Year: 1872

anl4@g 0Ntto"F"F'*' S'~ y" o.
S.


troduced into the House of Representatives
by Mr.. John B. Dennis, a member of the
House of Representatives from Charleston
county. Perhaps some of you may know
him. He has become extensively known
throughout the State as the furniture man of
the House of Representatives. | think he
had become chiefly distinguished for his con-
tracts in connection with the purchase of fur
niture for the House. But this Act, intro
duced by him, is evidently not his own, as it
bears internal evidence of having come from
our State Financial Board. 1t recites mod
estly, "whereas the bonds or obligations of
this State have been issued from time to time,
of large amount, in accordance, as was sup
posed by the officers issuing the same, with
the authority and provisions Of the Acts OF
the Legislature" (Which 1 have mentioned,) y
(which bonds are particularly set forth in the
report of the State Treasurer to the General
Assembly on October 31st, 1871 and, where
as, doubts have arisen whether said issues were
in strict conformity to the provisions of said
Acts; and, whereas, doubts have been raised
as to the validity of said bonds; and whereas
the credit of the State is affected thereby;
therefore, be it enacted, &C., that said bonds
and obligations were lawfully issued, and the
acts of the officers of this State, to the extent
of all issues of bonds enumerated, be in all
things ratified, confirmed and established ;
and said bonds are declared to be legal and
valid bonds Of the State"


Now, my friends, if this is not plea of
guilty entered by our Financial Board, then
confess that do not, though fifteen years a
practicing attorney, know what constitutes
that plea. 1t is nothing more nor less than
a confession of guilt. If the bonds had been
issued in accordance with law why was it ne
cessary to pass an Act ratifying and confirm
ing their issue? If they we're not issued in
accordance with law, then this Act became ab-
solutely necessary to cover the guilt of these
officers. There is no escape for our Financial
Board. They are shown to have issued,
without authority of law, at least five millions
of bonds, and, to cap the climax, they come
before the State and coolly enter the plea OF
guilty. They should have added to their plea
"God be merciful to US miserable sinners"
Laughter Now it becomes important to
know what has been done with the money of
the State during the past four years. 10
what use have the annual revenues from taxes,
and the proceeds of the sale Of these bonds,
been put. There have been collected during
the past four years about three millions seven
hundred and eighty thousand dollars by way
of taxes from the people of this State, and
there have been received from Mr.. Kimpton,
Financial Agent of the State, through whom
the bonds Of the State have been sold, about
two millions two hundred and eighty-two
dollars. Thus, from all sources, it
appears that the State officers have collected
and received about six millions and sixty
three thousand dollars.


This does not include about one million
dollars of taxes collected since January last.
What has been done with this immense sum
of money? If you look over the appropria-
tions and accounts of the expenditures during
the past four years you will find this money is
pretended to be accounted for in one way of
another, under general heads, that give no in
formation, and no one but the Treasurer can
understand You will find if you inquire of
the bondholders, however, creditors Of the
State, that it is now year since they received
a dollar of interest upon their bonds. Prob
ably one of the most startling facts in connee-
ton with this brief financial statement is that
our Financial Board have permitted to be
sold upon the market, (because that matter
was committed to them entirely by law ten
and half millions of dollars of bonds for
about two millions two hundred and eighty
two thousand dollars; thus placing weight
of debt upon the people Of this State that
cannot be discharged for years to come, and
for which they have received the most insig-
nifcant consideration. No we'll informed
man believes they sold at this rate, but am
taking them at their word. Ifno more money
than this could have been realized by the sale
of our bonds they should not have been sold.
I know it is said, with some truth, that the
present State government came into power
under great financial embarrassment. The
State Treasury was empty, and they had con-
no immediate means with which to
pay the ordinary expenditures of the govern
ment. But there was no such pressing need,
has never been one, during the last four years,
as to, in any degree, justify or require this
enormous increase of the public debt at such
a cost. The Legislature were annually in.
formed by the Governor, Treasurer and
Comptroller General, of the amount of money
needed for the coming year, and the Legisla-
ture, under their recommendation and advice,
provided for it. But in looking through all
those various appropriation Acts you will find,
by comparing them with the expenditures
Subsequently made, that the State officers
have been governed by no law in the expend-
iture of money-have not limited themselves
to the appropriations made. For example,
the Governor drew on the EARNED force" ap-
last winter, and used the money
for another purpose not contemplated in the
Act. This has been done constantly. They
have spent your money lawlessly, wastefully,
and, in my judgment, criminally. [Cries Of
"Tell it !! tell it all!]


I will now proceed to indicate to you some
of the ways and means by which the State
has been robbed, its revenues melted away
like the dew before the morning sun.


THE LAND COMMISSION.


In March, 1869, the Legislature passed an
Act to provide for the appointment of a Land
Commissioner, and to define his powers and
duties. The Act provided that the Governor,
Comptroller General, State Treasurer, Secre-
tary of State and Attorney General should
constitute an Advisory Board, and that they
should appoint suitable person to be known
as the Land Commissioner Of the State of
South Carolina. This Land Commissioner
was to hold his office at the pleasure of the
Board. 1t was made the duty of the Land
Commissioner To nurchase any lends in any