The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-01-31
TEP ANDERsOa RgaOEUqloss.

In the canvAss Of 1875 all Of our po-
litical lead, y. spoke Of the fraudulent
debt Of Seath Carolinp, and promised If
the Democratic party vas returned to
power that the whole debt Of the State
should be scrutinized, and that such por-
tion of it as was shown TO be fraudulent
or illegal should not be paid by the over
buFdened people of our long oppressed
State. The people of Anderson County
we're simple and honest enough to be-
lieve that those leaders we're telling them
the Truth upon this subject, and otill bo-
iicve 1t to pc true; and hence the County
Executive Committee, in the resolutions
complained of by the News and Courier,
simply gave expression to its views as to
scope Of inquiry which they thought best
calculated to procure satisfactory end
just result. Our people arc not repudia-
tionists in any degree, and desire to SEQ
every doller justly duo the creditors Of
the state paid; but they are not in favor
of ON indiscriminate payment Of every
thing that pretends to be debt of The
State. The portion OF the debt to which
the Andsr>po resolutions object arg, first,
the illegal delt; second, the fraudulent
debt, and third, the squandered debt.
About the Illegal debt there can 30 no
controversy. No ono can reasonably
favor its payment, as it embraces the
claims against tho S.Vto which were not
issued in accordance with Law, and for
which the State received no cousidera-
ton. The fraudulent debt IL that por-
tion Of the pretended debt which was
Issued without any necessity on the part
Of the public officers aud placed upon
the market without scceiying al ade-
quate consideration. OF course, TO in.
validate this part of the debt, it is noccs.
sary to prove, either positively or circum-
st-ntially, that the purchasers were
acquainted with the nature of the trans
action, or by reasonable inquiry could
have made themselves 80 acquainted.
AS an example of this class Of pretended
Indebtedness, we would instance the by.
pothecation Of large amount Of bonds
in Now York by Kimpton. for small
loan, and their subsequent forfeiture at O
mere trine. All the parties 10 this knew
that it was swindle, end they obtained
no equities under It. Now, we favor the
rofuaal of payment Of the whole Of these
, securities upon the well.established prin.
ciple Of law. that whore fraud enters into
o transaction even court Of equity viii
not trouble to separate the just from The
fraudulent portion of tho transaction
Neither is Stats under any obligation
to do so. The portion Of the debt which
was squandered 10 very clearly repreaen
ted by such claims as the Land Commits
sion Bonds. The people of the Unitat
States knew full we'll that ne were under
the government of party. Of thieves
and when they loaned them money Il
was done .5r the pyiEposo of fastening
usurpation upon ua the most unprinci
pied that ever cursed any psopls, and il
a certain degree they were parties TO The
frand. We would be perfectly willing L
give them ell that she State received fol
the debts which they hold, as, for In
stance. The iands tha gtats obtained n,
the Land Cornmisaion Bonds, Every
. one who loaned South Cayolina monsy
knew thew were running a. rislr and tbr
price at which the bonds Gold indicated
clearly a suspicion tbss ali vos not r;oh,
and proper; hence. If .he State Gives all n
abe got for tho money the eou;.las "a of The
transaction would not have anv violence
done them.
Nov. what the Ne,p, and C,urie,. aava
about Den,o,ccra,t,a voting eo, tho Consoi;.
dation Act being a pledge Of The n,artv
has no force whatever ;n it for abey ,-ere
simnly aot;na, as ;nd;yiduo,s ~ 80 80
in q bopeIess minority. There W ,yac no 70
party caucus but Il was aoted On a. he
best that could bo done n,pder tba cir.
cumstances. Tha graat mi.tsLe .,0h,oh
our contemnororv maLea l. tha. i. a,,r
poses We Visb 70 ovarthyov The conso,;.
dation Act sucf a not tbs cass We
onlvwish q t,linjns.e The f,snds S, 'fson, = =
and nraru ia.zvar lnns.a .hsA s.a..., lii
ha sl;aia=4s.. e ~ -. -
The courta of tba tana hos,as.. lA.. !.
NAV Re d;seovssss; ~ nror,;.o. 80 - AZ ~
lTsg;s,strr. M nar. ar..,,a - :. : .ns =
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