The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1878-03-13
THE BOND DEBT COMPROMISE.
The Vexcd Question Summary Set
tled--A Court of .Adjudication--A
Virtual Victory for the ConsOlida-
tionists--The Battle Lost and Won
nv Both Sides.

., ,,o poud
THE oinnlltt OF 'Ghierenr' on ;'nr i'" mn
QUESTION aSroau up"i J., ~, t ~ - W thn nt,n.
80, o ',,,crs NJ ibn Gcn"rnI Assembly oIont-
t".h = wv ~, Nci,m n,,Ir ,nn JisSnntin inc
~ 'rna vote nn"n the nncstion nrpoIitrd
f S".T Tncsdav viii ccontirIn ihc, action of the
w. Iii,o .n,no rn,, ,nit,nc or Ten wcr,. in
vnstni Inv tho raucuS with authority 10 draft
Viii" ~ =. f..,,i rtia.r tn tho ,oinnro,niS So.
~ - w. cnn,n1,iusinr fpnori is now IN Inc r..
u ~" y Ennnn,,;nm onr NV Tm,"n..rhn,nsnn
S = a. prao,;u .nh ,fani, y S,nl;rn nf nS
,lI,Iicnt nrS. nnd Don J,n,cs Conncr Col. /.
a"}uutcnrotS; dI Go me u I'i pnSn ~. nsSist,ni
" &c atorn c,nnro im,rn I,.rr.
ou u r,n ~ ~ pann.vlvnn; has hrrn rn.
innn,l nirnndy. nc onn ri tI,e nsSistnnt conn.
s.I rhn t"tinyinr is the text of the co,uur0.
-, H,
"" .. ..
The committee appointed or me caucus
charged with the duty OF considering, anu !
possible OIL suggesting. some pan WHEREBY
may be adjusted the differences of opinion
between the members of the Democratic par
ty respecting the Funding. Act and the report
OF the Bond Commission thereon. respectfully
report:
ihit theS nuHe e9nielitu VIII t"v . on
anu nave uiScusseu various PiaiiH VI eo..d.
incnt; ana ,hal thrE nay nnnt! m6uIn , :,
unanimously upon TIC "uJos''heh' eie"i
suoihitteu. ,o, . .
AS tne! mnaG W'tn "pinniJnuIu ,i.,t - H."
pin tpI LIS. w M,roI.n. = m,rt " tnn
state they nave co!siuereu.nS " r.ft W. ~
saiiIc NuSJS.t, aiiu W.! SiLa' h -. mmt
lnSclaIho!f cnhntctsI ...i.M'n' Wv Mn t,.a,
SIatuils hoatiis huentSul'Sr " ''
Ihc pan OF SetlIclhcht WHICH il''u pc,i Hu,l'-
ei by a former Legislature, ana whlcli mas
been accepted by lhe majority Oh thG pohu
creditors OF the stare, lnci:tdinS lHrihS
Brothers & Co., proposed TO the holdcrc or the
State bonds, In payment or their CLAIMS
at the rate OF fifty per cent. thereof. rs Il
matter OF fair dealing all the stale crcdltorS
should be put on the same Ioolin%. me CON-
mittee have therefore inserted Il clause ProHl-
ding Tor the settlement OF INC nOitllS III
~dcbtcdneSS.
II these suggestions be adopted by thc Dem,
ocratic party the whole debt Of the state Will
soon be adjusted and settled, the unity and
integrity Of the party will be preserved, and
the future. of the Static be secured.
THOMAS B.. JETEH. Chairman.
The following proposition is submitted as n
basis of scttlelnento If the Consolidation Bonds
and Stocks and OF the Floating Indebtedness
of the state:
l.. TO levy for the current fiscal year q tax
sufficient TO pay the rouponSnmd interest or
dcrS maturing on the Consolidation Bonds
and Stocks during the present fiscal yeaIe
,. To constitute Il special court of three cir
cult Judges to be chosen by the General As
semGly on tho nomination of "A caucus, who,
shall have Jurisdiction TO hear and determine
n case or cases made I'D to test the validity Of
the various classes OF bonds and stocks men
toned in the report of the Bond Commission
as mot issued i'm accordance with law, and
authorized 10 be consolidated by the act OF
IS;}" and also "as not issued I'm accordance
with law, and further designated in Schedule
9 of said report, with the right of appeal to
the supreme Courts OF the State and United
States; the propricty Of the appeal on the
part of the State to depend on the demand Ol
the attorney-gencrul and the assistant coun-
sci or i majority of them.
3. That the General Assembly shall employ
two assistant counsel to aid the nttorncy.gGli
eral in the proceedings 10 settle the validity
OF said bOndsand stocks.
4. That the encouragement with the con
sent of the creditors, Or so many of them as
may necessary, make UP n case or eases 10 nc
tried in said court, In which, If pricticablr,
the State may be defendant, TO test the valid
ity of the bonds and stocks mentioned In
said Schedule D: bring before the court the va
rious classes or vouchers which are said l'
impair the ralidlty OF said bonds ana STOCKS
D ina as TO the coupons and interest Orders
on bonds and stocks mentioned In Schedule
OF SAID report, the same be paid; those ioi
the last fiscal year ont of the money now III
the treasury Tor that purpose, anu tIOsc ioi
the current fiscal year out Of the tax TO be
levied for that purpose.
u. That as To coupons and interest orders
on any the several classcs of bonds and stock
mentioned In said Schedule q The same be
paid out Of the taxes for the last and current
fiscal years respectively, whenever there slial
be O final adjudication. as 10 the validity o
the several classes OF bonds and stocks in IA
vor of the said bonds and stocks and agains,
the state.
!. That the said court shall meet IN the ilti
of Columbia on the first Monday In May, wiz