The gold leaf., 1910-10-13
How the Repudiated Bonds Were
Issued.
From Demorrotic Headquarters.

the capture OF the next Legislature is
believed to be the deep-laid purpose
of the New York holders ofrepudiated
bonds of North Carolina to force
their payment at this late day. In
deed a committee OF these bondhold-
ers has written an insOlent letter to
| the people of North Carolina, threat
ening that If they are not paid, the
States credit will be attacked and
ruined by them and their allies. This
letter, written by one Andrews, was
replied to by Capt. S. A. Ashe recently,
who gives the history OF these bonds
and shows how the robbers did their
work. A full history OF the events
will be sent any one who writes to
Democratic headquarters at Raleigh.
From this narration, it will sui
fciently appear that the acts authori-
zing the issue Of these special tax
bonds were conceived in sin and
brought forth in iniquity. They
were the fruits of q conspiracy to de-
fraud, the result of bribery and cor
ruptiOn.
In 1866, North Carolina had an Or
derly and efficient government, COM
plete in every respect, existing under
a Constitution that had been in force
ever since 177G, long antedating the
Federal Constitution. That cOnsti-
tuition and government was recog-
nized as lawful and regular by the
President of the United States and
by the Chief Justice; but in 1867 Con-
gress annulled it, against our pro-
tests and against the protests OF the
President. The continuity of our
government was thus broken; but
"hOnest North Carolina" did not
avail herself of that circumstance to
avoid her just obligations OF her
debts she herself had therefore crea-
ted.
Congress, having Overthrown our
constitution and government, estab-
lished a military government over
our people, directing the enrolment
as voters of part of her white pop
ulatiOn and all OF the negro men.
These voters elected, under military
supervision, delegates to a con-
ventiOn, who framed a constitution,
which provided for the election of
State officers and members of a
Legislature, all male whites and
blacks, OF age, being alike voters.
This constitution was submitted to
the limited number Of voters the
military had enrolled; and at the
same time this limited number of
voters, under military supervision,
elected State officers and members of
the Legislature, about 5000 viii tes
entitled to vote under the Constitu-
ton being debarred from suffrage.
General Candy called the Legislature
together, and appointed W. W.
Holden Governor, he having been
votedfor at the election. Gov. Worth,
the lawful Governor of the State,
being compelled to vacate his office
on July l, 1868, filed a protest,
speaking for North Carolina and
saying that he did not recognize the
validity OF the election, as appears
below. In the same month, the Ma
tional Democratic party at the North
declared that the government set up
by Congress in North Carolina land
in other Southern States) was un-
constitutional, revolutionary and
void; and General Canby's Legisla-
ture, having convened, on the 2Oth
day of August, 1868, gave notice to
the world that it's authority as a
lawful body was disputed, by a reso-
luton.
At the election held in November,
1868, the great State Of New York
sustained, by a majority of ten thous-
and votes, the doctrine that the Re-
construction government establish
ed in North Carolina was revolution
ary and rullity. Certainly, all the
friends Of North Carolina in New
York City" held that opinion and so
declared by their votes. Every busi-
ness man in New York was thus put
on notice.
This Reconstruction Legislature
soon fell under the dominion of set
of free hooters, their leader being one
Littlefeld, not a PRESIDENT of the State,
who entered at once on the business
OF gathering in the spoiIs. BY Little
field, orders 100000 was paid by
SwepsOn in cash to various members,
and to others interested; and a ring
was formed who required that ten
Mt. of all bonds authorized
S I'D be paid to them. Twenty-siX
million dollars of bonds were author
lied; but before all had been issued,
| these securities fell to a few cents on
| the dollar.
Eventually these matters of cor
ruption were fully investigated, and
some honest members of the Legisla-
ture, on February Goth, 1870, forced
through bill directing the return oil
all bonds unsold to the State Treas
urer; and on March Sth, 1870, re,
pealed all acts authorizing the issue
of State bonds.
North Carolina has never recOg-
nized any obligation to pay these
special tax bonds, and, indeed, il
1880, by an amendment to the State
Constitution, the General Assembly
was expressly forbidden to pay any
money on these bonds without first
submitting the matter to the people
OF the State. This amendment was
adopted by almost unanimous vote
the vote being III 1888 for, and only
5,45S against the amendment The
same unanimity still exists. Nortl
Carolina will never recognize these
bonds as her obligations.
Chamberlain's Cough Remedy has become
famous for its cures OF coughs, colds, crouE
and influenza. Try it W hen in need 1t con