Newspaper Page Text
From the Charleston mercur/.
SLAVERt IN TERRITORIES.
To be right of indispensable nccessity
in every case. It gives strength in tine
.. of need, confidence in danger, make vic
tory, virtue, and rubs defeat of shatme.
It is only the duty. but the interest of the
South. that on the question of slavery she
should be right; otherwise, the institution
must petish by the operation of that iit
evitable law which sooner or later rights
the wrong. Have no, some of the South
ern politic'ans abandoned the right on
this subjeci? .xasperated by toe at
gressions offanatics, have they not, it,
stead of baeing content to repel these at
tacks, advanced beyond that line upor
which herefnre" the South has been mnvin
cible. Heretofore, we have demanded that
the institution of 'av'ery shunld be h-"t a
lone. We denied the right of Congress to
limit its extension. We never claimed
the right to extend it by legislative enact
mnents. App!y this rule to Te'rritonics.
Conigress has no right to pass laws exeltd
ittg slaves. neither h-s it a righi to enact
I-s e-tahtishing slavery. Is this trer-?
Then the entigrant to nenly nequired
.erritory nust he governed by the gen
eral principles of the Constitution atnd the
nets of Congress founded upon it. Now
neither the Constitution nor these acts es
tablish slavery in any Territory. and itis
not a part of the common or unwritten
law of this c'.untry. Slavery exists uo
where in this Union but by legislative
or positive enactmen's. It is a municip,al
regulation. How shall the emnigrant re
covgr his slaves were there are no laws
recognisir,g them to be properly-punish
injuries to them-exercise ownership over
them? Does the slave-owners carry wi-h
him the laws of South Carolina it; ravor
ofslavery? titen the free laborer of the
West carries with him also the laws or
his State against slavery Which shall
prevail and be paramonnt? Wli shall
decile this contruversy ? There is no
trlutinal to try th question. Asstning
that Congress have no power to estab:;sh
to exclude slavery -that a Territosial Le
gasi ture catot restrict their adimston.
(-vhich implies a previa d;sly erxistintg au
ihoity to estallish-f.,r the slavehnldr vir
tually excluded from the Territ ry. Now
there are manifest reasons why the power
to legislate uuon this subject should he
denied to Congress. Among others, that
its acts might he made to caltct the whole
of tne .Southern States. while the laws of
a Territory can only operate within its
own bounlaries. Is it not wiser to re
cognise the power of a Territory Legisla
ture to establish or exclude slavety thau
to deny it? The "new comes into the
territory," as Mr. Yancey styles them.
will, we are justified by experience in as
suming. regulary slavery according to
their interests. If slave labor be profita
ble, it will- be employed as certainly as
steam or water power, horses or mules.
If unp-ofiable. no legislative enactments
can compel or persuade to their introduc.
tip Tle;uew comers being, we will sup
pose, frec laborers from lhe We9t, .may
---pass laws,-excluding thetn; but these laws a
Will uaoat+ed df'fTri6efterthe inbab- C
lieost-disci ver -th ti "tiV'.litiniurinne _1n- t
BUtthiA gulte'niiasy be reioted: If free
labjirere;'betngi the first- comers, have no
right to excluttde slavery, then the slave
owners, being the first comers, have no
~iHit ti estaablish it. The adltmission ts as
,oinsiv'ithe one as exclusion is to the
o'ther.' Th'e rule must work both ways.
Utafortunately, if thais rile he adopted,a
slavery mustisueenob~l for the want cCflaws
-to maintain it. In other words, tile in
stitnuon cannot exists tinless esta blishedl bya
law. Those politiciats therefore. whio I
deny,the power of a Territorial Legisla
tore to regulate its territorial concerns in
this as.well as all other respects. practi
cally aid in ithe exclusion of slatvcry l rom
territory. For they catnnot deity te right
to restriet, anad assert the right to e--tablish
it. Mloreover to claim ahe right~ to establish
and deny the right to restrict., is to ad
vence beyond our foirmer doctrine-let tis
alone; and, being thecref.are aggressiv', ii
invites atad 'ptiiies attetnps to destroty ouar
These retmarks heave been elicited lay
the comments of air. Yasecey, at the l;ate
meeting itn this cliiy. tapot that portion of
air. Cass's letter of Mir. Nichotlsoni m which
he dleclare himself itn favor of leaving to
*Territories the right to regutaite their oawn
affauirs. We are presutaded tbat theO South
will accomplish the purposes oaf the Aboali,
tiotnisis by adopa ing atey othter policy thcan
that indicated by Mr. Ctss. No Walmtot
Proviso can more certainly excludae sl;ave
owners fiotm Territories itat the absence
of all law to protect slave paroperty when
inatroduced into them. UTe itnstiutiran- we
repeat, conntot exist utaless established by
law. To enable the slaveowner tio oblamt
admission into Tecrriitaries, we imtst aidopt
a policy equally distant fromt the tihra
pol~iticians of the South and the ablition
fanatics of the North.
The correspndelnt of the N. Y. Trilabune
speaking of the Senate anad its une;asiner~
unt'er the pressure of the Territorial hilks
antd the Slave questioni jttst in advance ofi
the Presidential elect iota says:
"Calhouna sits ini his seni every momnet
of the day, with his unchanageable eye fax
ed tupon each iesitating Senator, like a
tiger pareparing his deadly eparing. There
is hardly one of his party but qatails bo
fore it. A spectator would suppose that
they believed that they believedl in the
Eastern stupersaition-he powet of tho
evil eye; for they all seemed facinated
with its inilutence. Flyinag htim, they are
certain taf refuge now here. Dix, Hlamrlitn,
and other Northerni Sentators. are Proviso
tmen ; them the advocates-of Cass fear to
appraaach. They have r,o hope save in
--"Wheiher .shall they fly.
.Inafinite wvruth and iafimtte despair."
n'AarGToN, ,JULY iZ.
The Senate. it is hielived, with adopt the
Missouri Commpronmise. in referetnce to
the territories. The Soauthern Senatairs,
il is said, will all, evetn without exceptinag
Mr."Colhoun, coitineidle in it. In regaral
to the newi teraitories, a divisiona by thte
parallel of 36 30 will bie favorable to the
South, for of twe.lve degrees of latitude it
and even this belt ines not possess any at
traction for ,laveholders. But, in case of
future acquisitions south of the line.-and
they are probable. become many of the
Mexican States court annexation to the
United States-the balance m;iy be thrown
i, favlor of the South It will be difleult
not toubt. to obtain the concurrence of the
louse in the compronmie, but, I think, it
willsuceerd. The Senate, will reach the
question about a furinight hence.
EDGEFIELLD C. 11.
WEVn.NtsnAY. JULY 12, 1848.
Return of Voluntcers.-On Saturday and
Sunday last. we had the pleasure of seeing
several Volunteer, belonging to the Company
of -'96 Boys" recently returned from Mexico.
Among those who have reached their homes,
are Capt. P. S Brooks. Sergeante. It S.
Key. Eldred Simkins, C. W. Styles. llilary
Cooper. Corporals. J. P. Nixon, W. B. Gal
phit, C. Il. Kenney. Robert Sloan. Privates,
J. A Addison, Thos. Anderson, L. P. An
drews, Jasper Devore, David Hlopkins, Rnbt.
Kenney, James Alarony, E. Melton, T. B.
Norvell, A. Sharpton.
We learn that the following persons. the
remainder of the "96 Boys" are on their way
home. Lieutenants, Joseph Abney, L. Wever. -
Pricatrs, Win. B3etsil, If. Blese, Wn. Bnr
rell. Willis Brannon. G. W. Dusl. James
Goff' Wiley Hlnlsotnback, A. McKinsey, Elbert
Pudret. W. T. Smith. John Walsinghat.
('el,bratiarm of the 41h of July.-The fourth of
Jit: was celebrtted in certain sections of this
District.h y ;arbecucs and l'ie nics tm a manner
appropriate to the occasion.
We had the pleasure of attending a Pic nic
given near the residence of Mr. Joux S:tvr.EY
about 10 miles north of the Conrt House.
The entertainment was got tip in beautiful
style. and was graced by the presence of a
niber of the filir daughters of Edgefield.
ssembled from different qnarters. The whole
ass-thiuage seemed to enter into the spirit of
mnjoymnt,tt. and the most perfect order and
ropriety marked the occasion.
The following gentlemen have been appoin
ed by the Governor, Notaries Public for the
District of Edgefield, viz John 3l'Bride, at
3raniteville, B. Martin, Rehoboth, and D.
Louis Phillippc and Suns.-Three of the
xiled Orleans family, sans of Louis Phillipe re
eutly petirioned-the French Govetnment for
dopt towards. these tnfurtnnate men. Two
t them at least seem not to deserve the vetn
eance of the French people. Bit may it not
re the dictate of a wise policy as well as of
umantly, to exclnde every member of the
reuns Family from Fran:-e. Experience has
:dly an,d repeatedly proven. that the Boutbon
-ce catn never be trn:ted. They are utterly
dle,arrogant anid ty ra:muical. It may be wis
oin in the French people to cut off in r, figntra-.
ve se.nso, the heads of all the family. They
vill asair.:dlly do miischtief, when they have it
thieir pow~er.Thley shtotuld perhaps all of them.
d andl ymatng be tre:atedl like certain wicked
~aders and little goslit;.;s, of which we heard
!t' following. Certain old ganders once, ont a
'iantatmn 'did mnch mischief assinming great
nthtority, and dlestroyintg mneh that wvas valu.
ble. Tlhei owner iot the farmn who haid long
~nnred themt. ait length, gatve orders to have~
heir hiead's chopped oif The servanit who was
lirected to do it, killed every gander and( nn-.
ldged gosling o~n the plantatini. The umaster
vs greatly p,rovok'd at him, ror dlestroyingt the
ittle g.osings, when he hiadi told htiim to kill
mity the old ganiders. "Alh mister said lie,"
I thought it hesi to miake a clean swecp of
at at once ,-thte goslitngs will be gandlers by
midby." Si) it is with the yotung Orleans
rinces. Theoy will be wicked gainders by.
odby-hiarmnless as they mtay be now.
For the Edgefield .Adcertiser.
TO TilE alEMBFERS OF TIlE SALUDA
As Lioni. Jo4:rtt A'ss.v, is daily expected
monigst us. and toeit.:: a native of our Regi
inent, we consiHer it incun.betit upon ns, to
make some demtonstration oh our grattitnde to
the mati, who wats first in the field, and the
lst to h-ave it. this devoted attention to the
cause of his country. anid the nmen tinder his
charge. has endeared him not oiily to us. hnt
to every admiiirer of patriothismi and merit.
That we ma:y the more foreibly express this
feeling; it is propose'd to piresenit hint with a
Sword ait iiir tnext genteral imuster, as a testimo
nianl of or a pprobation ofh his soldier'hike con
duct it the wanr with Alexico.
The 27th ofE this month will lbe the time to
make suit-ible arraingements for procnitng thte
sword, anid the manner of presentaittin.
Coate Ott Otd saliuda,
I AM READY.
For the Edgeield Adrertiser.
TO BEN. C. YANCEY, ESQ.
[-laving in my commutnication, addressed
to yotu through the ".lournal"of last week,
'hhown ofT"9 some of the Rurptlus'steam
"genermted" by your iimputations upon0
mny motives. I hope to bo itndulged in a
general answer to youir second reply to
SA Vo/%ter." I trust I shall make it wito
that calmness which is due to so grave a
subject, anid in that respectful language
which is dloe to the voters of my native
District. I repeat that I enter uiponi the
discussion untwillingly. I cannot afTord
to spore the time from my daily occupa
tion. which may lie necessary to prepare
the matter for the press int a protracted
controversy. aod shtall, on my part, end it
as soon as practicable.
TPo youtr elaborate compilation of statis
ties to p'rive the immense benefit the Batik
of the S'ato haos conferred on the people;
I minhr c.nntent myelft w.ith ,hn renly.
that their utter fallje been
fully demonstrated b; "
you make an impos g gu
taken "from the pulb^
taiuing the Bank Report9 e the
Cc mptroller Genera;". . ciefly
upon a recent Report of ptroller
General published with IS: and
to he found pp. 246 9 Re 1847.
And we are callednn plicit
anti unbounded confidetcc4 Re
ports, because they comm ptrblic
functionaries, and to re 'th inere
dulity. information from -al ~quarters.
Now if I can denonstrateiil '1his rery
Report of, the Cornptrol eral, he
has committed an error n est egre
gious character-as itmpo 'it is pal
pable-his authority to I. to the
ground, anti with it near yoursta
tistics.. Let us see. Fr gge 249 1
will make the fi'llowitg exti iAn full.
ANSwER To StXTH. E iA.
The State issued and dd
ed to the Bank as Capltp
the amiunt of the Fir
Loan in 1833, . ,0 000 00
"In 1844, a portion of- th
Surplus Revenue was
transferred to the Bank fu
the purpose of aiding i.
the redemption of the
per cent. Stock of 1836, 200.000 00
"The State deposit wit
the Bank a portion of th
5 per cent. Stock issued t
the South Western Rt
Road Bank, which th
Bank of the State ca
celled in 1844, ,,336 80
" Whole amount of Stocr
issued by the State an
placed in the Bauk at va -
rious times. 2,32,336 80
Here me have what p'orts'to be a
statement in full of the 1ndu)ver and
nbove the origitil capitalplaced in the
Bank at various times, sandmark-a por
tion of thte Surplus Revetje is included.
Now lthe Surplus Revenu deposited in
the Batok in 1837, amount to $1.051,
122 00. (Bank Comp.'p.Q10.) Of t.his
amount $200,900 were pad on tle Rail
Road subscription and I whole of the
balance carricd to the Sink g fund (Bank
Comp. p. 210.) That is sav, $200.000
was so carried in 1844 a stated by the
Comptroller and the retnaiider previously
to the Report of the LiveV-'gating Cnn.
tittee of 1840 1. from whitih quote. Of
this remainder there is 4 slice of $51,
422 09 of which after thf most diligent
"earch I cat find no furthe trace. Having
gone into the Bank it is of it ought to he
there still. yet among thelBank Reports
and documents in my prssession. I can
find no mention made of t. But of the
other $600,000 the histor. is recorded.
In 1839 the Legislature. by express act.
turned' it over to the Bank. (See Bank
Comp. 49-A. A. 1839.,p. 59-und 11
Vol. S. L. p. 38.) By.that A.t the Bank
was permitted to take it, and,hy..the antu
al Bank Report of 1840 the actual trans
fer is acknowledged. (See Bank Comp.
p. 398.) But in the abdve qtioted state
tient of the C4'ptrol tin mention
the Baik has acknonle 'threeipt
If this be added to the 04i,0rtptried by
the Co-iptroller, the i l'e amount
"pinced in the Bank wot . e swollen to
$2, Q3,7L 89 . ot .to mention
long artrems of interest. AVhIy was it not
so added ? Was it not a gross and palpa
ble crror in the 'Comptroller not to do it ?
if there is any mistake?eabout this state
ment I chtallenige von, the Comnptrol ler ar.d
the Bauk to show it.
I do not refer this e t*nmnus error to
cast att imputation on ~ur Comptroller.
It tnay have been an o4rsight to which
amll tmen arc liable. Pos4bly the facts do
tnot appear tin the Co mtroller's Books.
for whtoever will referf r. Comptroller
H ayne'sstatement in . B C. p. 184.)
wil at otnce see that t e books of the
Treasurers and Comap dIis were at
l-ast up to that time, so lpt, as not to be
enititled to cinfidence. ot however the
errotr minay have arisen, idis great enought
obvious enough to teac4 us that we are
tnt To) receive us goispel the figures and
stntemre.nts o.f even our 'ighest funtction
:ries; and that the perle must see for
themselves and not thtroth the spectacles
of any botly whateve~ In justice to
--Auti.Debt." however. ~ime say that itn
hik tables lie chatrges thtiak with hay
inc received only S2,53-S 13.
Now let us look at a- cimeu of Ban,k
accuracy. In 1847 the presidemt anti Di
rectors of the Batik of ta State of Sotuth
Carolitna report to the 1isla ture that the
profits of the Batnk duri~ the year ending
the 30th September 1 ~, amounted to
$303,252 01, and afti.making sundry
dedue ions for interest expenses and
e'xponses on Fire Loa terest ott 6 per
cent. Stock end Loss say that they
have of this profit ca to the Sitnking
Fund $162,000) 00; a in statetaetm A
the Bank is debited wit thatamounts as
profits on hand. To e vince.he Legi..
latnre of the wonderfta hings the.-Bank
has aiccomp)lished, the is atached to.
atnd forming a part o e Re-ort abiove
referred to, a "'Table witng tie Pritnci
pal Features of thenup lions" the Bark
of the State of South ,arolin fr'.m its
commencement to the 1~ Octobr, 1847."
In that table tunder th&liead "tuount of
Profits after deducting 'ases," tiy report
the profis of the Bank or each rar from
its comimencement to. re 1st of)ctober,
1847, which a-nout.: the agagate to
the mum of $4.5d7,03 74. Ue.r the
head " PAtD FRO31 P FiTs," thnreport
the various amounts laid from me to
time by the Bank, ed upon tut ao
count, making in the: gregate thollow
ing sumts, viz: " In to -State rsurv"
$592.001 28. "Imtere otn Publi>elit"
$2.65.502 56, atnd e'Public Do-six
per ceitt. Stock of ~20. and Fi per
cent. Stock of 1 ," $1.586, 236.
Now from these fact let us see..hthe
accountts of PRoFies 'ill halanee.
Atmount "Paid frotnd fits"
in State Treasur~ \$592,0e8
A mount "Pail fro . renlts,".
Itnerest on Publi4Debt, 2,653.5(46
A mount "Paid frntj'rfits,"
Principal of Pub e Debt, L,586,23)
Whtole amount p d frome
- ProGts still on hand, 1G2.000 00
84 903.743 20
Whole amount of pronfits
claimed to have been
made by the Bank, 4,587.050 74
Balance. 406.692 46
That is to say: The Bank has paid out of
its prdfits the sum of four hundred and six
thousand six hundred and ninety two dol
lars and forty six cents over and above the
whole amount of profits it claims to have
made! Truly this is a wonderful Bank,
and does woieerful things ! This is the
showing of the Bank. According to the
Comptroller General (Rep. and Res. 1817,
pp. 248 9) the sutm is still greater by about
$200.000. If there was no solution of
this mystery the officers of the :;.'GIk might
he forthwith arrested for practising the
black art." Bat first. the books may be
badly kept. Serondly. there may be
oversight in the Report. Trhird!y, they
may have got the money from somntichcre
else. And so they did-frotn that good
old milch cow, the State of South Caro
lina, whom they pretend to be feeding
daily, while they are draining her to the
very ribs. My co-victim "Anti-Debt"
has shown very conclusively whence the
Bank got the money to pay the Public
Debt, and by tracing out this singular dis.
crepancy and sounding it to the bottom
the same result would he obtained. But
my present object is to point out solely
the enormous errors on the face of the
Public Documents on which you rely in
your second answer to the question.of "A
Voter," and I will not now press any
[ now ask you, after this expos.re. if
you find it in your conscience to adhere to
the enormous and mischievous errors you
have unwittingly propanated thro"gh the
columns of the Journal ? Whether you
will still maintain and defend the state
ments of the Comptroller and the Bank,
that the Bank has paid from its profits
- Five million dotars." "a little ture or
less" of the Public Debt ?
Yet I am not done with the Comptrol
ler's and President's Reports. You urge
with much seeming earnestness the fact
that the Bank has paid vast sums without
the people having to raise a dollar. But
what credit does it rlserve for that ? Give
me a million of dollars and i can readily
pay a million of Debt. The people gave
the Bank all this money and the Bank has
merely 'paid it out-but at a heavy com
mission, which has come also, every cent
of it from the people. The profits of the
Bank have been stated as above. Now if
you will refer to the Table annexed to the
Bank report of 1847 also above refetred
to. (Reps. and Res. 1847 pp. 22. 40) and
calculate the interest at 7 per cent on the
Capital there reported in column four, for
the last four years, and then turn to the
Report of the President, pages 42 3 Reps.
and Res. 1843. you will find the statement
below to lie correct. You will see that
the President there estimates the interest
on the Fire Loan at six per cent. But as
the object is to acertain what would have
benteprofits of the whole cep' ~yith
vhich=the State has:from;.t
not+ ave esttmatc any.,popton' er
cent ; I have therefore made the correction,
and accordingly added about $70.000.00
to his statement. The accounts then
In:erest- on whole Capital
utp to 1843 incrlusive, at
legal rate of' 7 per cent.
per annum, $3.023,798 32
Interast on same at samo
rate to 1st Ocrober, 1847, 96,.033 44
Bank Profits reported as
already st ated, 4,587,050 74
Profits less than legal inter
est by balatnce of $4,781 02
Thus in the long run, by its own show
ing. the Bank has not made quite as much
motney nut of the~ people's money as the
people might have made themselves at
lawfutl interest. The~ worst of it is. thnt
it is tmaking less and less every year. In
its early years it made 10. 13 nod 16 per
cent. per annumi. hut yet on the acerage
of the whole pcriod it has not ma.le 7 per
cent. Even in 1843 its profits ha;d been a
liractiont over 7 per cer:t. It has fallen off
since, and will continue to dio so. The
concern is rutbning dowtn fast, antI on mat
ter hoaw well it is mtanaged it is the interest
of tile people to bireauk it up. T[he profirs.
however, are reported as nett. The lantk
has besides made its expenses andi paid i's
aserrtained losses. Thtase nre the Commtris
sions which the people have paid for keep.
ing up an eanblishment which has not
netted thtem 7 per cent on their money.
These are exorbitatnt. The expenses of
the Batnk lae' year, (see Rep. and RIes.
1847, p. 30 1.) wete $38.937 56. Sup
posing them to have averaged $35 000)
per antnumt. for the lat 33 years. they
will amount to $1,225.000, while the
known atnd acknowledged losses have been
$562,244 02. ( Reps. and Res. l 847.p.
34.) Mlakinig over 81.787 000 in then.
gregare, and1 about 38 per cent on the
I have now (lone with your statistics.
You allege that the Bank has paid large
sums, and I have .shewu that the people
have furnished it with mens more tha'.
sufficient .to pay all it has paid. I have
shewn also that it has credit ftor paying~
money which it never tade. bitt obitaitted
rromn the State. It is tnot the Bar.k that
has saved thte people from taxation, hut
the people's oton money, derived originally
rro?n taxation. And the interest on that
money has amounted to such an enormous
tut, that hut for the Debts 'lie State has
ncurred, there would now lie no occasion
ror taxation at all. Yet but for this aren
mulation, of mtoney in thte Bank, I htazard
mihing in saying that these debts wvould
iever have have been incurred. No man
vould have dared to tax the people to go I
t,to the ruinous system of Internal Imt
irovements in 1818. or into .the Cinein<
tati liubble of 1837. But the Bank Fundt
tithe first itntence, anid the Surplus Reve.
tue in the. second, brought about these i
ltsastrons measures. Thteso events prol,e S
hat Governments cannot lhe trusted by
he people with at dollar of money be
!Ondl their atnnual necessities, and1 a iiisO 's
cumbered will abolish all FUVs wader the
control of their Govern ment.
Let us now examine your objections to
the question of "A Voter." Yon have
misapprehended from becinniin to end,
the whole scope and purpose of it. nud
the ground on. which it resis. You say ii
is u "mode." That you will only Five
your opinion- as to "principles," ani that
your principle is "a thorough exanntia
tion of the Bank." Now I submit, that
a " trode" is a measure. and that " a
thornugh examination of the Bank" is a
measure and nothing more, and that the
Et;:lish of the whole inatter is, that vou
preferr your ineasture to mine. We have
not been much in the habit of questioning
car.didates in this Distiicr, and especially
about abstract principles. There are,
however, a few instances where we have
questioned thet and punished them about
appropriations. which are mteasures. We
have questioned th:m about divisions of
the District, which are measures. We
have questioned them about nullification
as "the mcde and measure of resistance."
All our questions have been about mea
stres or "modes" if you prefer the term.
I have but one objection to your measure
of a grand committee, and that is that I
am perfectly certain it would all end in
smoke. If you could get your commit
te, the Batik would present clean and
satisfactory balance sheets, as it is always
prepared to do; and as to trying the sol
vency of every debtor, it is wholly in
practicable in your way. There are
numerous insolvencies not yet recorded in
the Clerks or SherilTh' Offices. If they
were so recorded they would he nlready
public, and the presumption is known to
the Bank and every body else interested.
There is no way to test nnv man's solveu
cy fully but to rcquire him to pay. And
there is no way to test the solvency of the
Bank but to require it to wind up. All
other tests will teail. They will answer
no purpose but to lull suspicion The test
which I proposed was of a different char
acter and for a different purpose. It also
involves a principle, and that principle a
owuamental one. I prefaced my ques
tion with an extract from one of the arti
cles of " Anti-Deht," because the priori.
ple involved, and reasnna for the question
were clearly stated. ar! i bener form
than I w:as capable of doing i'. The pen
ple have conferred upon their representa,
tives, and through them upon the Direc
tors of the Bank abmolute and unrestricted
Power over the whole of the Public
Funds invested and deposited in the Bank,
amounting u4ually to li'tle short of $1,000,
000; and tt addiiion thin Legislature has
authorized the Directors of the Bank to
incur debts to the amount of double its
capital, for which the State is honund, and
in fact they have bound ito pay the debts
of the Bank to whatever extent ihey may
be contracted. (See 5th Sec. Charter,
1812, Bank Comp p 4.) Thus the
property of everyleitizen of South Car,t
lina is at the mercy of the Bank. This is
n tremendous power for the people to con
fer upon any set of men to use at th'eir
discretion. Is it possible far them to
throw-too manyguards around it? Can
ev,told theiragents one and all to ton
un aecountahility for the.use uof it
form'and"to the fullest .possr e-ex
Yet they have exacted scarcely anything.
A biennial investigating coimittee that
never fails to sing the praises of the Bank
in the same cuckoo notes, or if it should
dare in utter a- single discordant chtirp is
sure to receive the t ebuke of the Legisda
ture. (See Bank Cotmp. pip. 171-191.)
Annual Rteport whicht ito one reads.-a
Private Report which never reaches the
people-lately a Monthly Exhibtit which
no one can publicly comment on without
beinig dlenouncedl as a sort of incendiary.
These are aill the checks the p)eople have
on those conirollinig absolute!,, so vast an
amonnt of their ptroperty, and with power
to incttr debt to any extent. Now the
funds of rthe Bank are loaned out. Whlen
an ordinary citizen goes there to borrowv
montey, he goes as he would to any other
Batik and is accommodated only in pro
portion to his ability to pay. But as the
Otlicers andI Directors have all the funds
in 'heir power. andl the tlemhers of the
Liegislatatrc have the Odieers andti Direc.
ttrs ini their power. these two classea niay
neenm-n,odate themselves beyjond f/her
ability to pa A-ND tttRF. Ltes -iuE
GitArTFsT D.vUGER-In the mutual and
reciprocale obligations to each other, antd
the consequiener.s which grow ittt oif it.
It is idlle to s;ay. that if they ;aro honest
men they will tnt help themseilves to, an
tuainte shtare ofl the jecople's money. If
we repose solely upon the hoitesty of met
we are gont'. If etur rights, our proper
ty and our inistitutints rest upon tno
stronger guairantee thtan thte virtues of our
Rtilers they are tnot wtorth the ink I am
nowv using. Alao is frail, an.] power al
wvays dangerous. A wise peeiple will
alwayvs keep a bit in the mioutht of every
onte itey place above them, and hold the
reins in their own hiand,s. By what means
r::t the pteople kntow whether those tot
wvhntn they liav e inutrusted four millions of
Jollars anal all the influence it gives, may
aot corrnttally abtuse ttte enormous andl
empimg power they have, unless it is
lIearly ascertained ait least annually, if
lot oftener, how much of the mroney '-ach
ine appropriates to his own u.se. Whar-.
sver oilier secrets may be necessary to
Batnking, this is one which is vital to the
reople tat untlock. The inf.,rmation thus
Izrived may not satisfy us ti-at the Bank
a nmaking mtoney. That is not the pur
tose of it. But it will show us whtelter
tur Representaitives andt oethmer aegentis are
nanaging fjhr us or for themselves. antd
his infornmationa is all imipeorant. It is
tet to lie Iirhiidden that the mem'bers of
he .Legislature and B:tnk Oflic.ers and
)irectors shall borrow motny from the
anik, but the people ought to have the
neans oaf deciding whether they borrow
aoa much.. If the Bank, as you say, can
tot stand up under sutch a m~easure, I sny
at the Batik falIl. Th'le life sustainir.g
rinciple of Repubilican, in which all
titers livo awl nmove ad have their I
eing--the principle that all Public
agents shall be fully and strietly account
ble to the People. int the whole lengthc
nid breadth of their Trusr. not only sanc
Oios tt imuparatively demands it ; an th I
rhatever public institution stands in the
ray of-it is hostile to lIepuiblicatnism, and 1
unhbre abonhishcd. I do ntnt eann to
Cast impu'atiouson any penon. 1 charge
no one wth having ct:rruptly abused
power. I 1tknow nothing of the deb:s of
Mletnl(ri tr 1)'r-ctrir, Ive the uudenied
charge that th' l)irectors alone owe the
Baik over $750.00 on their ir,dividual
ncntItt. This suim "ecm s to be a great
one t be divided among # few men. It
tay be all prorer. But it is enough to
awaken an interest and connected with
nther lBank transactions to w hich I have
alluded, it j'siifies the people in resorting
at n11CC no-l without loss of time to the
exeriie of important rights over whiksh
they have slumbered tmn long. and which
Ihey never neglect wi,bout sooner or later
ittcurring eminent danger.
hlaving now stated as succinctly as I
colul Iia principles on ?hbich the question
I put to the Condidates rests, and the pur
pose of the -"mode" prtoposed. I take my
leave of you. by s:iying that I see no rea
son why both our measures may not be
carried nout-yours for the occasion-mine
for a per:::an":ncy. They do not conflict
with each other in the least. Pledgeyour
self to mine, and I will give all the sup
port I can to yours. As no man in this
country is compelled to take office, no one
need incur the accountability I would
exact, if in the least disagreeable to him.
The following extract has been kindly
furnished for the Mercury by a getleman
of this city:
WAsnINGTOv, June 27. 1815.
Mr. Calhoun has just delivered one of
the most profound spe.ehes that that great
man ever spoke His speech will be-pub.
lished as soon as he can prepare it. It
was;leliverei with an almost monitary
solemnity. lie quoted Mr. Jefferson's let
ter upon the "issouri Compromise---he
showed the apprehenstons there express.
ed by Mr. Jefferson are now about to -be
realized. lie spoke boldly but with tem
p-r, tpon the prospects of disunion. le
then traced the whole abolition Mania to
that sentence in the Declaration of Inde.
petdence, -"That all men are horn free
and equal." Never did I listen to a more
masterly. discrininting analysis of any
sentence. lie showed that the whole idea
w.1% f.tunded on a misconception, that it
led to absurd reslt, antd that the daugers
wer- inappr"ciable. This was no coin-,
mon speech. It was the voice of the Sage
directed to every interest of the Union. ;It
spoke in tones of deep solemnity to the
lover of the Union--it spoke trumpet
tongued to the Southern members-it fil
ed every one .cith reflection, and its abti
ity by every one was acknowledged.
WAsItaGTOr, July 3
The absorbing topic just at this time is
the Missouri Compromise, for which a
strettuous efFort is now making by all par
ties. Mr. Calhoun has given us to under
stant, in his late speech, that if "stavey
were left to itself, it would not reach' be
yond 36o 30 parallel, and not much' be
low it. He stated this merely en pasant,
recognizing that parallel as the natural,
physical'!imit, hut by that means sff'
ciently intimated that there wouldlb"Ino
great hardship in the. South':'eep u
sueli aocan: uti
tti caiie o abisoeer o t~eT.
most by a spee "' c ould per' intat
-this quiestion, and < lastma settletit-of.0
that, if the present op - 's.reason toLear
proved, it will not soon ~nty, is not .im
edl. If the agit ation now 0amn present,
E&asteron and Western States. Ont in' the
great E-npire State (New Yor int the
mitted to increase antd.influencee th er
Pr--sidential election, then the party :: t
will at once he drawn, and the men w
have conjured sip a spirit of disunion and
provincialism will not be able to banish it.
Manay Northern Senators and MIembers,
for te sake of peace, are willing to vote
for a compromise, and the wise and mod
erate tmen of thte South seem to be ready
to accede lo it, and so it is still' possible
that the most perplexing qtuestiont of the
present day3 mtay be disposed of before the
adjouzrnmentt of Congress.
LATER FROM EUROPE.
The sueeimer Cambria. arrived at Bog.
toni on the a0th uft.. withI advices fromn
Liverpool to Junie 17'h.
True bills have been found! by the grand
.jury at the June session of the Central
Criminal Court, Londolun. against Messrs.
Ernest Jones. Ltissell, Vernont. Looney,
Sharpe and Williams, the Charrist'leaders,
It is said that the Pt)pe has espressed a
mnost an)xiotts desire to visit Ireland.
The Lords of the Treasuriy have prahi- '
hi ted thle exponrta tioni ofarms frotm England,
to be emp'loyi)ed in hostilities against Den
F RA NCE.
The Bona parte movement in Paris is
jtust one .f those shifts by which the
French )pi)ple constantly remind us of
their inistability. Ten diays back, what
ever may have been the contenitions be
tween the various political factions: by
which Franco was torn. --fidelity to 'the
R--pubbe'' was the professed cry of every
id ividl Freinchman, from the.Prince
tie Joinville itt his exile down to Mr. Bar
hes, itn his dungeon at Vincennes. Reae.
ht) was the onte untpardoable wish wvhich '
all men dis-tvowed, thne one motive that
woutld a' once have been mentioned as
the expulantation of whatever crime might
have been commtited. The details of the
p)resentt mnovementt. as far as it has yet
gone, miay be euasily described, (or the
ukuole business seetms to have been merely
otpttlsive. The retturn of Prince Louie,
nentiontedl by thte last steamer. among ihe
lfeven ntew representtatives for Paris, took
very onie by surprise, one probhably the
ri--ce himself no less than other praise.
lhe ainnoincemntt at his success was im
nediately received with tretnendous shouts
*y thte mtasses. La-ntarine then appealed
' the National Assembly, in the name of
lie Governtmptt, to crush w'hat he assum
di to hie the objects of the Jhonaipartists by
t once pronouncing the exclusion of the
'rintce antd prnclaimniug to the world that
tie admissioni of three of her famnily, which
ad already taken place, was not to he
onst rued itt his favor. since while ,t...e