Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-07-12
Until the Bank, cum mult0 lahore, was


erected at Columbia, the monied inter-
ests ofthe middle and upper country had
no deposit for their spare cash out of the
great city. The cotton buyers at Colum.
bia, Camden and Cheraw, were depend
ent on the Factors, who, as stockholders,
commission men, and sometimes as specu.
lators, were deriving truly manifold ad-
vantage from this monopoly. Hence the
Columbia Bank had to sustain one defeat,
before it could obtain legislative sanction.
Hard was the battle it had 10 fight with the
Bank of the State, aided, in fact, by all
the Banks and monied interests Of
Charleston-,hesc aided also by the Fac
tors-and, thus combined, was then form
ed as virtual a monopoly, as ever existed
in the days Of commercial darkness.
Too great an independence of these
liberal gentry would have been witnessed,
if country Banks, formed out of the capi-
tai and sustained by the confidence of the
community, had been established. With
their capital paper, they would have be-
come the means Of enabling the country
merchants to buy cotton; and, at The same
time, of circulating to a large amount and
a very useful and extensive profit, the pa
per issued on the faith and credit of their
immediate neighbours and fellow citi-
ZcnS.
TO such feelings and motives may be
attributed the slow progress which Cam
den made in obtaining even Branch of the
State Bank. Also the difficulties experien-
ced by Columbia, in procuring a charter,
difficulty equally experienced by Chcraw
and Camden in similar applications-the
latter liked to have failed altogether, for
her charter was only had in consequence
of the high favor in which Hamburg was
held by the Executive; and had not this
been the case, the whole of the banking
capital of the country above and just be-
low the falls, would have been confined
to the State Banks at Camden and Co.
lumbia and the chartered Banks Of Colum-
bia and Cheraw.
Charleston can get charter upon charter
and charter after charter; but, as was
openly avowed in Columbia last winter,
on the subject of the management of an
Insurance office, the Crackers were, it is
presumed, supposed to be ignorant of the
principles on which Bank was TO be con-
Quoted, and therefore must depend on
their superiors, the lords of the great city;
& in this way, withthe exception of George
town, the whole of the Eastern section OF
the State was TO depend on the Branch a,
Camden with a capital of $400, ,0OO-and,
that of Charleston extended to an amount
so great, as to ena Ole the Mother Bank TO
enlarge its accommodation to the already
we'll accommodated low country, TO the
amount of $2,730,407 81, deducting
Sl20, 200 81 for bills and notes in suit
the latter, it is presumed, comparatively
larger sum than is in suit in Georgetown;
and for which enormous crime, large.
wealthy and important District has not
only been deprived of Bank; but, in
the splenetic efforts, to injure indirectly,
if not directly, the Eastern sections OF the
State, the monied interests Of Charleston,
have actually, with all their "honied" ex-
pressions of attachment to their own be-
loved city, thrown the whole Pee Dee
country into the hands OF New Iork-for
now, that it has Bank, Cheraw is but an
"Outpost" of the Great Emporium;
and should Georgetown succeed in i'm
proving her Harbour and erecting Rail
Road from Cheraw, and continue to re-
ceive the benefits of the navigation OF
the Pee Dec, there is no doubt much
larger portion Of cotton will be ship
ped to New York, and au infinitely
larger mass of dry goods brought into
Eastern South Carolina, than possibly can
ba at present. The words $40 doubt' are
used under the strongest conviction that
the Harbour can be improved, so as to ad.
NIT IA fcet-and, if this depth can be OBJ
tanned, there is perhaps fair prospect
that still greater can be produced. But
draft of only 13 feet will suffice for
coasting or West India trade; and this
depth, those cognizant of the subject,
think, can most aSSuredly De altalneu.
Such are few of the ideas which
strike the mind on a consideration of the
leading facts on the subject. A necessary
result is the modus operandi. But, before
we alIude to this, we will revert to Doc.
l6o II. r. sess. 1856, by which, if
route surveyed, mapped, and prepared by
Col. Lang for a Road, from Portsmouth, D.
lilo, to Lixyille Mountain, near Morgantown
N. C. with but little alteration, be adopted,
it can be easily made subservient, not only,
first to lock g. dam navigation o:the Yad-
kin and Pee Dee, and Catawba, Wateree
and Santee; but, TO Rail Road down
the banks of either river-one of which
mouH Of COURSE he suhscrYient to the