Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1848-07-12
numbered will abolish all FUNDS under 'lle
nnntrnl nf llIeir GnuernInnnI.


the question of "A Voter" You have
msapprehendcd from beginning 10 end.
the whole scope ard purpose o! ii, aud
the ground on which il resls. Yun say it
is II "mode" That you will only give
your opinions as to "principles," and that
YOUR principle is "a thorough examina-
lion of the Bank" Now | submit, that
"mode" is measure. and that "a
thorough examination of the Bank" is a
measure and nothing more, and that the
English of the whole matter is, that you
prefer your measure 10 mine. We have
not been much in the habit of questioning
candidates in this District, and especially
about abstract principles. There are,
however, Il lew instances where we have
questioned them and punished them about
appropriations. which are measures. We
have questioned lh,m about divisions %!
the District, which are measures. We
have questioned them about notification
as "hc mode aud measure of resistance"
All our questions have been about mea'
sures or "modes" if yon prefer The term.
I have but Que objection to your measure
of grand committee, and that is that |
am perfectly certain it would all end III
smoke. If you could get your commit.
lee. the Bank would present clean and
satisfactory balance sheets. as il is always
prepared to do; aud as 10 trying the SOL
vency Of every debtor, il is wholly i'm
practicable in your way. There arc
numerous ipsolycncies not vel recorded in
the Clerks or ShcrilIs' Offices. IL they
were so recorded they would he already
public, and the presumption is known 10
The Bank and every body else interested.
There is no way to test any mans so!ven-
cy fully but to require him TO pay. And
there is no way To lest the soIvenry of The
Bank hut 10 require ii TO 'cind up. All
ulher tests will fail They will answer
no purpose bu: 10 iuil suspicion The test
which proposed was oil different rhar>
acer and for different purpose. Ii also
involves principle, and That principle
fundamental one. prefacrd my qucs-
tion with an extract from one of the arli
ces of Anli-Debt," because the princi.
pie involved, aud reasons for the question
were clearly stated. and in better .orm
Than was capable Of doinsi'. The peo-
pie have conferred upon their represents
lives, and through them upon the Direc-
tors of the Bank absolute and unrestricted
Power over the whole Of the Public
Funds invested and deposited in The Bank,
amounting usually 10 little shorI of 81, 200,
006; and ~ addition the Legislature has
authorized The Directors Of The Bank 10
incur debts to the amount Of double its
capital. for which The State is hound, and
in fact they have bound il 10 pay no dehls
of the Bank to whatever extent they may
be contracted. {See 5lh Sec. Charter.
1912, Bank Comp p d. Thus the
property Of cvery.cilizeu Of Souh CARR
lima is at the mercy Of the Bank. This is
tremendous power for The people TO con
fer upon any sci of men to use at their
discretion. Is ii possible for them to
throw TOO many guards around il? Can
hey hold their agents one and all to too
salgisl un accountability for the use Of j.?
form and to The fullest possible aatHffi e9feffi Z
Yet they have exacted scarcely anything.
A biennial investigating committee that
never fails to sing the praises Of the Bank
in The same cuckoo noles, or if it should
dare 10 utter a single discordant clirp is
sure to receive the lebuke of the Lesisla
lure. (See Bank Comp. PIP. l71-l9l.)
Annual Report which no one reads.-a
Private Report which never reaches the
people-ia,eIy Monthly Exhibit which
no one eau publicly comment on without
being denounced as sort of incendiary.
These are all the checks the people have
on those controlling absolutely so vast an
amount Of their properly, and with power
to incur debt to any extent. Now The
funds Of The Bank are loaned out. When
an ordinary citizen goes there to borrow
money, he goes as he would to any other
Bank and is accommodated only in pro
portion 10 his ability to pay. But as the
Officers and Directors have all the funds
in their power. and the Member, of the
Legislature have the Officers and Direc.
tors in their po,rer, these two classes nav
accommodate themselves bsyond their
ability TO pay. ASD HERE LIES THE
GREATEST DASGER-in the mutual and
retiprocdte obligations to each other, aud
the consequences which grow out Of il.
Ii is idle 10 say. that if they arc hpncsl
men they will not help themselves to an
undue share Of The penple's money. IrI
we repnsr solely upon the honesty nf men
we are gone. If our rights, our proper.
y and our institutions rest upon no
stronger guarantee than the virtues of our
Rulers they are not worth The ink am
now using. Man is frail, AMI power al
ways dangerous. A wise people will!
always keep biz in the mouth of cvery
me they place above them, and I,nld The
Gins in their o,on hands. BY what means
AN tie penple know whether those to
whom they have intrusred four millions of
lol'ars and all the influence IL gives, NAV
lot corruDt!y abuse the enormous and
emprins power they have. unless il is
learIy ascerIaned at least annually. if
lol olIener, how much uf The money each
me appropriaIes 10 his o1cn use. What.
vcr other secrets may be necessary to
5anking, this is one which is vital to The
'eople to unlock. The Information Inns
erived may NOT satisfy Us ira, the Bank