Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1879-01-09

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tintsSduced eatsy the seas ion by ii RESOLUTION
proposing to repoal The aSt of the last Assem-
bly,, which created special Court, to test
tho validity Of the bonds which were funded
under the Consolidation Act of December
1873. 1t will be remembered that tho Legiss
lature OF l876-77, acting upon the suggestion
of His Excellenoy Governor Hampton, in his
tlrst mossage, appointed q committee to mako
asorutinising investigation of tho bonded dcbt
OF our State This committee. aftor thor,
ough and exhaustive examination of all the
public records. presented theie report, show.
ing that over three millions of dollars hnd
been Illegally funded under tho Consolidation
ACT, and thoref'rc not binding obligations Of
tho State. Aftcr u long and nbe discussion
of the report, it was discovered that the Geno,
raj Assembly was at q "dcad lock-" While
a mnjority OF the Democratic members were
in favor of sustaining the report, and thereby
eliminating the fraudulent portion of our debt
it became apparent that upon an ontiro vote
Of both Democrats and Republcansa tho
House would 60 for the paynient of the entire
debt and the Scnate would bo opposed to such
payment. Tho session of tho Legislature
had already been protracted beyond what was
anticipated; the patience of tho people had
been exhausted. tho press of tho State was
camorous fer adjournment, and tho members
themselves, q majority of whom were farmers.
wanted to 60 homo and look after their farm>
ing interests. At this juncturc. and under
these circumstances, n Democratic Caucus
was hold and the whole matter was compro-
mised, by agreeing to crca,ca special court,
which was to mako q free, full aud impartial
investigation. and render decision. This
court was organized and had several sittings
during the year but owing. rs it was said,
to the inability of the Attorney General aided
by the Suite Assistant Counsel aud Governor
Hampton, to procure tho evidence of H. II. /.
kimpton, who was the Financial gent of the
State at the time the debt complained Of was
contracted, or tho evidence Of his books, had
delayed making their decision 1t was ap-
pretended BY u large portion of the General
Assembly that if the court was forced to u
decision without this evidence the verdict
would be decree against the State, and this
decision would be lnnl. The court, however,
has since decided sustaining the report of the
Committee Of Investigation, but the bond
holders have entered an appeal. When it
can DC shown that morality and equity require
tue payment Of II fraudulent debt then will
the people Of this State be willing to pay tho
three millions of dollars.
Next in Importance to the public debt was
the proper disposition of the phosphate mines
belonging to our State. Thp last Legislature
was induced by the reports Of the Attorney
General and the Phosphate Inspector to adopt
the plan Of what ia known as the "exclusivc
right that is. the granting to companies the
exclusive right to dig and mine on certain
assigned territory, upon the payment by said
companies to tho State royalty Of 10 per
ton for every ton of rock dug. 1t was made
to appear that this disposition of the phoS-
phatic beds wculd yield much larger income
to the State than she had ever received
Contrary to expectation. however, the returns
f'r tie past year amount to only S93 900.
Many Of the companies which were incorpo,
rated aud had territory assigned them have
disbandel and returned their charters to The
State. The reason given is that the rock
found in the streams s, assigned was below
the standard grade, aud therefore unmcrchant
able. Tho standard grade is 55 per cent of
phosphate, at the opening Of tho session
there was very general disposition among
the members to wo.k these mines in the
interest Of the State with tho convicts in
our PenicntiarY, but tho failures made by so
many companies engaged in the business of
mining induced them to abandon the expert.
mcnt. Now as q member Of the committee
which investigated this matter, | learned
enough IS convince nc that the State is no,
receiving what she ou;h; II receive from those
deposits, and while j, may be true that com,
penics have disbnnded. parties connected with
them must havo mado money. The average
price paid by the phosphate con! panics 10
laborers for getting the rock from The yiger
beds is I.50 per ton. 1t is then sold by these
companies to exporters Mt from $50 to SS. .OU
per ton to transport it to England, where it is
readily sold at frnm Sl8 to $2l rcr ton
Nearly two hundred vessels were engaged in
transporting this rock from the wbarvcs Of the
Coosaw Company alone From this some
idea may be formed Of the extent Of this pboss
phate business. The plan adopted by tho
Legislature was to grant u general right upon
payment of the royalty of $l.l0 per ton to dig
and mino upon any unocoupicd territory.
This will enable the Legislature next session
to determine which is bcst for the State, tho
exclusive or II" eneral rights system, see
that the representative of companies manuac"
turing commercial fertilizers have recently
held meeting in Augusta at which it was