The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1848-12-20

a manner as would bring distress neither tp@
on the country, nor its solvent debtors ~
SPEECH OF Mr.. BLACK. .
OF RIcHLANp. ...ss5 5..s,@
Mr.. BLACK menced bis remarks By sly.
ing. that Banking was valuable franchise,
which has been retained in part by the people
of this State, and TO- pari disposed Of to Others,
and disposed of Gas De eoniende1 for inadeqdste
prices in many. .cases. The private Banks af
paid largasaor this priyilege---the stock.
holders of Banks were gentlemen Of 81
gacity, who well understood their own affairs,
and had made money by the purchase Of This
privilege. To retain it, therefore, in The hands
OF the State was good policy, provided il could
be managed by the officers elected, xith The
same skill and sagacity with which private
Banks were managed. That our Bank had
been managed with great skill and sagacity,
the concurrent Testimony Of all officers Of other
Banks-of all our own public officers, Govern.
ors, Ireasurers, Comptrollers, &C.. who had q
knowledge of its conduct and operations, com.
bined to prove. This was conceded by tho
gentleman from Abbevie, and by every other
fair and unprejudiced man in the State Of South
Carolina. Charges had been made. and ars
again, against the management Of this Bank.
by individuals who wished to pull il down for
their own private purposes, but these charges
had as constantly been met and disproyed-snd
yet these charges, although disprovod, had beer
reasseried recklessly and pertinaciousIy.
This course In gentlemen, can only he ac'.
counted for by the supposition thai they desired
to obtain this valuable privilege on their own
terms, by taking it out of the hands Of the Stafs
and making it private instead of public
benefit. Mr.. Black illustrated this bt the, vel
known trick the horse jockey, who. in order
TO obtain horse for less than bis value, always
attempted to persuade the owner that he weufd
either stumble or have some other defect, ZEN.
dering him valueless. Ifgentlemen could stc.
ceed in persuading the people that the Bank
was an injury instead ola benefit to Them, theif
ends would be accomplished, which were ~
once selfish and unstatesmanlike. These re-
marks We're NOT intended 10 apply 10 the genfle@
man from Abbeville (Mr. MarshalD and others
in this and the lower House, who honestly be.
llevcd that all Banking BY States was IA iself
wrong and unconstituionaI-bm did aPpiy to
many in this State who, from motives purely
selfish, were attempting, by misstatemeffs and
false inuendos, TO mislead the public mind on. q
subject Of such vast importance 10 the we'll bs.
ing and true interests of the State. -,
The Bank has been Of immense benefit TO
the people Of this State. It has enabled ths
Legislature gradually to lorer the tares for ihs
last thiHy.si1 years-during period Of estrar.
agant expenditure by the Legislature. He held
in his hand statement taken from the Repottof
The Hon. F.. Bellinger, of Barnwefl, in 1889,
which established the following facts, (Repotts
and Resolutions ofthat Session p. Ely:
The average annual taxation for ten years pre-
ceding 1919 was $32051g
The average annual taxation fot ten. -.
years preceding 1929, 30i,7l6
The average annual taxation for ten ,..sE
years preceding 1889, 2SO,565
3Ol,7l6 -
Between 1919 and 1929 the ----
dlnunitlon sls,sO3 .,,, -.
10 years..
That is 10 say saving to the -----
State in 10 years. Slse,030 an
30l,7l6
Between 1929 and1s39 the 2s0 5s5 -
diminution Of taxation per ---
annum was 2l,13l
10 yeafs.,