The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-06-07

UUU III 'dSSIcSatoo o,oIV3Voo "a oonN.
issued in violation of the law and
the constitution, and they are therefore
fraudulent null and void.
We have previously shown that on the
31st of October 1871, the debt that had
been added by the Republican party
amounted to Sl1,412,36S.37. It also ap.
pears in the act of December %, 1873,
that st, ,965, 900 was fraudulent. In addi-
ton to this amountiI have just attempted
to demonstrate that there was So, ,349, 900
additional! bonded debt that was also
fraudulent, so the aggregate fraudulent
debt amounts to S9,314, 900; +; subtract this
from the S11 ,412, ,36S.37, it will leave 81
O9S,36S.97. This then is the true amount
that should be funded or fundable under
the act of December %, 1873, which at
so cents on the dollar amounts to 81, ,0A9,-
lS4.18 the amount that the State owes on
the Indebtedness created by the Republi-
can party, and if to this you will add one
half of S4,43S, ,958. SO, which is the amount
of the ante 5elzum debt, it will leave ST.
PIG, 9,479.49; ;aif to this you will add the
amount of the Republican portion of the
public debt which is 81 ,049, ,184.18, twill
give us the true amount of the. public
debt of this State, which will be So, ,268,-
663.67, the interest being omitted on both
amounts. Now this is fair and legal
statement of the public debt of this
State made by applying the provisions of
acts of the General Assembly and the
constitution of the State, to the facts that
are involved in the estimate of the pub
lie debt.
Again if you will take the figures of
tina Republican party as set forth in the
report Of the case of Morton, Bliss & Co.
vs. S. L. Hoge, Comptroller General of
the State, which fraudulent debt was
fixed at $7,191, ,70S. If we add to this
s3,349, 900 it will amount to s10,549,700.
If we subtract this amount from $11 49,
36s.37, it will leave 1871, 1,66S.97. Ifyou
settle this at so cents in the dollar, ac-
cording to the act of 22d December, 1873,
it will be $435, ,S34.1S. This, then, is the
true amount of the debt that we owe,
that was created by the Republican par
ty. IF to this we add the true amount
that we owe of the ante beNuMs debt,
which is s2,21s,As.49, it gives the cor
rect amount of the debt Of the State, to.
wit: $2,665,313.67. The parties to whom
this debt is payable can readily be ascer-
tained by reference to the registry kept
by the Treasurer in accordance with ar.
ticle 9, section II, Of the constitution of
this State. ..t' - - -,
The consolidated debt of the State is
represented by those who do not desire
to look behind what has been done by
the Republican party as follows: Con-
solidated debt, 81, 1896 ,29O.44 not consol-
idated, $4,367, ,519.62. This when consol-
dated according to the act of ed of De.
cember, 1873, would be 81, ,1S3, ,759.S1. To
this if you will add the amount of past
due interest on the debt consolidated and
to be consolidated, which amounts to
S371 ,O25.S4, it will give their statement
of the public debt, to-wit: $6, 1851, ,076.09.
Now, if you will subtract what I have
ascertained to be the public debt, to-wit:
S2665, ,313.67 from the above amount of
it will leavea difference in
favor of my statement of 81, ,285,762.42,
which will make a big difference with
the purses of the poor tax payers of this
State.
Twill next review some of the argu-
ments advanced by those who are un-
willing to look behind the debt that the
act of 22d December, 1873, has and will
establish, and who are in favor of the
levvinp in the fifth section of the bill of
a tax sufficient to pay the interest due
upon this debt.
Those who are not of the legal profes.
sion are under the erroneous impression
that the State can be compelled to pay
the public debt by the ordinary process
of the law; but such is not the fact. The
State cannot be sued. For a breach of con-
tract on the part of the State there is no
legal remedy; but there is a remedy for
a breach of contract between individuals.
The very essence of the obligation is the
legal remedy for the enforcement of it.
The reason of the difference is given in
the case of Morton, Bliss & Co. vs. S. l..
Hoge, Comptroller General, and is as
follows: 'That a suit pre-supposes the
submission of a controversy between two
or more to a third party, Independent of
both, and, therefore, capable Of dealing
with the question in a judicial spirit
with judicial authority. When sove-
reign State violates its contract, no such
independent source of authority can be
appealed to, for the fact of sovereignty
in the State precludes the possibility of
its existence" It is, then, clear that a
State cannot for violation of its obliga-
tion become the subject of coercive
process to compel it to meet its just in
debtedness. The creditor must, then,
rely solely upon the honor and moral
principle of. her citizens and the sound
policy of her statesmen. The action of
the General Assembly is, therefore, final
and absolute. If they refuse to levy a
tax sufficient to pay the principal or in:
terest, there is no remedy to compel
them to do so. They are at once the
Judges of the law and facts, and from
their decision there is no appeal, except
to the people, who are source of all pow
er in republican government.
The second argument that has been
relied upon by those who favor the fifth
section of the bill is that the Democratic
party was pledged to abide by the
adjustment Of the public debt by the act of
December %, 1878, commonly called the
consolidating Act" and to establish
this they quote q resolution adopted by
the State Democratic Executive Commit
tee on the 4th of October, 1876, which
reads as follows: -,
Resozued, That tie State debt haying
been practically adjusted by the consoli-
dation act of December %, 1878, and
most of the creditors having come in un-
der that act, we consider the adjustment
as final, and pledge the party to abide
by it.
In my comments upon the action Of
the members of the State Democratic
Executive Committee, I wish to say that
know them well, and some of them !
regard as my personal friends, and be-
lieye them to be high-toned, honest,
patriotic and good citizens. I, therefore,
in advance, disclaip anything of per.
sonal character in what 1 am about to
say in reference to them as members Of