The news and herald. (Winnsboro, S.C.) 1877-1900, 1877-12-01


Governor Halnpton's annual mos
sage TO the Legislature was sent ir
on the 2Sth ult., and road before both
houses The principal portions are
hero giyen.-Aftor cong:A:ul.tins
tho members upon tho improved
cons siCion Of affairs in South Ctroii-
nN. tho governor touches upon tho
salient points Of tao work before the
Legislature, as follows
Firstin Importance is tho fnan-
clal condition of the State, for until
this is satisfactorily settled all
hopes Of returning prosperity will
prove delusive.
Tne credit of tho State must be
returned to, nnd maintained at, it's
ancient high character, before we
can make good our promises Of re-
form, or can expect her to take the
proud position she once held, and
to waich it should ho our highest
duty and our noblest ambition to
restore her. THIS object can, 1 ieel
convinced, bo accomplished by this
General Assembly without imposing
upon cur impoverished people an
enoiilous lurLAen. X
RepudiaIlon would bring inevitable
disaster and would entail :ndelible
disgrace. Tne public dobt can
surely be SO adj listed that, while the
welfare of the State is carefully
guarded, the rights Of creditors
shall not be violated or impaired.
The very fact that a State can cx-
crcise powers in questions .. tn,s
nature against willch no Remedy
exists, should make it's Legislature
doubly careful Of tho interest OF
creditors whose sole protectun is
in the honor Of their debtols. 4
Unless some provision be
made to meet tho obligations of tho
State when thoy fall due, we shall
be subjected to great embarvass-
mont, and perhaps loss, as tho State
VIII be forced to Issue now bonds in
order to take up the outstanding
ones. This system Of Borrowing 70
pay our debts will hamper our pco
pie and may impair the c;e,!it Of or
state. There arc grave objections,
to Il sinking fund, the STRONGEST oi
which is that it may he li,crtcd,
mder emergencies, from lis icr,ti
mate purpose. TO ssmrA a,ulHs5
this contingency, hns At t..e sanlu
time to provide for the gradual pay
ment OF the public dob., / advise
that special annual tax Of ones
bali aiil be levied, the proceeds OF
wHirn shall be pl,ccl in tao hands
Of the Treasurer of the State, VINO
shall be directed to buy III the bonds
OF Tho State annually to the extent
Of the fund SO raised. It will be
readily seen how profitable to the
State such plan would DO while
the bonds are below par. Tho pro
goods Of such q lax as has been in
dicated could at the present time
retire bonds to the alnolMt II S1Ol,-
600, realizing to the SITE :; profit
Of twenty five or thirty per cent
The public debt could be gradually
but surely reduced, whiIo the bur.
thcn Of paying it in this manner
would fall lightly on the taxpayers
/ merely suggest such systom,
leaving it's practicability and it's
details to the wisdom ant expe-
rjpnce OF the General Assembly.
Another subject Of vital conse {.
quenco to our material prosperity,
to which l. beg to call your atten~
ton, is that Of
THE FREE SCHOOLS,
The Superintonden mt of Education,
in his annual report. gives not only
the result Of his labors duriny the
past yoar, but makes suggestions
worthy of your grave consideration.
Owing to circumstances with which
you are familiar, the facilities for
tho education Of our people have
not been, Us yet, what we desired
and expected them to be. We must
not forget that among tho pledges
Of reform made by us there is mono
to which we are moro solcmnly
committed than that of placing