Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1839-12-05

lion, | applied to them for statements,
shelving their respective Liabilities and as
sets. With praisewurthy promp'itudc,
each of them responded to the call, by
furnishing me with reports on tile several
points of enquiry, which now lay before
you for your ini;irnalou.
The country was JUS, recovering from
The shock which the cunvul,inn of 1887
had produced. when another crisis in uuf
n, .netary affairs, accompanied by the sus-
pension OF specie payments bv sonic of ihe
Banks. has agaia thrown the business and
com nerce of The community into confusion
The frequency OF these suspensions. dc
lnnnstrates the existence of snme adheren
vices in the Banking system, o. misman-
agement by those who contrnl its opera
fions, and administer lis affairs. 1T be-
comes your duty. as The guardians Of the
rights and interests Of the people, 10 take
care that The Republic receive no detri
ment. You are urged by every consider.
alton Of sound policy, and The just regard
to the welfare oilhr country, TO probe the
evil 10 the bottom, auj, by The application
Of the proper remedies, TO bring back these
moncyed corporaIions,t to healthy perform
ance oftheir functions. Indeed.the Banks
are as much interested in the investiga-
ton and reformation Of these defects. as the
community; for, without an efficient reme-
dy, the Banking system must terminate in
convulsion, which il is the interest of all to
avoid. If, however, the mischief recoied
upon the banks alone. then it would be
a matter which would uol concern the
public. But, unhappiIy, the whole COM
munity are The victims Of the evils which
ensue. The derangement in the currency,
consequent on the refusal fthe Banks 10
redeem their bills in specie, affects thr
price of the great staples Of our country.
wkIch arc the instruments of all our cOnl-
commercial exchanges. The value OF
properly Of every description, the disturb
ance Of The relations hetweeu creditor and
deotor, and i'll fact, the whole business of
sncicty, in all its ralnilicalious, experience
the disastrous effects of this depreciation
10 the currency This IS mol An exa5gera-
led picture of the evil. The Suspension
10y the Banks. is departure from the pnr-
poses for which their charters were grant
ed. aud plain violation Of those duties,
which arc cnoined upon them, in the
terms Of their creation. The previous his
'ory of the cuunrrv, in relation to char,
tered companies, eniorces the necessity OF
placing new safe guards to prevent Ihe
evils which have been felt. All charters
which confer exclusive privileges on GER
tain persons. intreuch upon the equal RIG hts
Of The rest of the comnunilt. 1t is GER
lain, they require to he restrained by legal
enactmcnIs; and yet the charters, by which
artificial persons arc created, are held up
as containing all the regulations concern
ins them, within The competency OF The
Legislature. 1t might be wise aud pnlitic,
To prevent future evil, for the Legislature
10 pass general law upon The subject of
all clariers. subsequently, To be grained.
rcscrving the ri gh 10 make such farther
provisions, as may he required to keep
them within the limits Of their appropriate
,iu;ies, aud cnnpell them to fuIiil the objects
OF their creation.
In giving you "informa,ion Of the con-
,ltion of the State" should feel that
was justly obnoxious to the charge OF neg
Iecting Que Of the most important brauche,
Of industry. were 10 be 81 entDn the sub
jecl Of Agriculture. This pursuit of the
great mass of The people, has Claims upon
your fostering caro- and attention.. II Is
the source of our wealth, and power, ant
furnishes the lneaus Of 'ur commercial cx.
changes. Yrti,simportance seems never
10 have been realized hv The consiIul"'
authorities of the State: for it is amcn'
,bIe truth, thai while other branches Of =
luslry have received an impulse. by whole
soa.e laws, the great interest of Asrlcn'
lure have been pissed By almost with si
Icnt contempt. IL is now time for lhc
Slate to dismiss from her c"uusrls tin.
coll indifference, and to take such &c, %
III the subject AS will prom"" IFS Success
j., exploring the causes which have rrtar'l
ii the progress Of the Slate in population
wealth aud import nee, none is more pro-
mInrn lhan the utter neg lect of This pri
mary plrsnir. Ii cannni br doubted, thu
South Carolina once possessed Il soil ~
unsurpassed fertility. But This rich eff
If kind Providence, has been. i'll Il great
measure. lost, by most pernci"us conrs'
If Inlsbandry. a large portion of this
nnce Furnishing region, blessed TOO, With
propitious climate. has been reduced IL
SlrrilItv. Yet, all hope Of reclainiug and
restoring 10 its wunied prodnctvrncss, oul
exhausted soil, is n'' in vain. 1t is be-
ncliccut provision of a good Providence
that beneath the surface OF the earth, are
ru he found substances of the mos, ferlili-
zlns qualities. Their discovery, however
requires the application of science. and
mcarls seldam possesses! 10y individuals.-
II j., in such case, that a wise and patri.
utic Legislature should extend its aid
but TO subserve fully the interests o.: hSri.
culture, the Legislature should MOI cnninc
its operations to Geological Survey ii.
lone. With this should he connected an
Agricultural Survey. While the former
4 l., al 4 l..