Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1844-12-04

anti nIty l1OuSdnu uOlldEs. loOoo'OooyiJ eaS
tofdeIiversto the Comptroller General, to
be cancelled, the evidences of State debt
in lis possession, to the amount OF 4Oo
and Is thousand lwo hundred and seventy,
(s4I5,270.) Of the evidences of State
deb, held by the Bank, one hundred and
sixiy,. three thousand four hundred & sixty
eight dollars (S163,46S) fell due in lS45
and 6, 30 that The whole amount of debt,
the liquidation Of which was provided for
by the act of last session, was eight hum
dred and one thousand eight hundred and
two dollars, or about four hundred Thousand
per annum for two years. am happy
10 say, that the Bank surrendered TO the
ComplroIler General, in January last, and
that he cancelled four hundred and seven
teen thousand and eight dollars and lwen-
ty; nine gents of the public debt, being
something more than was required of IL;
and do not doub, that it will provide FOR
the punclual payment of the intalments
Of 1915 and s as they become DUE ~
! wilI nnt5repeat TO you. The reasons
which induced meitp make to your PredLefs !; !;
cessors the reconmehdati referred TO-.
They are stated at large in my last am
nu al Message. l,leel!bound, however, 10
isay, thai nothing has occurred since TO
change The opinions then. expressed As
far as regards lhe. Bank, the President of
that institution, in areport fmade 10 the
Legislature near the close of the, last ses-
sion, has painted in such strong colors its
power, and the evils ii, might cause. as
justly 10 increase the 7apprehensions Prevl-
.lel,uponi That subject. Objec,ins TO
the collection and payment OF three and a
half millions, ,wi;haa capital of more than
four millions, at regular intervals during
seven years, he says that, $50 largea cred
i,or going al once into the courts, would
alarm all other hanks and individual cred
itors, compel them in a :. measure 10 sus-
pend The usual accommodations, draw in
their circulation, contract their business,
aud also sue in every case where they are
distrus,ful of their debts. Their custom
ers, thus checked and pressed, would
in turn sue those Indebted TO Them, and
an universal stale Of alarm would per-
wade the country. The dockels Of the
The courts would be crowded with, cases.,
and. the Sherilfs would transfer vast
amounts Of property at incalculable sacri-.
fees; The value of all other properly
would be. greatly deprecated, and slaves
be run of, %, many Of them, bought up
by The people ofolher States. and would
bcIlransferred 10 improve their condition,
leaving heavy taxation 10 this Stale, and
less properly TO bear it. Lands abandoned
and houses deserted by ruined and bank,
rupted people, would everywhere remain
The monuments of an erroneous anGpreci-
pitate legislation" 49,
lfsuch disastrous consequences would
arise from a liquidation not complete, and
protracted through period Of seven years,
how much depends an The perfect manage,
menl of the Bank, and 10 wIur.-.--
,a,r lr,1rll winch it has no chartered immu-
nily, and which, involved as,it is in The
vortex Of trade, may overlake it suddenly
when the people least expect and are
worst prepared for catastrophe SO terrible.
Is it wise for us to slumber on such vol.
cana? lloes not a just regard for the
safely and welfare Of the community re-.
qure that efficient measures should be la
ken 10 remove from it, al he earliest pos.
sible period, an engine so destructive,
which fraud, accident, Or oversight, might
al any moment put in fatal operation ?, IL
is al least worthy your consideration, wbe-
ther we are to incur the risk Of it forever;
and if NOT, as its charter has but twelve
years 10 run, there is little time to be lost
since il cannon be closed up in seven with
out desolating the State.
The Bank of South Carolina, and The
State Bank, have accepted The, provisions
Of the act of lS40, and The suits against
them have beeu withdawn.
1t affords me great pleasure to inform
you that ibe militia of the State are com
petely organized and are. for militia, in
excelleu, training. There are few officers
Of any grade who are uot familiar with,
aud competent to instruct The men n the
different schools ofinfanlry tactics. aud
in camp duties. The artillery on The Coas'
is in fine condition, and The calvary through.
out the State numerous, we'll mounted, !,
and well drilled in the sword exercise. aud
the manoeuyres appropriate TO that arm
OF service. The whole number of the
militia amounts to near 6fty. five thousand
officers and men. s,.,.,. -,lr
There are now in The Stale arseuals, in
order for service, ten thousand FIVE hun
dred muskels, rifles, and carbnes, one
hundred anl two pieces Of artillery; thirty
thousands pounds Of powder; and twenty
five thousand pounds Of lead, besides a
large quantity ofhaIls and cartridges. The
other military stores and equipments are
in proportion. The number Of public
arms in The hands Of the militia cannot
easily be ascerlained, hui il is.npt short Of
five thousand muskels Il rifes,aud twenty:
five cannon mostly brass. The State may
therefore be regarded as prepared to arm,i
at any moment, nearly or quite one half
Of her whole militia force. and TO furnish
them with ammunition for perhaps cam
paign, without incurring any new expense
while the men she can bring into the field