Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-07-19
Iron the Georgetown Unioa.3
.Georgeioma acknowledgement Gni
Chcraw Rail Road.

.Georgeioma acknowledgement GnI
Chcraw Rail Road.
1CONCLUDEp FROM QUE LAST NUMBER.
The subject OF il Bank, with pledge
for the creation of Rail Road, was, last
wear, in consequence of similar institutions
in the WeSt*as well as in the East, ,brou.h,
before the mud of the writer The stu
pcndous haax OF The Charleston Banks,
together with the probable want Of a place
al deposit for the capital OF the L. S.
Bank. led to a communication with friend
In Charleston. of which the following are
E.i himl extracts.
Extracts Of letter addressed Ia q Gentle
man IN Charleston, dug. 9, 1895.
"i!owever, my las, will have anticipated
vParqueStion as to a new Bauk; and espe-
s,iaiiy, confirmed as you will have been by
the COMMUNICATIONS which | made TO vou
in June. = 81. Hence, thought
1t would he in the Charleston Bank, back
cd by the people, the iaeens multi'uGo /
mean, and with their united capital, to an
ucipate the application (for duplication
tf capiiaD to the Legislature, of those
who had nu'lifed every principle Of fnan-
rial honesty and commercial faith; and
ahuS 10 establish an institution of their
ewu. Therefore to your proposition, |
can only say "conteut," aud add that
- thinks with mc-that : y e, cum
ma!iis aiiis ..Iaaiores" well as "miaorss" in
this quarter. will, am fully convinced,
unite in subscription, y y
have thought much as 10 the modus
operunti, and cannot now for rear ad-
ding, that as Banks have Of late been let
tered in great numbers, fully believe it
would he well if new Bank was grated
in an old one-if, at least, such one
could be found. was also led tn think
that, il as IbeIieve was done in Connecti-
cuff in fact. tho not in form, the Rail
Road Company was given Banking Privi-
leges, Il very desirable end would be OBJ
-tained-the consideration Of the amended
charter to be. not Bonus to the Treas
ury, but condition rendered to- the Com
pany; that they should complete a portion
say one fifth two-ifths, aud furnish the
surveys OF certain Rail Roads.
4 % e
As to bridges, tn ensure their being con-
struried in the best manner, claim might
he made on the General Government for
their erection, on the condition, that for
ever after the Mails should be carried free
Ofexpense, save that OF the conductor who
had them in charge. The relief the COM
n,erce and correspondence OF the country
would thus receive, would bc as great as
i, viii be beneficial to the wealthy, bene-
iicent to the poorer order, and useful to
the literary classes ofthc community.
4 n
The charter, on the plan have sus.
gestedt would be extensive: but. its IN
fiuence and credit, 10 whatever amour.
the subscriptions might he carried, would
be correspondent. Indeed, they would
he such, as, provided the proprietors OF
the old U. s. Bank would unite with the
people generally, to command charter
the shares to be $40 each, and five pc.
cent TO he paid at the time of subscription
and phether i, be possible or not, to attach
Banking privileges to the Rail Road Com
sTo the investment ofthe Savannah and Ma
con R,il Road Company with Banking psivile
ees, Georgia will, in all probability be indebted
Tor the power of offering, BY means Of the Athen
and Augusta Road and Off junction with ts'
Savannah and Macon Road at distance OF 81
miles from Augus.a---by these means, she vii
be able to offer the shortest and cheapest South
-ern outlet to Western. products. She has tn
best pass through the Mountains.
tBill to incorporate the Quinhcbaus Banh +
be located in the city 0: Norwich with capita
Of S5G0,OoO, with q Perpetual charter. and tn
stock TO be exempt from taxation; in consilera
ton of which the Bank is to e1pend $3.50 900 il
construction Of Rail Road from Norwich t.
Boston.
.Sabject of course to modification as 70 rr:o
privileges OF individuals MORO nc%-,E concerned