Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1848-06-28

COMMUNICATIONS.
For the IdperiiSer.
TO THE PEOPLE OF EDGEFlELD
DlSTR1Ep

DISTRICT.
The discussion hat has arisen, in refer
cuce 10 The Bank Of The State Of South
Carolina, puts in question the policy and
cxpediency Of such an Institution. This
is manilestly the real issue presented. The
propriely Of requiring and publishing an
annual report Of the debts due The Bank
by its Officers and Directors, and by the
members of both branches Of the Leeisla-
1ure, has proved to be question, but in
tro,luc,ory 10 the other and more important
inquiry. | frankly avnw myself as op>
posed 10 the policy oil the States having
q Bank Of her own. Every such league
or connection, believe to be frausht with
mischief. Why is it, lha. we Justify The
imposition Of taxes by the State aud arc
content 10 pay them! 1t is, that the
Government may be upheld, the law of
the land enforced, and each citizen be
thereby protected in the enjoyment of his
rights of person and property. The mo-
tuenl we make any other disposition OF The
PROCEEDS o! these taxes, than their direct
and immediate application 10 the support
o The Government and the maintenance
OF Tie law, that moment, as conceive,
VIC begiu 10 read upon dangerous ground.
Ii IS al a! times unsafe 10 create Slate
interest of any Observation-Disclosures in The
torn of Bank or, III any other SuIse,-
dsliuc! frow Tho Interest Of the citizens Of
the State. l. is still more Objectionable
when such all inlcres! comes into compei-
ticu with the people as individuals, IN the
ordinary business aud common pursuits Of
life.
In no aspect. apprehend, can the real
Interests Of the people be proln"led by such
an Institution. If It prove lpsIpS busl.
ncss pccuniarily, then il is an unm'Iiga;ed
evil. But if it were demonSlraJ!e, :hat
,i1runei, its agency enormous profits would
be made. aud fund accumulated sufficient
10 relieve the people from Stale taxes alIo-
eclher, even men, | mant IN, !! would
prove most mischievous. IL would wea-
ken--in effect remove, the drec, dcpcud-
euce oc the State GoverGmeni upon the
people, resulting from their in!;'ca'at'ly
contributing tho supplies necessary To- It's
support. II would lul tn. people into an
apathy and indifference lopubl!c measures
more profound. than that al present. pre-
vailus among theln-an apathy from
which they are now only family aud tram
silently aroused by the annual visits oi the
tax eatherer. In all its consequences I'M
mediate as well as remote, it would prove
lAe prolific source Of evils innumerable.
No mere pecuniary advantage can CONS
pensale for the i'll consequences invariably
flowing from the violation of souud po.
lilicai principle. !.
Bu, perhaps the most formidable of all
the objections TO State Bank remains
vet to be urged From the very nature
of the operations of Bank-lhe manage
meot of the fund entrusted 10 il as lis capt
tai, cauno, be properly understood aud
appreciated by The people at large. SEX
ceplin cases Of she grossest lnIsmanage'
men,, even an annual publication oEs,le
names aud lia6iIilies of all ils debtots,
woald rscarce gsuHiec-to-ei i've Ihe= re q iii,'tI
iitrtt7or t77iUn--Dut orT.TuriUn.- il sach measure
would avail, It's ppIicy might well De cues
toned. The friends Of The present Baus
of the State with one yoice, protest aud
with reason against such publication as
utterly destructive TO The successful opera
ton oil the Institution. II, however. the
people must. OF necessity, remain 10 ieno-
rance Of lhe d.sposilion and management
of lne public money conided 10 the Bank,
then are they practically divcsitd Of ali
power efecluaIiy, 10 regulate o. control IL.
For, how can they correct ahuse., II they
are moi permitted to perceive them! Aud
wha' becomes Of The accountability OF the
Bank Officers aad Directors, it iheJ are
concealed from The public eye Such All
Institution would seem TO be al war with
every sound principle Of popular govern
ment.
The Bank Of the Stale, | am Of opin.
ion, is obnoxious 10 each and all Of these
objections ard as il ought never to have
been established, its Charter ought never
10 be renewed.
content myself with his hurried and
imperfect summary Of the grounds oil my
opinion upon this linportan; question.
If the Bank of the State is to continue
there are many and powerful reasons for
requiring to be made and punished, an
annual report of the debls due TO The Bank
By its Officers aud Directors, and by che
members of both branches Of The Legisia
,ure. 1t mos, be borne in MUD. that the
Bank aud its capital arc exclusively the
property Of the Stale. Tho public mo-
neys TO the amount Of millions are Ell
trusted to It's custody and control. and as
by The terms Of is Charter, Tie faith Of
tho State is pledged for The redemption of
lis bills. The Bank is thereby invested with
the dangerous faculty Of increasing the
public debt to an unlimited amount.
Hence ii is of the highest moment thai its
affairs be honestly AMI ably administered.
All CO nsiderate men, it would seem, III ust
agree that every possible safeguard against
abuse, where the temptations To abuse are
so potent, and lis consequences might prove
80 disastrous, If not utterly Inconsistent
with the existence Of The Bank, should be
at once interposed. Tic course thar has
been suggested Of annually publishing a
list of The names and liabilities Of :he
Bank Officers aad Directors aud of The
members OF the Legislature. is recon
roended by most obvious considera iinna