Bonds issued for the redemption of the
bills receivable; for the payment of interestjon
the public debt; for the relief of the Treasury;
for the Land Commission in 1869 and 1870
all of them issued under authority of the Re-
publican administration. In answer to this
demand, the Comptroller General refused to
order the levy of tax for that purpose, aud
insisted that the platform upon which he was
elected pledged his party not to levy tax for
the payment of interest on the public debt IN
till the Courts had determined what class and
portion of the outstanding bonds of the State
are legal and valid Following this refusal of
the Comptroller General, an additional de-
mand was made for a tax levy, for the same
purpose, to be made on or before November
next, in connection with the levy for general
purposes, which demand was likewise refused.
The object of these demands is to obtain a
distinct and formal refusal, in order to lay the
foundation for legal proceedings, With a view
to compel the Comptroller General to make the
levy. The parties will make application to
the Supreme Court at once, and this vexed
question of the public debt will Undergo legal
investigation, it is hoped and believed. Attor-
ney General Melton and CD, Mellon, Esq,
will represent the Comptroller General, and
Hons. D. b. Chamberlain and y 7. Carroll
will appear for the applicants. lsoe
We concur with the view already expressed
that the taxpayers, who are most deeply inter-
ested in these proceedings, should be directly
represented by the ablest counsel in, the State,
and whatever measures are taken for this pur-
pose we shall heartily endorse. The counsel
for the administration cannot object to assis-
tance voluntarily rendered by the taxpayers,
and we are hopeful that the prosecution of q
vigorous inquiry into this matter will reveal
much that is now hidden and obscure, in re-
gard to the outrageous increase of the bonde7 /
debt during Scott's administration 1t is
chapter in our history that needs thorough
ventilation, and the mere pretence of fight in
the Courts, resulting in compliance with the
demands of the bondholders, without any
satisfactory determination of theV legal and
valid Indebtedness of the State, wiz assnredly
rebound with treble force upon the present
administration. Unless thorough investiga-
ton is obtained, and the fraudulent issues
stamped with the seal of legal condemnation,
the people will resist the payment oflnterest.
Without distinction of party, the CRY of repu-
diation will sweep over the State, and the
present State government be covered with
greater ignominy than its immediate predeces-
sor.