Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-10-25
Domestic News.
.Ertrac, from the Report oC The Board fDi-
rcctors to the Stockholders oC the !South-
IPestcrn II. Road C0mp0nY.

IYestcrn II. Road Company.
t'But we consider the establishment Of
the Bank, the bond which will serve to lolI
the Company together. aud afford ii certain
resource in any tiue of need. aud therefore
as indispensable to The successful prosecution
OF the great work. In this view of The sub
ject we would now bring to tho notice ofthc
Stockholders, some Of The leading p:oyiS-
ions Of our Bank charter, AMI briefly poin,
ont the grca, advantages which may be
derived from this institution, and the valu
able uses to which it may he applied. The
'South Western Rail Road Bank" has been
chartered by the States of North and South
Carolina and Tennessee, with arapilal no,
10 exceed S;l2 ,00O.OOO, aud for period OF
thlrty-one years. kentucky has not yet
concurrcd in this charter. but strong hopes
are entertained ,ha, Tic renewed application,
which is To be made TO her legislature, mt
the ensuing session, will not fail Of success.
We arc strengthened in the expectation, by
The favorable disposition manifested towards
our enterprise, at n recent meeting Of the
Directors, ut Lexington; by the small ma
jority, against the application, at the last
session, of only six votes: by the deep in
tercst which kentucky has in The success of
the Road, and especially in The establish
promote the trade and intercourse. now car
ried on by her citizens with the Southern
States, But whether these expectations
shall be realized or not, it cannot hc doubt
cd, that Il Bank, extending with It's branches
over three States, will furnish currency
which will'hc of incsliniHhc value To The
citizens Of those Sta;cs-a currency, whose
credit would be such; as Ia command aurX
tensivc circulation, not only within The
States granting The charter, bui in The
nciGhrorinS States, and tn some extent
throughout the Union. Furnishing the ready
means OF transferring funds, hy drafts aud
bills Of exchange the South and tic West
will he relieved from liat is now felt rs an,
oncrOus tax upon their intercourse. The
want OF Il common currency now subjects
the trader and the traveller, not merely To
much Inconvenience, hur To great expense
Gold and silver, though ind spcusabIc as
the basis Of Il sound circulating medium,
never can, to duy crfcn!, be made available
lor the general purposes Of commerce. No
traveller Or trader will attcmp, to eros, the
mountains with bags Of specie. " hiir he can
obtain drafts or bank bills, which will an :
swer his purposes equally well: In proof
oi this we will stale the fact, that on our re-
cent visit in the West, we were unable TO
paying Banks into Western paper, but at =,
premium of per cent, while Kentucky
Bank bills could not probably he rendered
available i'll Charleston, witlinu paving the
same premium. thus suh,cciing he holders
ot these bills respectively, to IL charge. in 5,
single transfer of funds between Lexington
and Charleston, equal to a whole wears in
tcrcst on the amount. Though this NAV
he regarded as an unusual and cXtraordin-
airy state OF things, we feel warranted in
condition of the currency and Of III. OK.
changes, subjects Tie trade between ,hc
South aud West to charges. whic., NAV he
safely estimated al six per cent. on The
whole amount employed in that trade, which
we all know amounts To many millions of
dollars annually. The Sout!, We.trrn
Rail Road Bank will supply an eli; crual
corrective To this evil. II will Tins nm, n,iv
elect vas, annual saving To the trader, and
farmers Of the South and ih. West. I'm, L,,
SO doing will rccomm end itself In .cnnr.L
favor and support; and if conAuc,,d on
safe, sound, and liberal principles, will ~
The same time ensure large profits 10 The
Scockll,lttCrS
ihc iailure to renew The charter Of tbc
Bank of the United States has L.,, ,Ln
Southern and Western States in tb, I;,mn,-
tahle condition above dcsciibeL, from uhirL
'Ncy can never b" rcic>c cd, hut Ly ,br ,s
tlblIshmcni of such as ours. The New.
\ ork Banks, AMI the Prnn,, lvun;, r,uh
ot the tuItcd States furnish to the Nn,i,o.,
ana Eastern States, IL currency sui,i,,ru,
Tor their purposes. But nothn- sI,,r, ri,
ba"k having charter from several >;,,,,.
can supply our wants. The rccbartcr or,.
Bank of the United States. must be olm;,.
ted, hy those who deem such n mcosur. L.-
sirahic, to be more than doubtful anil ;r;,
should take place, III some future dnv.wmlJ
come TOO late for our pnrpns, 5: will. !, i.
believed, that from the sSou:I Nc,,rr, p.,;,
Noah we may immediately r .al;.c ;:m ,l,n
advantages expected To he derived rrn,n :,
Bank of the United States, win ~, cD.n,
TALLY interfering with that institution :,",'",
IT hereafter he established The h;S,nr,' ",u .,
the United States affords no oar,II, / ,n ,nr
Bank Never before have tbrr. S,.,"
concurrcd in granInsa any Bank cl,,r. ~, .,,I
never has SD liberal Il charter been ,r.,n,,u ,nn
by any State, No bonus i, rcn,,;.n,
be paid to either Of The States .r,n,;n. ,,
Char'cr. lhe stock us well a; The ,iv;.
dehas thcrcoil are expressly c\rnpr, a FINN,
laXafIon ~ The State Of South Cnroiju, ,,I
substantially SO IN The State of NORTH C,.,
INA an'i tennessee. and The Bill; of ,h,
bank are made receivable ut State Tro,.
nries. While It's declared thai the unou,,
~ inc caPi'al shall not exceed t,rciyc mjUj,us |
IL IS ie't entirely at the discretion of lin, |
>, s,"chho'acrs to iix The amount viii, wI,;rI |
'"oy may commence business which :,,un,,,
''ey arc permitted To enlarge from lin. r.,
!! ,!li's as they may think proper. The n,,,
limitation IN the exercise of ,b;s ~ .