The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1877-09-21


before they will invest their money in tn,
purchase of bonds that the bonds are legal
ly issued. This point was involved in some
doubt, and when they also discovered thai
there were more than a million of bond.
issued under the act to provide for the pay
ment of the public debt, they refused tc
deal in these bonds, or rather to take them
in any way.
In this eXigency recourse was had to the
act authorizing the issue of conversion
bonds. The act provides that these bonds
shall be issued for the redemption of other
State securities, but it was contend ID by
Chamberlain and Kimpton that these bonds
f.esuld also be sissucd direc.lS us, they
could be put on the market and sold like
ordinary bonds, and the proceeds devoted
to the redemption of outstanding claims
and to meet other State expenses Scott
and were prevailed upon by Chamberlain
and klmpton to cOuntenance this issue of
bonds. When. therefore, these conversion
bonds were put directly on the market they
were sold quite readily, for bankers had no
means of knowing how many were issued or
could be issued in one year. So they secured
these bonds as collateral security and pur-
chased them in preference to the others
Perhaps this was not exactly fair, but we
went on the principle that outsiders were
bound to look out Cor themselves. The OBJ
cct of the Financial Board in this was to
secure money at the least cost to the State,
and there was no intention to dcfraud the
State thereby. During the four years in
which we were in Office the bonded H&bt of
the State was increased about $40, 900 900
All outstanding claims were provided for
four years the only outstanding debt was
for the current expenses of the State during
1872
This board has been consurcd for causing
these acts to be passed. Who drew up and
presented the acts? Chamberlain drew up
every one of them and Kimpton presented
them. The proposition for the issue of
conversion bonds directly was made by
Chamberlain | looked unon this issue as a
necessity. | look upon it now as did then.
My first opposition to the issue of Uonds in
the constitutional convention was due to the
belief that the State expenses could be pro-
provided for without this issue, by taxation.
Wien I fund, however, tnuC lne State ex-
made upon the Treasury by law for money,
acqucsccd III the measures proposed by
Chamberlain and Kimpton.
A SERIOUS CHARGE AGAINST EX GOV ERNoR
MOSES.
There was a terrible increase of cxpen-
ditures ut each succeeding session of the
Legislature. Frank Moses was in the chair,
and am told by trustworthy persons that
he has acknowledged to having signed away
$500, 600 dishonesty, though I'am sure
that it was much larger sum. believe
that three or four millions of dollars were
spent in excess Of the necessary expenses
for the meetings of the Legislature during
these four years. Both Senate and House
were responsible for this. The first Presi.
dent of the Senate was a prets:sY sood man,
Boozer. They soon got him out, however.
He was elected Judge and went out dur
ing the first session. Ransicr, a colorcd
man, took his place. He was equal to the
occasion. Corbin was President pro tem
of the Senate when Boozer, the Lieutenant
Governor, was absent paid Corbin a
good deal of money Still he held large
number of Offices aud received large sala
ries and regular perquisitcs therefrom. |
know nothing, therefore, to inculpate him.
had no doubt that number of charges
brought against the treasury were improp-
erly passed by the Legislature. In particu-
lar, there were number of $4,000 claims
presented which though; were outrageous;
certificates issued by those who purchased
Senators and Representatives. The certif-
icates were properly authorized, however,
and had to pay them. Suppose ] had re-
fused to honor them, what would have been
the result? Why, | should have been
kicked out for not doing ny duty as Trea-
surcr. There was too much influence
brought to bear against me. If had stood
out alone it would not have made any diff:
ference. Why, | have been to Frank
Moses with tears in my eyes, and said to
him: "You will have no money at all in the
treasury if you 90 on in this way" Frank
Moses would only look up and laugh
"Talk about these Republican reformers,
he would say ''you never heard me say any
thing about reform" "No," said l, 81 new
or did"
went out of Office on October 81, 1872
Scott went out the same time, and Moses
came in as Governor. Samuel Melton sue
ceeded Chamberlain as Attorney General
but when Chamberlain went out of office
lie became Mclton's law partnsr.Saup so got
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