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


which he controls, and in part owns,
to belittle and befonl it in this dirty
fashion. No cause can be intrinsically
honest and strong, or decently respect.
able. which would resort to such vile
agencies to bolster it.
The Vote or tho Act Relative to the De-
Posit OF the Noneys 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 im-
portanoe of throwing around the trea-
sury every possible safeguard. The
reasons which sustain the positions
taken are as admirable as the frmness
OF the position itself. We cordially
commend it as paper which achieves
a present public good, aud contains
the seeds and promise OF a greater in
the future. It has ring, a tone and
purpose 10 It vLioh will outlive the
issue which has evoked it. Yester.
day. in the Senate. a 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.
snre. 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
would be passed by two-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. the Union-Hs-
raid ought to hang it's head for very
shame ct the idle. untrue and mali
'cious utteranoes which it continually
throws out against the political m motives
Of suoh men ss these. The fact is, the
Conservatives support the Governor
upon principle. and only upon princi-
pie. This is standing and biting
rebuke 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 IAN ACT relative to the deposit
OF tho moneys Of the State, and other
provisions in relation thereto" have
carefully considered the provisions of
this Act. It is proper to say that ap.
pareutly no influence has been left un.
tried to induce me to approve the ACT:
aud, il personal considerations could
be allowed by me to influence my ao.
tion upon suoh matter, it would have
given me pleasure to sign the Act; but
1 have resolved, and I stand pledged,
not only to the people of the State,
but to my own character and con.
science, never to allow considerations
personal to myself or to individual
friends to have weight with me against
my convictions Of public duty. / have
accordingly examined this Act solely
with reference TO its effects upon pub.
lie Interests, and under that rule am
compelled to disapprove its general
scope and it's specific details. The
safe.keeping Of the public funds sh ould
be made as absolute and unquestiona.
bic as legislation can make it. Safety
is the first requirement, and should
never be made secondary to other con-
siderations. II the present Act omits
" single precaution or safeguard now
existing, it cannot command approval.
II will be useful TO 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. az found in Section 80,
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-