The Orangeburg democrat. [volume] (Orangeburg, S.C.) 1879-1881, 1879-10-03
ORAHGEBUEG, s. C., OCTOBER 1879.
Supreme Court and The Bond CUES
tion.

ton.
In June, 1877, The Legislature
adopted Joint Resolution which
provided for the appointment of Il
Commission, to consist of members
Of the House and Senate, whose duty
1T should be 10 report upon the Bond
Indebtedness OF The State. In due
.stimc this Commission made n full re-
port which in their judgment assert
That the consolidation bonds and GER
titicatcs were not issued in accord.
ance with law. The Legislature,
without affirming or disallirming the
decision Of The Commission, passed
al another Joint Resolution provid-
ing for the establishment Of what is
known as the Court Of Claims, which
should have jurisdiction over any
case made up and brought before it
to test the vitality Of any Of the con.
solidatcd bonds, coupons and ccrliG-
Gates of stock mentioned by the Com.
mission. The Acknowledgement and
his associates with the consent of the
creditors OF the State, made up q case
or cases and brought them before the
Court of Claims with the State as de-
fcndant. Upon Tie trial Of these
cases majority Of The Court render
ed their Judgment in favor Of the
State, and from these judgments the
creditors appealed and carried the
matters before tho State Supreme
Court.
The regent important decision OF
Tie highest tribunal known TO the
state seems, as near as VIC can gath
'cr from tho elaborate report given, TO
confirm the judgment Of the Court OF
.Clninas as" .Self as .iien etcis.on of
the Bond Commission. The opinion
was rendered by Associate Justice
McIvcr, Chief Justice Willard con-
curing. Associate Justice Haskell
disscnts, holding that all the consoli-
date bonds are valid obligations Of
the State.
, The decision affects all bonds and
coupons issued on tic authority of
All Act authorizing Il loan for the re-
lief Of the Treasury all issued for
exchange for conversion bonds and |
such as were Issued for exchange for
tie second issue OF bonds under an
Act authorizing Il loan 20 pay the
interest on the public dcbt-in all
amounting TO some S2,l07,5lI.
: BY an Act Of the preceding Lcgis-
latuic tic past Indebtedness Of the
State was ordered to be funded b.
paying fifty cents on the dollar III
new bonds. This decision, therefore,
of the Supreme Court will save the is
sue OF l,20i ,757lin bonds, which will
eventually Gc equal to that much act
nal money TO he paid by the tax-pay-
crs of the State.
for the sake Of getting the debt
issue out Of the next. campaign We
hope this decision will bc accepted as
The final settlement Of the only oues
uon which ia likely TO divide the
laadors Of our State III the next cicc-
tion. II is not reasonable to suppose
that the entire views of either the
creditors Or the representatives Of the
State wi be met, but the decision is
tho voice OF our highest! court and the
wisdom Of our 6cst judges, therefore,
it does not become any class of our
citizens to criticisc il caplious spir-
1T or pccyishly to quarrel over fruit
less matter. Let the party, unbur.
dercd by such IN issue, enter into
tho campaign in light marching order
and victory will crown the efforts Of
The Democracy in 1880.
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