The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-04-14
"THE BANK QUESTION AND PUBLIC
OPINION,

OPlNlON.
The last number Of the Columbia South Carolinian
contains long article under this head, the whole Of
which we would gladly transfer to our columns, If
I'VE had room, but we have not We are constrained
however, to publish the following extract, that we
may do ourselves justice. The carohn'an says:
"Beside the recent acceptance of the
law, by the Union and the Planters and
Mechanics Banks, there are other indIca-
tions of the salutary effect of public oPin-
ion, in its progress on this great and vital
question. Among them, The Camden
Journal. after encouraging the Banks in
their opposition TO The law, expresses it.
self as follows, in its last number, iii re-
ference to the acceptance of the Union
Bank;
at is matter Of regret that all the
Banks did not, at once, yield to the re-
QUESTIONS Of The Legislature. 1t would
have put an end 10 discussion which is
likely 10 grow out of this question, and
which we fear is to do infinite mischief
before it is finally adjusted"
"Mischiel'? Mischief to whom, but the
Banks? Yes, it is absolute death TO them,
as we have told them from the first. We
have warned them that they cannot live
under it, and the editor Of the Journal
may know enough of them, and at length
Of public opinion, to be satisfied of this.
He and they may well "(ear" the conse-
quences of the "Giscussion which i; likely
to grow out of this question:" but the peo-
pie do not. and need not. Their vested
rights" ,"-and they, too, be it remember.
ed, have "vested rights" in Bank char
ters. as well rs the Banks themselves
will not suffer from "discussion;" and
there is no danger in the error, [even|
Bank error"
1t will be observed that the CarOlinian says, that
'thc Camden Journal, after encouraging the Banks
in their opposition to tho law" &c. If we have
ever written any thing in the Journal, or said anyl
thing elsewhere, which was calculated to 'encour-
age the Banks in their opposition to the law" wei
are not aware Of it The text quoted above, by the|
Caro.inian FROM the Journal is not second thought
but contains the opinion which VIC have entertancd1
over since the pass,gc of the Suspension Act. Howl
ing the Banks in their opposition to the law" may bel
'ccn from the following extract from the Camden!
Journal of the 24h February; an article written be-.
ore any of the Banks, either through their Directors
Or Stockholders, had made any public declaration asi
% the course they would adopt. 1t will be seen fromI
his extract, that we then held and expressed pre-
,iscly the same opinions upon the subject that wei
lid when VIC penned the article which the Carolinan
quotes .indcations Of tho salutary effect of pub
ic opinion"
But to tho extract. In the Journal of the 24th|
February, we say:
"Withou. expressing any opinion as to|
he right Of the Legislature TO requirethe|
Banks to accept the act as an amendment
10 their charters, we are free to say, tha,|
however corrupt the Banking system may
be considered by some, and whatever a
buses may have crept into its operations
u other States, We have seen nothing inI
is action in this State 10 require the inter
ference Of the Legislature. If it be ad
nitled, however, that any legislation a
all was necessary, WE BELIEVE THAT THE
Ac-. UNDER CONSIDERATION WAS THE VERY
BEST THAT COULD HAVE BEEN ADOPTED!
As WELL FOR THE BANKS AS FOR THE PEn
PIE. AND WE TRUST THAT ALL THEI
BANKS WILL AT ONCE ACCEPT ITS PRoyIs.I
oNs."
This article and the quoted by the Carolinian,
re the only ones we have over written, in which VIC
lave stated any thing but such facts, in relation to
he action of the Banks, we have found in our OK
hange papers. If there is any thing in these that
ooks like "cncouraging the Banks in their opposl.
ion 10 the law" then We are at fault. On the con-
rary, VIC believed, as as the law was passed,
hat it the true policy of the Banks to accept its
and we believe so STILL We have seen mol
Indications Of public opinion, to induce US to change
ur opinions upon this subject.
1t will be seen that The Carolinian uses the words
vested rights" and it may bo supposed, fiom the :
manner IN which they aro Marked that they formcdk
part of the article in the Journal, from which it
Iuotes. We beg, however, to disclaim them. We
10 not now remember ever having written them on
my occasion, until the present time. We do not
ike them. We always suspect some humbug when /
ve see thom quoted We do not believe thero is :
my such thing as "vcsted right" in Bank or any
,thcr Corporation any moro than in individuals,
o violate thcir obligations, and We are willing and i
lnxous that all proper and legal measures should be
Idopted to force them to their fufment.
We have, it is true, deprecated newspaper discus
ion of this question, because the people have al
eacy expressed their will through the Legislature,