The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-10-02
TIE STATE DEBT QUESTION.
Decision of the Supreme Co,r. In the BOND
Cases.
Correspondence Nems and Courier.

Correspondence Nc,rs and Courier.
COLUMBIA, s. c., Sept. q, 1879.
Tho Supreme Court this afternoon filed
its decision In tho Consolidation bond
cases, SIX In number. Tho opinion
covers fifty pages Of foolscap. The fol-
lowing Is an accurate abstract OF the
points of
G.. NJ. Walker, cashier, plaintiff, appel
liant, vs.. tho State OF South Carolina,
defendant, respondent.
+. .. feizer, PLAINTIFF, appellant, vs.. tho
State of South Carolina, defendant, re-
spondent.
Edward Sebring, plaintiff, appellant, vs..
the State of South Carolina defendant,
respondent.
Tho Bank of Charleston National Bank
Ing Association, plaintiff, appellant, VS..
tho State of South Carolina, defendant,
respondent.
Il. j. Horron, plaintiff, appellant, VS.. the
State of South Carolina, defendant, re-
spondcnt.
The Washington Light Infantry, Charles
ton, plaintiff, appellant, ys. the State OF
South Carolina, defendant, respondent
The Supreme Court decides:
First. That all the bonds issued under
hn Act entitled IAN Act to reduce tho
volume of tho public debt and provide
for tho payment Of the same," are valid
obligations of tho State of South Carolina,
lst. Such IS were issued in exchange
for bonds issued under tho Act entitled
AN Act to authorize n loan for the relief
Of the treasury or for the coupons of
such bonds. The Court decides that the
Act to authorize a loan for the relief OF
the treasury, approved 18th February,
1859, {l4th Statutes OFFS. c., P. 1927 yio-
lates Section z, Article 8, Of tho Constitu-
tlon, first, in that 1t purports to create q
debt which was not for the purpose of
deiraying expenditures, and second, in
that the debt therein sought to be created
is not for some single object, and such
object is not distinctly specified therein
and, therefore, every bond, together with
Its coupons, issued under the authority
of this act IL absolutely void, oven in the
hands OF IL bona fde holder, because issued
without any authority whatever; and
hence every Consolidation bond resting
upon such bonds or coupons Is, to the
extent that it does rest thereon, not n
valid debt of the State
I'd. Such as were issued in exchange
for tho second issue of bonds under an
act entitled IAN act to authorize State
loan to pay interest on the public debt"
or the coupons of such bonds.
3d. Such as wore issued in exchange
for those Conversion bonds which were
Issued in exchange for either of the two
CLASSES of bonds last mentioned, viz:
Bonds for relief of the treasury and tho
ooSouh ISSuo Vi DonuS 10 pay interest OH
tho public dcht, or in exchange for the
coupons OF anch Conversion bonds
Secondly. If any Consolidation Bond
rests wholly upon any of these objection
| able classes of bonds or coupons Just
mentioned: then 1t is wholly void; bat IL
1t rests only in part upon such objection
able bonds or coupons, then it Is only
void to tho extent which 1t docs rest upon
such Objectionable bonds or coupons,
and for tho balance it Is valid oblign-
ton of tho State.
| Thirdly. That the burden OF proof is
upon the State to show that any particu-
lar bond which may be brought into
question does rest either in whole OF in
part upon such objectionable bonds or
coupons, and If In part only, then the
state must show what part is so affected.
The Judgment of tho Court of Claims is
set aside and the cases are remanded to
that Court for such further proceedings
as may be necessary under the principles
herein announced.
Tho opinion of tho Court IL delivered
by Associate Justice MoIver. r
Chief Justice Willard concurs.
Associate Justice Haskell conCurs in
the general results reached by majority
Of tho Court, but dissents from the eX-
ceptions made with regard to the partic-
ular classes OF bonds included within the
terms of the Consolidation Act. ,5