The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-08-30
SOUTH CAR0LlNA's DEBT.
E1zasz.:natson OF Rosds by the state ri.
nance ConlnissioD- III Dlsaa tisfhctfon Of
Kew Fork Creditors.


The Commission appointed by the
GenerSl Assembly Of South Carolina to
investigate the Indebtedness of the State
70 now In session at Columbia, but 30 far
their ection has not met the approval OF
bOnqholdem In this city. Under the res
olntiona creating tho Qnn,.nlesinn Il was
their duty TO mako II complete end
thorough Investigation" of the following
and Kindred matters, and to report the
results to the next session Of the General
Assembly:
The entire amount of consolidated
bonds and certificates of stock the. have
been issued under the act to reduce the
Volume of the public debt and provide
for payment of the came, so as TO show,
under proper heads, the number in the,
series, the letter, date of issue, date of re-
dempfion, rate of interest, &c. and tho
CciI. EMISSION WAS authorized 20 rc.;ui.c
the holders Of said bonds to produce the
same fog Inspection.
Another section provided that such OF
the bonds as "shall be found to have
been issued according to law, and that
aFe valid, bona fide bonds, coupons and
stocks, ahail be registered by their num-
Der, letter, denomination and such other
distinctive titles as may be best suited 10
the object in view and shall be certified
as correct, In such form as the Commits
sion may deem proper
UaGeF the provisions of this act the
Commission have been calling upon the
bondholdero to aend their bonds to CO.
lumbia for examination, and those who
I have complied find that their bonds are
now being returned to them again without
having been certified, as it WIS under
stood sslhey woald DO. Mr. Jchn 3. Man
ming, of14Wsll, street when spoken to
upon mo auuleus BY 8 Etylstia reporter,
said that Bnnie Of Shh essdEtdgs of the
state hefo vsefe ineignant at THE way in
which they had been treAled in this mat.
ter. He he'd already written to gentle
7 tiitln sn Columbia, asking him to lay the
matter before the Commission and get
their reply. In his letter, Mr.. Mannine
chafacteriZes the action Of the Commis.
aioH In returning the bonds without be-
ing certified % an "inposition," and saws
they have net performed the duty for
which they were appointed. He also
adds tllat at Ia b very heavy tax on
bondholders 10 send their bonds to Co.
salnss.. Sa 6 s.sseeiiasst=s E..siaess," and thas
SasTo Is no guaranty given tilat ttno bonds
val! net hsye te GO aewn 20 Columbia
again.
Mr.. Manning states that the entire
amount Of Eouth Carolina 6 per cent.
consols now outstanding Ia about 81, 500,
600, Of which about 0nalhalf ia held In
New York. OF this amount S243, 600 are
tainted, that is bonds which are regarded
% questionable, and ef these 300, 600 are
hold in New York. Thsse latter arc the
bonds which il sSas particularly irnpor-
tant ahonid be certified or rejected hy
the C0nimissioe, ss otherwise there Is
much uncertainty as to the;- >roal value
Tho last payment of inteEest was made
in July 1875, bat the coupons are re.
ceivable for taxes, and q great many of
theEn kaae been paid in that ysay.-Me,p
YorE B.illetin.