The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1878-03-15
The Bond Fight.

Mf George " Dargan, of Darlington, opened
the discussion py making an admirable argu-
ment in favor Of standing by tho consolidation
act compromise. His speech, though one of the
shortest yet made on either side of the question,
was, nevertheless, one Of remarkable power, and
denoted on orator gifted with the art Of
condensation. His remarks were in substance
as follows;
If there ever has been question discussed in
the South Carolina Legislature which has drawn
out the honest, conscientious opinions of MEM
bers, tho one which we ere now engaged in de-
batting is that question. Both sides seek the
same object--the good Of the State; both sup
ported by gentlemen Of unquestiouable integrity
and intelligence No imputation can be justly
made upon the motives or intelligence Of either
party. Tho object sought is the good Of the
State. Our people must DC relieved from the
financial embarr. ssments. How is this to be
done! The supporters of the resolution of Mr..
Hood say, by adopting the report Of the bond
commission as O basis of settlement of the pub
lie debt. 1t is assured that the adoption Of this
report will bring relief to the people; that the
cause Of our financial depression is the payment
Of heavy taxes. This l conceive to be q fatal
and palpable error. 1t can be demonstrated that
if the State Of South Carolina were this day re-
ieved from every dollar Of taxation, her people
would still DC in condition of great financial
difficulty and embarrassment. 1t can be demon
stratcd, on the other hand, that if relieved from
some Of her other burdens, even the debt of over
Sl4,000,0O0 which some, in the exercise Of q
brilliant imagination, have coujured up, would
tea thdt'nS free'pecpie ss eves ssa aSasea
taxation, although many free people have paid
higher taxes than South Carolina has ever paid.
Now, what is the amount Of taxation by which
South Carolina is to be ruined? Assuming that
it is II mills on the dollar-whch is half a mill
more than the highest cstimatc-and what would
1t amount to? One hundred and twenty dollars
annual tax on every $4,000 taxable property.
man worth $1,000 can't pay Sl20 per an
mum without being ruined. The proposition is
simply prepostcrous. But South Carolina is to
be ruined not Ly paying twelve mills, which
covers all expenses, but 10y paying three mills,
the amount ncccssaryt to pay the interest OH the
public debt, viz. Onciourth of the amount of
her whole tax goes to payment of interest on the
public debt. The owner of $40, 900, therefore,
will pay $50 toward the interest of the public
debt, tho owner of 81 900 will pay S3 the
owner of 500 will pay 80 cents, SC, and this
will bring ruin. Let the owner Of $4,000
keep his $50 per annum for ten years, and he
will have, without interest, $500. If he doubles
his money; he has $500. The owner of 81 900
would in ten years, with the same luck, be 500
richer.~.Aud yet this is the way South Carolina
IS to get rich This is the result of standing by
the report of the commission. There must be
something wrong in the logic which leads to
cause Of the financial embarrassment of South
Carolina? 1t is that we have made nothing
Our resources have not been developed. Our
energies, mental and physical, have been fet-
tered and wasted. Our fields have not been |
cultivated. Our streams have turned no mills !
Our mines have been unworked. Our young |
men have been out of employment Is it sur |
prsing that we arc poor? But why have all |
these things been so? Because the condition of
things has been such rs TO destroy public fifth |
and private credit. Much has been said of the
wrongs committed against the State of South
Carolina during the last ten years, of he mil |
lions which have been stolen from her treasury;
but the greatest crime which has been commit
ted against her has been that of robbing her Of
her good name. When she lost her good name
she became poor indeed. From that poverty
she suffers to-day. Restore that good name and
you restore credit capital will flow into the
State, our hopes and energies will revive and
We will make this desert blossom rs the rose
We have the opportunity to lift South Carolina
from her miserable condition this day Let us
not loose it, II may never come again.
Now, do not intend 70 deny that the people
Of South Carolina have felt the burden of taxa
iion. They have felt it very seriously But
they have felt it because light as the burden
has been in ITSELF it has been supcraddcd to the
burden of extreme poverty. The tax payers
have been in the condition Of the camel in the |
fable, which was so heavily loaded that single |
straw placed upon his back broke it. This straw |
of taxation has heer n greivous burden to the |
people of South Carolina But MS the straw
alone would not have been felt by the camel so
taxation alone would Se no burden to us. If we
would have relief, we must unload some of our
real burdens--the heaviest of which, in my
judgment, is bad reputation.