The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1842-09-14
MISCELLANEOUS. s.



MrssRs. EDrToHs:-What a flourish of trum-
nets "pinckncv' made in the ''Caro2inidn,' tic
other day! lie certainly has overratcd the I@no-
rance of his siclloW-citlZcnS and brother pan
ters," if he supposes they viii swallow all that
is over his signature. lis pei, the Bank oil The
State, was in hot water during the existence OF
the Branch Bank Of the L. :. in Charleston, and
now that the latter is dciumct, If is "nut c the
not into the fire. because other banks have been
chartered to supply the place OF the latter; and
he coe on TO SAY that 'he banking capital OF the
STATE Las been increased 20 mlllions." THIS Is
not so. When the Commercial Bank was char
tered, many Of the Legislators feared tiat the
monster would put another of his claws into the
State. The Cieraw Bank was chartered in 1888
The bank capital paid in since does not amount
to one third of twenty millions! Plnckney tells
us. .thatthe charicring of these Banks was the
great error into which the States ran, and winch
gave rise to the wild speculatloG aid III" shaving
Oneratious that have ovcrrun the con''ry, ana
involved the people So largely IN debt II Tie
State has ccmMitcl "grcat crrorS,' FInckncy
should not Coad is victims. But you VIII OBJ
serve the Sta;o located Banks only at tn" heaG
of navigation simply with view to acconnno-
date the planters in the sale OF their produce--
For the last eight years. the planters nave al all
IL
near home Again. =. says-"soon after these
Ranks went into operation, they had the country
f,oJcd witht their promises 10 pay, and spirit OF
erocnlaiion v.S; prHd,:ced which tar exceeded
anv thing before known in this Sl;'c." as
that not the case all over the globe as Wei as
IN South Carolina! BW, sir, il the pia"icr haa
continued at his plough tic lawyer al It's "iii>c
tba doctor with his patients, aud the parSon With
his flock, we should have had much less oltl.s
flooding of promises 10 pay an and oTt ol BANKS:
Arain. p says, "nmensc profits were realized
in Rank dividends, and the sales OF Bank Stock,
and after all the means of speculation, shaving,
and skinninr, were exhausted, then came sus-
nons;on. prcssure and ruin, and the Banks stop
ned their accommoda'i ms" | ak, were there
no, as "jmmensc profits" realized IN every oih-
or sDccies OF business during the same pcr'od!
The word SHINING IS a iarorlfc with T. ana MS
mess. Is lending money az u per CT SkiiliiiilG
Aoain, SAYS p, ''tiey are unable or unWlilhT 10
continue their former accommodations. II II
wero wrong to do so in the first instance, would
It MOI be worse TO PERSIST mt! AS these bti'hS
have renented and turned from the ''crrOr OF their
ways," pnckncv, as an honest man, should be
their friend. The fact is, Tie Banks are tired OF
being skinned.
a'rhey have, SAYS p. the command Of so large
an amount Of band capital, that they control the
whole monetary concerns of the State" Could
il bo pIace,i IL better hands! Are not aH those
Banks we'll conducted! The banking capital is
iudiciouslv distributed over the State; every
where sound currency, and all her financial
matters going on smoothly. Why all this hue
and crv. inst before the elections! 1t is not an
artiiicc TO gain the public ear! ! suppose Pnck-
ncy to be one of those party politicians oi the
day, whose nose is about going under water, and
who is trivia, By dnt OF party excitement, to
continue his political existence. We hear
great deal, these days, sad about 'indcpcndcncc,'
tGreedom." " "ljhcrtv,' &c, and most generally
by men who evidently want nothing 80 much, as
the liberty to rule We often see, of late d
democratic tongue and a tyrants Eear; united in
the same person. Political honesty has almost
fled the country.
p. saws further: "And now let me ask, why
we're these institutions eyer chartered! Can
they carry on banking better, or safer, for the
interest of the people, than your State lns,Itu-
ton! Are their promises to pay, any better, or
as good as those flhe Bank of the State! Or
do they give better security 10 The country against
suspensions and ultimate loS>!' answer, sir,
in the affirmative: they do carry on banking bctier
adapted to the commercial and planting interest
of the country, by combining their principal dis
counts TO 0HStn"SS PaPti' anu hecP."S diooI from
politics. Their 'promises 10 pay' arc well Sc
cured by the private property of the Stockhold-
ers to three times the amount the stock they hold,
and transfer will not release them until the
expiration of six months during which time, both
buyer and seller are bound look upon this as
something more substantial in these days OF re-
pudiation, than either State or U. 5. ''promlses
to pay," and when the test is applied, it will be
found So refer you 10 Georgia, Alabama or
any other State where the thing has been tried.
Take list of the Stockholders Of our South
Carolina Banks, and you will find large portion
of hard hands aud honest hearts among them;
and they do no! usually put white g!oved gentry
in the pay nf their buSiness-those they employ,
find something else TO do than spin street yarns,
or discuss politics on the side walks.
Rut once more hear Mr.. p. "Fellow- citizens,