Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-11-08
9.OO6,OOO


Showing, ofG,reign goods reach
inBCharles'on, circuitously $4,000, 900.
We will assume, for the sake of si,npIi
lying the argument, that all these were
through New York. The New York i,n-
porter has profit Of not less than , per
cent, or S00O,0O0; and when to this is add
ed, freight, insurance, and other necessary
expenses III sending them to Charleston, il
Is not too much 10 say, the State has lost.
al least Sl,o30,OOO. on The years business;
which must be paid too in the products OF
your State which are equal to specie,
abroad or at home: or. what is the same
thing, It is lost in The price oiyour rice and
co''"n. Had these profits, year by year,
'hat they have heen drawn from You been
made by your own merchants, and kopt
al nome and enriched our cities they would
nor now exhibit either decay or Gilapida.
ton.
1t was said, in the Knoxville Rspor,. NJ
doubt truly, y,tha, "mersllandizc NAV he i'm :
ported into Charleston, from Europe. ON
more favorable terms, than into N. York. r"
III inns "PInon, oil the importing merchants
OF Charleston, with whom | have con-
late Years has prevented it, has been The
artihc'hl advantages given by the Govern
meht and bank COMMISSION, to their rivals.
It's :his reason, which they clearly per-
ceiVe, that causes the great unauinity of
our merchants and bankers, for the sepa-
ration, and i'll support Of the Independent
treasury, and its specie receipts. They
clearly sec that it will benefit Southern
Il
that it is Il war on banks, and credit, thov
know is un(ounded They we'll know ihe
amount ofs specie required for this demand.
and will be- prepared 10 meet il. Tho
pressure will be gentle, and kind, i'm com
parison To that harsh and incxorable run
produced by the United States bank. and
even the depositc Bank system-a pres.
sure 'nc. stimulated the purpose Of RI
val institutions, to lessen the business and
pr"hts oi1ur banks, and, by taking their
specie and capital. 10 increase their own.
Bul, say the alarmisis, if the Government
REFUSES the paper of the banks. the people
to" Will refuse 10 take it. A f.ct, il worth
more than theory. From July. 1896. by
law, the bills OF every bank which issued
OF circulated bank noto under So, were
refused by the Government. The bank
of this State has ALWAYS issued notes nm.
der 80. Were her bills diScreditedl
Mc people, rctuSc to ta:e them. because the
Gorernnent refused! So far from il. when
me suspension of specie payments took
place, tho bills Of that bank stood higher
'i'an any IN tho Slate. and were boarded
uI' Ike gold and silver" The same fact
existed as to the bank of the State of Ala
haina, with exactly, the same consequent
ccs. lhe credit of bank depends on its
stability and capital; and on It's faithfully
and honestly rcdcemng its engagements.
Let II pay IT'S bills in specie when demand
ed, ahd II Will never lose confidence. TO
Southern banks i, is any thing but hostile:
TO labor, and the lahorinS classes, every
where, It Is vast advantage. In the Nor,h
where The over grown capitalists own the
oanks' ana other niono;,olies. il breaks no
'hc'r schemes of living upon the labor Of
,nc people, and the profits of the public
treasury, by which the rich are made
rIcl'er, and The poor. poorer. The clam
ors ol their innumerable presses, resoupd
through the land against ii. But the peo-
PIE mere us here, are not deludcd by it.
lhey know II as Il measure of deliycrancc
to them.
Another objection urged against it, was.
',!"t IL VIII disturb The equilibrium of for
c'Sn trade. and dcpress the prices of our
staple productions, Cotton and Rice. In
February, 1887, a hill passed both Houses
OF Consress-in the Scuatc, by a vote of
Al to .; aud i'll the House of Representa-
tives. I:' TO 30, which prohibited the re-
ccpt, in payment of the public dues, Of
all the Bills. of every Bank. which after its
passage, issued " circulated bills under
S5-or after 1880, issued or circulated
bills under SiU--or after 1913. issued or
circulated bills under $50. The President.
Gen Jackson. did not approve il, and it
never became 4 law. 1t was "Whir"
measure, and had the whole "Jrhig" vote,
Tue declared intention. was, to drive, as
Tar as possible, small bills, from circulation.
ana 10 give general under currency Of
Gold and Silver. TO say nothing of it
as n measure of severity, aud war on the
banks, is it not manifest, that had j, sue
ceedcd IN It's avowcd object, and banishcd
all bank uotos under $40, from circulation,
our readers i'll town willremember that the
lnee'i"s ni citizens called on the Banks TO issue
more ,,m " OF me small Bills, "dscrcditcd" money!