The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-02-06

iavor on the negro, he can best accom-
plish his end by lo..ing the RAGS alone.
1t is better able to take care of itself
than he il to take care OF it, for he knows
nothing about the subject.
The Neps and Courier says that Mr..
Edward King, in letter to the Boston
Journal, "gives some Of the reasons why
Northern capitalists do not start manu-
f.ctures in the South. They have read
the wild stories Of the correspondents Of
such newspapers as the New York Tines
and Tribune, until they believe that there
is no Settled government in the South.
Besides this, they fear that the public
debt will be repudisted, and that their
property will not be worth anything for
any length of time.'" Our contempo-
rary says as to the first point, "the South
will live it down." and then concludes ::
at is the repudiation talk that does the
real harm. Louisiana and South Caro-
lima could have commanded capital with
out limit, had the Democratic govern
ments continued 10 pay the interest on
their debt. As it is, the man who has
money to lend shuns the South, and o
wreck Of public and private credit is
threatened. Purely as matter Of busi-
ness, it was wiser to pay than to fight"
This is all mere assertion, without the
slightest foundation. To begin with,
there is no talk of repudiaiion in South
Carolina, and every dollar which the
State honestly owes will bo admitted by
all, and provision made for its payment.
If South Carolina has the finger of scorn
pointed at her as repudiationist, it will
bo because her daily papers have not
presented to the world full and candid
statement of tho financial question, and
have themselves raised tiiu Cry os ToP;:
diation, in order to secure the payment
of portion of the pretended debt which
they admit was created in fraud and cor
ruption, without any benefit to the State
or her people. If it is repudistion to
silt the valid debt from that which is
fraudulent, then there is reputation
party in the State, but not otherwise. A
majority of the members of the Legisla-
ture which created the fraudulent por-
tion of the debt, and majority of the
Legislature which passed the Consolida-
tion Act, have been proven to have &C.
ccpted bribes, and the Secretary of State,
Cardozo, afterwards Treasurer, vino Issued
these bonds and exchanged them, is
convicted of corruption in Office, and
under sentence of imprisonment for his
official crimes, while Chamberlain, Kimp-
ton, and his other associates in the work,
are fugitives from justice. II, therefore,
it is repudiation to eliminate the fraud
from the settlement made by such rascals
as these, then there is a repudiation party
in this State, but not otherwise. Therefore,
if the charge of repudiation is made
against South Carolina, it is go utterly
unsupported by the facts that it will be
a very easy matter for us to Ire IL do,pu
also. But the views advanced by the
Ne,rs and Courier are at variance with
the facts for another reason, which is
that the financial condition of the State
has, up to this time, had very little to dc
with the location Of manufactures in
the South. Georgia has repudiated eight
million dollars that was as strong an OBJ.
legation as any portion of our debt which
was created by the Radicals, and yet hel
credit to-day Is in most healthy condi.
tion, and her bonds arc considered an
excellent investment. Despite thi;
financial prosperity Of the State o.
Georgia, she has no moro cotton manu-
factories to-day in proportion to area OF
population than South Carolina has
The true reason that factories have mo-
been built up more rapidly in our midst
is that Northern capital has not become
fully satisfied that tho party Of intteiiiii
genee and patriotism will continue ir
possession of our State governments
Very little viii be dono in the direction
of building up manufactures anywhere
now until after the next Presidential
election, and then If our own people dc
not stab the reputation of our State by
charging Wholesale repudistion, wher
they know there is no such intention. the
State of South Carolina will no doubt
! gain as much by immigration as any O
her Southern sisters.