The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1892-03-30
The Question Of RefuudinG TIT
ROMlS,


Bonds.
In our opinion, the issues involved are moi
half as important to the citizen rs MS
own individual prosperity. Any country Is
good for the man with money, but no coun-
try on the face of the earth is good for the
moneyless man.
There Is no need to fear that the bottom will
drop out of this country. 1t survived negro
rule and it will survive every other calamity.
According to our way of thinking the re-
funding of the public debt is the greatest
question now before the people.
The defamation Of character is not an argu-
ment which should have q feathers weight
in winning votes TO the side Of the accuser.
While there is not enough in the coming
campaign TO excite personal animositieS, ana
while 1t is foolish to throw mud at each other
In performing fantastic tricks before hlsh
heaven, It is little less than insanity for us to
wash our dirty linen in the face or the men
whom we are seeking 10 induce to invest
money in our bonds.
What the people of South Carolina really
want is good credit abroad, SO that our Stale
bonds may be fioated at a low rate Of interest.
The question then is, which of the candi-
dates can float these bonds to the best advan-
tage:
Can Sheppard or Tillman most efectu"lly
perform that important mission for this peo-
Pile?
That is the question Which this people must
answer for themselves, and answering must
themselves abide the consequences.
A debt of nearly seven millions OF dollars
falls due next year. The debt is an honest one
and must be met
Before Tillman went into office our SIX pei
cent. bonds were above par, and in the cam
paign he boasted, and we believed he PROM
ised truly, that his administration would re-
fund the S tate debt at four per cent.
But since he has been in office he has been
seemingly crazed by his newly acquired pow.
er. and has kept up constant warfare VIII
first one and then another Of our citizens or
with corporations, and the credit Of the State
has been thereby so injured that our six per
cent. bonds are below par, and the PROPOSE
ton to refund the debt at four per cent has
absolutely and utterly failed.
While we believe Governor Tillman has
been actuated by honest and patriotic i'm
pulses in the discharge of his official duties,
yet we believe he has failed to inspire public
confidence In our bonds, and we further be-
lieve that instead Of refundins them at four
cent. as he promised, that he could not now
refund them at seven per cent.
We attribute the trouble about refunding
our bonds directly TO him. He and his ad-
ministration have sought to discriminate
against corporations in the matter OF taxes
While he himself was returning his own pri-
vate property at thirty or forty per cent. Of It's
true value, he used his official power TO assess
the banks and the railroads at their full value
dollar for dollar.
The enormity Of the discrimination natu-
rally excited spirit of resentment, and the
banks Of Charleston declined TO aid the gov
eminent in refunding the bonds. This gave
the credit of the State black eye at home,
and New York capitalists would not come TO
our relief We think this is the whole story
OF the depreciation Of our credit.
The people OF this country are the jury.
Tillman and Sheppard are contending for the
office which will have agency in refunding
our debt. Let us then reason together, and
let US hear them for our cause. The mere fact
as to who Is Governor doesn't matter at all 10
ninety-nine one hundredths Of the people, but
the settlement Of our debt comes hume 10 ev-
cry mothers son OF us.
Let Tillman and Sheppard be measured by
their ability to serve this people.
Let Governor Tlllmap be measured by the
gauge which he himself hath set. He said he
could float our debt at four per cent Has he
done it? Has he kept his pledge? If he has
failed, is he not wholly and truly response
BILE? Can Sheppard do any better than Till
man? Ttllman has failed. Can Sheppard do
any less?
We hope therefore the plane of this cam
paign may be raised TO the neighborhood OF
decency, and that our editors and our orators
may acquit themselves like men, and as men
Of sense let them lay aside personalities. and
speak to the great issues that confront US.
May the manners of the defamer OF charac-
ter give place TO the statesman's argument
and the logican's appeal to our sense OF right
and wrong. If we cannot have this, Is there
any reason why we should not at least have
something of the methods of the gentleman.
Let elackguardism and bulIyism have no
place In this campaign. Let Tillman and
Sheppard be heard, and then let each and ev-
cry voter act as seems best TO him, and then
let the minority abide the true event.