The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-15
SOUTH CAROLINA'S BONDS.
INFORMATION or GREIT INTEREST TO
1HE HOLDERS THEREOE.


honur fopuinr sentiment Thereon.
CHARLESTON, S. G.. Aug. 1o-In 1873 the
delft " South Carolina. which WIS not rcpudi-
atcd. wis made funlahlc at 1fiv cents on the
dollar. in consolidation bonds. These consoldn-
ton bonds do not rate with those of Louisiana.
nor meet with the expectation Of the holders.
The tat is. there have been grave suspicious
hanging over many Of these bonds Tor long
time. From their issue Cardoza who was
Treasurer. and as such WIS running the con
solidnt.on mill. was suspected OF being Indicted
to stuillng in any Kind Of matter which was at
hand ~ Ion. as il paid him. II appears that
the testimony Of cX-Gov Moses before the in
vcstisating commit ne was directed partially to
this point. and that thereby 80 much light was
thrown upon the makeup Of some of the con
soldation bonds that the committee have
thought proper 10 recommend the reputation
of those bonds 10y the next Legislature as
fraudulent and void
1t becomes interesting 20 the holders Of these
bonds. and the public generally. TO know which
lot OF the consolidation bonds are to bc rcpudi-
Uted. and as TIA" committee are mum on the point
circumsantiul evidence alone can solve the
problem. Moses recommended the Consolida-
tiOn act and it was passed during his admins
truton fore he went out Of Office he signed
and had scaled from No to No 400 Of these
bonds OF tl,OuO each. Tho most of them were
] lNnu'l Nv SlHtf tUrlNl~, ana are thought
from thu names Of the parties t. have belonged
To- tine Bond Ring Of the State During this
period senator \. l. p. Owens funded the s25o.-
600 OF stolen coupons. winch. during IN" Parker
iral wrr" found t. have belonged To- scott.
| PARKER. kimptun. N"agl". and Chamberlain;
! Another clement IN these bonds was the Land
/ Comm sston bonds. which only Noted the state
some thirty t"r cont. Tn" grnuin"nrsS of some
/ other couet fluent lnnds during this period i-
] qu, 1t enable. 50 that large number ot consolI-
| daiinn bonds were ssund which ought not TO
| have hccn. Moses could not test fly concern ng
lion ia. illIall hsa made
| during ChamhcrlHin- term that r"iurmer did
| not count nance his predecessor. some Of the
! bonds ssurd hy hun were good. and compound
! ed OF good material. Tor thcy were issued 10
! some of TIA" best and most patriotic men in the
! State. so MS t. give the Consolidation act good
send-on hy their count. nan e and wlllnsng -
! To- rompromis e their old gold bonds Of an ante
/ h'llum issue. But the most Of this funding was
! engineered 10y himpton Tor tn" Bond Ring.
| TINS ilnancirr al first pretended 10 Ice very
AYERS" o. the consolidation scheme. deriving 1t
Hs reputation, ETC. But WHEN the time came
| for is pus-age he landed suddenly in Columbia
| to see the BOYS. n hr said. The bill WIS de-
| mycd until the last day Of the session 80 that
! the senators and members could realize the
! highest market price for its passage. 1t was
! Int AT nisht when Il WIS ready for tn" Govern
mansion a mile away from the State lIOus,'. and
| i was feared that the bill could not be- ratified.
| klmpton then threw on his appearance Of hos.
! thty 70 the hill \ carriage WIS IN wait ng and
| himpton. carrying The cnsrussed bill in his
/ hands. waited on Coy. Moses. made the
/ necessary ARRANGEMENTS Tor n : signature. and
returned with II t. thu Stat" House IN time to
/ MAKE II AN act OF that -"s- on
How much further than the first 400 Of these
| bonds may h' implicated IL not known. After
| their ISSUE. Chaml mrlain's name appears upon
| their 81 60, ~-orS. Even after Hamptnn'- inAu-
/ guratiun. chamberlain continued. with Carlo-
z,s aid. Ia issue nsolidaton bonds to all Who
| applied 10 hay" their old securities exchanged
| Tor the n,S bonds.
There is division Of sentiment, on the quos-
ton Of these bonds IN the state. The Governor
! ami many others in the stat" are in favor Of
stand NJ 10 Ia" eonsoidnti"n bonds as they arr.
but There are very many who mss upon tho
elimination Of the fraudulent bonds. Rct ord lus
70 the proposed report ol thr committee These
latter lns 81 that the STATE cannot pay the inter
cst due and past due on the LIST Of January ISIS.
| without a cpnira.tlOn OF the debt 10 the smallest
! scope possible. They nlure II out that this in
terrst Will amount to 81 u2DO0O. which Will re-
Quire tax Of ten mills. or three mills NOR.
than the present years tax, for all State pur-
| iundable bonds NOT vet funded since tn, Isl Of
January. is74 and excuIeS ali int"rest prl"r To-
| that tim" which II fundahle. along with tn"
bonds rs Of that day. II Ia" Governors position
prevails. II will De- plain sailing a. 10 all these
! bonds: hut II II docs not then the prdiErr. Of
ga III eonsodati bond wi b V t. accompany
/ II before Il IL marketable. This IL a curious
| - tl"h i,r PERSONAL lrolrrN' nui II - a.
! tuny 50. that these p"diere's are IN existence.
that such II bond was funded boy certain parties
| out Of various "ld claims. and certified 10 BY
When Cardoza commenced his fraudulent
work turning over N" proceeds 10 his fell
! lows 81 the Bond Ring. some 81 them sold out
/ immediately. They Put the first Of them on the
! Charleston market and employed q news paper
10 pun them m appeals To- patriotism. mingled
with cupid ~ Tho appenls w"r" successful.
and several Charleston capital sts endorsed 10"
bonds issued They expected that the bonds
would soon rise from 60 To- % .nis. Tut they
| have never done So. ana the history ~ many of
these bonds indicates thnt they belong To- the
class 81 iraudul"ntly stuffed bonds. The Bond
Il NJ has quietly sold t. th"s capital -tS th,'s
fraudulent bonds and pocketed The proceeds.
1hts" thhrl sipn holders are, THEREFOR, str M
advocates 81 the Hampton policy Of validat ~;
IN" consolidation bonds rs a class, without
quest nning IN" comir'- ton or antt'ri MS OF