Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1840-12-03

nave, Win proper earHestneSS duu hueh'y'
called your attention 10 them. Amidst
difficulties and embarrassments unexam.
pied in its histury, they have firmly met
the crisis of The past year, paid of SSOO,.
900 Of the debt of the State, and discharged
will, puncludily, every liability presented
against the Slate or the Institution. But
whether the other heavy debts of'he State
will be met with equal runc,uuliIy, and
The bank continue 10 discharge all the
other functions assigned to it by the public
in its future administration, must depend,
in no small degree, IN your abs'ainins from
tie use of its funds. OF its perfect ability
TO perform all that has been assigned it,
if not farther inteIlered with, there can he
no doubt. lis condition is souud-its hu
siuess Wholesome and profitable; but these
teraugelneuts Of its operations may prove
serious in,peGiments 10 its success, and
even in the end, if continued, reuderitun-
able 10 fulfil those engagements for which
the State has socmnIy plighIed her hon
or. Your attention is earnestly invoked to
This subject, in the confident expectation
that your wisdom will provide in time u
lemedy, aud protect, in al is vi'nr. an
institution that shares So largely in the con-
Gdruce and favor of The Stale.
With the view of giving you as much
Information as possible, in relation I" our
banking institutions. addressed Il circular
TO The respective officers, and have the
honor TO transmit their reports, as all az
companying docIment Of this message. |
believe harvard nothing, when say that
they exhibit ii comparatively sound coudl-
! tion, and thai The hanks ut nj State III The
Uniuu are entitled to higher confidence.
The " hole country has suffered from the
abuses of the bnuking system, and IL is not
10 be disguised, that in South Carolina
too, this tremnedous power has been di-
reCcd TO ends nnl legitimate. 1t Is no,
my purpose To wage war upon the bauks,
hu against their abuses. would not des.
troy, but regulate them. Incorporated as
they are, Iuo our po!ilica institutions, and
forming ii mu,t naIrria part Of them, !
! regard their anuihiIalion moi as Il blessing.
hui The certain presage of widespread rll-
IN. But banks, in the present pleniIu,le
of their power. should NOT be permitted to
do as they please. Their chartered privi-
lrses give them no right to vinlate sacred
nllgatlons, and pcrpclrale outrageous in
Justice. They have no independent cor
pnraie existence apart from those cUnd-
t,nns, implied as well as expressed, which
gave lIIcm heins. In the nature ofthings,
il bank can have no exclusive right To sport
with the demands Of common justice, and
II is a mnnsrous pcrversiOn to say, that
The Legislature ever intended to confer ibis
extraordinary privilege. would not vi
olale the sanclity of chartered rights, but
cannot sanction thai doctrine whi' h pa-
ces banks entirely beyond the reach Of The
Legislature. The recent suspension of
specie payments by most of the banks
Of our State, calls Tor some decisive ac.
ion. The legal remedy which tue bill
holder has, am"uuts to nothing. lu mod
ern times, the refusal 10 redeem a note,
Is Il common hank operation, aud he must
he endowed witt, more than ordi ;ary firnl-
uess, who will make the demand. as he is
| sure to encounter the Insulting, coniuma-
rious spirn OF chartered gentleman. !,
is your province to provide against these
disgracelul bank suspensions, and your
wistlum will suggest the measures best Il.
dapted 10 the cxi scnry.
herewith lrasint the report of he Ad-
jutani aud Inspector General, and can
not recommend too strongly 10 your atteD
lion, our military system. A very sliShI
reflection ouly is necessary 10 show, hat
this arm of our defence has never been tuo
highly appreciated. That people is un-
worthy Of liberty, who is uuwillig 9 to de
lend it. It is one Of your highest and most
sacred duties, to maintain an cflicieuI mi
Iitia organIzalinn, as in the rapid current
of cvrnis, no one can IeI how soun we
may be called upon to exert our whole
power in dclcnce Of our altars and fire.
sides. The system Of Brigade cncamp.
meu,s, which was instituted Il few wears
ago, will, the view Of improving our mill
tia. has worked well, aud it is lhr unaniu-
Gus testimony Of every general officer, anrI
Of vast ma iority Of the field aud compa-
ny officers, that sound policy demands its
continuance. II would be better, think,
10 relieve every man Of duty, than abolish
this ieature-t0 take our stand al once IL
gaiust the whole system, than indulge in
empty prctcnsionS, and ridiculous mucke-
ry. If we are to have militia, let it he
as efficient as possible. No surcr plan 10
effect this desirable result can he imagined,
than 10 create bod \ of skiIful and iuIell :
gent officers. who are ever ready TO lead
our whole militia force into the field, aud
who, in "A short time, can prepare it to
meeI successfully any enemy which might
be brough, against it. TO "avia,e a lead
ing ohjerlio 10 The system, the Board of
Commissioners, appointed to make Di.
gest of The Militia aud Patrol Laws. re-
commended thar moderate compensa-
ton should bc paid TO those who perform
the duties of The camp. The Board, upon
an accurate estimate, fixes the amount ne
cessary for The purpose. at sum not ex-
ceeding ten thousand dollars per annun,
and This sum might be further reduced, by