The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1848-07-04
From the South Carolinian.
SOUTH CAROLINA BANKS.

of South Carolina. A settled pllnciPie ot op-
position and hostility TO every thing in which
South Carolina has been interested, has tor so
long time obtained in that State, and given
coloring to her published opinions, that we look
upon this involuntary testimony of our Georgia
neighbor, as an act of remarkable generosity,
and it gives us evidence of a returning sense at
Justice as regards the public opinion of that
State respecting our officers, which is exceed
ingly gratifying, especially when there is so
much pickering amongst ourselves in regard 10
charges Of mis- management Of the State nsll'
tuition, lis faroritism and its oppression.
SOUTH CAROLINA BANKS.
The last Macon Journal and Messenger by a
great parade of figures, endeavors to show, that
certain Banks OF South Carolina are "no better
than they should be-" in other words. that ac.
cording to the public statement of their condl'
ton, that they could not promptly sustain the
shock Of sudden and simultaneous run upon
them. 1t is somewhat amusing to them that
have not forgotten the eventful histories of the
Banks of Macon, of the Ocmulge Bank and the
Commercial Bank that a Journal located in the
City where they figured and fell, should be raj.
sing its warning voice against the Banks ol
South Caroina-Banks, most Of which have
lived and hnurishcd without blot upon them
for more than half century, and which are 10.
Gated in the State, where with the single ex.
cepton ot the Bank Of Cheraw, by none OF
her Banking Institutions has there ever been
dollar lost. We throw aside then all the figures
of our contemporary, on the same principle that
the sun will rise tomorrow because it has risen
for the last six thousand years. we will continue
n; 81 Ron
bably redeem all their liabilities. These are
our figures, and in our estimation, they are an
ample offset to all the abored calculations OF
the Journal and Messenger.
We are not ignorant that the Banks OF Geor.
gia dislike to have their issLes crowded from
circulation, and pressed home upon Them, by
bills of institutions ou, of the State. This oPe.
ration dminishes their power and cuts down
the amount of their dividends. As Georg ians,
we will willingly give them the preference. so
long as they are entitled 10 confidence, and as
their business is conducted with Il liberaIity
equal to that which marks the conduct of other
Banks. BY their charters, the State has exten.
dcd to them privileges and favors, which she de.
nics her citizens. These are given, at least on
the implied condition, tha, they shall be SO used
as to enure 10 the benefit of the people. But
how are they exercised! How are the people
benefited by them! In times of prosperity,
greedy of large profits and urged on by the
spirit Of speculation, the Banks extend their
means so widely that the moment reaction
takes place, they hecome alarmed themselves
alarm others, add to the panics which they had
been instrumental in creating and at the same
time when they ought to be in a condition to
heIp others and TO control the storm that is bea.
ting around them, it is as much rs they can do
TO take care of themselves. And is it not too
often the case that in protecting themselves
from real or imaginary danger, Ihey evince
total disregard of the interests of the com:nu'
nifty at large and especially Of those upon whose
favors they have lattened!
But when every thing is gliding smoothly
along, who are the recipients of their iavors?
Are they not limited to their Immediate neigh.
borhooI, and even then to favored few? Can
planter IN the country, on The best security.
borrow dollar? His crop may be in market.
Prices may be down and he may wish tor few
days an advance upon it. Can he get il! III
he cannot, the cotton, speculator can, and can
get il to buy his cotton when it is fnrced upon a
dull market. In some Of the interior towns
where agencies are established, he may some.
times get his draft on his cotton discounted, for
80, 80 or sometimes not beyond ID days, hut
for this faror he must pay per centage, which
the Banks modesly term exchange, over and
above the legal interest, and this too with the
assurance that few or no favors will be extend
ed 10 his factor by the Banks, should his paper
happen TO fall due at time when his cotton, ii
sold TO meet It must be sold at a sacrifice.
1t cannot be disguised, the people Of the
country know it, that the Banks OF Georgia
have no souls, that they are managed solely for
the benefit of their owners irrespective of their
necessities and of the public good. If these
Banks wish then the symPathies of the
people their co.operalion in securing for
them a circulation to the exclusion of foreign
bills, they must give as well as take-favors
must be reciprocal.
When they have satisfied US, that they have
faithfully redeemed the pledges implied in their
charters, that they have used as not to have
abused their privileges, then and not till then
will we lend our aid 10 drive from the borders
of the State the competition that 50 much an
noys them. But even then we shall select our
own means and our own time. The period
most certainly will not be one like the present,
when forcing the bills Of other solvent Banks
from the State, must result in enhancing The
pecuniary ernbarrassments that now prevail and
in the serious injury Of the great masses of tho
people. Union.
GENERAL TAYLOR.
1t was whispered about last evening that
General Taylor had sent letter in this city for
publication, repudiating the statements made in
his hehalf hy the Lnuisiana drenalnn in Phil: