Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-11-15
POHlITICAL.
Ertrdct from the speech Of the Hon. f., H.
Eimore, at the Columbia dinner.

vi tuC SCuClIIcS ever invent
cd, to forge fcucrs for free people, i, is
tho most insdious; and of all the mean
hy which the South has been cheated, Oh.
pressed, and enslavcd, it has been the mos,
efficient. Its advocates and friends, with
few and honorable exceptions in pubic.
lite, are the supporters of Fari.Is, Internal
improvements. and all the Federal here
sizes which lead ID coisnIilnIion, or 20 10
arm the general Government with lcspOlic
powers. 1 beg your attention, while
trace some of its operations.
NO Bank can now be chartered, which
Will M" he party Bank. II is the Wing
measure, and is intended tn pnt them into
power, with all their la,,idnarian aud
dangerous principles; and will be so framed
IL they succeed. as To aid in keeping them
there. No bank can be made strong C.
nonSl TO do any good. that will not he
strong enough TO do infinite mischief. If
powerful enough 10 regulate tic currency.
and the State Banks. it will he powerful
enough 10 destroy them, at will. II will
TIC great institution, capable ofrcndcrug
the sovereign action of the States null for
iiit can destroy State Banks, i, is usccs,
say that 1t is sovereign power which
creates them. Over This institution vcu
Will have no power 1t will he irrcspon-
s'bc The history oflhc old Bank will he
long remembered. Its track was li,crDI,v
over broken State Banks, and was watcrcd
ny the widow and orphan Stockholders
who were ruined and tankrun, by its Sc
verify. The State Banks were crushed
to make room for il, and give ruploymcm
TO It's gigantic capital. The distress under
which the suffering country yroancd, while
tho United States Bank was condur,ino
the currencyto what i. called snund stale,
was too terrible To be again endured. Who
amongst us, would renew surl, scenes of
ruin and sorrow! But. above all. who
would violate The constitution, 10 iniiicl :Iis
scourSc again upon the country! We
nave sccn, that there is no express power
granted IN the constitution. 10 make a Bank
hay, that It was asked for, and refused.
10 authorize It's creation. lis advncalcs re-
SORT 10 construction and impIicaiion-a
'inde oi obtaining power, opposed hv the
old KcpubilcanS Of 50 and 'aS, and most
dangerous to bc admitted now. Ofall pcn-
pic, We, 0f the SOuiil-lhc wcakcst. and
"eStthcd always To be The weakest section
should he mos, in!lcNibIv opposed to con
slructivc powers. To them we owe he
SIDES The Bank. Tariffs of protection, and
!h'crnai improvements, with all their ru
nous Tram of corruption, cXtrnvnyancc,
ana oppression: and by them we are threat
cncd with Abnlili0nisn,, and its 1lnrrors.-
1herc Is no one power, from which This
implication is pretended 10 hc derived: To
Which it is no, vastly superior in imoor
tancc aud effects. There is uolhinr so
dangerous to the South, as admitting the
principle. The.same rule will touch our
slave property; and we may mourn our
folly too late. if we support il. In the
strlctcst adherence 10 the Constitution. is
our outy safe,v, in tiris Uninn! The RE-
nnhllcans of 1880, were wise men, and rs
then, let us insist on strict construction.
One effect of The old Bank. was To cen
traliZc trade in the North. Located there.
It was, with all its branches, North and
So"h. East and West, under the cntir.
control OF Directors, who were Northern
men. living and having their interests and |
friends, at the north. III conducting its uf |
la'rs, 1t was natural they would give a pre-
ference To Their own section; and most |
especially SO. whcn.'by il, ihev would en- |
nance their profits. by aid of,hc ;rpo
'tes' ana accommodations to Ih.'ir Incr-
chan's' foreign imports were brought there
ana the internal trade sought their markets. |
New YORK. especially. became the centre |
ot commerce; all sections Of the country
a.
course were turned to her, from all dircr-
lions. Every exchange operation had lis
profit, and The more complicated and m,I |
llp!icd Tic more profit to those who cnnId
monopollZc them. With branches every
where: and by means of HE rcycuuc ,ir.
poSitcS, aud lllc universal circltIatiou and !
credit given to her notes, hv the Govern.
'nent, Ihc Bank seized on the c>c,,anr,s
us her own, mon"roliz:ns The business. |
ana IT'S immense profits. In t!i, b,,S,,,rs, |
IL tolerated no rivals, aud woe to The ..tn,c
Bank which dared to claim lrnn the Lion
Il share of The spoil>. We have one re-.
!markahle instance, of,hr use made o,rhcs,.
!inmens' powers. in 1892 and uuotrit
illustrating the pow crlul influence of sec.
,ioh' IN the management of that institution.
hlr. E'ddir, III letter to the co,nr,i,,cc
"' investigation dated 9th April, IS3. IN
spch"inS OF The alarm in The country. -, |
me STAKE oi the foreign trade. from ,l:c cx-
ccss'"e nnport1l!o., of the wear hct,r. |
says:
"lhc pont where these iniportalions
occurred, end "hcrcthc revenue was n,v-
able, was at New York. The whole fnrC. |
OF the Institution was, therefore, direct, TO |
strengthen that place. and lie distant |
branches were directed 10 avoid i:,cou,nn.
ding IT, and tie Atlantic hran,hc, near To
II, ny drafts upon them. hut To paw their
balances to them with as little DELAY rs |
lie convenience of their respective local. |
Ties would permit. Tnis is lhe whole poll
cy OF the bank. for the last six mouths -
u Will be seen therefore that, witbou Il
ammunition, there is an actual increase of
business in New York. and n large in
crease of the domestic hill, OF the brnrrbrs.