The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1877-10-03
Letter From Mr.. Hood.

80 shftp 1"S
r,r.l ,,,.,;r,,;rr f,,nn,;ttno uow ,t
'"'i" ''7"''"5 -.
, work in Columbia, upOn which l desire
.,., c,u. .l.. T do.;ro van IN
10 l.la>c Il IL" lti''athn. 1 "c9'ic wv" ~
reprint all of that portion of the letter
.
referring 10 tillS S~ulJCcl, So lnHt t"i'ii"'
! hn charcoal with tol, in,r any sentence out
,
OF its connections, II giving IL Il lorcet'
| mc,ninn rs 4 dctachrl one. 1t is as fol-
''c'i'l'S II" ''oi "iN' IVA
lows:
The Fond commission is also hard al
work. Their INVESTIGATION will show up Il
systematic scheme 10 nlunGcr the taxpayers
unrqunled i'll the history of modern times.
Every STEP tlkrn ny lne ooniliii,t,r m !,
If those mclnLrrS of the Lr"isiatirc who in
sisted upon Il complete and thorough invrsii.
CATION oi me wlloir uebi l'ei"rc thc apPTT"lrl'
rnit,d I,ht' 'rhis invrsii%G,iiuu viii conyincc
the bond rings and Slrculalors Of New York
aiiu r;>cWiicrc liiat me IVY ior iCsiS';taic'l tn ~.
tnxrs has passed. Ii will destroy the sophis.
teal reasoning Of That class of GalraniHCd
nri'" ,nn ,nnr,,,ci,n nf iii" mur.,tnn =, 1hr
Hu, ! , - T., 'r tMr + r,iu,,tmIn viii ih"ir Wis.
i"lnrv notions of finances and the credit OF
tj,n Si,tr"
nv TWIN. or+ M, cto,sio,c,ou~ ,1,,,co,
wisiorn rr th"is"rdr rrii,tiIi:y.: and oven thr
'r , u ~ ,n,ir ,ir,n!! ,rni,r;StS III viii SAVE
!; S,n,n i,,,n IL. iT "fu nrrI ,3iiw nr ,,,vinI n,,,
Tn ,tn ~ !, ~ =, ." no,uin ~ ~" 80 ihcH,
~ ,'uInS n.n" h h"vr Pb "rr of"rn d"frunIcI
her II win 'In uwny will ihri jrn that every
man wi,n hru,rnS In Nod - snliIions bond j.
an imunrrmi nurchnS,r. The truth of the
matter about these innocent purchasers is.
that there are not half so many as Sun.c pco-
bic would have you suppose. Tie idea of II
money dealer in New York or anywhere else
being deceived about.n State security is SIM
niy absurd. If Won wish TO lind out how this
Ir, t.r - ,rri;,. fp "a u 1,rpl. or in Now Work
who deals In State bonds and you will get all
the information you desire, and find that he
knows more about our finances than lii,ny OF
orr own uc0nic."
con,o ,r thoso so,to,roc y worry .ruo Enr
E"h'e"' lh'H' ''i'''''' '"' Az"
instance. If you willaliow me TO trouble you
to count them. 1 will say that I dc not know
,,y,hinr tr,c. thon tho first md second.
- "a ""|i ""'I '"1 . 49,.
The thlrd Is NOT true, because IL l''lpilcS' II IL
docs not positively assert things that never
.xistcd
Ais''u.
h.-"EVcrE step taken oS Inc ."''i''.''e'
will show more plainly the wisdom and fore
si"ht of those members of the legislature
"1'C ..mm.,,
VINO INSISTED uIol II cnlnpIGie nnu lin,o'Sii
investigation OF TIC WhoN' dcht before llie APP
lropria!inn OF any moncy TO pay interest," on
the So-cHtrd debt
THIS sentence ~ peculiarly nlnarE III ltS
construction. 1t dividcs the legislature M"
TWO CLASSES. 'nlc CLASS wanted 10 ply .hCi m
erosion the public debt 'rithoM Gny ctdmttnu-
trHn nS 70 Whm lt"M'Nfcai nno MM" no;
nc otl'eT WailcVi pa! talSo, puG NuIitS"
II cNaminru b'ynIr payment should De m:ae:
me llISt class was !ooIlSh; li,e Seronu Minu,
the wisdom OF inc second claSs was aiWa!A
pam, but IS now made palmer DS Tic lh'cA-
tlEltiCn gong On.
The truth is, tiicre was no such CLASS IN ING
Legislature as INC nrSt one so ini as " "tsile
to pay interest on the bonds without &; conl-
plctG eXninimn,i"H ana scranton o., Inc ne
Tr.lI1nlllIlf rom Inc CONGRATULATIONS Cll III
rrchiciicG Oh II. mere may nave oSGn Sucm
ucEi h} i, vi T!T oinnt, ,In ..JtS, ~ r"niiv fhinl,
Mou," I"s.., : .Iuo tTinI. e. !. nrn%,EIr trIr
NV nv /" ~ 4 :" a. r '"t' HT Idrnn'n;n,tc won
, ,nnro IN an"nrrnt. ns tIr corrrsnonLnmt Stntcs.
I.oir "t!m,,v.II ~ m WV nou,ii cnm n,nn"hcrs
l. ~ y MN o,'I ~ = ,or .'n imtnr.
M.u," I" ' y, 'ritnnnt w {m;ti on 7 tn;nk
CT on nc uCnt Mi.inut cN"iiin,".iJn 'n ~
tllal II iclt 10 thCiliSciN'S lhcH Moiiu oIlH.It
insisted on H.. They lllu p;llu IL before Will
out examination, and doubtless would have
done SO again. But tho correspondent mani
testify does not mean them. He has In view
none except Democrats: There was NOT q
Iem"rr'tic member IN the i.ceiSihturc Llint
wanted TO pay Il cent ot interest ullti! every
iiuiVluuai nnnu' oupoh "ln cGltihS'tE :;
SOCK on "!ici ittGlt"t iniSnt ~ MI &c
Hiouiu DC l~horou2MlH tAh,,i.1eu, VIZ III
parrnt'Te Traced. liinse tHin,ea Win ,i,.u
were 10 DH SCI h,iue anu tie,r lH!9 nl"h. =
iliS',', alA onLy wv on-liitIuuien I'D. !"rt'
And even with Sllrh cNnininAtlFc rrtcc'lch!.
no interest except That which accrued etwe,
lSt October 1876 and lSt October 1917 was 10 DE
paid out OF the levy OF TINS year;
The only difference IN opinion was MS 10
whether the COMMITTEES to he appointed 10
cNamin the Public Dent should he invested
with such authority as would make tncir
Judgment ON each bond, coupon ana ctfuil,
cate of stock final; or, whether they should
examine. determine what CncSarc~i raIuu!''h:
and what ones not, as they arc no" GONG,
and lay the evidence, together with their
Judgment thereon. before the Legislature for
view were of opinion that ~ the Legislature.
as Il whole could not from the very nature OF
the case. with It's own eyes see the vouchers,
or evidences either for or against the valid
pend for It's final decision almost entirely ON
the report of tie Committee. They were also
apprchcnSivc that. rs the coupons arc de-
c.nrcd to he receivable fortaxeS paid the year
cynm!nation, and seek {" force t.irms"ivcsCn
the State treasury tErouGl lax crii"ctnTS.
such q TAT" OF Things would uhIntstloIiN.is
ri,%kc our s-nvr,nmrnt II Il IT., ra very r. m MrGih sucE
an emergency were made, whether IL were
appropriated then. or only collected anu hcld
over 10 be appropriated afterwards. Those
ion That the legislature could not DELEGATE,
TO The Committee IL right that belonged to II
rs n whole, that Il Committee might be mp
pointed or elected to make the examination
and report the facts, but that the final action
''N'''
Assembly. This was the course adopted, the
committee was appointed and directed to- FRO
coed To the WORK, the levy was mao" ana tie
taxes resulting, bound over to he applied to
the intctrSt Of such portion OF the bondcd
debt as the Legislature may ndjndgc TO BE-
valid. Al members, SO far as c"I No. be a ",%I
thicr votes ON the various points looking to-
wards this end were OF one mind on the main
qucStion-GH contcndrd that n complete ana
thorough investigation OF the whole debt
should be made before any payment OF lnier-
est. Not q single mctnGer GdrOc0tcd any OMr'
course. There were differences Of ,opin.
ion as to the best ,h ,c1 no $50 TO ac ;GHn , Inc
object. Some wanted 10 create me COMMITTEES
in one way, and some, III anotnGr; Soho
wanted II larger, ana some, smaller; sonnG
wanted to clothc 1T with more poWrr ana
some. with less; but all STOOD on inc same
ground ;ss to nc ic"hlng ohJcct IN view; W.,
"a full investigation Gclorc j)dyn.nf. why.
then does this correspondent allow himself 70
place 4 part of the Legislature before the pub
lie in Il position which not one of them ever
~occupicd?, Charity would say that he docs II
unintcntidnally. But then the question Will
rccur, why does lie repeat 1t, or things SINH
lar TO it I'm so many sentences or ms onr