The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-02-21
THE PUBI.IC nggg.

=
bly, engaged in the discussion of the pub.
lie debt Of South Carolina, md upon ts
action depends the question rs to whether
the mass of fraudulent bonds Issued by
Radical official thieves shall be paid by
the toiliDg masses of South Carolina, or
whether the debt shall be limited TO the
valid obligations of the State as hereto.
fore compromised and settled. In this
great question we find the daily press of
the State standing by the settlement un.
der the Consolidation Act, regardless Of
its frauds, while few only of the week.
ly papers of South Carolina have raised
their voices against the wrong Of paying
the fraudulent and swindling portion of
it. The Mems and C5urier has been the
boldest ard ablest defender of settling
the debt rs It now stands. The Columbia
-hegister also comes to the rescue, and
urges the same settlement, and it is pos.
siblo thnt sufficient influence may be-
brolght to bear to effect this result but
we desire to repeat the protest We have
hefeioforo nade against such course.
The Commission has shown In it's report
that the bonds exchanged for detached
coupons were issued. without authority Of
law, and without any consideration 20
the State--or, in other, words, they were
clear steal--and hence, neiths. ;,.stieo
law nor liberality requires them to be
paid, and the people Of South Carolina
are TOO poor to give gratuities to the per-
eona who have robbed the State, or been
SO unfortunate us 20 trade with the rob.
hers. These bonds should be rejected,
81 The, other classes of bonds reported
sagainst by The Commisaiezs q: ,n!a stand
npon their inertia. ii the Stale received
any consideration 1t should raturn that
ut ths.a ofaettlemapt agreed on. But
the report of The Commission shows that
the Yalidating Act only recognized SUCH
bonds aa were registered as provided by
law, and bonds reported against were not
80 registered. This Registration was o
public secord, which any person buying
the bonds could have examined, and
when they failed to do SO they purchased
% their own risk, and occupy the same
position which s=a:sss:a.si would If no pur-
chased G piece Of land upon which there
Yves g amortgage. The fact that q person
purchased without knowing of the mort
gage would notrelieye hip from having
his land bcand byii... The recusd of the
mortgage was notice to the world that it
was outstanding. SO of repatriation of
State hondal It was tho Eneaas by which
persons could ascersaiA ahcther Il bond
.gas properly on tho market osnot. Ifis
was not registsrsd s person wDnld pug-
ehaba it mt their own risk. II anything
waa due omit tha-Stats ought to pay Ii,
IfBothing had been received By the State
for It nothing ought to be paid for &c.
4 But IL is urged by The Register and
Others thatltbe debt Is not as large now
as it was sIraer Governor 0rs s:s,:::s.::ss..s- ss:s:s..
tration. This may be- true, but becauao
Inc honest debt Of the State has been cut
lcwnis no reason why 4 fraudulent debt |
should be paid III its place. II any por- |
Son of the bonded debt, as it nog exists |
IS . frand, the people ought not TO- be |
taxed to pay ii We hops the I;cgisla-
turc will mako an honorable and Just aat-
clement ofit, and that is all the people |
ask. Letus pay cur just debts, but not |
sha frauds of Republican sIiiAyss. Ifthe |
Legislature makes the sssssEE EEsiiieiit oh this
basis i viii receive the plsualta of tho |
people. degite ths efforts Of che holdets |
nf frnfdniahk knnds: rs. aI>e,-. &C., -. s