The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-01-24
AN ERROR REGARDING THE
BOND SUIT.

In the Charlotte Observer OF the 18TH
we find the following editorial, which
SO accurately expresses the views of
that we give it in full. The article
expresses our views In SO much better
language than we could put them
that We feel that we owe no apology
90 our readers for substituting The
Observers editorial for an original ar
ticle on the subject:
~"Sayoyard," the well-known Wash
ington correspondent, who has a way
OF expressing himself in terms that
are not subject to doubt as to their
meaning, and whose conclusions are
generally regarded as accurate, say
in a recent letter to The Louisville,
KY. Post, that IL he were asked what
is the most disreputable and disgrace
full thing any state of the American
sisterhood has DONE" he would not
hesitate a moment, but would name
South Dakota, which has assumed the
position of n who has received stolen
goods. Instead Of establishing ard
licensing a gambling he'll a. a gentle
manly community that needed the
money would do, south Dakota accepts
as a gift certain alleged obligations
of an infamous ~carpet-bag government
that stands IN the footing Of forged
checks" says the correspondent.
Not only this, but the state was
shameless enough to demand it's COZ
lection by the judgment of a court Of
law" continuing, "Savoyard' says:
And so South Dakota has a judS-
ment against North C~arolina-on 4
forged check. If I were not a Kentuck-
ian I would rather be a North Caro!in-
ian than anybody else, though ny
father was a Virginian. The old state
is first in war. She never was much
given to furnishing the mar Of epaulels,
but she had a great habit of sending
to the front the fellow with a muskaS
in his hand, and it was always a dan
gerous thing to be in front of that
fellow when he was in line of batti2.
North Carolina never owed an honest
dollar that she was not anxious to pay.
but every cent of this judgment is
dishonest in every particular, and its
collection will be the infamy of South
Dakota. l have no doubt North Caro-
lima will pay it, and [ have even less
doubt that every honest man every
where will look on South Dakota with
scorn and contempt"
These be nice words about Nort1
Carolina, and we of the Old North
state are proud in the belief that they
are true. AS to the action of South
Dakota in becoming a party to the
collection of the ten bonds presented
her university as a plan to bring a
suit which would not otherwise lie, It
seems to us to merit severe condemna-
tion-the lending of the power of q
state to stock spectators of the worst
type. The Evening Posts correspor-
dent is, however, mistaken in it's con,
culsion that the bonds in question were
issued by a carpet-bag legislature.
They were issued by our own people
in aid of the construction of the Wes:~
trn North Carolina railroad, and While
they brought but little over half par
in the first instance, the proceeds w.re
applied to the building Of the ROAD and
the latter Is now one of the principle
links in the Southern railway syste n,
having been sold some,years ago. North
Carolina, along with other southern
states, shortly after the war, found her.
self unable to pay all her debts. Tie
legislature, therefore, proposed to COM
promise a number of the states secu-
rites at what we were able to pay.
This offer was accepted by many bond
holdrs. but not by simon Schafer of
New York, who held certain Of its
bonds. At the instance of ex-senator
iPettigrew he recently presented ten Of
these bonds to South Dakota to be sold
for the benefit of the state university
Suit was brought for the ia &c value Of
the bonds with interest, and the su-
preme court of the United states has
awarded judgment against North Car
olina to the extent of the stock in the
North Carolina railroad pledged to the
payment of the bonds. This matter is
now before the legislature and the
whole number of outstanding bonds
may be bought by the state so as to
prevent future litigation of this charac-
ter.