The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-31
MR.. PRICE GIVES HIS VIEWS.

When the suit against the State brought
by South Dakota was commenced, Mr..
FabiIs FL Busbee, attorney of the South
ern Railway, wrote an article in the
Morning Post (organ of the Southern
Railway in which he said that parties
in New York had talked with him about
the possibility of compelling the payment
of these repudiated bonds. He had, as an
attorney for owners, drawn a bill giving
courts, which bill the Legislature declined
to pass. Mr.. Busbee denied that tile
Southern Railway had any interest, near
or remote, in the suit.
Now comes Mr.. Charles Price, also at
torney for the Southern Railway, who
writes a two-column article in Sundays
Charlotte Observer, about the bonds and
advises the State authorities to pay the
bonds owned by South Dakota. It seems
that he too, like Mr.. Busbee, had been
consulted about bringing suit on these
bonds, for he says: 81 have given much
consideration to this matter, havingftwo
years ago been consulted by Northern
clients about the advisability of bringing
a similar suit He then prefaces
his article by saying that as
a member of the convention in 1875
he voted against the payment of any of
these bonds, but adds by way of pleading
the baby act: cat that time / was very
young, being hot-headed intolerant
Democrat and HAD NEVER THOUGHT
OF ANYTHING SERIOUSLY Did any
able man-for Mr.. Price is an able man
ever sign his name to such remarkable
think of it, the bulk of the people Of
North Carolina will appeal from Charles
read lawyer and Republican, to Charles
Price, the hot-headed young Democrat
whose ardent love for his State and her
honor and whose detestation for the car
pet-baggers who had stole all that was
in sight and mortgaged the future was
so great that he voted never to pay a
dollar of the repudiated bonds. He was
wiser and better friend of this State
then than now!
He then discusses the cause of the pas
sage Of the eleventh amendment and the
various suits brought under it, declares
South Dakota has against North Carolina, .
and argues that the eleventh amendment
is no inhibition against prosecuting this
suit. The result of his long and ingenious
argument is summed up in these para
graphs:
This is a very serious question one
which, 4 feel will in the near = future
give our State trouble. | fear the real
purpose of the suit is to establish q jul
risdiction and then test the validity of
the amendment of 1875 to the constitu
ton of North Carolina repudating the
special tax bonds.
Looking at the matter now as law
yer / think the bonds valid in law and
a part of the debt of the State. Our
salvation has been the want of juris-
diction in any court to enforce their
payment.
my opinion is that there is no escape
from an adverse decree in the South
Dakota case.
Il think your duty as the leading
journalist in the State, is, to advise the
Govrnor. to adjust this matter at once.
The jurisdiction being established under
well-known principles of equity, all hold
ers of bonds of the issue to which these
belong, whether private citizens, or
States, will be entitled to prove their
claims and participate in the distribu-
tion of the fund, arising from the sale
of the States stock in the North Car
Dina Railroad Company.
The amount due upon the ten Q0)
bonds sued upon, is less than $4,000. II
raid there will be an end of the matter.
If not, trouble will ensue. The Governor
should take this responsibility and take
it at once. Public sentiment demands it.
Public good demands it,
This is the most remarkable letter
that has appeared in North Carolina in
the new century. certainly, if not in the
last hundred years. Though Mr. Price
and the editor of the Charlotte Obser-
yer, 1.-THE leading journalist in the State, .
agree upon McKinleyism, SO far the edi-
tor mas not advised the Governor to ad-
just this matter at once" If Mr.. Price
is right in supposing that this suit is
brought in order to secure jurisdiction to
bring suit for the payment of all the
rerudiated debt of the State, it seems
that the time to tight and defeat obtaining
such jurisdiction is when an attempt is
made to secure it. If the State should
pay the bonds which South Dakota holds
how could it refuse in equity to pay the
others?
The truth is that there are deep laid
CASTCRIA forlrfants and Children