The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1839-12-07


alton of The State, in relation to the
debts due by it, and the funds belonging
to it, to meet those debts. For his pur-
pose, / have caused statement to be
prepared, giving this information, and
herewith communicate it. From this do
cument, the following general result is OBJ
tanned:
Aggregate amount of
funds belonging 10
the State, s3,63o,s3o 81
Do. of debts,
due by the State, 3,o3o,243 81
Balance in favor of the
State S59l ,5s6 10
Bat it is proper to state, that in the
amount Of debts, due by the State, is in
closed the Dcpositc Of Sl.o5l,422 % CT
-:,a sur>'us rcvaGue IF the United States.
i. ...:;::.;,,l !. The above liabilities, the
ST.. j; 20 ..ls:5:e for the two millions
,! ,.,s... s-...;.. 70: the rebuilding Of
Cilar.cstIi., ali. or the guarantee oi tila
two millions loan, fjlr the Louisville, Ci!i-
cinnati, and Charleston Rail Road.
The Bank of the State Of South Caro-
Iina is in sound condition, and under the
prudent management Of an efficient d.
rcctov, and able and assidunus officers,
i n-r;ts your car@rt',| confidence. Tic
Hr5 - u has a. .':l,pn, the present year,
arc :..2o.0ao, yk,>h sam has been. car
ri~d to the Sinking Fund, new amounting
to =9lS .o51 80. ;a7on,ooo Of this amount
Will b. APPLIED, on the lst January i!cxt,
H. "a i, :. ..dcrs of the per Cent. Stock
of this STATE, created under an act of the
Legislature, passed in one thousand eight
hundred and twenty. and redeemable On
the above mentioned day. | herewith
submit the Annual Statement Of the Bank.
The true condition of the Banks of the
States. Is. at all times, subject of deep
interest to the people, but more especial
" at crisis like the one in which we arc
now placed. For the purp &c, therefore,
of exhibiting to the public their present
situation, applied to them for statements,
showing their respective liabilities and as
sets. With praisewolthy promptitudc,
each of them responded to the call, by
me with reports on the severa!
points OF enquiry, which ROW lay before
You for youl Information. The country
was just recovering from the shock which
the reyulsion of eighteen hundred and
thirty scrcn had produced, which another
crisis in our momcntary affairs, accompa-
MED by the suspension of specie payments
by some Of the Banks, has again thrown
the business and commerce Of the CON-
munity into confusion. Tho frequency
of these suspensions, demonstrates the ex-
istcnce of some inherent vices in the
Banking system, or mismanagement by
those WHO control its operations, and ad-
minister its affairs. Itbccomes your duty,
IS the guardians of the rights and inter-
ests of the people, to take care that the
Republic receive no deiiiment. You arc
urged by every consideration of sound
policy, and just regard to the welfare
of the country, to probe the evil to the
bottom, and, by the application Of the pro-
per remedies, to bring back these money
cd corporations, to & healthy performance
of their functions. Indeed, the Banks
are as much interested in the investigation
and reformation of these defects, as the
community; for, without an efficient re-
mcdy, the Banking system must terminate
in convulsion, which it is the interest of
all to avoid. If, however, the mischief
recoilcd upon the Banks alone, then it
would be a matter which would not con-
ccrn the public. But, unhapp!ly, the
whole community arc the victims OF the
evils which ensuc. The arrangement in
the currency, consequent on the refusal
of the Banks TO redeem their bills in spe-
Gle, affects the price of the great staples
of our country, which are the instruments
of all our commercial exchanges. The
value of property, Of every description,
the disturbance Of ti!c relations between