The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1842-09-28

sus:aiuiEgi., and the public creditors by abolish
inr il. Il is clear ,hn", from the pledges of the
State, that it has no rieAL use tie cnpHal ofiie
! Bank in payment of is stocks, (and le!ore due,)
iii the "irnt:ie" arc no longer sufficient TO pay
tncm as thcv become due. In the language oi
the last Committee cf Investigations, ".hese
funds are solemnly pledged and morigaged 10
the holders of, tie State Stocks, without whose
assent no diversion Of them can he made, or their
security impaircd. The Stale is hut trustee,
until it's debt is paid; it holds only the equity of
redemption, in the Bank
A word more in reference to the violent anal
reckless cllarges OF mSinana@emeA', guilt, cor
rup;or, bribery, robbery, insecurity Ga l.: drn'S,
&C, Drains. This institution. aid all connected
with it. Pend the following extracts IRON the
nenors 10 ,hn lie :isiaurr, at It's las SESSION, {"
SIC sa"nral Committees appointed 10 i'IVrSiGa'c
.l;n najk agI is &,arc'laS, and remember that
= ~ arc made by nrn nf tie highest respccta-
bltr, 0"'n:: TUdar nnh:
F'rog, H.. H~nan on Tie Parent Bnnh;
"n1scor3~s- i:c Committee required the
production o: every nee, :cok down Inc alnount,
and then cou,p2red the result with the Books
OF The Bank, and found them 20 correspond. a
mon. so mary noles, It could not be expected
iha: al were above Suspicion. But as dis
count fsi, YOUR Committee, after all the scrutI-
nv whic!, ,Leir own knowledge of the parties,
AID such information as they could obtain from
men cnraccd in the actual business of the COM
munlty enabled them to bcstoW, have come TO the
conclusion, that the customers; OF the Bank gen.
cra!ly, are men who deserve the credit they re-
cevc, and that their business renders them desi-
rablc customers; that the Directors have been
judicious in their discounts, and the State has
10 c0uSe Of uneasiness OH this head. That some
exceptions exist is true, but not more than are
incident 10 lie dealings OF all Banks of Discount.
These deh's are well distributed thous hont the
Stale"-Pa go.
"rhe ccnera result is, that the Bank o! the
STATE is in sale and furnishing condition, and
capable vi continuing IFS business on sac and
permanent basis, and preserving sound ana
healthy crcmla;ion: That its debts, under an
efficient and able direction, will be realized with
as little loss as is incident to transactions $" en-
tenSive and variou.: That tic Bank has sIs-
tanned the best interests OF the State, in her "Ans;
and in every stage Of lis existence, It's officers
have ex!b ed the most umbicmshed integrity,
and iirve committed as few errors, as IRON inc
difficulties and uncertainties of husidess, could
have been cxpcc' cd: That lis creditors are Sc
cured beyond tic most distant doubt, and It's
ability 10 redeem lis circulation n specie, ceria'n:
That iiia capital is also secured, ana lis iu'nrc
acton promises purciual discharge OF all the
dcais OF The Safe, principal and inlercs', at inc
day'+pagel7.
"Your Committee, in conclusion, would re-
mark on the sound policy which has led the State
periodically 10 rc-elcct the presiding ctIiccr o.
the Bank, when found faithful and capable. Ii
gives stability to the institution, and, with tile
strict and searching scrutiny eiyour inyesf'ga-
tons, ensures system and fidelity. 1t is dae 10
tho presrnt incumbent 10 say. lha! he has dcvo-
ted himself l" t!,o interests o the Bank with un-
turing zeal, and Daing in The meridian OF his life,
will every year add TO the stock his experience,
and consequent usefulness. Most oi ;he officers
q! the b ak have bcca OF lorg standing, a1d
their inc Lrity is beyond suspicion. All afforded
your Commute, 4 ready and willing obedience
10 heir calls !nr Information; mlniestng prop
c. srlisn o. their du V TO the Sta:c, to give the
most ample accoun; OF their stewardship
Page Is.
Fron, Ike Rc7nrt on he COlHmbia Branch.
"iua cur;.a cooperation oi the officers OF the
Bank, with the Committee, III their invcs'iga-
tons, and Tie prompt and agreeable manner IN
which they furnished all the information called
lnr w,,hn thcr power, contributed very much
to ll,hca The labors OF tie CuInmi'lcc, and to
!aciil!itc proper UNDERSTANDING vi lhe'l ""'C@'
Pages.
"Tnur Committee will now turn their attcn-
ton to the doh due the Bunk, including Noes
discounted, Boads and Drafts. T..esc items
!orm tie most i'm or,aHt branches of inquiry
which il becomes their du'y TO investigate, al"
necessarily required tho greatest share o. thc.r
ahurs and dl.:ence. Upon The souIdness %
these denis depends the security and nSr'u:&eSs
OF the Bank. Yoar Committee have aTAier
themselves OF all The Inea'iS within their rears,
10 oDlain sa;;siac ory innnat'oa as 10 l"e re"i
cund!:inu OF these de3ls, a;d tie result oi his
e%a:uiIi. on is, ih.i Ike C"mni:ice Lave no rea-
son 20 i,oi"ve ;.li any d them arc not vel Sc
cured '-PG!@ 4.
Fran he iiraort on Ike Cca1en P"nnrh.
, "r.Io 3 .ao* a =! N..c. ol i!aad du2 ;ic Eank.
l'r ~ i..2 acs, y! on..a IN The E"mmiucc cou!d
o.,.a.:i, al or 4 carc.u e%am:Hai!or, arc Wcii SC
cure W.;:i he cArci,..0n Oi small Noe oi
n,;:H -! .rre or OR .a.ircd ,o!ars, which ai'-
! :,r;ei du,.i,.fu! On Inc whole, the Committee
w..s oro.n.nn ,ilal Tie Bunk is in sound and
Irai.hv cu,d!ioa, and that it las been ably and
!,..:!. ally conducted. it is proper TO add, tia,
cre,y iac,Il'y was cordially offered, that could
ai!.o ;:.:c5:;E E1s0'i. Page l.:
There, People OF South Carolina, there IS the
testimony of your OWN public servants, VINO nave
carc,uiy examined the Bank-men oi hIgh CHAR
ac;er, acing under oath. VIII you believe
them, or Mr. Johnson! and can you believe Tor
, moment, tha, they have trampied under 'oot al
4 Tic obligations OF du!y, OF conscience, ana o
l,vl Nnnr ruhlir officers should be held 10 til(