The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-03-07

to belittle and befoul it in this dirty
fashion. No oause can be intrinsically
honest and strong. or decently respect.
able, which would resort to such vile
sgencies to bolster it.
The Vote or tho Act Relative to { he De-
posit OF tho Moneys of tho state.
The message of the Governor, an
abstract OF which We append, vetoing
this ACT, will command the attention
and approval OF the country. It is
perfectly conclusive as to the vital i'm.
portanoe OF throwing around the trea.
sury every possible safeguard. The
reasons which sustain the positions
taken are - admirable as the frmness
Of the position itself. We cordially
commend 1t as paper which achieves
q present public good, and contains
tho seeds and promise Of greater in
the future. It has q ring, a tone and
purpose ID It which will outlive the
issue which has evoked it. Yester-
day. in the Senate. test vote was
taken upon the question whether the
Act thus disapproved should pass,
notwithstanding the Governors obieo-
'tions. It was a moment of great
interest, and the friends of the mea.
spre. which proposed to designate the
Carolina National Bank and the South
Carolina Bank and Trust Company a.
the sole repositories OF all the funds
OF the State. were confident that it
1ould be passed by swo.thirds vote
over the veto. There was no discus.
sion-eighteen for it and twelve
against it. The bill was lost. Every
Conservative vote was cast to sustain
the veto and to guard the public
money. Looking at it. tho Union He.
raid ought to hang its head for very
shame ct the idle. untrue and mali.
'cious utteranoes which it continually
throws out against the political m olives
Of suoh men a. these. The fact is, the
Conservatives support the Governor
upon principle. and only upon princi-
pie. This is a standing and biting
eebuke to the sort of support which
the Union Herald gives him. The fol.
lowing is the extract:
:. I return herewith. without approval,
an Act originating in the Senate en-
titled san Aot relative TO the deposit
OF tho moneys Of the State, and other
provisions in relation thereto" I have
carefully considered the provisions OF
this Act. It is proper to say that ap.
parently no influence has been left un.
tried to induce me to approve the ACT;
and, il personal considerations could
be allowed by me to influence my ao.
ton upon such matter, it would have
given me pleasure to sign the Act; but
I have resolved, and I stand pledged,
not only to the people of the State,
but to my own character snd con.
science, never to allow considera rations
personal to myself or to individual
friends to have weight with me against
my convictions of public duty. I have
accordingly examined this Act solely
WAsA ACA0kouCo ~ lSo tAeCto upon OuO.
lie interests, and under that rule am
compelled to disapprove it's general
SCOPE and its specific details. The
safe-keepiDg Of the public funds should
be made az absolute and unquestiona.
BILE as legislation can make it. Safety
is the drst requirement, and should
never be made secondary to other con.
siderations. II the present Act omits
a single preoaution or safeguard now
existing, IL oannot command approval.
Il will be useful 10 examine the pre-.
sent law regulating deposits of public
moneys. in order that We msy com.
pare that system with the one now
proposed in the present Act. The
present law. as found in Section so,
Chapter II OF the General Statutes,
places upon board. composed OF the
Governor. Comptroller. General and
the Treasurer. the duty of selecting
such banks for the deposit of State
funds as the board. or any two of
them, may judge. first, to be secure.
and. second. shall pay the highest rate
of interest. The Act now before me
designates two banks, without qualifi.