Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1874-05-14
sonth Carolina gaw5,

AN ACT
TO reduce the volume of the public debt, and pro-
vide for the payment Of the same.
Be it enacted by the Senate and House of
Representatives of the State of South Carroll
na, now met and sitting in General Assembly,
and by the authority Of the same:
Sec. l. That the State treasurer is hereby
authorized and required to receive from the
holders, willing to surrender the same, all the
certificates of stock issued under act of 1894,
and redcemable at pleasure amounting to
thirty eight thousand eight hundred and thir-
ty-siX and siXty-one hundredth dollars 1888,
S36.6l y the certificate Of stock issued under
act of June l, 1888, redeemable in 1870,
amounting to three hundred and three thous-
and three hundred and forty three eighty-nine
onehuudredth dollars (s303, ,343.89 J the cer-
tifcates of stock issued under act of Decem.
ber 20, 1856, redeemable in 1877, amounting
to one hundred and eighty.nine thousand
three hundred and eighty-fve and eighty one
hundredth dollars (slS9,3S5.S0;) the certif-
Gates Of stock issued under act of December
81, 1857, redeemable in 1883, amounting to
one hundred and twenty.one thousand and
fifty-one and thirty.seven-h dollars
(s12l ,051 81 J the certificates Of stock issued
under act Of December 81, 1858, one hundred
and 6fty.six thousand seven hundred and
twenty dollars (sl56,72O) of which redeema-
bic in 1888, and one hundred and forty. live
thousand nine hundred and ninety dollars
(sl45,990) in 1885; the certificates Of stock
issued under act Of December %, 1859, sew
enty-6ve thousand seven hundred and forty
six and twenty-four onehundredth dollars
(s75, ,74624) of which redeemable in 1887,
and one hundred and thirty-nine thousand
four hundred and thirty dollars $3.50 ,43O) in
1889 the certificates of stock issued under
act of January %, 1861, fify-seven thousand
eight hundred and ninety dollars (S57 ,S90)
of which redeemable in 1882, and sixty-fve
thousand four hundred and fifteen dollars
(s65,415) in 1886; the certificates of stock is.
sued under act of February, 1863, redeema-
BILE in 1890, amounting to one thousand five
hundred and sixty dollars (s1, $50 J the GER
tihcates of stock issued under act of Septem-
Der and December, 1866, redeemable in 1887,
amounting to seventy-nine thousand four hun.
dred and thirteen and ninety-four hundreth
dollars (s70, ,41S94 } the certificates of stock
issued under act of March %, 1869, redeema-
able in 1885, amounting to sixty-four thous,
and dollars (s64,00O J the bonds of the State
issued under act of June l, 1888, redeemable
in 1868, amounting to four hundred and
eighty.one thousand nine hundred and forty,
four and fifty-one one-hundredth dollars
(S4S1 ,944.51 } the bonds of the State issued
under act of December, 1858, redeemable in
1871, amounting to thirty-eght thousand dol
lars $685. 900 J the bonds of the State issued
under act Of December, 1855, redeemable in
1881, amounting to two hundred and forty
nine thousand dollars (s249, ,0OO;) the bonds
of the State issued under act of December,
1854, two hundred thousand dollars ($2O0,-
000) Of which redeemablc in 1875, one hun
dred and ninety.eight thousand dollars $685.
000) in 1876, two hundred thousand dollars
(S200,00O in 1877, two hundred thousand
dollars s2O0,0OW in 1878, and one hundred
and sixty-eight thousand dollars ($168,000)
in 1879; the bonds of the State issued under
act of December, 1866, redeemable in 1885,
amounting to eleven thousand six hundred
dollars (s11,600) } the bonds issued under
acts Of September and December, 1866, four
hundred and sixty.6ve thousand four hun.
dred dollars (S465 ,400) Of which redeemable
in 1887, aud four hundred and sixty-four
thousand eight hundred dollars (s464, 4,S00) in
1897; the bonds Of the State issued, act OF
August 26, 1868, redeemable in 1883, amount.
ting to eleven hundred and ninety.seven thous.
and dollars, (s1,19700O3 the bonds issued
under the act of August 26, redeemable in
1883, amounting to four hundred and eighty.
four thousand dollars (s4S4,OOO; J the bonds
issued under the act of September 18th, 1863
redeemablei in 1885, amounting to eleven hun.
dred and eighty-nine thousand six hundred
dollars Isl, ,189 900 } the bonds issued under
act Of February II, 1869, redeemable in
1888, amounting to eight hundred and fifty
six thousand dollars (SS56,OOO y. the bonds
issued under act of March 27, 1859, redeema.
BILE in 1888, amounting to one hundred and
twerty-four thousand dollars (s124 900 J the
bonds issued under act of March l, 1870, re,
deemable in 1883, amounting to three hun
dred and forty-three thousand dollars $685.
900 } the bonds issued under act of March
%, 1859, redeemable in 1888, for the purpose
Of exchange of any of the certificates Of stock
or bonds above enumerated, said fact being
ascertainable from the treasurer's registry of
bonds and stocks converted, amounting to
one million five hundred and seventy-seven
thousand five hundred dollars 1877 7,500,)
and shall thereupon, in exchange for, and in
lieu Of said bonds and stocks so surrendered,
issue to said holders other bonds or certif-
Gates of stock as they may desire, equal in
amount to fifty per centum of the face value
of the bonds or certificates of stock so surren.
dered and that the bonds known as the con-
version bonds amounting to s5,965,000, and
which were put upon the market without any
authority of law, be and the same are hereby
declared to be absolutely null and void.
Sec. 9. That the State treasurer is hereby
authorized and required to receive from the
holders willing to surrender them, all the cou-
pons upon the bonds before mentioned which
have accrued, or will accrue on the 1st of
January, 1874, and the interest orders upon
the interest due upon certificates of stock as
aforesaid, to the date aforesaid and shall,
thereupon, in exchange for and in lieu of said
coupons or interest orders so surrendered, is
sue to said holders bonds or certificates of
stock, as they may desire, equal in amount to
fifty per centum of the face value of the
coupons or interest orders so surrendered.
Sec. 8. That the bonds and certificates of
stock herein authorized to be issued shall bear
upon their face the words "consolidation
bonds" Certificates of stock" and shall also
bear upon their face the declaration that the
payment of the interest and the redemption
of the principal is secured by the levy of an
annual tax Of two (2) mills upon the dollar
of the entire taxable property of the State,
which declaration shall be considered con-
tract entered into between the State and every
holder of said bonds and stocks: Provided,