Only a couple of years after its historic raising — which brought positive international attention to our state — the world’s first successful combat submarine is under attack again. The Hunley project has been assailed by a Lowcountry political candidate who is using misinformation to score points against his opponent. Unfortunately, those allegations have also been reported by the media.

The scrutiny of the Hunley project is not really about mismanagement or lack of success. The opposite is true. It is a well-managed project that has brought millions of dollars into our economy, revitalized a naval base, won national awards and developed new technology. Currently, it is also almost entirely supported by private donations — with the exception of security service, the Hunley project has not received any state money since 2001. Even federal dollars make up only around 25 percent of this year’s budget.

The negative focus on the Hunley project is a political swipe at Sen. Glenn McConnell of Charleston, who serves as chairman of the Hunley Commission. The commission was authorized by state law to oversee the recovery and conservation of the Hunley in 1996 “to ensure that the submarine... remain in South Carolina in perpetuity and (that it be) displayed in an appropriate manner for the benefit of future generations.”

Under this broad authority the commission formed a nonprofit foundation called Friends of the Hunley to help achieve its mission. That decision reflects a positive trend in government toward public-private partnerships, and it has proven very successful for the Hunley.

Sen. McConnell, a strong supporter of government accountability and fiscal responsibility, should be thanked for his ardent support of the submarine. It would cost our state a fortune to buy the kind of positive exposure that the Hunley has generated in news reports, magazines and even television specials.

Because of that widespread attention, almost a quarter of a million people from all 50 states and 20 countries have visited our state to see the submarine.

The Hunley is a public-private partnership that works — exactly the kind of measure that taxpayers want more of. Many public agencies in South Carolina, including universities and a variety of service programs, have formed private foundations to help raise private dollars to supplement public funding. That arrangement takes pressure off taxpayers to foot the whole bill, and still allows worthy projects and institutions to be viable.

Contrary to hints in news reports, there is no lack of accountability on the Hunley. Public funds appropriated to the project are based on detailed budgets approved by federal or state authorities. The Hunley project’s financial records are also examined regularly by an independent auditing firm. Those audits are filed with the S.C. secretary of state’s office and available for inspection.

There is nothing improper or imprudent about putting private money raised for the Hunley back into the exhibit rather than sending it to Columbia. It makes no sense to put dollars raised by a charity for the Hunley’s preservation and study into the general fund, where they could be used for other purposes.

The State’s editorial suggests that Parks, Recreation and Tourism should manage the Hunley. But in fact, revenues collected at our state’s parks are not deposited in the general fund. Rather, they are retained by PRT to support our parks. Funds raised by the Friends of the Hunley should not be treated any differently.

A headline in The State said “Hunley money, like the Hunley itself, belongs to the state.” Actually, the Hunley remains the property of the federal government on permanent loan to the state. Sen. McConnell was wise to add a provision to the agreement specifying that funds raised to support the Hunley must remain in South Carolina. Otherwise the federal government could attempt to lay claim to Hunley revenues.

Taxpayers should be grateful to Sen. McConnell, the Hunley Commission, Friends of the Hunley and the hundreds of volunteers who have worked to make the Hunley a success while minimizing the burden on taxpayers. We should encourage more private assistance projects that benefit taxpayers instead of discouraging volunteers and contributors who want to support a worthwhile project.

Now that we’ve finally saved the Hunley, let’s not sink it again.

Mr. McMullen is president of the South Carolina Policy Council.