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 in all her securi.
ties prevailed among capitalists, North
and South. To ouch an extent had fraud
end corruption prevailed in che manages
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 ,..ese
Investments were to capitalists fruitful
sources Of litigation, and they we're not
unfrequently driven, at grea; eacrifices,
to resort to the Supreme Court 10 enforce
their rights. Reputation was openly
advocated aud generally apprehcnded,
and widespread dissatisfaction and dia:
trust pervaded tho mind of the public.
To distinguish between the valid and
fraudulent debt OF the State was next TO
impossible. and as a consequence, men
with funds to invest found 1t necessary to
employ attorneys to advise and protect
them in their dealings in South Carolina
securities. We were, ut this juncture aud
under these circumstances, employed by
these gentlemen. at first we, az is Gus
tomary, demanded retainer, but were
prevailed upon to accept contingent feo
out OF the etprofts 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 dssi-
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
4 happening to meet Messrs. Childs,
Southern and Everett upon Nassau street,
the latter gentleman, whom until then t
had never seen, was introduced to me for
the nrst time; o memorandum of agree.
ment embodying, as MIR. Everett said our
contract OF service, wac presented &c 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 I.
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 repudiatiop of the public
debt, bat would use our endeavors tc re-
store TO its proper value her lawful bonded
dabt. Without bestowing upon the paper
much thought, we assured him that we
favored the payment of the honeat debt
of the State, were opposed on principle
to repudiation, and did not object to do,
in our professional capacity as attorneys,
what accorded fully with the views OF
public policy which VIC entertained as
citizens of the State. I referred them to
the "pnhlic meeting" mentioned in the
written agreement, and informed Mr..
Everett that I could not attend such
meeting in Columbia, s. O., on the third
day of, May, 1871, as private business of
. pressing nature required me to be then
Is Arkansas. IN that year Gen. Butler
and / were engaged in the business of
life insurance in this ST.. .;s, and it was
then Gen. Buffers purpose to become, as
he afterwards did, q resident of this city.
The meeting, as we understood, referred
to Ia the memorandum was one to be
held by the citizens ef Colnmhia tgith
reference 10 the public affairs of the State.
and possibly (but of this I have no dis.
tinct reIollection) for the purpose cf 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 l1y
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.
ceeGings. Msssrs. Childs and Southern
SAID they. did not suggest the written
memorandum or insist ON its axecn.ien,
but Mr. Everett eaid he desired {. % a
cheoA 70 any action on our part as citi-
zens which, by stimulating q spirit of
veStments disastrous, and stated that he
cared nothing about the contemplated
public meeting in Columbia, and absence
therefrom was o matter of indulgence TO
him. With this explanation We signed
the agreement as attorneys at law. AT
ehi5 time, april IL, 1871, Mother General
Butler nor 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 q public meeting
to be held in Columbia.
Leaving New York, / proceeded uirect-
ly to Arkansap, and having finished my
business, / returned, reaching homo on
the night of May 8, 1871. On the fol-
lowing day, which was jsaledsy, our citi-
Gems met and chose Ms delegates 90 the
Convention Gen. M. G. Butler, JIs. 81.
Giles, 0. Sheppard, Esq, Col. A. p. But
ler, Gov. NJ. L. Bonham and myself. On
the assembling of the Convention was
nominated for President, as was also the
Hon. w. d. Porter. declined the nom-
ination in the following words:
II am heretnot as an aspirant for any
Office within the right of this Convention,
but as a representative of the people oi
Ed ssdsAfeld Since the .es..!.s &c .he .as
have been so disastrous to us, must con.
fess that whatever ambition might have
had previous to that time / have none
now. i am, therefore, unwilling that, by
thesuse of my name, the harmony of this
Convention should he. disturbed. do
sa::.s thai AZ a ;iilIe like the pfesonJ
when we are oppressed, " ahonld present
q solid front; we should have no differ.
ence between US. Actaeted by t9exs
feelings, must decline the nomination. .
An examination of the published pro-
ceedings of the Convention will show
that introduced but three resolutions
two extending the privileges of the floor
to friends, and one upon tho subject oi
cumulative voting. In my speech In
support of TINT measure 4 fnok occaEiou