The sun., 1873-08-23

The catpct-haggers and scamwags who
have possession ot the Government OF
south Carolina are IN II quan'iafy The
suit brought 10y MoRToN, Bliss Go. To-
compel the collection of taxes Tor the pay
mcut OF certain bondS-among which are
some whose validity is disputcd-has
brought the State authorities TO u point
where they are obliged 10 face the question
of reputation.
Since reconstruction the Governmc cnt of
South Carolina has been in the hands of
most uuscrupulous set Of plundercrs who.
rendered confident by the undertaking
support OF the national Administration,
have dehed all restraints Of honesty or de-
ccucy in their eNactions. Before the war
the taxanlc property OF the state was
valued at AS .3l9.l2S and the average tax
alton was about s4oC,0O0 annually. In $50
the valuation of taxable property had
fallen to SlS39l3,jl7, and the depreciation
il still greater now; but the annual tax
alton has be, u increased to over t2,O0O0O0,
while the state debt has swollen from
80. an. 900 to S16.OOO,O0O for which the peo-
plc have received no substantial benefit.
OF this debt Of Sl6.OOooOO the present
state authorities admit thatat least 900
Ocu was fuudulcutly and illegally r"u-
tractcd; and the taxpayers insist that ihr
bonds representing this portion of th" DEBT
are Invalid and worthless. A. TO the bonds
| of the state ia existence before the war,
nobody doubts their legality, aud the tax
payers have never objected To- their pay
m,nt The consequence is that these bonds
I M rs
tAa 't tp,HS'Ii@. ,' ~ 5ih sd5aih hi' c1rolna. i'm
/ povcrishcd by the robherics of the GRAN1
/ Republican officials, find il simply impos-
/ Siblc To- pay the Who'll" state debt, legal and
/ Illegal. with it, long arrears of interest,
and the authorities do not dare TO iusis {
/ upon their doing So. But the propos ton
/ 10 contest the validity of the fIludui ieut
/ bonds, made by organized bodies of tax
| payers, does not meet with the approba-
/ tion Of the rascal, in power, since an in
/ v,~tigatiou into the circuustan' e. Of their
/ issue would disclose an amount uf villaiuy
which might prove injurious tu their part y
aud it, hackers IN Washington. :" they
propu.r to scale the cutirr debt. good and
bad, To- about sS,pn,nW, thus puttin- all
houdhoIdcr> ON the same footing.
This would be a very nice arrluc ,mcut
In some respects. rho state authoTtie
would escape u dreaded exposure; one
half of the debt would he wiped out at cX
istcucc; holders of the fraudulent huud
might expect to ret their money land II,
question, asked;' aud bonds which ar,
now ling 1T II aud those winch AZ,
selling at - would at once he eIunlilrd
in value. This would afford an excellent
opportunity for those in the Columbia
Ring who have facilities for obtaining
early information t. indulge in some eX
cc"dingly profitable spcculutious.
What measures will finally Ice taken re
mains to be seen. The most influential
property holders are in favor of loppina
of the fraudulent debt and making pro
vision for paying principal aud interest ot
all boud, legitlmatcly issued. But 50 lonl
as the state remains under the control u
the GRANT party it Is doubtful if the credi
tors of the state win be able 10 gct cithcl
principal or interest on their sccurtic,
for the stealings are likely to abso rh al
the revenues that can bc collected from
the impoverished citizens.