The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1905-01-26
An Error Regarding the Bond Issue.

Charlotte Observer.
s.S:,vovard." the well-known v asii-
inrtou correspondent, who has way
Of pxprrs>in" himself i'll terms thar
are not subject to doubt a to Their
mea;iing. an.l whose conclusions are
generally regarded rs ;isF'urhte, Niys
in IL c,fent letter tn the Louisville.
XIV. Post. that If he "werrsi>k'"! what
il the most ,li,rrpu1nhlnhnd ti-2r;ire'-
ful thing any State OF the An'erichii
sisteriood has done. H. would not
hesitate moment. but would iihme
South Dakota. which has assumed
the position OF one who has rf''rived
stolen goods ''lnstend of establish
iIr and licpn-iny IL gambling hall as
a ntlernanly community hat need
ed the money would do. South DakO-
tn actrptS us IL gift certain alleged
obligations OF in infamous carpet
bar government that stands OH the
footing OF !, forged bank check, says
the correspondent.
Not only this, but the State walls
"ShnmrloSS enough to demand itsr"l-
lection by the Judgment OF IL court OF
law" Confirming, 'Shvoyari saws:
And so South Dakota has il judy
ment against North Caroina-on II
forged check. Ii We're nOtii Kent uck-
ian would rather he il North Caro-
linian than anybody else. though my
father W Is Il Virginian. The old State
is first in war. She never was much
given to furnishing the man of rp;ru-
Its. tut she had IL great habit OF
| sending to he front the fellow with II
muskpt in his hand. and it was al
WAYS Il dangerous thing to be- in front
uf that fellow when lie was III line oi
| battle. North Carolina never owed
an honest dollar that she w;iS not
anxious to pay. but every cent OF t his
| Judgment is dishonest in every par
| ti.nlar. and It's collection will be the
| infamv ui South Dakota. | have no
| !Oubt North Carolina will pay t.nnd
| / have ever! less doubt that every
| honest man everywhere will look on
| South Dakota with srOrn and con-
! tempt
| These be nice words about North
| Carolina. and we OF the Old North
|
RI, true. As to he action OF Snuth
Dakota III becoming Il party to the
| collection OF the ten bonds presented
| her University as IL plan to bring a
| ,uit which would not otherwise lie, it
! seems to Us to merit severe rond"m-
uatiou-l he lending of the power of Il
State to stock spertulatOrs of the
worst type. The Louisvil e Post scOr-
respondent is. however. mistaken III
his conclusion that the bonds in qups-
ton were issued by acarppt-bay LnG-
iSlaturp They were issued 10y our
own people in aid of Reconstruction
OF the Western North Ctrulinn~Rnil-
road. and while they brought but lit
tie ov"r half par i'll the first inStal.re,
he pro eds were applet to tln
building of he road and he latter i
now one OF he principal links in the
southern Railway system, having
ven sold some years ago. NOrtl
'lrnlina along with Other Southern
States. shortly after the war, fonno
herself unable to pay all her debts
The Legislature therefore, proposes
70 compromise IL number OF tbs
States securities at what We Wer'
able to pay. This Offer was accept {
by many bond-hOldpr bat not h>
Simon Srhafer of New York. who hrl
certain o! its bonds At the instance
OF ex-senator P.ttiyrew he recently
PRESENTED ten OitheSt bonds to SOut!
Dakota to be sold for the benefit O
III" State University. Silt Wa,
brought for the face value Ofthr bond
with interest. and the Supreme Cour1
VI the United ScateS has awarded
Judgment against North Carolina t.
the extent of the stock in the NOrtl
Carolina Railroad pledged to the pay
nirmt OF the bonds This matter i,
now before the Legislature and thu
whole number OF outstanding bond:
may be bought by the State SO as tt
prevent future liti CATION ofthis char
after.