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

| time the credit OF the state was greatly
impaired, her bonds depressed in market
and widespread distrust i'll all her securi'
ties prevailed among capitalists, North
and South. To such an extent had fraud
and corruption prevailed in the manage
ment of the finances of the State that
capitalists everywhere were timid and
cautious in investing in South Carolina
bonds and stocks. The records of the
courts of the State showed that these
investments were to capitalists fruitful
sources of litigation, and they were not
unfrequently driven, at great sacrifices,
to resort to the Supreme Court to enforce
their rights. Reputation was openly
advocated and generally a!pprehend.sd
and widespread dissatisfaction and dis
trust peryaded the mind of the public.
To distinguish between the valid and
| fraudulent debt OF the State was next to
impossible, and as consequence, men
with funds to invest found it necessary to
employ attorneys to advise and protect
them in their dealings in South Carolina
securities. We were, at this juncture and
under these circumstances, employed by
these gentlemen. At first we, as is Gus
tomary, demanded a retainer, but were
prevailed upon to accept a contingent fee
out of the net profits of the contemplated
investment, should it prove successful,
and otherwise nothing. Before employ
ing US, these gentlemen ascertained our
views as to the true policy of the people
of the State touching the question of the
public debt. Then as now we entertained
and freely expressed the opinion that the
valid debt of the State ought to be paid.
A public declaration to this effect by the
taxpayers of the State and an ascertain
ment, as far as could be, of the valid
and fraudulent debt of the State was de-
manded by her best citizens. All felt
that no efforts should be spared to dissi-
pate the cloud that enveloped the condi-
ton of her finances, and to restore credit
to the State. Several days after being
retained as attorneys, General Butler and
I, happening to meet Messrs. Childs,
Southern and Everett upon Nassau street,
the latter gentleman, whom until then l
had never seen, was introduced to me for
the first time; memorandum of agree
ment embodying, as Mr.. Everett said, our
contract of service, was presented to US
by him, and our approval and signature
requested. To questions propounded by
US, after hasty examination of the paper
and in explanation of its contents, Mr..
Everett stated that General Butler and l,
though represented as prominent citizens
of South Carolina, were personally
strangers to him, and that, before en-
barking in an enterprise of such magni-
tude, he would like to have some assur-
ance that we would not use our influence
to break down the credit of the State by
advocating the reputation of the public
debt, but would use our endeavors to re-
store to its proper value her lawful bonded
debt. Without bestowing upon the paper
much thought, we assured him that we
favored the payment of the honest debt
of the State, were opposed on principle
to reputation, and did not object to do,
in our professional capacity as attorneys,
what accorded fully with the views of
public policy which we entertained as
citizens of the State. I referred them to
the "public meeting" mentioned in the
written agreement, and informed Mr..
Everett that I could not attend such q
meeting in Columbia, S. c., on the third
day of May, 1871, as private business of
q pressing nature required me to be then
in Arkansas. In that year Gen. Butler
and I were engaged in the business of
life insurance in this State, and it was
then Gen. Buffers purpose to become, as
he afterwards did, a resident of this city.
The meeting, as we understood, referred
to in the memorandum was one to be
held By the citizens of Columbia with
reference to the public affairs of the State,
and possibly (but of this I have no dis
tinct recollection) for the purpose of ap-
pointing delegates to the Taxpayers
Convention afterwards held in this city.
At that time was not in political life,
and was giving exclusive attention to my
private affairs and professional business,
and not only had no agency in bringing
about the meeting of this convention,
but did not expect to take part in its pro-
ceedings. Messrs. Childs and Southern
said they did not suggest the written
memorandum or insist on its execution,
but Mr.. Everett said he desired it as a
check to any action on our part as citi-
zens which, by stimulating spirit OF
reputation, would render his heavy in
vestments disastrous, and stated that he
cared nothing about the contemplated
public meeting in Columbia, and absence
therefrom was matter of indifference to
him. With this explanation We signed
the agreement as attorneys at law. AT
this time, April II, 1871, neither General
Butler nor I had heen chosen to attend
the Tax-Payers' Convention, which met
on the 9th of May following, nor did we
attach any importance to so much of the
agreement as referred to public meeting
to be held in Columbia.
Leaving New York, l proceeded direct
ly to Arkansas, and having finished my
business, 1 returned, reaching home on
the night of May 5, 1871. On the fol
lowing day, which was saledsy, our citi-
zens met and chose as delegates TO the
Convention Gen. M. G. Butler, Jas. 81.
Giles, o. Sheppard, Esq, Col. A. P. But,
Ter, Gov. NJ. L. Bonham and myself On
the assembling of the Convention I was
nominated for President, as was also the
Hon. w. D. Porter. Ideclined the nom
ination in the following words:
~ am here not as an aspirant for any
Office within the right of this Convention
but as representative of the people oi
Edgefield. Since the results of the Wal
have been so disastrous 10 US, must con.
fess that whatever ambition l might have
had previous to that time 1 have none
now. 1 am, therefore, unwilling that, by
the use of my name, the harmony of thi;
Convention should be disturbed. dc
think that at time like the present
when We are oppressed, we should present
a solid front; we should have no differ
ence between us. Actuated by these
feelings, I must decline the nomination
An examination of the published pro
ceedings of the Convention will show
that l introduced but three resolutions
two extending the privileges of the flcol
to friends, and one upon the subject o.
cumulative voting. In my speech ir
support of that measure l took occasion
| - 700 fbo fo1lou;rn lonouoOa.