The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-11-22
COLUMBIA, s.. c..
Sun ay Morning. Novsmbsr.22, 1874.
Financial.


EinaHcsal. ya
The financial reports which we have
been able to consult. chow that South
ern State bonds have become consider.
ably more aetiye since the. elections OF
the 81 November. The areports last
Xonday Of stock market operations in
Slew York. stated that Yireinias and
some of the old bonas 'css South Caro-
1ns wore in request at much higher
thsn the rates which prevailed before
:shs eiection. The advance wss from
4 to 5 per. cent. On Tuesday. new
South C..e!ina sizes wsss put al 2i
On Wednesday there was reported
moro than the usual investment and
advance. M;sso1r; sixes were 96L,
cid North Carolina skies 8O@3O1z. On
Thursday Southern bonds were quoted
as active the day before. Old North
Carolinas we're strong, at 3014. closing
5oas bids new being Is to 20. For old
South Carolinas, 80 was bid; new,
January and July issue. being 81 bid,
and April and Ootober the same.
General ai'y. We may say that ihe old
c>snds of South Carolina have been in
good request. at higher prices than
those prevailing before the election,
'and show Improvement from 1 to 8
per cent. i Several oauses may be as
'sigoed for this. Speculation may have
hsa much to do with it. 1t may be
she far off effect.rthe echo. as it we're,
af, tho political revolution which has
swept the country. et
The condition Of South Carolina,
"hlle comparatively hopeless for her
: self, has been! q rsllying CRY in other
States. bringing shame and defeat
apoa the party, which was the author
OF her wrongs. The great Democratic
ssietories which have revived con-
'odence. given an impulse to trade and
manufactures. have also improved
Southern securities, and amongst the
-est put little life into South Oaro.
Ina bonds. That is our compensation
: solar. for our indirect aid in the recent
: AT ctious. There will never. however,
De any satisfactory adjustment OF our
'Sonded debt. until those who have it
20 pay also have it to manage. Bond
holders may rest assured that the. peo.
.2le.. the real people of the State, re-
pudiale oil the temporary ,expedients
20 which spectators and ring manipu-
Gators may resort. for either political
effect or to create for themselves mar
.>gins. commissions or jobs. The people
acknowledge certain amour OF debt,
vhich they are willing and mean to pay
without discount or deduction; bat no
financial or political legerdemain, can
ever reconcile them tc accept as debt,
however dimi3ishod apparently, and
sugar coated. obligations which they
did not really contract, and do not
oVe- They will repndiate' thia whole
slass of claims with the parties who
: '1Asde them without authority or right
20 do so. The mere fact that they
vere incurred by those who we're in
Ofhcial position, will give them no
validity. unless these persous had spe.
esifio authority to act. and kept strictly
'Ertbin It, And besides ell this,
Ie have prayed and demanded
an investigation into our whole
'ooAd basiness, that We might know it's
exact status for the last two or three
years. 1t has has never been ordered.
Ghc debt is uncertain. covered up; it's,
character not known. It must face
1he light before any final and decisive
&ction can be taken on it.
After Merrill.
General Morrow, who was sent to