Orangeburg news and times. [volume] (Orangeburg, S.C.) 1875-1877, 1876-06-10
"Rumor is rife tla. the financial

" tHe CIlluc Is the YallQatlOn
OF the Conversion Bonds. There
were six millions Of these bonds
issued by Scott, & Co., which
were repudiatcd by the Nluscs
Legislature us fraudulent. These
were declared non-tunlablc in the
funding act, passed during Moses
administration, and now being ca rricd
out by Chamberlain, Cardoza 81 Go.
Up TO the time Of the nominating
Convention Of the Rcpu blican party
i'll 1874, Chamberlain, having acted
us attorney for the holders Of the
bonds, his condida y was considered
step in the great law-suit to recover
payment for them against the State.
At that Convention, however. he was
compelled before nominated, to sign
an agreement not to validate them.
his agreement Of course ends with
his present term, and the same rca-
sons which induced the belief Of his
former intention TO collect his fraudu
lent debt, operate Eow. His friends
in the Democratic party comprise
those who suffered in tie rcpudiation
OF these bonds by the Legislature,
and, IT is asserted upon many good
authorities, others WHO have Sine
then gone into Il speculation to make
them good. 1t is said that these
Conversion Bonds have been bought
up by the latter party ut from 8 10 5
cents. There are none of them now
for safe OH Wall street, and have moi
been for some time, though / have
made enquiry for them.
"Onc can scar-,ly realize a more
profitable speculation than these
purchases would be, provided they
were put through the building process
Of clccting either Il Republican or
Democratic administration favorable
TO them. 1t is a big thing, and is III
the hands Of shrcwl manipulators,
who rs yct Lave managed to control
any effort TO warn The people Of their
approaching danger
We do not believe the above but
declare it TO be our solemn con
vic:ion that who ever in the future
attempts to rc-invalidatc the illiga!
Conversion Bonds, issued during the
larccncous and black -soulc,l DAYS Of
Scott's administration, will BE driven
by an outrage people from the
confines Of South Caro- lima. WHY,
even the gracclcss L. j Moses, Jr.,
while lie WAS Governor, declared that
the Conversion Boa Is were too much
TOR the State to carry, and advocated
with all his might their complete
and instant rcpudiaticn Although
covered all over With sin; rccking,
stincEing, rotting i'll u'ccrous, mag
goty corruption, +. j. Moses, Jr.,
knew that the people Of South Carroll
na would make hard bed for tic
man who dare, TO !;.stcn upon them
this unholy six millions Of dollars
debt, and that it was his holniicn
duty to discountcnancc every effort
made TO lcgaIizc 50 prcpoStcrous IN
outrage and swindlc. 1: Moses did
This much for al oppressed people,
is there less tobc expected from our
latter day so-calcd saints?
1t is not our desire to ni<iudgc men
or their motives, hut-ifthc rumols
VIC hear are to be credited, there is n
deep laid schemc'::o make u jobbing
house Of :he next Legislature. What
the precise Jobs are or Will hc that
Lobbyists will attempt to rush through
that body, we arc not appriscd Of; but
it is certainly known to every man
who is ut all tarmiliar with affairs in
Columbia that for The last five years
certain parties could be frequently
found about the State House Feeling
the pulse Of Tie members Of the
Legislature towards the Blue Ridge
Scrip and Conversion Bonds. These
same parties are alive yet, and arc
not whit too good, if they see the
opportunity, to spend two millions Of
the Conversion Bonds and Blue Ridge
Scrip in bribcs upon tie Legislature
to have them lcgalizc,l and knocked
into new life again. Let the people
beware lest they find themselves
tortifying tic enemies Of the tax
payers, and contributors to the
power and influence Of those who are
only waiting for Il chance TO pouncc
upon them rs rtmorsclcssly as tic