The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1889-01-02
Wednesday, Jan. 2, 1889.
The Credit Of the State.

Many well-meaning persons have been led
TO believe that the credit of the State is In
some mysterious way involved in the matter
of the township bonds which the Courts have
declared were issued under provisions OF q
law which was uncon stitutional. The cry ol
the holders of doubtful bonds, we believe, is
the same everywhere. and at all timeS-the
credit of the State must be preserved. We do
not know that the holder OF a fraudulent or
illegal or doubtful bond ever failed to cry out
and proclaim the dangers of reputation, and
1t is astonishing to know OF the number o!
unthinking persons who take up the cry for
the bondholder who has made mistake in
the investment Of his money.
The late effort of the Legislature to bring
discredit on the Supreme Court, has put South
Carolina in an anomalous position before the
world. The Supreme Court in its wisdom
had the nerve and the manhood to declare
the law as it stood, even though some of the
bondholders might suffer, and Immediately
the State Legislature attempts to declare val
i'd portion OF these bonds, in utter disregard
OF the opinion Of the Court and the interests
OF the people.
With the example OF such acts by the Legis-
lature, is 1t any wonder that the excited mob
should occasionally set the law at defiance,
and presume to deal out justice according to
the degree of excitement which may at the
time prevail in their own minds.
Whatever opinion the Supreme Court, as
individuals, may hold as TO the validity or
constitutionality of township bonds, we think
there Is no rool1 for doubt as to what the
Court will say of the recent validating act
OF the Legislature.
Then, will not South Carolina present Il
spectacle before the world? Her Courts de-
clare that citizens are not bound to pay town.
ship bonds which were issued by authority OF
unconstitutional law. The Legislature then
in the interests of bondholders-enact law
which can have no other effect than to bring
the Court into public contempt
The Court will, of course, set aside the I'M.
constitutional law, which has two-fold eff.
feet, viz: contempt for the Court, and the pru-
lection OF capitalists who may have been fool.
ish enough TO spend their money for bonds
which were issued in the name Of the people,
without constitutional law.
When 1t Is remembered that great corpora
tions employ the ablest and most influential
lawyers to look after their interests, and when
1t is remembered that lawyers highest duty
is to his client, it is not subject for amaze
ment when these same lawyers-who are also
lawmakers as we'll as attorneys-should eX-
ercise their influence for the corporations
whose interests they represent. 1t is not a
matter OF surprise ii corporation lawyers hoh'
estly and conscientiously believe that the Su-
preme Court erred in its decision. 1t is natu.
md rIfyI,f
and equity Of their cause, While then no
blame can attach to representatives Of corpo.
rations for their fidelity to their clients, yet
we think it is pity that so many unthinking
people should be led into the error of believ.
Ing, as they do, that it is the duty of the Leg
islature to conform the laws Of this country
TO the interests Of the holders OF doubtful
bonds, even though such acts be contrary to
the interests OF the people, and subversiye OF
the decisions Of the Supreme Court.