The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1912-02-14
GOVERNOR BLEASE is
FLATLY CONTRAD!CTED
Treasurer Jennings Gives Information
as to the Loan for Which Governor
Blease Claimed Credit.

NiiNS
as to the Loan for Which Governor
Blease Claimed Credit.
Treasurer Jennings last Tuesday ad-
dressed communication 10 the House
of Representatives in regard TO the
money borrowed by the state last sum
mer and about which so much has been
said by Governor Blease and others.
II will be remembered that Gov. Blease
claimed tha; it was through his in
fiuence and foresight that the money
was secured at the low rate OF per
cent, claiming that this low rate had
never been before equalled by pre-
vious administrations. He also claim
ed that the part of the loan on deposit
not being used by the state was draw
ing interest, thus making the rate even
lower than it really appeared. 1t was
also stated by him that twenty per
cent of the loan at times had to be
left on deposit at the bank making
the loan.
Treasurer Jennings corrected the
statements made by Gov. Blease and
Gov. Blease replied by declaring that
anybody who said that the loan was
not made just as he had said. was
malicious falsehood. The legislature
thereupon gave NIr Jennings the
right TO give his side of the case. The
letter of last Tuesday resulted. 1t is
as follows:
To the Honorable. the General AS
sembly of the State OF South Caro-
lima
Gentlemen. gratefully accept
the permission extended to me 20 sub
NIT this communication TO your hon
orable body in regard TO the money
borrowed for the use of the State in
1911. In presenting this matter 1
respectfully submit the entire record
10 show that no contract. either writ
ten or oral, was entered into, by
which the money borrowed was to
bear interest while on deposit.
Pursuant 10 an act passed in 1911
authorizing the governor, comptrol-
Ter general and treasurer to borrow
for the use of the State $500 God. if
so much be necessary. ! addressed
letters on the 1lth of April 1911. TO
several bankers who had expressed a
desire TO handle the States notes. re-
questing that they submit PROPOSE
tions. not later than April IL Among
the bids submitted was one by j. p
Matthews. who is cashier OF the Pal
metto National Bank OF Columbia,
as follows;
Capt. r. H. Jennings Treasurer OF the
State of South Carolina Columbia
s. c
Dear Sir: Complying with Your
request in reference to loan to the
State OF South Carolina, 100000 TO
100000, beg TO advise that il will
be my pleasure 10 make YOU rate
of per cent If the entire amount
is not wanted now. | Will be glad 70
make rate OF 3le per cent, the
money 10 be used as needed.
If, however. am granted the priyi-
lege OF representing the State as !
have done in the past will 90 "a
New York with a representative OF
the State of South Carolina and ct
the very best rate that !, is possible
TO obtain, giving the State the benefit
OF my connection and OF my expe-
4A l4d4Ni4I46 NA-C oNitE = paper
You know l have handled it for the
last several years. and it has been
my pleasure TO have taken care of the
State on all renewals requested. II
you will recall. during the panic ]
handled for the State renewal OF
100000 at the same rate enjoyed
during the easy money market.
My bid contemplates taking care OF
the paper when due, taking from the
State your checks on various banks
throughout South Carolina might
say for your information that l have
had TO pay as much as sl50 per thou
sand 10 collect some OF the items taken
in payment OF your notes.
believe ii would be 10 the inter
est of the State to let me take rep
resentatiYe TO New York and effect
the best arrangement possible
This bid is submitted with the un-
derstanding that the paper is 10 ..
delivered TO me promptly If my bid
is accepted
Yours very truly
CSigned) P Matthews.
Bids Were Opened.
On the day fixed April j., the gov.
ernor was absent Comptroller Gen.