Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-08-30


10 have been considered conclusive, though
III was not. Aud il may bc said with some
PlnnsihIiity, that although the general pow-
er To grant chartcrs OF Incorporation was
refuse! as an independent powe-, the mower
was gwen to charter bank, rs an implied
power and rs ;:axiIiary 10 granted powers.
| Some 81! t!.c best and 'wi;csi men, indeed
alulost all The Distinguished men, us is well
known, from Gen Washington tuwn, have
i'nt SEINE period been in favor uf n National
| Bank Some at one time regarding ~
hank. as unconstitutional. Il; nnn,her they
have seen il urihins but constitutional en-
Pcdiency. So nIr.,.l fnr opinions. dun'r
hold that IL man should never change. his
opinions. il is wisdom To do 80 whcn sal
I>hed oi error. h is said fools only never
change.
have said Oh some occasions and il i
l-pcri'hps due To canduur to rcpcnt that il
'h" present arrangement and u,iSnIud s,n,r
oi the currency continues states cn:n.,
! on chartcrns more B;nlS. rs applications
are made, and rrnrwin tho charters of old
baEkS rs their charters expire, Instead of
aooPtihG som" courSr ofpn'icE to arrest ,!u
cv.! i'r"n"!i, upon the country hy rh;. -rr;,,
increase OF Banks and Il redundant, h!oaird
currency, II would he found necessary fnr
hands ia matter upon which they were
called to consider al tie extra Session in
Scr'cnihcr lnSi) and ~ in 1916. establish; :;
bank; (unie>s so:ucsothcr mean, co,I,; l..
HcFls'h} SUE II Il one, in one important uar-
ticuiar III least, as ..ir. Callmru ::,yu;.utcu
IN loJs; "a bank To unbanli the bHnns Ia
the rNtc:ii that may he necessary to re- store
IL sal: anl stable currcucv.'. That every
one msincnrcd by the feelings of a pa,rio;
IiuSl desire to see the currency placed ON =
sale hn'i permanent fouilha,,nn cannot hr
I"csii"n,G; however they u:;i, ,!ic, rs 10
tic means at accomplishing IN Officer so
drsiruh:c Aud il experience should PROV,
The Necessity OF a@ain establishing such an
Institution. let II he !; E,iHk cT tie Si,:fcx
each taking slucks in prurUuiuu To 1l,,.i;.
representation III Congress. and the uror,s
=" IN lhcir own respective Treasures. And
To settle the constitutional question L., il he
i'ni'i'dcd and the power ron;crrc. in c>-
press terms. win such restrictions as To
guard II H1;.ln>, aln>c
In 'hc present bad cn,.!i,ion of Ike Cur
rcncI. with 80 many banks, >oni" Of which
HnNi harr 'nt in'ic specie in their vault,
c"inraic'i with their circulation. the c,,,,,-
ish'ncnt oi Il National Bark. with :: cam,
tai suiii; lent To ;,!vc it the REQUISITE. ,o,,cr
au" i"jiHcHce to rc:,:.!alc rXcIiGusc~ ;.i,,! re-
store Il good currency y. would Tor :; Time
have disastrous effect Many of the cx-
| islInS hank> would he crushed
thusc dong large business on Il small >Dr-
''e hiSi'' hiS wnuii! pro!uce ,.rcuI .,.n-
rral INJURY. The system. (nvcr. b;!n,ii,ui
ought 10 be hroml IN dow II :.radu:.i!.. sons tn
produce the least possible IN urv: /: tins. i,
GOES seem To i:.c. il Is perfectly in the lowcr
! OF III" States To accor,,.i:>h.
| hen General J,c., san commenced his
WAT a,"n INC currency, his "cNprri,.rcni:"
every body knows the currency was soun,t
ana me counlryrro~l.ro"s. But this state
E1St tdfthsy leN ~, are e,nici "; i;
s!:'- ias'crs land;hcv ror rs III, my lis some
':"sl:e) AID nconcr'ihic PAPER. E,>yh:.unc
i.,Sn, ranging irom ! Ia 6 per c,r,. For.
nrrly our merchants could ,t,uin EXCHANGE
i"t thr h":i ct one per cent. When tlry
=" 10 Tie N"ith lnr goods nov. tl:ry Ha,r
To pa\ per ccn', . more iI,.n ;l,cv for
mrfi! i'ari. This per rrn is I,ui on the
rIIcc oi their goods, and roirr> out of ih..
consumer. - n,nch for Gen. JackSnu'.
| '''%Ec!ii"nis ard his premise 10 rivc The
| couutry metallic cu.roncS. That .u,d, II
| age has moi Vet CONC.
A. I" the ri"il' /" Eanh, iii; Il rgI.r which
'rs'dcs III the sovereign pcoplc-ih, STATE.
Ani upon tins hn"Mn principle. arplica-
lions arc made 10 the S,ntr lc, !s;,l:,rr. for
charters In tins State. we require ~ rcr
cent upon the amount OF cHpial bank, Il
! m'"n, as Il ho"ns for every rhar,.r craur,d.
l pnn capital Of Il million OF dollars the
h""ns would hcwcnty- five thousand The
iant II well conducted, would make annu
ally hundred thousand ,iDIi.;r>. wiici,
would amount III II years. Che usual time
tor witch charters are "rauicnn IL Two nil
hons one hGmGrch 'hr;I% nj t!,.lla.s VI hv
>''"iid a S'n'r l:iu, dispose of her r:.ln To-
i:"'!,. ;'il'! sell. or "ranI Tic privilege ior.l
years. OF ninhin. 81, iGu.G0U Tor So, ,OIO.
" hN mol du ,h;" business herself. through
her "wn President and Dire c'Drs and make.
ihi, S2.l0U.0O0 ''r her ci,i.:cn>--hc: Tax.
payers. caEr0: conceive any -ut,,,i.n,
Tchson why each Stale in the G:linn slIn,.Ll
not furnish IN" entire paper mchiui, 10 lis
citizens, a"a adopt the policy of crcar:i.
no more BHnkS. refusing 10 renew the ci;u:
trrs of existing hanhs as they expire. and
each increase the capital %! lis own bank ns
these expire, sufficient for al lie purposes
oi Trade am'l Commerce. II We in South
Carolina would adopt this policy, thc whole
amount of the cXi>'ing BANKING caui,al in
ihe State Gi SO much silouIl be lcr;ssnr>l
might be merged i'll tnc Bank Of the s;t..t,.
hy The end Of the year lS:!';. when he las,
Bank chartered will expire Erauchcs
niShi he established n; all ;,accs i'm the
! State of sufficient trade To require Them
Each State by n'loptin. such policy ni::hr
let down ihr prcSrn, hioacd u,l<n,iui SvS-
ten with which the country is cursed and
csnblish system which wnwh furnish y
currency of iirli, purablr character and pcr-