Orangeburg news and times. [volume] (Orangeburg, S.C.) 1875-1877, 1877-07-07
A Bloated BondhoIder.
HE Governors Mission to
wall Street.


WALL street.
), Sun Reporters Interview with Il Bloat-
ell Eondlloldcr-An Up Hill Work
What 0ne ofkimpton's Victims Has to
Say About Con ersi II Bonds ''Dead
Beats" Choice.
New 1oEK. July Governor
Wade Hampton reached this city ten
days ago, anj since that time has
been busily engaged spending part Of
his inc among the capitalists. On
his arrival il was rumorcd that lie
had come to secure the arrest Of his
predecessor, Chamberlain; that his
mission WAS OF Il political nature; that
he was to visit old friends; that he
wanted to capture Niles G; Parker,
one OF the South Carolina RAG, who
now resides in Newark, and SO on
The fact is that Governor Hampton
came here to raise money for the
treasury Of South Carolina. The
Legislature which assembled soon
after his installation empowered him,
should he deem it necessary, to bor-
row 100000 on the credit OF the
81 ate, the sum to be used for the pay
lncnt Of the interest on the State debt.
his loan was necessary because Of
the non-paymcnt Of State III xcs pend :
ing The scttlcm Of the Gubernator
ial troubles.
IN Governor 1Iampton's search for
an accommodating capitalist, he has
given it to be undcrs.o ood that his own
| people lave oirrc,l to lend tho State
the money, but they asked too high !,
rate Of interest, anl So he came to
this city i'll the hope Of placing the
| loan 1T io:Ir or five per cent. Small
- !: Tie sum ASKED, and despite the
!t'c'lsa "i the credit Of on. OF i,e
original thirteen States, Governor
l!.'" itvi lns. found :l... Ia. h,., /.
ard task on hand lie has applied,
am NJ other prominent bankers, TO
john j. Cisco, :. $. Bahcock, Eugene
Kelly and Brown Brothers. ITc has
spent much or his time i'll Wall street,
and told Il friend, recently, that he
ha'l expected to negotiate the loan
amcn9 his personal acquaintanccs
Ills Attorney General, Mr.. James
| 'nnncr, who is ut the New York
tlo!cl, has been i'll for several days,
and has. there fore, been Of s.nall ser
vice i'll the difficult Negotiations.
~ Sun reporter, in searching for
information Oh this subject, fell in
with Il holder Of The bonds Of Sou,l,
Carolina. Look here" said he, p-o.
dncing Il large package Of these
securities and laying one Of them BE-
fore the reporter, "hcrc is $ ,O0O
| bond ofthc State Of South Carolina
rs you see, it wis issued in accorl
ancc with an act Of the Legislature Of
The State, quoted on the face; it is
Si%ncd ny the Governor Of The State,
ro"n'crS;gncd hy the Treasurer oi',hc
State, stamped with the great seal ol
the State, duly numbered; and you
sec chat the faith, credit and funds Of
The State arc by this bond Itself pcdt-
cd for the payment Of the Interest,
and the redemption Of the principal
| These bonds were sold III this mark ct
by the authorized and accredited
agent of llc State (Chcrubic X imp-
ton,) from whom ] myself purchased
them. Now, sir, when, after these
things yon find that these bon Is arc
to-day worthless, how can any man
in this street where the vail lity Of IL
contract and the honor Ola signature
are the supreme law, regard any
other pledges tha. may be made by
the government Of South Carolina.
The Governor whose signature is at.
tachcd 10 this bond, is to-day an ad-
hcrcnt and upholdcr Of Wade IIamp-
ton. The same is to be said Of the
State Treasurer whose name ndjoins
the Governors, and many members