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The Sumter banner. (Sumterville, S.C.) 1846-1855, December 06, 1848, Image 1

Image and text provided by University of South Carolina; Columbia, SC

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn86053240/1848-12-06/ed-1/seq-1/

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nj d lityd'y114 v ih lCa t
* -iR Oiilfigo.
W8.111~s cheihed nalitueis
~I YX es- d finwin r Iico
f it. a iai yiitilnoes
a Aw11 -t Ci'nonv tos~ isugt
1! nslu. his b
~U~t~qof t Op diessnd
ye 11Vbnn -irrnkrn
Wlfi ~''h condi ion,
bpAd~cuwil ula
hJint .laigh ils Wisdom
wi ofi theriio
-1 d
nd!'df i#dit
acanst his 1iand& n d2
that if there 4vaa no Bsnk'fthein e h
pnt~ the sameatjfemr a ea
th d t
the , tou o hre p -
stAinovself.eignSteio* ise ett4le
e pIc!stibe mese Io efifjainR on
the question. Wolrii evsenprjtip
cnt to close thaiank in sd wind up its
concerns ntithis timo?
.Tliere'are very many reasons'whv in'
my judgmenti, iis tbAvo e inexpiriieit. I
1 *ilI'hotica '~wdnly *hich itl lkl tne
ad entirelv .ifii-y '3d1i"'
the repor of tt Oinptroller Gne(a.tIsI
liabilities of theWBansk of all sortis ialnount
to and the citizens of the Stat4,' if- nit
the ole, are the' principa[l debtor-- The
credit systemtis unhnppily-se 'interoven,
with our hiabits of business, that eaiiteK
severe li'&bris that ve iii heen tabght
fromr time io ti6 e by dq :
:iost. in .the price our at piemd the con
sequent darange ment injll of our pro-du,-u.
tive pursuits, have not. been' enabled to .
corrret it. - We, are therefora now, in
cosquenti of Ih'e low prioe" bfourag1i
Clt url pr6ditriis, Mn! the 'itst of one
ofthose-revulsions of co.tmerce which
inevitablv brings with it scaroity of-cir.
I culatingrnediutr, 'awl an "increased c-A
mant fur it. .Close the Bank now,11anl
stop its insnes, r.nd at least one source of
supply bei.mit Ot.
Voluntary payments to the BAnk,. and
exery iebtor that has the meansswould be
disposed toget rid of that leApops ititv,
vouli fo tbot extent dimiiish the circ i.,
tion; and to force ,cplections, wvpuld. be
productive of incalculable. distress to the
oommuunijy. -
There is another consideration of einal,
if not greater importance.; The capital
stock and the profits of the Bank, aigsol
emnly pledged on the.'faith 7of the State
for every dollar Aho has. borrowed, from
the year 1820, down to this tine. The4
act of 1838-authorizing iwhat is calledihe I
fire loan: o'F(wo million 'of dollars;(62,
000,000,) which' ide h' irst.the ast,
makes the uiame pledges, andIhe siderOno
spad onyun itournidslhos ihat te
agent who efoetlisis loaiiand he]
chaseraolh siok,hadl regard to themN,
In the negntiniion f'or the loan. *The char.
hater of- thei~unk citelfvir involved in
these pledges--he neglect to fulfill therm,
would-involve her in disgrsee, sand) comrn.
eel her tn shlta het' doorsW ft is, therr'fure,i
reasonable to suippose, that it flacilitated
the negotisation, and increpped the nppre-.
ciation of the stock. I can add nothing
toswhut lias been saidain the report of the1
Committee of the Senate, at the seksion
in Decemrber. 1840 to-show thtat closing
iho Bynsk uiow, and - thus: entiing.;off. -thei
profits, would violate these pledges, and
pesan.act ofa/ #desundl thenworse
thait thte creditor lt withut rebireek~ The'
Bank is the nwrc creature of the pi'te,1
wvhich may dhispose of its funds ha naught
be thought fit.; Shse is ntot liable to'sail
sand the onsly sdcaunty which the creditorI
woulhl hove, would beathe fasith of the St atei
eslrendsy violsated. Itis true, thaot by shut-.
;insg sp the H~ai, and -pallinsg in th~eI
h-ehtsdueto it,-nes might hba twovided
j'rrr. he psayrpent o9f: i.. pyshlo dybi. Hut
t46'fget af cuitmrg ofli thid seurit o
hs--psnyjiint, -woesId ineavitably, spater-5
inflly nfl'raithe prise of ,theo utookas, -nnsd
operatos insjuriotusly 'to the holders-a con'
P~'saquen which I am bare-uve~y clietin
of the Stitfe wo~uld deligeeoe.
Iti:'hdsk'Ad,'if t hiisinsitatin is to
be perpetuated pad rivetel-tpaont~ pros.
periy .fr alstin~tscom? Ihope nsot.
Th~hefng ia hpdilcomb,
.wkteittwll-hus 'itae and prudent to eloen
wr g to feltqss Ct ev itt .wouldk?9
de0 pftun vorihy and
di~lia~f~npL ~. ehayestittle~ to- ap.
ar e
eO tI .hditi hMi41
0 CO
istlet the int ruIodb
1 YNe~ ufht giternmentj the'13is kall
'(ariId ead r"i ty and bidedaeig
withi 11 i euauejirlation angaionu
Lbs:_R tudet!gand e'Wa increeqed ,;nlito
0h ldntGnainreoseddy"imltion
to noquir, knowledge are the -necesary
AThe etcside dditional acoomiieban
ora Ijet&4.epfAi pjected~the
IAlsq4 et sanOL
his ~ ~at. aItst n
B" CT I 'Ad
I,6 Pmeted n a manner i a
?aytothe Ifbet and" bet iihii
blcge Buildings'and" yet there A!n
onrm to . pa'e. 'hie stndenutaniear
low two-hundred and fifly.fve ieilding
ho graduating class/,which is thirty.e1ght
n .ngber;,butitJ i probable. tht ei
lace will be suh Hed by the form Ian
I a ,new Frs ian glas. i inii1
ah Carolina,-Tennesse, 1corg, P.
riailik1ppl, Lulsiana and ras;
ali hedeiesentahives aniongst 'the stut
patton thiatithelightia otbsetiaeitend lte
iture eminating ftemthis cherIlednis
slttiionwill beseen thtoughout ithe. en.
Lirnetent.ofithsk8outhern portIoni of our
Dor.federacy. ;It ay,.Asnd the time may
aven now have arrived, when- it will be
indispensably necessar to enlarge the use.
ruinjs of he Colle17y vfdig for in.
itrition inasome brah of the'iecdes
ind literaturethat ari et now taugh in
t.But the-subjet:.belongs more appro.
ritely to the Board of-Trustees, to.wahose
indsit has beens wisoly confided, pud
here 1- willingly Icave it.
I should be gratified to present you with
an equally Ilattering.account of.thoe con.
lifion of our Free Schools. Defective in
Lhe frame work of their original structure,
hoy have.drage on as 'wretched eis.
erice, i f,-indeethey can be sadtoexisi
t all, down to this-day, at an immense
yost, without any ,rpaent benfits, ol.
!spt in'thptownsifi ottes whore, from
he!dneness of the population, the funds
ppropriatodfor their support can-be con.
ontrated so as to maA-its Influence felt.
repr aner yearihe attention -of the' Leg.
alatureshas been callad-to:thAi subject by
Wiypredeeewsirs in office; and: again and
again legislative corinnittess .havo ign~
lireocted t9 exnmninpinto their c.6nditini;
and whilst all concede and exposethiedes
rective. operation of the isystem, no Imea.
mures have been token towards its im.
arovement.: The will to do i i cetainly
io/ant ,fo# it is a subject in which
very inidividual has an intereiit, and i
san only accotant for the apparenu apg.
hy, by supposing.tbut no one -jcgeys,. or
has thedsensofsknowing what is wanted
.o carry it into successful operation, with.
ma the means appropriated to that ohject:
rhe defootA 'of thzei.systenm Were' early
seen, and having bestowed'abnie attention
0 9i o reai herja4 j iloppor.
l mengma pewrsonaliknowedge coEthe 10.
slIties and population of every poriion of
hei States) l.amiutterly unable to suggest
any improvernent likely to produce re.
suIts correspondling irrupy reasonhule pro.
porti itollh&fvdel liaI-g Ishi~nnially
rtxpendadd: iiitheir usupport.- The lcsal
Boardis of Commissioners cannot be relied
in ior the naeoeM&Ihafonnaisi~ e thqy
wt without equeertor~ un iformity odf'As.
um;- and I sufe to the .Lr'glslafird
at Its last nstilo'thie (l'npriety 'Ip~n6
heoto vfmit every paraten ofihe ta.o g
~all; Qharged, especially..wh.acallectingl
all the information-he could obtaIn from
Iu~as;sand td ode aflialssuItedto the
icasin.' Witlet plan'Iti beIvis
B4d3 (m vr onin ,isat~ ill bie
RIaWd that heo iitbsgeat d lpoy
~comtnItinotora even in the 'pr
mydprnients o'f~nmanglishrdues~
Ion. mIt is possible that there~wIll be fodnd
rn everyidlhtriot, afew young persons of
both sexes who would
* f lipi iesqnntr
I on I ansneseso4wno
4 T
~Jb401 ---
re1" t n 0
lf ' tat
nret n oq di
th h
ion tfencV7
gen u Ib linlt
tical rif on- ini lIAM
follofil ths
tain ing sofbnsfditinal iIsFi
tioneon-the sub'e'et of normal-coli.
-The Cihdl ylei i n
h t
- t
rt Islout a A6ii
Otio' tng to y t
pten Nal[sFjpn.. e a;F
some repetit
nsi r tn. IrI w
the ipe r portoo i
the expe'nse of transpotation lia the ori
nary means fd@-Wurk~t '.iniddleave any
proftiisto 6tilpd ree t rIdi
eotion, whidid stgre
region ern
that, at the presentjoyAo ..3s't
a small nett incomp when the oharg iof
transpotation afddyidn Al c~i.
malfketsi from iny of-thkN~tfie ra' itii
at-a less expense than froni the rnountuin
region, gvh.ereritis grown i;t abungey
and. wth 4.0
mighijgqd~ wo ld be ncfpp d~a 1 L
any. extorwt j i
aljIupne in y s a ~I~
tricts, isnierrh ,is
frionitheinaiket in tiis dM cif
ol'the difTieice itfb&li p naW ii
the amo reason our great marts t
losed against thA iro produced in thei
f ho Nprther dtR nTjosqrrwa)e)
marks will apply t9 nlmot~ everyu~.~t~
*of prodiletion,tie ranapgrationo~lh
is expenswe on acuntof i the o
nark; and vr.ti*e6 fdIhK~t'heh1)g n
g(Sati- f'elih E*i rl.1,1isfii t$
reio totirds f ing t4 ib4 d
IiCrt f the State ill heibteaiton s
fleretofore .theythtve found a: mark.'k or
their agricultural 'productibnassamng
their cotngeigieihir
resent. ow sepries tiO
,The4i Columbinaand ,GCla~ion An a
Greenv joi ~p iirgaJbi;~~ng .t
of construtior. whAnpWpj
g yt a a, resn 6 "M In por
tionsof the nfrythrough wi I'
pas; b. t iflie former siould at
lern Coirt Hoi:ehich liitiy
bable, bothifltriiate~ iF'I~dt6E
regiorld Uetei'aeily
mountain dlsatts, aind vill leavei pa
I of more tha r ndrddemif
I eirnt i7 On
Idird bi9y hWop
Without the, rd 8f9hurie in t
(owehds their idoen liit
slw- kndri onidd
mend toynrbsdrt~
of aflording them some a s
the completion. nf4 ladal omd
$ionto wna iiitf'f
tion ar~e deatinedl 10 remai~~~h
ryesn sp -~:**-*mpra-' *
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4. 1 &
4T -0- -
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