The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-03-05
IA. ss.s. TIs.s.r.r's vi.sie.tIs..


The state Trsesarsr's viaaieatIsn.
We are compelled TO take issue With
the News and Courier a. TO the suHi.
oiency OF the plea OF confession and
avoidance put in by the State ,Trea-
surer; and while we arc equally anx.
ious with our Charleston oontempo.
rary to chronicle the ''peaceiul CLOSE
of controversy which bodies serious
troubles 10 the State" We confess our
inability to see how the controversy
can be- brought to close by tue rrea-
surer's reply. and we ure not willing
that the controversy should be brought
to close ut the expense of tue tax
ridden people of the State. To say
that public officer who confesses that
he has funded over $500. 600 cf fraud
ulent coupons, some Of which hs ac-
knowl1dges were called to his atten-
ton, has vindicated himself by aty
such statement as that made by the
Treasurer, is to say that man who
wrongfully takes the money Of another
ID not guilty Of laceny. because he did
not know whose money he was takiug.
This may seen to be putting the case
too strongly; but let us for moment
look at the facts and figures. By the
Official statements Of the Comptroller
General and State Treasurer, it ap-
pears that from Jnly !. 1867. to O,to.
ber 81, 1871. the interest due upon the
public debt amounted to 81, 5S5, ,572. Is,
aud by tho same reports, it appears
that there was paid out for interest
81. GOO. .2l4 o.. showing that the inte.
rest account was actually overpaid by
$14.64l.88. Mr.. Cardozo must have
had access to these reports, and if he
has made the finances of the State a
study. as he says hs has, he must have
known that the coupons presented to
him by State Senator we're fraudu-
lent. Had he been animated by de-
sire TO foster and protect the Funding
Act. it seems to Us very strange that
he should have allowed these fraudu-
lent coupons to have been funded.
At any rate, tue matter WAS sufficiently
suspicious TO warrant the exercise of q
little of that extreme vigilance to
which ho lays claim. But this is not
all. It is 10 evidence. aud the 'rrea-
surer does not deny it, that the cou-
pons of the $I0i 900 OF unused relief
of the treasury bonds we're also
funded; that in the early. operations
under the Funding Act. 81, 400 of
these coupons had been presented to
be funded; that Captain Little. the
clerk in the Comptroller. Gen erals
office, detected them and called the
attention of the Treasurer to the fact,
and that tho coupons ,0ere then rejected,
because they had been unlawfully
taken from the possession of tho State.
to whom they lawfully belonged. And
in the face Of this. over SO, 900 of these
coupons were subsequently funded
coupons detached from bonds which
have never for Il single instant bsen out
OF the possession of the State. which
were the properly Of the State until
stolen from tho treasury vaults, and to
fund which was palpable fraud upon
tho State Of the grossest kind. II The
State Treasurer did not know that the
entire amount OF interest acorning up
to October 81, 1871, had been paid, be
not only cannot have made the study
of the finances the one engrossing snb.
jeot Of his official career. but he is ulsc
grossly ignorant of the duties of hi.
Office. If he did know the fact, he has
been o party to great wrong. and il
either event. has proven that the trea.
sury is not safe in his hands. OF his
diversion Of the interest fund, we have
already spoken. He does not deuy it
but attempts to step aside from the
matter under consideration to besmirct
a respectable merchant and banker oi
this oity. We have nothing whatever
to do with his quarrel with Mr.. Solo
mon; but We do not hesitate to expresl
the opinion, that his attempt to breal
down the credit OF one OF the sound