Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1848-02-09
un 182ithe Sinking. T und SWas esta5

Qn l82the Sinking f'unds;sse I esta5s
,lished., -
profits 7.65 per cent. 81
|. From ls37to 1s4o,s 8 years. agerage
profits 7.3S per cent. ~.
Gin 1887 the Surplus Revenue was re-
From 1910, TO 1s47, 8 years. average
profits S. SO per ceoi, sssssss
lin 1910 Fire Loan realised fully.l
From 1915 to 1881, l6 years. average
profits 9.4S per cent e
president Elliotl's term ofsonice.)
From 1881 to lS4Oi g years. average
profits .53 per cent. -
president Colcock' term ofs5ifice. q
& From 1910 10 1917, 8 years, average
profits $50 per cent.
president Elmore's term of offce.) =
From these tables il will ibepsfceiyed- =
H., That every accession ofcap apisAllhe pro;
fits fell off, g. That they dliimiinished3 in
each successive Presidency. That for
every term Of years on both calculations,
and from the commencemeniaofff the present
time, they have beenconstanlly decreasing.
During The last eight years The average
profits have been below ordinary bank In
terest; and ffthe large, unexpsstsd, and
somewhat mysterious dividend The pre-
sent year is excluded, the aysfage profits
of the last seven years preYinns mount TO
only 5,5I per cent. Now 4 ae asillins
and not disposed 10 imputefany misman-
agement 10 tho present administration of
the Bank, and leaving: that poi1s altogelh'
er out ofthe question, tits len, that
Whatever may have been done former
times, either from too greatau Increase Of
the capital Of this Bank, ,Sors OF Banking
capital generally, or from somsshange In
The course OF. trade, thesinyestmefitof the
State in banking no longer yields a fair
profit, and is yearly ecolnins isss produc.
tive. The income on lis now eonsidera'
bly, less thanthe interest:paid oRst The great.
er portion of our debt, aud :leaying sout, the
lasi year, less than the ayeragesof The in.
lerest paddy the Bank on4the whole debt.
Il is therefore a;losing blsinesstp hold the
apilal and owe the debt; andslhe; conclu.
sion is irresistible, thai The isooners The one
is exchanged for The other the 6eiies ii will
be for the State, even ilrno other consider.
ations than dollars and cents swere Sinvoly.
ed. 1t is no argument To- Say that other
Banks in the State dono better IhaLi il
lrue.. is a matter for Flheir siock holders to
consider. It's enough for us+ the people,
the real stockholders in The Bank.of* the
State, 10 know that our Bank Id san aapro:
fiabIs concern, and rapid becoming more
so. ~ ~ II II A isstss -
have now shown Il trhst; 10 the; ;satis-
faction Of afIihose who have: had The pru.
dence to follow me alteutiyely through this
dry and tedious, though brief reSioW5o 1.-The
Bank ofthe State. Il. That itshas, since
very short time before i. tconmencsd to
paw the public debl,s sabsarbeda aE1d sappro:
prialed 10 its: own use, a amnch larger Ia
mount iof:money me wly sbos7osed the
State, than. ii has: paid Of debi sandSlhat i
has nof. :bv lis profits, diminisfisa The deb
bona fdef fassingte dol lar That Sits has
Ebpen instrumental liin cteasing shede debGol
the @Siais;i by efuying sio ssntf endsr Ithe
StMesE sElnds sshenSi held ihemon sdePosil;
Eand St,ibitings defdsiye disiil ends, and
aSlaiag IsisfhaRfd iua E
3ptovenienis and Railroads.. That n has
| violated .iis charter aud other scts or til,
Legislature, by mol purchasing i;and when
purchased, by, no. ,caneelling ,s1he. State
bonds, as 10 fact'it has again don e;,hissve
| ry year, in not cancelIiug the SS33z 900 o
Fire Loan Bonds. purchased ins Englanc
| and noio held. a. That itwieldsa a money
power lourleen'fold greater than that Of al
The other Departments Of the Stale Govern
ment. 5. That although all ms funds be
long 10 The people, il is wholly irrespons
Bile 10 them and to lheir. representatives
and is in fact practically subjected to ;nr
control whatever but lis own will. 6
That it is highly dangerous 70 The best in
leresls and even the libertiesSof the peo
pie. Z. That'il has become an unprofita
bile investment, And 8. ThaIlhere exists
no legal impedimen, TO winding il up a
any moment.
might have illustrated these positions
bv maLy facts and arguments. which, fol
the sake of breviIy, have onitled. But
will indulge The hope that what | have saic
will aid in spreading the CONNECTION ! have
ysef long and intensely entertained, thaI
putting an end 10 the existence zof mi:
Bank would do more than any Hone thing
our Stale could do for the preservation o
our present political Institutions, and the
prosperity of our people.-Yet I do no
ieok 10 see this done by The Legislature O
its own motion. 1t cannot. il will NOT cope
with the Bank, unless held to The confess
and substantially by the people. Grea
abuses have never been reformed wi.hou
their aid. Such reforms have onlyrarelJ
been attempted but a, their imperative
command. ANW-DEBT.
From the Hamburg Republican.
HONoRS TO THEsDEAD.
Ii was generally known on Thursday
last, that the remains of Lieut.. Adams
Sersanls Brooks and Maltison were lc