The Spartan. [volume] (Spartanburg, S.C.) 1843-1852, 1849-02-06


ulc1e benetted by this arran cement but some fffv
TO SIXTY OF his justcrcditors mostly farmers or la
boring men, got ther demands paid wholly ar in
part. This Is no solitary nstance-the naoyalb;s.
tory OF the Bank will present many, very mapv
similar cases, much To the honor Of the ins,tu,;on
and those having itin charge.
Ipresume, however, it will he said ,lnt we
a9e at this time. more interested in its monie,I his.
tory, than in its fiscal legal. political or moral
history. WE'LL sir, let us examine it in this fnan.
c,af point Of view. 1 say financial" with this
explanation. once fo- all, that as the Bank repre
sents the State IN the whole of its capital il is
question OF faascc. in the strictest sense of the
word. ssssss, sv essfF
Often as il has been s,ated-snd familiar rs the
House Isl the mode in which the Bank capi-
tai was made afs and The pewrr OF ,h,nk;ae e:,.
sxts5s .,,ss
'poses put down the sta;isf,Ss
Scoriginaf capial Of the Bank
To ,ha, in 1888. wa. added the 10 '~'-'' ~
Fire Loan, : ES - W, o ono ooo m
In 1887 and 'ss. the surplus re-. BY
venue from the u. S., was deposi. 80 ra
ted Tor banking purposes, 1,o51.422 09
:. w hat has become Of this immense amount of
the capital of the Sate7 Gone lost. intineates the
tion. genttemun. He is a man Of too much ye,.
So"ds character TO say so. directly. We who know
something ABOUT the mntter would be TOO much
asonished at such declaration. He very pro-
Perly does intend TO astoaish US bevond a certain
point. Ef
V Conc, tost says the anonymous writer's of news-
paper communications and pamphlets. circulated
amongst the people of South Carolina 5'Tbs
anonymous gentlemen do not care a " roober pca"
at the dstonishment Of those who know better
their object IS to take In, cheat, and deceive the
people-thc people, who at last are the true do
postories o. the power OF sove reignty who always
have an Interest, an ardent desire To know ri,
h"th. Well, fthink they are cheated, will CON
tlnue to he cheated until petty politicians become
honest, and Statesmen, ii we have any such. will
consent To bury Their personal quarrels in obliy.
'on Without pretending tn he unerring in ,,u
views and opinions. l have, and do pretend that
no consideration wha,vever has or can influence
my judgment in the discussion Of any impor,an,
question, as regards the interests Of the State.
am a. poor and humble man, ambitious onlv
with all my weaknesses Of satisfying those who
take, and have right to take an interest in NJ %
l'ahlic Career, thatsI desire to do wha, is risli
and TO the interest Of my constituents. Men NAV
and do. dsaer saboai ma;sers of vital imnor,an,s
bSt eiasify icSqees me 10 5tliecc, that this differ
srencesmky t,6 as honest'as tits permitted tn hu
'maaiiys eI Iscnfn To yindichts my private charac.
serssif chat Be ~ecessavB. have lived to little
pptpescsk ~ yrsf ~ sss'sTHs' gsf ~, ~
g " s.is sF tnri; prcpatsasto adz,m that sd far
- bssssn ssssa,u the Bank 81
3 !" sss Is; g IS The Bah
tions, aod preserye that ts s' a'u', us
rSIkcannet niuierstaiid l. do now - -, :,
,S6nn &c trati nod hondf Issxtsyess 49,.
ar as j nndcr and IT. ii; nee H:
Isionss pefhars fsn emitsly ssssSS n ~ ~
nnsrnsns ro H'cs yoa tho&, is sssore al sxioS$ $ibI
eosreet than errss Bstyshp sssissiest a6coahs Sg
ihes Gomptroller <nsraA Assho oettsinly has AZ in,
fevestr IN msre septliss The tf1tb. pisces tGis
affirmation beyond asl queeioo. le W. yvaf, 4
20 he Bank ont ,cfsts pfoiss has sf5 a'sSag- 8
paid in'ottsre Stsse Trsasury thee Z, 4sisgsL 1a
sum of = .sdi 3lSSoi6- .s59s.eof a9I
qs i, has paid the iuscsest on pubRo ass dsa ~ "a
dstas'o ~ - = a.7ssoas os1
debts, including Raiiroad sobscrip- gl7'
ton Ss.-yJ s.s. 2.44s.s2 %
80 ps1ag3 ,------.--
A asgfa s5sS2,o5e 35
OF this an,ount however. the 5"ta q
State furnished the Bank with 996,1e6 "a
Leaving the oggresa'e paid by ------ -------
Bank at '4uin,oo 81 S35 oa3 G,
This is most astonishing statement, I Know
when compared with the .chasses md ALLEGATIONS
against the Bank. hut is literally rar. and cam
not be dsrectty denied. ~ n r,siotb- "s
Many have been induced 10 believe that a re-
sort to increased taxation, has viii be nocessary
in consequence of the creation of the Bank of tho
State IhIs conceive to he entirelv erroneous
Ii the State borrows money for internal improve.
:nents Of any kind. whether Il be a Canal. a Rail-
road or to rebuild burnt city. of course shsfiust
pay. even if the people have Ia he taxed For a. y
purpose; but ifshe pay erdebts by The use
OF Bank, thus saving the necessity of a resort to
taxation, then presume the tax payer will think
I,by lar the most enli ghiened policy. So Ear she
has done of principal and Interest, as the same
fell due, and continue to do soft 700 do not
--;rri- her t~--u-ees. and impar hoe rrsdi,, Lv
striking at her fscRlsagent. s'Ea : ,giug s. -
Taxation has in fact greatly decreased. even with
an increase of taSabe propery,sns can he shown
by tho follow ing table preparcd,n 1889. by a then
distinguished member of this House, re BaLLtN-
GER, jr.) The average samual taxalon for the ten
years preceding 1919, ives s3IO SO.
The average nun'ber of slaves was 335, ,2i9.
The average taxation for 10 yeurs pre-
cedng 1899. was $30l ZIG. -
Of slaves for the same perod 2S5, ,430
Average taxation for The 10 years pro.
ceding 1882 was S260,5s5 =
Of slaves for the same period. .sss'- p 20S,1l5
Pc IL willthus be perceived that between 1919,
AND 1929, the people were relieved from he fnr-
then ofataxaiIon to the amount of SlSS, ,030
nd hntwepn 1900 and tn.tbo