Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1848-06-28
FOR the I1dccTtlSET.
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June Goth, 1S4S.

For The AdrcrtiSer.
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Mr.. Editof-In your paper Of last week
appeared another article signed "Vox
Populi." One who writes FOR the Press.
and offers to instruct The people. should be
fully and correctly informed upon his snb
ject, otherwise he misleads them. "lf the
blind lead The blind. both shall fall in the
ditch" Now "Vox Popui" says "abou'
the year 1924 the Legislature appointed a
Committee of Inspection, 10 examine mi
nuieIy the affair, and situation Of the Bank,
and repon to the Legislature the result
thereof. This regulation indie les an
honest disposition TO keep the State fully
advised of the management, and situation
of The Bank and if its spirit and policy
had been carried into practical operation,
the present jealous opposition to our Bank
would never have been superinduced. &c.
In this sta,emen, "Vox Populi'' is entirely
correct. as to tho provisions Of 1924.
That The people may read it. ] quote
verbatim from the acl Of the Legislature,
beginning with the second section and
going through the whole acI. The &C, is
entitled =" An Act'o amend Inc Charter
the Bank of the State Of South Carolina"
Section 2l.-"And he it further enacted
by lhe authority aforesaid; That it shall
be the duty of the several committees.
with the Comptroller General. to examine
minu,oly into the affairs and situation Of
the principal Bank and lis branches, for
which they are respectively appointed, and
to report 10 the Legislature. al their next
Session. the result thereof, and particularly
all mismanagemcnt in the affairs of the
said Bank or its branches if.any such have
occurred" )" I.
). Section 3d." And BE- iaftlef enact
i1,, Il = 1.ss.
case the Comptroller Geqeral Should: not
attend al any Of the inyestisa atoms author
lied by this dct,the said%Commiltee or q
majority Of each, shall be-. and they are
hereby authorized to make such invesi,
CATION in tho absence OF the Comptroller
General .nr-sf.-s 500. - 49,
Section 4h.-"And be it further enact
ed by the authority aforesaid, that all
clauses. or paris Of clauses in any act Of
the General Assembly of this SIale, achich
may prohibit the said Committee and the
Comptroller General .from Investigating
(ulty The books. accounts, and other docu
ments of the said Bank o, It's branches, be
and The same are hereby repealed"
This is The wise provision referred TO
by "Vnx Populi." But that wrirer,
| appears to labor under tho Jclusion That
said Act Of 1921. was either repealed.
or was so mutiiale.i BY provisions, as
10 have LOST its virtue. II is entirely Il
misapprehcuson. That Act is now in
full force unshorn of a particle OF its
bean'y-and gives iull po,cer to Commit
tees 10 examine all the books and every
account aud document nf the BanR-
whether of officers, private Individuals or
any person. Here is The language "Vnx
Populi' as follows: "Fnr lear the Com.
niltee Of Inspection appointed in 1921
(l suppose he means not o;ily that parlicu.
lar Committee appoinIrrl in that year hut
all Committees appointed under authority
of the :icl Of 1921 ";nlgh', reveal sonc
fact calculated 10 displease Tho people, aud
wound tho feelings aud Interests Of some
of the German Bunk OFFERS, The Lngisla-
lurc as early as 1927, added a very male
rial provso, to The duties Of the examining
Committee which is as follows, "prouaded
nevertheless, that there shall be no erami'ta
tim or scrutiny Of indi7dual accounts" "
Here "Vox Popull" stops bsIore HE sen
tence is concluded; he suppressed q part
of it-Ihat other lille line left out, p!o
vided expressly for the examination of
accounts OF those "Gorman Bank Officers"
as he writes it. Ard before quoting IL in
full, let me remark-thal the Act of 1897,
was not passed as an amendment 10 The
Charter of the Bank of the State as such,
but was An Act 10 admit and mcOrpora te
private Stockholders in The Bank of thr
State of South Carolina" | qsnle The
Title of the Acl. |; was an Act u i,l,luce
private capitalists 10 take Stock in the
Bank oil The State. And while The LegiS-
iature claimed The power of examining al
all times into the general condition Of tive
new Bank by said Act, 10 be established,
it exempted as all inducemenl to private
capitalists, The examination OF individual
accounts" but expressly reSerped the RI ght
to examine the accounts of TIE Officers Of
the Bank. | will give you the Whole Sec
tion of The Act of 1927, containing the
proviso-See Section 0, in these words
"And he il,fuher enacted, Tha! the Le-
gisalure shall have tho power Of examin
ing at any ard alllines, intn The concerns
OF tho Bank hereby established; And it
3 shall be the duty Of the Officers of the
Bank to facilitate such examination. Pro.
vided nevertheless, there shall be no
examination or scrutiny of individual
faccouuls, sdring aid ercepiing The ac-
counts Of The: Officers cfthe same" Th-
words itaticised were left out by "Vor
Popufi.." It expressly subjects Tho ac-
counts OF Officers 10 examination, The