The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1877-10-24
aeu,v from Professor Hood.
COLUMBIA, s. {. October l.,

COLUMBIA, s. {. October II, 1871.
Bdaor Press and Hammer: ,,,or st,, worry
DEAR SIR: 1 have been; ano Im, ~ Wy ~,
much Obliged TO you for kindly inviting me
70 write sOine letters for your paper, "niiel III
Columbia. on the Bond investigating ON
uuttee. oosons ,yhv have not been
oi.is 10 write. First, my time has ocen wnol'
~ siven 70 the work In hand. In 1act nave
- more lime to write at night thnh IN DAY
Iiyht' as thai Is tho only time we nave naW "a
,scd reports OF officers and committees, anu
.eano. I,Sisi.tiye action OH the various points
;nr0lycd in our work. In the earlier part
the work when the committee would come 10
gether m the morning, IN, many ny I Ro.n di,t. TYt
SnsInhors. Each member hau W examine
t6sse points for himself, and niSht was tnt
nniv time that could be used for that purpose
The somInlttee has had 70 se.y a,,iUSt .': I'M
SSt,te treasurer could show US only inc more
urOmipent books and vouchers. !hin WIZ
Was about rs ncw to him Us IL was W US. it
Ind his clerks are rs busy as they Gull W
.rith tho current business OF his Office, hno
pbout all he could do was u open the Naui
md allow w 70 hunt for ourselves. Mucu
llms has been lost In searching ,or ,noS NM
Hsoks to fill all the links In the rccorus'
Then. Il must be NAT tnere - ~
Iiyht in the vault, except what Is PuL tnets
nor treasurer (CardoZa) TO show us anything
tn.y are all gone from columbia. 50 that tnt
,.,H,nittee has had " study from the nature
OF the work what papers, DOCKS anu ~ in :,
darx. hot. unventilated vault, anna multi
turius OF u;,pers and books, the accumulation
III e hundred years, search for the thing heed'
,I. In the mean time, only Two Oh inc COLI
I,ittee besides myself had 1; practical kliowi-
.Ipe of bookkeeping, anu THIS khowleGet
did not cover the classes OF account ihootn s
Ell IN our work; viz, the registration i bonus
mud the entries incidental 10 stock, ~ iS
fr.i,si. RI. divisions, revisions, conversions,
concentrations, &C. Be it.remeinDercu, Horc-
over. that We have examined tne pateIiItsI
Of every conversion ana co~nsoiluatiou ouuo
and stock the State has issued during inc lte-
publican administrations, represented ny the
keuublican administrations, Represented ny
over Sill ,UOO,OOU Of vouchers together Win al
I hnye never seen a body OF men Work hnrd-
or. nor greater difficulties TO be overcome III
All investigation. In looking ohck NJ "hnl
hus been done, II now seems Almost = g.; Inr r ! 70
vyun under the best care anu hanaSelnent
but In this case, doubly SO apparently by qe-
sign. has been made comparatively Pihin ny
patient study and labor, ~ very qus"t,oi.
bonded debt has become SO involved rs ours'
can show such All extension anu complete
analysis OF its debt as our State Will NC aoie
20 show when the coininittee's WORK si"ii
In the second place, while my mind was SO
fully engaged with the investigation 1 couiu
not write Without giving W ooLie
cations OF the committees findings and JudS-
iusnt in relation To the bonds. AS tbe Judg.
luent Of the committee Is In no c'Se llhai ~
has felt that 1t has no right TO make pupllc
any opinion that would either ippreciate OF
Ieprecinte tho bonds In the hands OF present
holders.
going an examination because 1t Is belicved
ihey are tainted with fraud, and. where tne
fraud is detected, the Committee Is divided
by the resolutions that crelied II 10 report
tie kuIpe, with q view TO is~ cNPursAllon
AS soon as the General Assembly .conrenes,
uLc Committee will lay before 1t u report
setting forth what has been discovered with
nm opinion as to all questionable securities.
That is as soon as the Committee feels that II
could DO Justified in publishing any opinion
On the subject, properly considering us mag
nitude and what hundreds OF persons II ma
terialiy otfocts, viii asroo With the Commit
leo that It has been bGttor neither to excite
fear nor hopes while tho exalninatlon IL pro-
gressing.
Hoping that you will accept these reasons
as y sutticlent apology for not complying with
your very kind request to write for your very
Excellent paper while engaged In inns in'es'
tigvtiou. / remain yours very truly,
' HM, HOOD.