The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1874-08-29

Iuc OIitc. ndu nOC seen MIN nor
communicated with him since leaving
college. He brought his own recon.
mendations, made his own Impressions.
aud was never urged by Inc upon the
other members Of the board. Acting
upon what I regarded us good evidence
of his capacity and character, 1 voted
for him, in common with the other
members Of the boar>l, and that is the
full extent Of my responsibility for his
appointment. That the financial board
acted reasonably in this matter can new
be shown by numerous concentrations
of Mr.. Kimpton's management during
the first three years Of his agency, by
tho highest financial authorities in New
York, as we'll as by the very great sue
cess which he ce:tainly achieved in
many respects during those years l am
not called upon, in thi, conn ,ctor, to
defend the entire transactions OF the
financial agent, but do affirm that the
tlnaucial board were warranted, by good
and sufficient evidence, in the appoint
mcnt of Mr.. Kimpton, and that h,d
no larger share Of influence in his ap,
pointmcnt than each OF the other
members Of that board
Another charge made against me is.
ii,t ,r,
and as Attorney General, am specially
responsible for the issue of what arc
known as the conversion bonds. This
charge seems to rest chiefly on the fact
that | was 4 member Of that board. and
it is, therefore, nccdful to refer to the
constitution aud powers of that board.
The financial board were never
charged with any duty in ,nnectioa
with the issue otbonls Of any kind.
BY the act Of the Gchsral Assembly
to issue bonds to redeem the 'bills
receivable" tie Governor was anth,r.
lied to borrow certain sum Of money.
The bonds were to be signed by the
Governor and cnuntcrsigncd by the
Treasurer, and s.al.d with the sail OF
the State. The only duty place by
this act upon the Attorney General was
to fix, together with the Governor an /
Treasurer, the price at which the b md,
should be sold, and the time for the
redemption Of the "bills receivable. ="
Every bond issue under this act was
signcd by the Governor ami the
Treasurer, and scalel by the Secretary
of State, and the Attorney G encral had
no part or duty iu the issue or exc sutton
Of single bond.
The same is true Of the bond, issu ID
under the act to authorize loan to pay
Interest on the public dabt. BY this
act the sole duty Of the financial board
in connection with the bonds was to fix
the price ut which they should bo sold.
The next act which authorized the
issue of bonds was the ":Act tor the
relief of thu treasury" Under this ac,
the sole duty Of the Attorney G cneral
was i'll conjunction with the Governor,
Comptroller 9 cncra and Trca ,urer. t,
give directions for the use Of the bonds
issued under this act rs collateral sccur
ity, and to fix the price at which they
should be sold.
The "Act for the conversion Of State
securities imposed II, daty an c m
ferrcd no power on any Off; except
the Treasurer, who was charged with
the work of conversion, aud the Cover
nor, who was to sign aud the Treasur
or to coun,ersign the conversion bonds
The four acts now specified are all the
acts under which it is pretended that
the financial board had any powers, or
has exercised any functions
The Attorney General had no duty
or power in the issuin. of onds F.;
neither had the financial board.
Bdt it has been said that I gave an
opinion, as Attorney General, to Mr..
Cardozo, then Secretary of State, in
whi:h | claimed authority for the finan
clal board to issue bonds without limit
AS this alleged opinion has recently
been made the ground for fl king upon
me the "sole responsibility for the issue"