The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-02-01
Wesley Holds the Trumps

Wesley Holds the Trum mps.
The following letter, from law
yer of Mr.. Lylea's ability aud standing.
may we'll arrest the attention of the gen.
eral assembly +:
To the Editor of The State
| l read with much interest your edi-
toriaI in this MORNINGS issue on the
subject of the claims of the State of
South Carolina against the United
States government. aud have 20 doubt
that you are correct in the suggestion
that there are substantial grounds for
the claim set up on behalf of the State,
and as | happen to have in my posses
sion many of the old documents bearing
upon these claims, | could doubtless
supply some of the deficiencies ia the
evidence referred to by you. However,
representing Mr.. Wesley, who is a
holder. as you are aware. Of large
amounts of the revenue bond scrip of
the State Of South Carolina, [ am
obliged to call the attention of the
legislature to the fact that these claims
are pledged to Mr.. Wesley for the
security Of the revenue bond scrip
/ By 40 act approved 22d December,
1859, l2 Stats 654, entitled "Au
Act to Grant Aid to the Blue Ridge
Railroad" the comptroller general of
the State of South Carolina was author
Iized upon certain conditions to endorse
the guaranty Of the State upoo $l.000.-
600 of the bonds of the Blue Ridge
Railroad company and BY section 8
of that act it was provided ''IIl
The faith and funds of the State. and
more especially the amount now due to
this State by the general government of
the United States for vsriyus claims 90
the said Uoi.ed States for Revolutionary
services and matters growing out of the
Florida war and other matters through
the agent of the State. lately accredited
to the said government, are hereby
pledged for the redemption of the
priacipal and interest Of the said
bonds"
The conditions precedent to the guar
autee impose dby the act became i'm
possible, as appears by the recitals con-
| tanned in s.Ap act to authorize addition
al aid to the Blue Ridge Railroad
company in South Carolina" approv
ed September Is, 1868 GA Stats. 25).
where it is provided ':And whereas
the conditions imposed upon said
section seven have became impossible
aud ipjudicious. while the necessity of
the completion of said road has become
more urgent 10 the interest OF the State ;
therefore
"Sec,ion l. Be it enacted by the
senate and house of representatives of
the State OF Sonsh Carolina, now met
aod sitting in general assembly. and BY
the authority of the sane: Witbous
reference to the said provisions and
conditions. whenever ary contract OF
contracts may be made By the president
of the said company, under its seal,
aud as provided by said act. and Dot
exceeding one million of dollars, it
shall he the duty of the comptroller
general to endorse thereon that
the faith aud fluids of the State
are pied ged TO sbe faithful performance
of the said coosrscs or contracts. as re-
specss the puucsuai payment both of the
principal and interest, according to the
terms of the said cootracs or contracts:
| Provided, That 80 much of said Issue as
may be necessary. not exceeding $500,
900, shall be applied to the redemption
| of the present bonded debt Of the said
company
This act extended the provision of
the act of 1859 SO far as tue assignment
OF the clairs against the Federal gor
erpmant were concerned, sod under it
81. 900, 900 of the bonds Of the Blue
Ridge Railroad company were endorsed
by the State Of South Carolina without
couditloa or qualification. These very
bonds we're taken up by Mr.. Wesley 10
1872, and were turned over to the
State of South Carolina. and are now
IL the State treasury. ME- Wesley.
under his contract with the State,
advanced S344,0 00G in hard cash for
the purpose Of taking them up. He
recslved as security for this advance
| $1,000, 900 of the revenoe bond
scrip. which. under his coptract With
the authorities, was at once deposited
in the Carolina National bank CT this
city to be sold aud the proceeds applied
to the refundiog to him Of the amount
advanced, with interest at the rate of
I per cent. per eDaum.
Tie validity of the revenue bond
! ao-;n ic nom cnntasie6 hv the State