The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-05-24
( ~ ''i.-,5Iii ,ITiiss s,Es ,,s,sate rant. /.


g The fSlhWing j. . portion, Of THO de-
tho question of iappropriating $500, 600
'tofpay the past duafinterest on tho Bond.
eddehti os tho, State It, gigesas very
rood outline of the arguments used by
s ys sdyoefteE g h.iaf eash salfae Of the qasss qs
|i9lUpoa this AEr. Aidrieir Dem. J bad the
feofI and he eaid, he was 6f. opinion that
m the difielllty which might arise from
ss $Sa seded sSsRSp tbo y%Sat ssSa e
ofa cl&use to chs eiibct that county tfeas-
urel., In. collecting taxes shall reosive
1othing bnt golaH eilvers ,upited States
legal tender notes and National Bank
bills. BE was assured that the Taxpayers
would rather ray the tax than submit
thamsslgea 70 the ecngss ses . remedy
which would not, be-, worth TIE cost Of
getting tt: In reference to the rendering
of bills Of the Bank Of the State, all they
had to do was to put in q provision that
they wonld receive 10 per cent. of them
per .annpsa, that the State recognized
them as q, legal debt and would pay them
in time. Mr., Aldrich then took up his
second proposition, viz: that tha people
should not pay the debt If they were abla
He5did not recognize TINT the parties
who incurred the debt were the legal
agents of the State. aud when the bonds
wers Issued both the people and the PRESS
rang cut from one section Of the country
TO another that theylware fraudulent and
would not be, paid, IL the true representa-
itives Of the State by; Gods, help ever got
possession ofthe government again. The
buyers OF the bonds were given fair
notice that they would not be paid, and
they purchased at their peril. He could
not be scared with the CRY of the stain Of
repudisEon: One could only repudiate o
debt valid both m law and morals, hav-
Ing at the time of the act of the repudia-
ton ability to; pay.it. He did not pro-
pose TO draw his. political ethics from the
stock Jobbers and gamblers of Wall street.
% iar as the nom nipayment OF the DEBT
aaeeting Che creditor The Stats and her
inability to borrowithoney was concerned,
csle hoped to God she never would be able
to borrow money. The people could
support the State, and they certainly
paid enough taxes 10 do if. % He was in
favor off paying every cent the old
debt Of the State, ifit took the last shirt
of the back ofeyery man in South Caro-
Ana; but he did not propose to pay this
robbing, awindling, fraudulent debt.
Give the bondsh6ldersi back their bonds
and let theS. go to Scott and Moses and
Parker for their Interest. The fact that
the bonds had passed into innocent hands
did not validate them. The bonds were
like the note that man might give to d
ehlghway 1 g0bberi With "a revolver, al, his
cheas, saa II fhc asked when you had reached
your home and friends again would you
hesitate to repudiate such a debt and feel
no stain on your integrity 2 Under the
same condition we're these daissued.
South Carolina was in the hands, of the
most abandoned set ofrobbers that ever
existed, and they seized the pure white
hand OF our'rd0fher and Compelled irer
by force to sign those bonda; and we
could only shake our manaoled hands
q A9ndd cry cloud, touch. not those hands OF
fraud. They heard our cfy,; and laughed
( Mr. SIMPSON, offNndersou,s followed
MIL Aldrich s..c;;E'ii s.=cEE'T. advocating the
payment. Of, the interest. He said; I
am no apologist for the bonds OF tie
sDbHdholdess Of this f5late..l II fiavSl bib
anuGh prejudice against eherslaS any, bua
on this aoor b bukIf would sjfrscreaat &c
my constituents M and false e myself were
I TO let pEsjGdiea and pas'iori sway and
govern MY jddgfdene ! b the Cdiisid dgistfoii
def InnttogS Of so much iuapcstance fIithe
;tfeiials tssf IL sHa s0TeEl7 of our
cahoise. ,Mlh9iIe I aSp In asvor of paying
tho Interest On Che bonds, L will, never
CONSENT. 10 paying dhet d6tiaP until the
'entireg iboudoss TaQ QdeSt adnbsss hasinbean
closely iscrutiaize3 and Einyesiigats and
found to bs valid snd bona fde,,o There
are various classes or characters of 'ini-
debtedness: Eet me divide them FIST
claus, bondeat$ Indebtedness, B0nanza
claims, and bills osthe Bank of.the,State /;
second cleiImss a9aati 1ipddebtednesa end
contingent liabilities.I The second class
are almost Entirely fraudulent 81 taihted
by sieiding hdp ffaidalently the States
secnrities.i' These claims, &c. ARE mot
pressing upon Us aSpd We can settle them
hereafter. But the frsi-class Is different.
AS to the bills Of The Bank cf the State,
the Supreme Court. cS 'ske UhiteP States
has decided them, receiVab,S, for taxes,
and the courts of this, State have. decided
OF pdipdicatea the question and have or
9efed the treasurer to receive them; but
We are yetiih hopes of being able tosehd
the quggtidh back to- theft Supreme fObhrt
-of the United States. .As tothe, Bonanza
claims, knowing their fraudulent charac-
ter, every effort viii be made to free the
State, from, that burden, Fortunately
snese ciainis are not receivable 'fof ftaSsss.
The bonds are different, being issued in
accordance with Tire conditions ana in
the nature Of d contract, and their eou.
ponbi yrers iGEdbg Eecaivabls for taxes.
Therefore we could not repudiate them
five would, 9he coupons are receivable
tot taxes and We can't help ourselves.
10 adopt the subtitute Of the gentleman
from Gfeenvilleiwiould be lSarhfuE ali the
od.um efrepudietien without yeaping Eny
OF its benefits, and to make nc. provision
for the interest or coiinoIis. received foY
taxes w6hld before the end 81 itha year
bankrapt thegery government juatestab-
lished after so much of labor. !. / am sur
/ prised 70 hear gentlemen, advocating the
repudiating of the States honest debt
Have the ten years of darkness through
which we have passed sunk Us tb The
Iyvei OF those tgho sotg ght 10 destroy 1tis /
Instead OF lifting up our long ps6stiats
Estate and btiialiing off the mud and fiiti
| that has been cast upon her, we find some
OF hlisr own e6uS' Seeking ltU sfdmip tfial
stlll deep6f ID 10 degfedSti cfi 6S 'le
US 'c6iisid der the Afg cures: tRfeSious' RaGii
LEaN Y e1,lal at...4a h..,e -..la1ta A e,.s1e, =!
9i4, ,000, Geo. ,sieating q bonded tebt,Whef
hll the ponds afe Goasolid lidRted, of Cd, 600,
P000.! The >ahte-b ellhin' debt sYas S6..Ig8l
CO. Thus, you bee, THAT the b6tideS
debt i5 less than &C. vts9 before tiig9sgek
IN times Of danger sc Bai 10 thessh Hold
'ers5 give as ylGs hEssista nee eIIS ns cd
Of bitS 3aas,Ss ltaA SiiIf ,gal A. 3