Newspaper Page Text
From thf South Carolinian.
Of the the President of the Bank of the
*- - V.i! -f CI
?laic, ill rvpiy iu >i rtwuiuutm ui ouiiate,
of Zteccmber 5, 1840.
Columbia, December 7, 1849.
7\> (lie 7/onoinble the Senate
and IIouso of Representatives:
I transmit herewith, for the information
of the Legislature; copios of my two letters,
of 3d and 5th May last, addressed
to Joshua Bates, esq., called for by the
resolution of the 6th inst-.
In laying these letters before the two
Houses it is proper that I should remark
that the first was a private letter, and that
tjoth were written in reply to the requests
contained in the letters of Messrs. Baring,
Brothci3?fc Co.. of the 13th April, published
in the annual report of tne Bank
for this year. The president and direc
tors of the bank were, by virtue ot the |
act of Legislature of June, 1838, made j
trustees to protect the rights, not only of j
the State, hut of tlio.se creditors of the !
.State who had loaned their money under !
its sanctions and pledges; and when one j
of the parties asked for information to en
able him to place his case respectfully before
the proper tribunals, I did not feel
myself authori/.od towithold what he had
so clear a right to expect.
The letter of Messrs. Daring, Brothers
it Ce, indicated also a total misconception
of our political system, when they
intimated a determination to appeal 10
the courts of the country to prevent
what they termed the 'sacrifice' of their
security. It was, certainly, my duty to
explain to them that such a proceeding
was not open to them, and that their only
course was to lay before the people of
South Carolina, through their Governor
and their Legislature, the views enter
tained by the other contracting party of
the nature and extent of the contract
they had made with them through their
agent, Covernor McDuftie, and to appeal
to their sense of justioo and honor for the
preservation of their rights.
These letters formed no part ot the nc- |
gotiation for carrying out the resolutions ,
of December, 1847, and were not, there- I
fore, submitted with the correspondence !
exhibiting the progress and state of that
transaction. AH of which is respectfully
F. II. Ei.mork, President.
cnari.E8TON, 3d May, 1849.
To Joshua Bates, esq.
Siu: In my letter of yesterday I omitted,
purposely, any reply to that part of
the letter of J/essrs. Baring, Brothers &
Co., in which they ask me to ^ive von
my views and advice as to what I understand
to refer to the course that should
bo adopted on your sid& in regard lo the
threatened withdrawal of the bank, as
security for these bonds. I omitted if,
because, pertaining to your course in
aiiutuui ui ii'.u umuiton, it uni inn,
belong necessarily, to the negotiation,
which is our object, and I, therefore,
preferred it should be kept separate; and
this course is the most advisable in consequence
of the hostility existing in regard
to the bank, and which would look on
any suggestion, 'rom me to you. with n
fcoling that would do injury to your interests.
Messrs. 13anng, Brothers & Co. attach
much value to the security of the
ban-i on these bonds, and, of course,
that the bank shall continue in its present
shape, with a charter, until the debt is
Unpaid or redeemed. They ask me to
give you my views and advice, which I
understand to refer to those measures
which you shculd adopt to prevent the
security being impaired or withdrawn.
I have seen no reasons to change my
opinions in my letter of 15th January last,
and I give it as my opinion that the
ivVinlrt raiitffM" sVtrmlr! Tin Virrmrrlit tr? flirt
view of our Governor, Whitemarsh B.
Seabrook, that he might bring it before
the Legislature and the public. While I
see no reasons to ch&n ge my opinions,
there are one or two suggestions, in case
you adopt this course, I would make as
to the manner of its accomplishment.
Our people are right minded, and are
honestly disposed to fulfil every engage
mcntof the State with fidelity and to the
letter. If well informed as to their obligations
and duty, they nre not easily led
astray; but thev are jealous of everything
that looks like foreign interference or influence,
and there a re those amongst us
who have talent and ambition, and who
have staked themselves on tho issue
against you and the bank, and that they
will not fail to lay hold of everything that
may enlist reason or prejudice in their
In preparing any proceeding for our
Governor, you should bear this in mind,
and avoid everything that would involve
more than is necessary to your ease; but
you should not weaken your ease for this;
indeed, nny other than u frank course
might., aa it might suggest the idea tliat
you omitted to favor us. Our Governor
ha high mindea nnd honorable man,
sensitive to everything that would tarnish
the character of the State, and at the same
time as jealous of any appearance of foreign
interference or influence.
My idea of the course is this: A clear
dtntamtmt of th? ensn. embracing the no.
gotiatton, the act of our Legislature, ;uid j
tHc agreement, should be submitted to at
least two of the most eminet lawyers of
I nrtiintriou nnn In onnh fnr I
"Ill Iff.JR-Ul.V ... J
their opinions on tho character of the
transaction, the scope and bearing of the
act, (June, 1838) and the obligation of
that contract. These, when obtained,
should be respectfully submitted to our
Governor, accompanied by a lcMor, stating
that the action has caused nnxicty,
wlmt wmilil J>i> ilm nf Ilw measure
indicated, or of nnv of equivalent character,
to depreciate the bonds, and expressing
your hope that no action of the
of the State will be taken, which will impair
the confidence, or security i f these
bonds, without the consent of the hold- j
In regard to (ho control whoso opinions
would be most relied on, I would
ruggest the Hon. James L. /'etigru, of
Charleston, for the one in the United
States, whose opinion would be most intluential.
Ho was, for many years, At-J
torney General, and stands, without dispute,
at the head of the. bar of the 6'uite
?is eminent for legal know ledge and integrity,
and enjoys a higher legal confidence
in South C'arolinu than nny other
man 1 could designate. If you should
propose "another American, and desire
Mr. Webster, is opinion would doubtless
carry more weight than any other
lawyer's out of our State.
i>-.* i -ii. _r x 1 i.i i
mil uoiii oi tuusc wuuiu iuhmj yuiu
case incomplete, without an opinion from
oOmc eminent English lawyer, which
would show ihc view3 entertained where
the trim action was made, and where the
character and credit of the State would
bo most affected.
Unless some such coin-seas this is ad op
ted to inform the public of the true state
of the ease, the probabilities are not
weak or remote, that the construction of
tbe contract, as you understand and insist
on it, and as you consider important to
tbcvrlucof the bonds, (Letter of 13th
April last,) will be construed away and
Those who oppose the iccharter of the
bank, say, that there is no obligation to re
charter it, because,
1st. Yovi had the charter before you
when you took the loan, and saw that it
expired in 1856fjfmd although they admit
that wo, a party, ha ve it in our power to
continue the bank until the bonds lire
paid, that we did not stipulate to do so.
2nd. That even if such is the contract,
the Legislature of 1838 had no right nor
power to bind its successors.
3d. That all tho Legislature pledged
wore the 'iiinds' of the bank, and if these
are still preserved for you, you have no
right to complain.
And 4th. That the <S'tate is good for
?..,i i ,,i
uiu luuiiuj ; auu uuv a nut uiiiuu iv) kill 111
Very respectfully, your obedient servant.
F, II. Elmore.
Bank of the State ok South Caromna.
Charleston, May 5, 1810.
Joshua Bates, esq.
Sir: There is one observation in the
letters of Messrs. Baring, Brothers it Co.,
of the 30th April, which it may not be
amiss to discuss. Speaking of t he value
put on the security of the hank to the
fire loan bonds, while they entertain no
distrust of the will or ability o. the State
to pay, they add, 'We could not be justified
in abandoning a security given solemnly
by contract to the bond holders,
unless an equivalent could be offered to,
ar.d accepted by them?we should feel it
a duty to offer every opposition which the
laws of the State, or the constitution of
the federal government, permit, to the
sacrifice of such a security for the bonds
now in circulation.' The security is the
bank, and if it is not rechartered, that expires
with the charter, in 1850, two
years before the first, and twelve years
before the last of your bonds fall due.
The security is the bank and its profits.
If it. is lint. wc.lmrfnroH tlioro i>j rin Vtnnlr
and no profits. 7'he idea of your respected
firm seems to be, that this 'sacrifice'
may be successfully opposed in the courts
of the /State or of the United States. If
that is the idea, it is altogether an error.
No court can make the State a party
?no decree can rcac her?and she is
not amenable to any tribunals but her
own legislature, aim ine puonc opinion
of the people. To attempt, therefore,
any measure of redress, in or through a
court, either of the State or the United
States, would end in a failure, and only
serve to irritate and prejudice the State
A ? -11. il - ? - - 1 1 -/ il
vvnu nere me nature ana vuiue 01 uus
security may be considered. ri'he value
of the security is measured not only l?y
the extent of the fund pledges, but by its
nature, illustrated in the fact, that while
you could not sue a ?S'tate in criso of default,
you would have a perfect right to
*1... 1 1. 1 .. __ _!.? . P_.l_
ouu biiu i;.lilH, UI1U, U|?UI1 OUUtlllJIIfJ JUUgtJmcnt,
to enforco it by execution. Now,
if the SU\la withdraws the bank, you
have lost this remedy?and that yon and
Gen. 3/eDuflie canvassed, and gave fujl
weight to these considerations, ho hears
witness, in reply to certain inquiries which
I addressed to him in November. 1843,
which you will find in the volume J. send
herewith, at page 573.
The true courso appear* to me is tho
one I indicated heretofore?the case appears
to me to he one of ploin obligation
on the j)i? t of the state, and if insisted on
by tho cdher party in the contract, cannot
be disregarded. It is very true, flu
cont"ud?l by some amongst Us, that
whenyoi made that contract >vlth Gen.
MePunlJ,you knew the charter of the
bank wotilil expire 111 ioou, iwo years oe,
fore thopHBt. and twelve years before
( tlie last re-piyment of the loan. But is
also seen by tlie fire loan act, that the
bank and its profits were pledged until
' 18(58, and vou knew that those >>'110
made that pledge were fully authorized
to extend tlie chatter and make the sccu'
rity good in form, as they offered it in
' substance, by extruding the charter.
And when they authorized the offer, and
Gen. MeDuffie appeared us their agent
in T oii/lim with fhk nc.f. in liis hnnd.
niul the commission of the $tatc, undor
its broad seal, yon wt-re fully justified in
making a contract tascd on the under
standing and faith ol a Z^tate, that the
bank would be coulil be continued, and
its capital and profit.^ held solemnly bound
for the loan until itj final redemption in
Having full powei and ability to make
good all the Legislature offered in the fire
loan net, and all thkt the agent of the
?$'tnte, Gen, jWeDume, bound her for in
the contract, there is no excuse forrcfu;
sing to do so, if you insist upon it.
That you may hfivc all the documents
which Ave have published before you, and
sco iii what manner this point has been
, treated before our Legislature, I send
t you a copy of onr bank compilation. The
tire loan act is at page 40, and special icports
at pages 5G5, 0, and 051.
Very respectfully, your ob't. servant.
F. H. Elmore,
"NINE CHEERS FOR OLD ZIM.l"
OK DllKAKIXO DOWN THE SYSTEM.
Tn a remote county of Pennsylvania the
scene is laid. The time was the year
1842, when party spirit rose to 102 deg.
in the shade in every hamlet the length
! and breadth of Uncle Sam's glorious do:
main. The respective political parties
met in c avention at Bugsburg (the coun|
ty seal,, and made their nominations for
countv nflicers. As there were many as
pirants for the few nominations, it follows
as a matter of course that there were
I some bitter disappointments?to no one
more so than to 'old Zim,' who was confident
of getting a nomination for Sheriff.
Zimmerman, or 'old Zim,' as he was familliarly
called, was a miserly old codger,
...i.^ 11 i.1n.~ I.I
wiiu was wen in iiu in uiu wunu, yui hu
had an almighty thirst for oftiee, and he
was tip at overy convention for a nomination
for something, from 'time whereof the
memory of man runnoth not. fo t.ho contrary."
lie " as reputed wealthy?that
is, he owned i farm, and had money, but
he never showed the color of it, except he
unfortunately got on a spree, then he
' would sow it broadcast?but that was
i only a biennial occurrcnce.
j A few evenings after (lie nominations
i above named a knot of th^ dissatisfied
and dissatfocted were congregated at the
Blackhorse Tavern, discussing the merits
and demerits of the fortunate nominees.
'GentlewH,' said old Zim, 'merit and
long service to the party is no recommendation
in this county. The wire-workers
, and schemers have it all their own way.1
'Av,' responded one of the bar-room
! loafers, 'they does the pickiri' out and
i they expects us to do the wotin,'
i 'But. L'entlewHcontinued Zim. 'thev
I' o 7 ' " J
willvfetch up against a snag or a sawyer
I one of these days. Yes, gentlemen, by
the eternal, I'll upset their applecart and
spill all their peaches. I'll see whether
| it's (he people, or a set of broken down
! St.IP.nl 1\ ?<?1*"Q nc mol/AC tlir* nAnn#\r r?rv*v?5_
nations. ]5y Judas, I'll break down tbc
system?I'll run as a volunteer candidate
for sheriff, and if I don't lay 'em out, then
my namcaint Zimmerman, that's all.'
This determination was received with
favor by the crowd, and Zim sealed it by
spending a 'half' for red-eye.
Kill i u':k m timiaiin
i ced through a card in both papers to his
, fellow citizens, pledging himself to dis
! charge the duties of tho office with impar!
tiality?in ease he wan elected.
Right lustily did old Zim go to work
and things appeared to go on swimmingly.
Ho canvassed the county, and the
people wore profuse in their promises o1
doing their best for him. In one of hit
peregrinations lie met Wattles, the nominee
of Zim's party, who was also on an
'IIn! Wattles,' said he, 'my fine fcllew,
I'm sorry to see you nllow yourself to bf
the tool of the unholy and corrupt caba'
?I say I am sorry ' sec you sacrificed,
but you're bound to be beat. I'll s'\ow
them that the freemen of this county will
not hear dictation; so, my friend, if von
i vtioii i\J trnvv j uuinuu ii will nm ulsj^iuct
j of a defeat, you had better resign in mj
Wattles expressed his conviction thai
he should feel very much used up in sucfr
nn event, but at the snmo tim? Ik? had
made, up bis mind to stand the hazard o1
flection day at length came, and my
worthy friend, arm^d with u hat full ol
tickets, stationed himself on the ground
j of his own preobct, and commenced denl'
ing out his tickets, and urging his claim?
( in the strongest kind of a way: miser as he
I waii, ho made hi? friends swinj in Monon
'IT"I . * JL1 1 I U.J LLLL.1j
galicla long before the polls were closed.
The election over, evening enrne on
apace, and tho eager expectants gathered
in tho bar-rooms to await the counting of
the votes, and the returns to come in from
the different townships. Old Zim was
flourishing about, treating the crowd, ex'
pressing his full confidence in the people
"?"l #tw? L'HAnaeo r?f liic nfljM't 4 f\ 'lii-finL
down the system.'
Seated in a remote corner were a number
of wags, in low but earnest conversation,
nnd nny onr> who i?5gM U.iv?? clmn.
ced to see them would at onco have concluded
that something was to follow. The
consultation saon broke up, and . ic plot
began in about fifteen minutes to tievelope
itself. The clatter of a horse's hoofs
were heard on the frozen ground?a solitary
horseman rode up to the door, and
flinging the reins over a post, rushed into
the bar-room, where lie was soon raised
on a table, and silence commanded.
'Here,' said he, drawing a strip of paper
from his pocket, 'are the returns
from Lower Buffalo township?"Wattles
50, 3/acgregor <10, Zimmerman 100!?
majority ior Aimmcrman, nu:
'Nine cheers for old Zim!'
'Huzza! huzza! huzza!'
G'entlemtfw,' said old Zim, taking oft' his
hat?'I'm obliged to you for this exprescinn
itahv??flinf ic ta cfiv Inf. ik tnl-o //
o.v/w J iv, ""J ? *v/" ' " "
^orn all round.'
Of course the crowd acquiesced in this
proposition, and (he wclKin rang with
loud huzzas. But hark!?scarcely had
the eager crowd imbided before another
horseman came galloping up to the inn.
'Beegum township one hundred ma
jonty for Zimmerman!
'I^ine chccrsfor old Zim!'
'Hip, hip, hurrah!'
Again did old Zim attempt to speak,
but his feelings overcame him?and he
ended by inviting the company to just
call for whatever they wanted. Again
the glasses jingled as the excited multitude
wedged themselves towards the bar
?and again was heard the clatter of a
'Dublin township, one hundred and
thirty majority for Zimmerman!'
'Nine racers for old Zim!'
'Hip, hip, hurrah!
The excited candidate was wild with
joy and excitement, and lie again invited
the party up to drink.
Another horseman came!?another and
still another?each one bringing an overwhelming
majority for old Zim from the
township he represented. Alas! that it
should he the same horse, "who performed
the feat of a quarter race every hour
that night, and that it should be the same
mad wag under various disguises that
brought old Zim the glorious news. The
column, as footed up, gave Zim a cool
thousand majority. Didn't he rave and
pitch? Well, he did! Didn't he spend n
cool thirty??the landlord's till groaned
under the weight of old Zim't deposites.
'GentlewNVJ,' said old Zim, 'my heart is
full [his head wasn't anything else,] and J
can only say that the glory of this contesl
belongs: 10 you; but I foci a [brick in youi
hat, said a wag,J pride that I have beer
the humble instrument of Jreading dowi
. the system.' | Nine cheers.]
Thus matters progressed until those
who were completely 'sowed up' wer<
laid out, and the remainder found tlieii
way home?some charitable friends o:
. the (Sheriff elect toting him on a shutter t<
. his domicile.
Early in the morning, the village wags
with throbbing temples, met at the taven
. to take 'a hair from the dog that bit them,
( as well as to laugh over the 'saw' played
on old Zim; but scarcely had they com
, menced worship before in stalks the ok!
| gentleman, still under the delusion thai
he had carried the day?nay more, he insisted
on spending a V by way of a morn
| ing whet. The wags were determined
r to keep it up as long ns possible, and a
gain drank and congratulated him on hi;
success. In the midst of the 'noise ant
i confusion,' in bounded an inky printer's
devil, who deposited an extra on the ta
hie, containing the return. Eagerly die
old Zim seize it and hover over it but i
minittn Thn nnn^lncinn nf it Sc .ill onAl
' cicnt for the reader. It rend as follows
'By the above it will be seen that Dcm
p ocracy has ugain triumphhd, as Wattles
j (Deni.) majority over 7'ibbets (Whig) ii
one hundred and fifty. Zimmerman, vol
. untecr, had three votes in Bcccrum. tw<
in Dublin, one in the Lower Buffalo, an<
ono in this borough, (supposed to bo ens
by himself,) making ft totnl of sevoi
The extra dropped from Zitn's hand
lie raised up his hands, moved toward:
the door, then looking around full at thi
i gnP>n? crowd, and rolling from the bar
, room, lie was never again neara ot 11
\ Bugsburg.?Spirit of the Times,
C1T I o^ ?
^ F. N. Garvin having applied to me fo
1 letters jo Administration on the Estate o
' Eli Fitzgerald, late of Pickens Dis
f trict deceased. The Kindred and Cred
tors fire cited to annear before mo o:
' the 24th instant, to show cause if an
f they can, why said Administration shoul
' not be granted.
Given under my hand r.nd seal 1 Oth da
1 of December, 1840.
1 W. D. STEELE, o.pd
S OM E T HI NGN EW
IB a.^ m. m irm m. v* m. irnm ?
? a A'l"
I am now opening at this place a hand I
some assortmeut of Fall and Winter
i Goods, consisting in part of C'oths, Cassimero,
Tweeds (all wool) Kentucky jeans,
a fine assortment of late 'yle Yeatings.
I A m ?at variotv of winf.i>r .rnrirlAu?I..nfli?-1
I o j -- ?
I went*. Fancy Prints, of jSHBMHiew
' patterns, at. 5 cents per i11
warus. Muslins, oumui iw, mBgiionfi,
1 A large assortment of well selected
Shawls, Blankets, Shirtings, Hats, Caps,
Bonnets, Boots, Shoes, Saddles, Bridles,
Crockery, Hardware, Medicines, Sugar.
Coll'ee, Salt, Nails, Bugging. Rope and
i wine; as wen as un omer arueies usually
kept in a country store, nil of which I
will dispose of on the best terms.
I will always be pleased to shew my
Goods to those who favor me with a call,
free of charge. L
Hachelor's Retreat, 8. C. l
No . 3d 1849 tf
I it v nr"nnv 1 Tn ?r wotvtt "1
| >. r, i aivui .j | n. xti. nn.ua, |
PERRY &j KEITH,
AttoriBcyg at I^aw.
Will Practice in the Courts of Law
and Eruity for Pickens District.
Okhce, Pickens C. II., 8. C.
October 1, 18m t2f2
1 _JAMES V. TRIMMllBR,
ATTORNEY AT LAW,
SPARTANBURG, C. H., S. C.
Wii.i. practice in the Courts of Union,
Spartanburg and Greenville.
All business committed to his care will rccoivo
prompt and faithful attention.
IIo\. D. Watxack, Union, S. C.
T. O. P, Vernon, c. f. s. d., Spartanburg, S. C
May 18, 1849 1?tf
Dr. J. IV. Lawrcncc.
Will attend punctually to nil calls in
. the line of his profession. Unless absent
on professional business, he may be found
at his Oflice, or his private rosidence in
the Village. He nlso, hns on hand a
i general ^assortment of medicines which
I he will furnish to customers at reduced
1 Pickens C. H? S. 0. )
May 18,1849. ) 1. U
Tenders his Professional Ser /ices to
the citizens of Pickens Village and the
. District. He can always bo found at his
, Ofhcc, or at the residence of Maj. W. L.
; Keith, unless professionally engaged.
I He hns received a fresh assortment of
[ Drugs and Medicines, which he will sell
Pickens C. II., July 28, 1849. 11
5 in the commom pleas
P TOKENS MS TRICT.
t Henry Whitmire, ) Dcc. in Attachment
r vs. > E. M. Keith
\ John Bishop. ) Pl'ffs Att'y.
1 The Plaintiff having this day fded his
declaration in my office, and the defcnd5
ant having neither wife nor attorney
' known to he in this State,?On motion;
'' It is ordered, that the defendant do apf
pear, and plead or demur to the said de
> claration, within a year and a day from
j this date, or Judgment will be entered by
> I default.
i \V. L. KEITII, c. c. p.
' | Clerk's Office, )
I May 10,1849. J 1
L Pickens Jlcademy.
APPLICATIONS will be received by
I the Board of Trusiees until the first Mon"
day in December next, for a competent
4 Teacher to take charge of the Academy
1 at this Village. At that time a selection
5 will be made; undoubted credentials will
" be required.
1 E. M. KEITH, Sec'ry aiul Tres.
1 Board of Trui.
' Pickens, C. H., S. C., Oct. 27, 1840. tf.
Remaining in the Post Office Rt Pickens 0,
* II., Quarter ending 80th Sept., 1849, which i
" not taken out within three months will bo sen
? to the Post-Office Department as dead letters
George Barnes Joel Moody
t Wm. Bootho Jolm Owens
1 James Baron Fostor Perry
James Cannon Sarah Ann Hankion
. John Couch John Rcid
' Gen. J. W. Cnntev R. O. Reirister
8 Daguerrean Artist Vrm. Rowland
D Garner Evans Aaron Roberson
- Wm. A. Edwards Committee of Safety
1 Har<Iv J. Fennel James R. Smith
Ir/t. ii, OiuabriU Mnttlww Viokrv
Wnj. Howard Jamos
Jcbbc Jones Robt. WilsnraU^^
0. OJ. M'Gregor Samuel Wilson
*1 Dr. R. Maxwell John B. Young
f P. ALEXANDER, P. M,
l- Oc. 6, 1810.
y All Persons having demand:* against
i the Estate of Sheriff Hayn?f, deceased,
will hand them in leg*Hy atkeated TJbos?
y junta b ted must maagaeyrnent;
. .tfli STEELE,
Noa. 17th , A: Adm'r,