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Keowee courier. (Pickens Court House, S.C.) 1849-current, January 19, 1850, Image 1

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" TO THINE OWN SELF HE TUCK, AND IT ML'ST KOI.LOW, AS THE NIGHT THE DAY, THOU CAN*ST NOT THEN IIS FALSE TO ANV MAN."
VOL. 1. PICKENS COURT HOUSE, S. SATURDAY, JANUARY 11), 1850. NO 35
'I'm.' I
KEOWEK COURIER,
PUISTKD AND rUOLlHIlKD WKKKI.Y BY
W. II. T1UMMIER.
.1 W NOlMlty In ?
k. m! kicrnr,' [ editors.
TERMS.
Ono Dollar nnil Fifty Cent* for otto yoar'n
mibscriptiou when paid within throe months,
Two dollar.-* if payment L delayed to the close
of the subscription year.
All subscript ions not clearly limited, will ho
eoUHidcroil its Hindu for an hideimito time, and
continued till a discontinuance is ordered and
all arrearages paid.
...-.i.ivu 111 in cents per
square for the first insertion, and 37 I-'2 cK for
?acl? continued insertion. Liberal deductions
made to tho?o advertising by the year.
All Communications should be addressed
to the Publisher post paid.
January 4, I8,"j0.
Senate.?My. Cass' resolution for an
inquiry into the expediency of suspending
diplomatic intercourse with Austria,
was taken up.
Mv. uoss said he was not aware that
this resolution would he opposed. A spirit
of intercommunication between nations
had made them one great family. The
age was advancing. The press announced
the judgment of the day, and foretold
the decision of the future No one was
above its censure, and all governments
J/taiMA.i - : n .1 ?:
vAi^oui uouc opinion now
ruled the world. Mr. Cuss showed that
there was no commercial necessity for a
minister iu Austria; and, in performing an
act of moral justice, we should not prejudice
any national interest.
lie did not pretend to say that this
rcspluti jn would notollV nd haughty Austria?'particularly
in ha- present humiliated
condition?forced, as she was, to
humble herself before liusswi. r.'Vis resolution
would lose half its value if it were
not considered as an act of censure upon
Austria.
It was our duty also, by this means, to
1 I -1 11 - '
vApivoo *1111 lll[MUiy Willi IliU sn uggling
millions who were seeking the liberty
bestowed on them by God, but taken
fro 11 them by man.
The interchange ofsu#h sentiments between
nations would alone promote the
interests of the masses of mankind.
//o hoped to have the no operation of
the Senator from Kentucky, (Mr. Clay,)
though he feared that the Senator, from
a playful remark ho made, belonged to
KWVi OI*lllU-S?Lll I OCIIWUI,
lie hoped to have the aid of the Hon.
Senator from Mass., (Jfr. Webster,)
whoso recent noble speech in the cause I
of Hungary, was equal to the highest efforts
of the elder Pitt, in his brightest
day 8.
J/r. Cass read soma passages from Mr
Webster's specch, and also from Mr.
Clay's speeches in behalf of Spanish Amcrican
lndancnrlonrw
f . ( I
Mr. Cass closed by disclaiming nny objection
to the gentleman who hud been
pent to Austria. But if he were a Franklin
he would not continue him there. Uesides,
his precipitate flight on the eve of
the meeting of the Senate, presented an
insurmountable objection to his continuation.
The same remark be applied to
Mr. Letcher, who left for Maxico on the
22d December, and should never have
his vote to rem lin in there.
Mr. ?S'oward vindicated Col. Webb.
Mr. Foote commented, at sonic length,
on Mr. Seward's espousal, on nil occasions
ot the cause of the Executive and his
Cabinet. He remarked on Mr. Seward's
consultntions with tho President on the
last night of tho latesesaion, in relation tc
tho tori itorinl questi n. Mr. Foote pursued
the'.subject in a strain of much humor;
and pure satire, at some length.
Mr. Hale expressed a desire to be
licard, and tho resolution was postponed.
Tho Senate adjourned to Monday.
i\ V U% \Y Ul' UUrtUHESH.
T'hat the next letter rany be properly
appreciated, wo take the liberty to say
that it is from tho pun of a distinguished
Fronclt gentleman, who has been brought
to tlv'? country by a desire to ntudy tho
character of cur institutions nud people,
as well in furthorancoof co'lain scientific
enterprises which he is prosecuting with
gi oat steal, and with oncouraging prospects
of succoaa. On his return to
l'ranco, it is his intention, wo believe, to
publish tho results of his observations in
a volumo or volume?, in which case wo
may oxpect a work of great interest and
?.iL \r v r? ~Fn
?ai . * . vunr, ?// uv/w/wrw,
' Washington, J)eo. '49.
In thoold world nations employed
many centurics to attain gtandcur and
civilization; the American empire has bocome
great and civilized in loss than a
century. Itraaybtsnid to havo sprung
1
iiKo iWinervn, from the head of Jupiter.
Washington brings to mind Home. Not
that the seven bills are to be seen, but
in this area ji few houses are scattered
here and there. But while the voids in
Rome result from the ravage of time,
and are covered with ruins, the voids in
Washington are those of a virgin soil; and
wliil.t .1.... :
i ......v uiuiuiutL'.'i me remains 01
I Rome, e\ cry day tills a sp;i:e marked by
the foresight of the founder of WashingO
O
I ton.
I 1 ivio it is, St. Peter's is larger than
the American Capitol; but St. Peter's
was the last efYort of the Roman power,
dwindling m the hands of a'l'ope.
I 'I'lin I list if lit inno Il.?t " - *
irlllll IllilUV UUIliU (Tl'Uilli
I could alone lieep her so. As long as
those institutions wore supported on the
i large basis of the people, the Roman cmpi.ie
stood; but it vacillated and fell when
i the republican institutions became cor;
rupted, when power passed into a tyrant's
' hands.
In nil new countries men nre of equal
strength. Theyhnvo similar wants, they
have similar passions. Institutions do
not destroy strength, wants and missions
o * I
i but develop and regulate them. So long
! as vlmerica remains faithful to her institutions,
so long will she prosper.
vlt the opening of a new session 1 was
anxious to observe the workings of these
institutions. l.do not know, nor care to
know, what litis been written from Washington
by various correspondents belongI
ing to different parties; but that during
! twenty days of inorganiy,-ition so much
I i * -
i 1..V11UU ii.ivo ruiguuu, aunougn the
lower chamber was presided over by a
i Clerk, is to me a subject of admiration.
! The deliberations were steady and com!
paratively calm, considering the great
; questions that were agitated, ui Speaker
becoming a candidate in one night, obta'ningonc
hundred and twelve voles
and falling suddenly to the ground, as
well as some angry words spoken in the
heat of debate, were mere trillcs when
i compared to what passes in another reI
Ml. 10 w? .... ?i.~ -.1 - ? * '
, .v, wii me ouicr skic oi inc yitlantic.
Americans arc evidently made for
i self-government, and the last twanty
days, passed in an abnormal state, supi
port this opinion. Yet 1 admire the
! foresight of the. constitution who placed
1 the t o it (f empire far from the operation
I or a mob. 7/ad the Congress been held
I in Mew YorV P.n-io 1 1
i.;, Ul IIWIIUIIII, 11 WOUIU
' have been impossible to prevent the mob
I from assembling around tlie building, and
the deliberations would have been iuiluenoed
by tho pressure from without.
Indocd, the members went to Congross
as to a scientific meeting; they stoically
bore tho tediousncss of sixty-four
ballots, and ended by organizing the
I House. To an unprejudiced mind, the
calm and perfect quietness of all the citi
j zens of the Union during that little stru^!
gte, shows the marked difference be|
tween the United Stales and Ih Euroi
pean Governments, 2'he President wait
ed patiently the organization of the
House, and the country did the same; so
? SI !.?.?!?? ? 1- - A
kvi unit me mo ^vmoricaas that they nro
masters of themselves, and that the noble
and gigantic structure of the vessel of
State cannot bo wrcckcd on a grain of
sand."
oi'itiEjO'ri OF (VOL. XGER
ON 2'JIEBANK QUESTJON.
On motion of Mr. Memminger, the
Z/ouso proccoJcd to the special order of
the clay?which was the bill rep ?rted by
the majority of the special committee on
the Hank of the State, and the minority
report of said committee.
Mr. Mcmminger, in support of the bill
said that ho felt tho groat responsibility
of the measure which the bill proposed,
but that as a citizen of South Carolina, he
hacl determined to dischurgo his duty
faithfully. 7/e wouid not, he said, be
led aside from the dischargo of that duty
by any false issues or any invective
which might be drawn out \? this discussion.
He felt tho great interest tho people
of South Carolina had in this* mutter,
and would approach it divested of all
feelinrr or mnttitr t.hnt i>? 1
0 V..?,v ?? VMIW UU |il UUUU*
live of excitemcnt, and lie trusted all
would come to it with calmness.
lie said ho would undertake to demonstrate
that tho bill onght to pass, but in
doing this ho would not address uien who
had already made up theii minds upon
the question. He knew that there were i
some members, who on this, as well as
upon other questions, hud come to that
IIouso with open minds, and it was to
those he hoped to address himself success
fully.
The Legislature at its last session had
resolvod that it wiw inexpedient to recharter
this bank. The Hous?, the Sennte,
and tho peoplo, he snid, had pronounced
upon tho question, and ho had
not imagined ?j?y appeal should conic
1 from the bank itself. As for the bill bc'
fore them, it stood upon the decision of
! the Legislature.
The bill being so bused, three queslions
arise with regsird to it. 1. Win-til-,
j urn change in the plan of conducting the
bank was necessary. 2 Was the plan
proposed proper.
I fl he gentleman wont on to discuss
! these points. Did not the decision of the
Legislature impose the necessity of chnn!
ging the plan of conducting the af fairs of
inis institution'.'
It did so, hcsnid, for if not chnnged
they would be obliged to rc-chartoi it at
, the expiration of its charter?they could
ont stop it then, because they would be
obliged to compound with its debtors.
The gentleman would n^k the House if
any man, being a member of a co-pai t
nership, alter a time had been appointed
for it^ termination, would conduct his
l)li>;i!io^s nn tlin cnt?? - -
?- m. vuv oiunv/ ov/iuv; t?r> 11 IIHJ CO"
partnership were to continue forever/ If
it were revealed frwn lleaven to nil individual,
that lie would die at a certain
time, would lie nob set his house in order?
1 i such a conditio-! was the Hand, hv the
decision of the last session, and tli?* question
was, would we not prepare for the
c/enl. But further, as it was determined
not to nw.h.irf I>r ilio
were bound to say what we intended to
do?what wo will do.
On the second point, the gentleman
would have but little to say. It was evil
u that in a time of pi nic the bank
could not bo wound up. At a past time
1 of pressure and panic, he dared not say
j what he believed of it. Hut now fortui
natelv evervthincr wne '
, ? ^ -;o r,w
J tho community in a sound position, lie
himself had heard factor after factor say
that they had money in thei- hands, of
(heir customers, not asked for; money
was easy everywhere, and now was the
tiaie to prepare for its liquidation, //ad
1 tho hank now to meet its engagements at
I once, its cash liabilities were over one niil?...?
*< '
iwu uiuic umii us ensn assets. Hut by
! the plan proposed, could call i:i enough
' to meet its demands as they became duo.
The gentleman further said, that we
have to tell debtors what wo nrc going
to do, and if we do not brg'n now, we
never will, for the bank will engage aid
fro.n every sourae, from the mountains to
the Atlantic, yes, across the Atlantic
they Iiad brought aid. Would thcv
sloop in I80G, when the clmrtcrs of llic
other banks expire, or would they not
combine to produce a panic and produce
action. Under all these circumstances,
now was the time.
"With regard to the plan proposed: It
hod four leading features; first, the rcduc
tion of the number of directors and salaried
officers; second, tho continuation of
the charter, except taking away the powor
^ mnlrrt 1 -1
...onu ui;i? mini, me extension
of ten years to the debtors of the
bank; aiul fourth, regulating the payment
of the foreign debt.
i The first feature was A plain proposition?to
have one president ana four directors.
Was this reduction 'if the
I board adverse to .!?? nr<a:?o ?i-~ >?10
- -- |/|OIUO Ul IIIU lUIIHv . j
Why, twelve men laid out $8?0,000 of i
the money, in nil a millloi and a half?
three hundred and fifty thousand dollars
I more than the capital of fhe bank! Docs
any one doubt but that it will be cheaper
to pay the di e;tors? True, our doors
are beseiged now by men begging to be
allowed to serve them in that capacity, I
but their purpose was the discounts. l>y
] paying a 81 larv we will get men wo can .
rely upon, and who will bo responsible.)
Are four too many to transact tho busi-1
| nossT 7 ho salary of one thousand dol-i
lura was not too much, but with it wo ,
j could secure the services of competent
I men, as it would not require all their
! time.
But we would oavo expense elsewhere, j
l i i- ?
i i hi-, muni, uv us own snowing, had made j
I . 1
I [013,000 for the past year nett profits, but
! it had paid #40,910 00 to get that profit, j
! A lino concern, whose expenses to make j
$10.3,000 was ?40,000, upon a capit.d j
which, if merely lot alone, woul 1 produce j
$122,000 at simple interest?a sum almost
equal to the entire salaries of the
State oilicers! This bank, ho said, had
palaces to conduct her business in; the
building in Charleston alone cost $40,000
the rent of this, lost to the State, and the
ir.'.?rest on the investment. 2'his sum
ought to bo added to the stated expense.
The bank, ho said, would go on as
usual?a bank of issue and deposit; keep :
the money; issue no new bills, and contin- |
i ue jus the first tWeal agent of tho ritute. I
Ho would ask, was it not proper to say I
that we would nurse the capital of the J
bank? Why, it was only tho sanVo j
thing as if tho directors t emselves had
resolved to discount no new paper, j
There was now $3,0A0,000 out already; I
and ho would observe that nothing <v.iu I
i luoic C( i) iron tluii) lor bi'iik*, in tunc of j
I pressure, to innke such ft resolution.
The committee tell us that the debt is
stationary?yes, the bonded debt mi^ht
be stationary, but do they mean that
there are no new discounts? Do tlicy
suppose that the debtors pay up out/
00 d ys?
With leirard to the ovinnsinn ..r
Q - ,'1 ll,l,v I
to the debtors: the bank will not be pre- (
I vented from discounting renewals, but
| there will be no new loans to renew, and
the old ones called in to meet its engagci
meats. All special debts, bills of exchange,
etc., will be probably paid at maturity,
and will put the bank in funds to 1
/l.mnwt.. rr\ ?i:? -"I- i- -?
liv; bICUIb ' M lllCOilllK I
; will not bo affected; their bills, lu* said, ;
would pass currant for years after the
charter.
The fourth feature of the plan proposed,
lie said, seemed to mystify more
than any thing else, and that was the pay
1 mcnt of the public debt. Why, said the
gentlem:;n, the bill provides that the sur- j
plus funds on hand shall be applied in 1
that manner, if the bonds cou d be pur- j
j chased at or below par; if not, they
Muru to oe invested m State stocks. It'
| the bank should have one or two luui- 1
('red tho.is.md dt liars on ha d, .he hi 1
directed it to apply it to the debt.
i The gentleman did not like foreign inj
tcrfercnce, like the lJnrings' letters. Hut
what do they say? the only mode to,
! wind up the bank without a violation of
J State faith, would be. to employ the
funds in purchasing the bonds, The bill
; of the committee says the same thing. If
i iho lJurings had drafted a bill agreeably
to this view, they could not have drawn j
I one more in amtrnwiil? ii>.? i.:n i..? I
- 11 1(11 VI1V Ulil UU* |
' fore the House. Mr. Hates says wo can I
I buy all the bonds up from !) to l per cent I
; under par. That gentleman propose:; a J
1 lottery?the prizes to pay the State debt
1 at par. On the face of the bill we offer
1 dollar for dollar. We will employ an
j ngent to ascertain on what terms bonds
i can be: bought. Is not the bill then just,
{ fair and honorable to the people, the
bank, and the foreign creditors'? If not,
the gentleman said, every objection
I wchiiu uc met.
I Mr. J/emmingcr then proceeded to
I answer the objeclions in the report of the
! minority, lie demonstrated tlint the
foreign creditors wore now in a better position,
and better secured than they were
when they loand the money. Gon. J/cDuilie
told them when the loan was contracted,
the debt of the ?S'tate was $1,700,000.
l>ut what was the case now? .
i thai sum was reduced to $482,000 and
on the second of January next, would be
?206,000. J/r. M. said if Mv. Daring
was on the floor now, ho would say he
was perfectly satisfied. The public debt
would be one million one hundred and
seventy-four thousand dollars loss than
when the loan was contracted; and therefore,
rlie lenders had that much more security.
lie Silid that it. pMiilrl !>' I
| meant that the Stale could not change |
; her investments. The bank iUelf luid
' sold the stoitk of the Bank of Charleston, j
: Did the bank consult the i? cigh cicdi- j
1 tors, did the. Legislature consult, when |
1 they invested the money in our railroads?
i 1fthe faith of the &tate will he broken j
, by the proposed plan, then, he said, we
1 have bioken it again and again. But it
! was not so; the oiaie had a light to I
1 change her investments?the State hnd I
j done right, only she sold her slock when
every one else held on.
AVe do not interfere with the pledge of
the profits of the bank. The position is
t assumed that the profits will bo less,
i Let us see; the bank says all the capital i
is there now, and four hundred thousand !
dollars more; but the gentleman would j
uu cumeiii io get me one million seven
hundred and forty-two thousand dollars.
2'he whole debts are one million seven
hundred and forty-two thousand dollars.
1 his sum, it'loaned out at 8 mjilc interest,
will bring in 222,000. What does the
bank say? It has made and brags of the
result, 103,000: consequently wo have I
lost nineteen thousand dollars by the op- I
crat?<?n. The gentleman was anxious in !
stand upon the tinth?the friends of the
bunk assert tli.it it has one million seven
hundred thousand dollars, which wo
have shown, if invested, would produce ,
one hundred and twenty-two thousand,
nine hundred and ninety dollars, and the |
bank report tells us they havo mado 0110 |
hundrendred and three thousand dollars. |
But let us disabuse the people of all mystery?let
us relievo tho the ouestion of
tho cumbrous way they make out their ;
account* ?and all is plain.
Hut, Mr. M. said, it was worse than j
the above. There was 0110 million fiftylive
thousand dollars surplus of the lire
loan; how much, heVoulu ask, was made
upon that? The profits upon that was
included in the whole statement. If that
sum was loaned out it would produce
seventy three thousand nine hundred and
??r. ? win n ? Mut m nihil *u>n?-TJB?
fifteen dollars. ]5ut there was anotlur
item; tlicro were two ways to make property;
one of these was to diminish expen
ses. Jvow this bunk was a veiy expensive
machine; it had paid an attorney
f..u,- tliousasd nine, hundred dollars in
Clu.r'e ton, the officers'salary ibere was
32,05)0. The plan of the biil would reduce
the expenses in Charleston to ten
thousand dollars; in Columbia to one
thousand; in Camden to eight hundred;
milking a saving ol twenty thousand dollars
in expenses, and in all about liftvll
VP f lwilKUIul /1?*1 1 * 1 '' "
-- - UVIKd^i Olio 115111 Ol
the whole profits. Will a .y man, upon
(hut .allowing, sity, the, f;iilh niui honor of
t he State arc in jeopaidy? Why the very
thing upon which the credit was bused
was enlarged; and it was evident that the.
contemplated action had increased the
credit. The barings tell us that the
bonds selling hitherto at ninety one,
could not be bought now under ninetylour.
They know well the means provided
for the payment of the debt.
The next objection was that bv the
present notion, tie charter of the bank
wnstnkon away, and that the fkcal agent
of tbo Stale was pledged. Tho bill
don't do-troy the bank; the only tliii g
taken from it was the power to loan
money; and r. M said, we have shown
the bill increased its power to m d;e money.
The bills out could not be gotir,
because the credit of the State was too
good.
The next objection was, that the bill
...JM..ICU ?>u ma ny stunucu oiliccrs
in Charleston. Mr. M. said the bank
was there now, and that there was no objection
to 'thirty-thousand dollars paid
in Charleston now, six thousand in Cuniden,
and seven thousand in Columbia; it
was all well because the bank did it.
The next objection, J/r. M. said, was
the concentration of the resources in
Charleston, 7/e would ask wheie were
they now. He would ask members cast
nf 1 ? '
now mucn iney Jiad, and
(lien what lincl Knit Held, Richland and
Charleston. The plan proposed was the
only way to brcnk up concentration.
7'he last objection, loaning the money
to a monopoly of holders of folate stockt:
The biil proposes that, if in tl.e recess of
the Legislature the foreign debt could
not be bought at or below pa.i, instead of
letting tin; funds lie idlo, they weietobo
invested in State stocks. Mr. M. asked,
it r. * - ?
...io u nuy mvor iu loan money on ?>UUe
ft ck. ylny bank would thank any one
f >r asking a loan on Stale stock. ISoutli
Carolina could borrow millions on the
promise of South Carolina. Mr. M. vns
satisfied the Legislature would do its duty.
yfmong tlioso nccompnnying &ir Henry
Pulwer, is a young midshi] mnn, who,
being served by an Iiisli waiter villi
buckwheat c-kes, a few days ?incef asked
'How do yon ont thorn?' l'nt?With
butter, f ir, and molasses,' at the same
time putting a plate of butter, and a large
j i i l.or of molasses b( fo e the astonisb< d
youth. 'Pancakes, aint they?' says Middy,
ap] a'f-ntlv delighted at tho discovery.
Pat?'Yes, sir, buckwheat pancakes.'
M.?'Put what are they made of, eh?*
l\.t?Why, of Indian male, sure!'
The Odd Fellows.? T'hc Washington
Globe tlnis bears testimony to the great
increase r.iul noble mission of Odd-Fellowship:
" ITo believe that in the whole history
of (he world, there is no instance in anv
.. ~.c ? !
wuru ui un:if, uiiiimcd i>y power, wealth
or political influence, who have from an
humble beginning risen so rapidly to le
but!) numerous and opulent, os the Independent
Order of Odd Fellows. This
fact is itself an eulogium on the Order?
on usonjects, its conduct, and itindminis
tint ion ?'he great nim of it is to do
good, nnd the only nim \vc believe. To
comfort 1 ho sorrcw-stricken, to hcnlthe
sick, to feed the hungry, to elotlie llie nu
ked, nnd to relive tlie necessitous, n ret ho
cardinal purjwsefl for which Odd Fellowship
wjis instituted. So fnr it has
nobly fulfilled its mission, nnd its success
hits fnr exceeded everything thnt
could have h^en nntieipn'od. Every
ivnoro inc Udcl-bellows nro erecting nolile
buildings, tailed hulls, Which nvo not
built f >r show altogether, but for use, and
they arc made Useful always, we believe.
A remtrhtblc /?(//?>?.?The Wisconsin
Argus, speaking ofnn nlmck of some
Indians on some boats and their crows,
in the rsirlv liielnw ?*
... ??. u? uuiiurii HIACUI1MI1
jftys: "In this position of nfliMis, an effort
was made to board, nnd a strapping warrior
jumped into the stein, seized the tiller,
and set the vessel ashore, but not till
nftcr a bullet stmck him dead

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