Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1877-07-12
From the Charleston Journal Of Commerce.
GOV. HAMPTON AND WALL STREET.

New YORK, July 1.-Gov. Wade Hamp.
ton reached this city ten days ago, and since
that time has been busily engaged. spending
part Of his time among the capitalists. On
his arrival it was rumored that he had come
to secure the arrest of his predecessor, Cham.
berlain that his mission was of political
nature; that he was to visit old friends; that
he wanted to capture Niles G. Parker, one
of the South Carolina ring, who now resides
in Newark, and go on. The fact is that Gov
ernor Hampton came here to raise money for
the treasury of South Carolina The Legis.
ature which assembled soon after his installa-
ton, empowered him, should he deem it neces-
sary, to borrow 100000, on the credit of the
State, the sum to be used for the payment of
interest on the State debt. This loan was me-
cessary because Of the non-payment of State
taxes pending the settlement of the Guberna.
torial troubles.
In Governor Hampton's search for an &C.
commodating capitalist, he has given it to be
understood that his own people have offered
to lend the State the money, but they asked
too high rate of interest, and so he came to
this city in the hope of placing the loan at
four or FIVE per cent. Small as is the sum
asked, and despite the pledge of the credit of
one of the original thirteen States, Governor
Hampton has found that he has hard task
on hand. He has applied, among other prom.
nent bankers, to John j. Cisco, S. S. Babcock,
Eugene Kelly and Brown Brothers. He has
spent much of his time in Wall street, and
told friend, recently, that be had expected to
negotiate the loan among his personal &C.
quaintances. His Attorney General, Mr.. Jas.
Conner, who is at the New York hotel has
been ill for several days, and has, therefore,
been of small service in the difficult negotia-
tions.
A Sun reporter, in searching for informa-
ton on this subject, fell in with holder of
the bonds of South Carolina. Look here,
said be, producing large package of these
securities and laying one of them before the
reporter, "here is 81 900 bond of the State
of South Carolina. AS you see, it was issued
in accordance with an act of the Legislature
of the State, quoted on it's face it is signed by
the Governor of the State, countersigned by
the Treasurer of the State, stamped with the
great seal of the State, duly numbered; and
you see that the faith credit and funds of the
State are by this bond itself pledged for the
payment of the interest and the redemption
of the principal. These bonds were sold in
this market by the authorized aDd accredited
agent of the State (Cherubic Kimpton,) from
whom 1 myself purchased them. Now, sir,
when, after these things, you find that these
bonds are to-day worthless, how can any man
in this street, where the validity of a contract
and the honor of signature are the supreme
law, regard any other pledges that may be
made by the government of South Carolina.
The Governor, whose signature is attached to
this bond, is today an adherent and uphoder
of Wade Hampton. The same is to be said
of the State Treasurer whose name adjoins
the Governors, and many members Of the
Legislature who passed the act authorizing
their issue are to-day members of Governor
Hampton's Legislature. Yet this bond and
these bonds are worthless"
"But, then, we're not these bonds issued by
fraudulent State government" asked the
Sun reporter?
No, by the legal government of the State
recognized as such by the whole population
which obeyed it, paid taxes to it and enjoyed