The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-03-07
speeeh OF Hon. W. C. Brown in the
House Of Representatives on the
Bond Question.

Bond Question.
MIR. Brown, of Anderson, obtained the
floor and spoke as follows; 1t is with a
degree of embarrassment that l approach
this momentous bond question, but
feel that it is matter in which every
member ought to act calmly and dispas-
sionasely. 1t has been said that the
Democratic party is solemnly pledged to
paw every debt that is outstanding
against the State, but I emphatically
DENY this. deny that we are bound to
ray any fraudulent debts. The Green
campaign did not bind us to pay these.
Coming on down to the convention in
August, of which convention / had the
honor to be member, and a member Of
the committee appointed to draft plat
form of principles, let's see what was.
done. at that convention an executive
committee was appointed, but they had
no poyer to bind the people of the State
BY any pledge they made. They had
no power to 60 beyond the platform
which was adopted by the Democratic
convention. It is true the Wallace House
passed certain resolutions, and great
stress has been placed upon them by
those who have spoken on the opposite
side. but what was the state of the coun-
try when these resolutions were passed 2
The object upperinost in the minds OF
all the good people OF the State was to
defeat Chamberlain and his horde Of
thieves. We would have been justifiable
in making any promises in order to get
ont of their clutches. I would have
voted for anything to defeat Chamber
lain. But were these promises binding?
Everything was confusion and commo;
ton. Nobody knew what day would
bring forth. At that time in the rays OF
the morning sun glittering bayonets
were shining, upheld by Grant and his
minions. Can you tell me that anything
we 6i,l then can bind us now? Why,
we would have done anything to relieve
our beloved State. I stand here to-day
pledged to pay all honest debts. The
committee, after the most careful and
conscientious laboring for nearly SIX
months, examining everything that could
throw light on the subject, have made a
report showing their conclusions after
investigating the whole subject. Now,
can we, who have only looked at the sub
Fiect Ia q cnrsory manner, pretend to set
up our judgment as against theirs! we
ought to be bound by their report be-
cause they understand the, subject much
better than we possibly can. No law
can pass an act in which fraud enters.
Frauds yitiate any contracts. Suppose
Chamberlain should have presented fifty
millions in bonds they would have to DE
consolidated, whether issued legally or
illegally, if we be guided by those who
urge upon US to pay all the debts. DO
YOU think, Dir, we should pay those cou-
pons which were stolen from the State
and covered and consolidated? These
bonds are not legal obligations against
the State. The law required that one
million of. bonds should be issued and
they issued two millions. Now, should
we be compelled to pay this additional
million? These bonds were deposited
in vaults here and then shipped to New
York.
In May, 1871, the tax payers conven-
ton proclaimed that this million was is
sued fraudulently. Every paper in the
State published to the world that these
bonds were frauds, and that the people
of the State wene not going to pay them.
Mr.. Brown here read extracts from reso-
lutions adopted at various public meet
inps and conventions, showing the de-
termination of the people of South
Carolina not to pay any debts contracted
in fraud. And yet, in the face of all
these warnings of the tax payers, he
went on to say, gentlemen get up here
and call the holders of these bogus bonds
innocent boudholders. These scoun-
drels were aiding and abetting the Radi-
cal party all the time; and yet We hear
them called innocent creditors. They
had every opportunity of discovering
whether the bonds were genuine or not,
and if they bought worthless claims, it
was their own doing, and they are the
only ones that should suffer. Is it pos
sible for any honest man to, suppose that
these spectators were ignorant of what
they were doing when they bought these
bonds for fifteen, twenty-five and thirty
cent? on the dollar? What ground could
there be for heaping up the debts? Is
it reasonable that we should come here
and consider as sacred the bonds of
these b3oated bondholders? The ques.
tion narrows down to this, whether we
should sacrifice the bloa.ed bondholders
or force oiir honest people to pay two
millions of fraudulent debts? Is it rea-
sonable that We should 60 on and not
sustain the report Of the committee !?
They came in with an admirable report
Is it right that we should not accept this
report? Pause and think, gentlemen! !!
There lis another point of view in which
this should be considered political -
which IL one which I do not like to con-
slider, but I must do it. The Democratic
party cannot afford to carry such load
as this fraudulent debt. If you place
that load on us, men from all parts of the
State will rise up and refuse to pay it.
The niountaineers, those sturdy sons Of
toll, with their brawny arms aud sunburnt
faces, will rise up and refuse to be forced
into paying this monstrous, illegal debt,
which you are trying to saddle on them.
No. gentlemen, / cannot for q moment
believe you will do such an unjust act.
why favor Northern capitalists to the in.
Jury of our own beloved and impoverished
ponp1o7