The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-03-19
G0T1UEBfzAk,GS3. s.. S. g.
Ftitay Morning, Mrlaroh I5, 1875. 3,
Trial OF tho Trcnsuror.

-. -. melton, ESQ., OF counsel Tor
Treasurer ,Oardozo, delivered strong
and admirably arranged argument
in vindicatioh of his Innocence OF the
Iaain charges brought against him by
she Special Joint Committee and in
exteauation Of others. He asked the
General Assembly not to entertain
any form OF proceeding which would
Faa0tt as described by tho committee,
sanply in o vote Of want of confidence.
There was none suoh knoxn to the
Constitution. They should aoquit or
condemn upon the charges. he went
over the charges and specifications in
she frat branch OF Che subject seriatin,
maintaining the following points:
The funding of these bonds was within
she positive requirement of the Fund
lng Act; that they are within the
amounts specially authorized and di-
Eaoted to be funded; that the provi-
elons OF this Aot,extended to all hold.
era OF the enunoiated bonds without
respect to persous-to creditors hold.
ing bonds in pledge as we'll as those
holding absolutely as owners; that this
Act ves passed in view of and with
actual knowledge. of all the material
aac&s now alleged against the validity
'of these bonds; that it was within the
purpose and policy of the ACT that
eaey should be funded; that the proyi.
mons Of theAes weee rendered to the
Ahelders OF It's bonds as oomprom ise
*'Vdlch oil were invited to accept; that
blythe funding, the State has lost no
right vhioh attached to the original
Soads surrendered; that the General
Assembly has again and again waived
all objections on the part of the State
to ths validity of these bonds; that
thaaa alleged objections. even if valid
3hojections. cannot be pleaded against
tho holders of these bonds; that the
Treasurer was by law bound to do as
he has done; that he was without
authority to disregard the warrant of
the law; and that although all the at
@ending facts have been known to the
General Assembly for now near four
months. no such authority has been
given him.
A point Of great interest in this dis.
oasaion he's been the remarkable fact
dhst the Treasurer has funded bonds
OF large amount OF interest ooupone
outstanding during years when the
State was paying it's interest, and in
gold. the amount so paid being alleged
TO he greater than the estimates called
for; Upon that matter. Mr.. Melton
aaid: g &.
As to funding OF $241, 900 OF de.
toohed coupons which matured on or
before July 1,-187l. the charge is. that
the amount Of: interest paid prior TO
October, 1871 was in excess of, the
UomptrolIer's estimates of what was
Eeeded. And apresumption also ex.
Hses, shse up to, at period, the State
vas paying interest, and part OF the
eame In gold. Comptroller estimates
aTe epnJectural. and always made a
year in advance, and cannot be- made
eocDser future>and unauthorized de-.
fnaod6. The oemmittae;s statement
from these estimates is, that Sl4, ,384. l6
vas Raid In excess of them. The fault
hera i1, that no account ia taken of the
large samount of bonds which were
ISSUED after the estimates were made.
aniounting to nearly $4,000. 600. In
eheftFeasury only can be found the
b"adgf registry and statement of
omoonts due for interest OF each an.
nqaiperiod. An examination of theae
books, kept by Parker, shows that at
daea.of October, 1871, there was due
onkaccount OF interest, $8l7, ,025. 97.
Thereds no record in the treasury of
other payments than those stated. and
PArker's vonchers are all In the Office.
eovering every paymensa of Interest
made by him osA AOomptroller General.
Stock books show balances are due TO
nearly 100 persons on account OF stock
interest falling dne during that period
Among the bonds funded, are many
which carry coupons for that period
yet attached. Why these coupons
Wers' not presented and paid willie
Statslweb paying interest, and paving
ie Ia gold, canaos be shown; but 40 &
10. the cohpous we're due and we're NOT
psid.st We may oDpjeotare thst. aa IL
10 iuevidenoe that 4 1ese honda uera
<I<-As4 Il. a.an 4 A r.