Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1846-12-16
From a Corrtsp5Sdent.
COLUMBIA 10 Deer. 1S4(

COLUMBIA lU Deer. lS4U.
The venerable David Johnson, Govern.
or elect, was inausura,ed to-day at l2
O'Clock, in lhe presence Of both Houses,
and an immense concourse Of spectators
his address was short, hut very ,ropri-
ate, he commenced by speaking of The
pardoning po,eer, and ] think there will
he but little fear Of any abuse Of it during
/ his administration. The Governor was
maniles,ly affected. by The distinguished
compliment paid him in his election. Cen
~. Caldwell has been elected Chancel-
lor. I hos, J. We,hers, has been elected
Law Judge.
The proposition 10 consolidate the Off
ces of Commissioner in Equity and Ordi-
nary, by transferring the business, papers
aud powers ofthe Ordinary, to the Com
missioner, Mas the subject OF debate yes
terday in The Senate, The measure was
proposed and advocated by MIR. Rhell,
aud opposed by Mr.. Wilherspoou. and
your Senator Nj. Griffin. and at The close
Of the remarks Of the latter gentleman re-
}ected by large majority. To day in
the Senate, the Bill 10 amend the charter
of the Greenville snd Columbia Rail
Road was under discussion. The Bill
came from the committee on Internal In
movements, with clause that The State
should subscribe two fif:hs Of tho stocks
provided, it should be done out Of money
arising from The sale, at par, of the stock
Of the Stale, iu the South Carolina Rail
Road Company; upon This clause there
was an interesting debale. Messrs. Dar-
su and Griffin avowed themselves as op-
posed 10 the State becoming sfockholder
in any joint sock company as general
principle. but insisted, that if the policy
should be adopted Of transferring the
stock, now owned by the State, in the
present Rail Road, TO aid in other like en-
terprises, then all the new projects should
be admitted 10 participate equally in the
stock; aud after long debate The clause
was stricken out. Mr.. Perrin has intro
duced into the Senate Bill 10 define the
terms on which the Stale will aid in the
construction of Rail Roads; it proposes
that the State will subscribe 2 5ths of llie
stock in any company, where the Leglsla-
ture, after estimates of the cosI, and evil
dence Of the practicabilty Of the road,
shall approve Of the project; was refer
red to a special committee. No measure
Of this sor can be adopted, which pledges
the Slate TO subscribe out of any other
funds than her stock in the present Rail
Road, which slock was taken originally.
with her part Of The surplus reuenue re.
ceived from the general government. The
Bank receives some hard licks occasional
Iy from Mr.. Fielder, and there is all increas.
ing purpose 10 investigate much more
thoroughly the condition of this institution.
II will become one of The gravesl ques'
lions of the day. whether the charter Of
this Bank shall he renewed in 1856, when
i, expires. Mr.. Memminger has in,roduc'
ed resolutions. from The committee or
Ways and Means OF The House, TO reduce
the capital oflbe Bank, 10 the original
sum OF one million twelve hundred thou.
sand dollars, aud apply the other funds,
which the Bank has adopted as capital, 10
pay The public debt, this measure looks
obviously 10 the winding up of The Bank.
There were FIVE vacancies in The Board
Of Directors Of the Bank, andI believe
there are about forty candidates for them,
and the scramble for the seat of Director
here, has not al all, been calculated. 10 i'm.
part any additional confidence in The
Bank. The whole policy is wrong, and
The State ought TO separate itself from
Banking operations, as soon as she can
without injury 10 herself @.