The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-03-02

funo, or any ono OF these spocihc tax leyies, it
must be remembered that the srnouht realized
from the various ievies -feiI shore of Tho
nnounts appropriated under sacii levy, In
every instance, except In the case Of interest.
here present a statement of the deficien-
cies, which will show the amounts appropriated
in excess of the amount realized froit the par.
ticular levy:
SstiuTicS.. .SJS,0JU S1
Penal charitable and education in-
st'tutions. '.............. 1000 90
FREQ schools. s................. 29,779 90
Legislative expenses. s............ 87,31S 90
Inbllc printing. :........ 1885, 400 90
Claims South Carolina Bank and Trust
company. ................-- 1854
During the last fiscal year nearly every
man who had O claim upon an account in
which there was deficiency tried to persuade
me to pay him out of the balance Oh hand
to the credit of interest, and 1 doslned
hundred times to thus divert the interest
fund
remember we'll that several members of
this very same committee were very much
incensed at my refusal 10 do 30. But now
they blame me because l borrowed $50 600
this fiscal year out Of that balance of interest
fund Willie it was not wanted, to pay legisla-
| tive expenses and the interest on the consoi;-
dation bonds due January /, 1875, which
sums were repaid by the receipts on account
of both of these objects in less than thirty
days after.
Is it not natural that should feel that tho
committee have condemned me from personal
metives2
And now I am compelled by the cir
cumstances surrounding me to disclose the
secret history of my action in reducing the
balance of State funds in the bank to lower
point than 1 would have doro otherwise.
which is the occasion of the committces un-
measured censure. deeply regret tie neces
sity of this, and would have preferred to cx
tend to Mr.. Solomon aud his bank the mercy
Of my silence.
When took charge of my Office in Dccem.
Der, 1872, in conjunction with the governor
Hon. F. j. Moses, jr., and the comptroller.
general, Hon. s. L. Hoge, we, as board,
designated the Central National Bank, of this
city. as depository for the State funds, and
continued the South Carolina Bank and Trust
Company as depository. which it had been
for several years previous. In November, 1873.
1 was summoned by Gov. Moses to his Office
to meet himself and the comptroller.general.
When assembled I was Informed by him that
they had determined TO make the South Caro-
lima Bank and Trust Company the sole and ex-
elusive depository for the State funds.
earnestly protested against such action, but it
was useless, and was over.ruled and was
compelled to deposit the funds in bank in the
management Of which had not the fullest
confidence.
When MIR. Chamberlain was inaugurated
governor. we Immediately conferred on this
important subject, and decided it was highly
imprudent to place the entire moneys of the
State, amounting at times to $1,000, 900 of
cash on hand, in the South Carolina Bank and
Trust Company, or, more properly speaking,
with Mr. Solomon himself its president who
OWNS nearly all tho stock of the bank, aud is
solely and exclusively responsible for its
management.
'"oo oeosou " luo governor that Wo
might possibly meet with some difficulty: that
Mr.. Solomon might possibly attempt to retain
the State funds to reimburse himself for the
State claims he owned, and for the payment
OF which there was no provision made by law.
reminded the governor of the circum.
stances under which he had attempted once
before to do this, by dlshonoring my official
check, because refused to pay an illegal claim
which he presented. 1 am aware that Mr..
Solomon attempted to justify his own illegal
action by alleging that I was violating the
law, and therefore, arrogating to himself the
restraining power of judge. 1 am also
aware that he did this under the advice and
instruction of the comptroller-general
With vivid recollection of this extraordi-
nary and illegal conduct of Mr.. Solomon, 1
expected repetition Of it when it should be
determined to increase the number of deposito.
rIes. |, therefore, decided to run my balance
down in bank as low rs was consistent with
safety and my po,0er under the la,u, keeping
due regard to the demands that might be
made upon the treasury in tho meantime.
There were other and much more serious
reasons, however, why did not deem it pru-
dent to make Mr.. Solomon's bank the sole dc.
postory Of State funds