Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1850-03-02

va WY 'Il''S VIC opponents OF
the bank can do. He seems resolved to
be in an ill humor with us whether or no.
and am forcibly reminded of the fable
of the lamb drinking in brook below
wolf The wolff him he muddicd
the water. That is impossible, said the
lamb, for | am below YOU. You did
me an injury, said the wolf, last winter.
l was not in existence, replied the lamb,
anterior TO last spring No matter, said
the wolf, if it was not YOU, it was some
of your kin, and will kill YOU anyhow.
am greatly afraid that my friend from
Union has come to the same detcrmina-
ton in regard to the bill on yourtable.
lie complains first that the committee
who reported the bill were friendly to the
measure proposed by his cxcellency.
Never before did hear of the enemies of
ameasure wishing to take charge of it in
a legislative assembly. According to all
parliamentary usage, the bantling should
be committed to the nurture of friends.
The gentleman says that, when Dutch
man is tried, accord ding to the old law,
he is entitledt to have Jury de mediate
hngu@. Now, sir, | would most respect
fully inform my friend, that this project
OF the Governor for winding up the bank
is not an alien, it is native born Carolin-
ian. There is no necessity of having a
Jury composed of onehalf bank men
They have no sympathy or feeling for
the project, and would do nothing to save
II from destruction
The honorable member from Union
says that the opposition to the bank
comes from the West, whilst the bank
itself draws its strength from the east,
the true source of wisdom and hgh:
Has my friend forgotten that the East is
no longer the land of light and wisdom,
but Is shrouded In darkness and ipno
rance? The march of truth, religion and
wisdom has been westward, leaving be
hind such financial heresies as that gov
crnmcnt should establish banks for the
purpose of lending money to its citizens.
We have been told, Mr.. Speaker bv
these wise men of the East during the
present discussion, that the farmer needs
bank as well as the merchant NV
observation induces me to believe. sir.
that the less a farmer has to do with
banks the better will be his condition.
whenever he turns speculator, and be-
gins to employ his credit as capital, in
stead OF his lands and negroes, he be-
comes embarrassed, and ends a bankrupt.
Ills income and receipts are not like the
merchants, monthly and daily, but an
nual; and therefore he should avoid all
bank accommodations. His profits, too,
are small, though more certain than
those of the trader and he cannot afford
to pay the interest of a borrowed capital.
1t is objected to the bill on your table,
that 1T gives too long an indulgence to
the debtors of the bank. | did not OK
pect to hear such an argument as this
from the wise men of the East The
friends of the bill know that one strong
argument with them would be, that the
winding up of the bank must produce pc
cunlary cmbarrassmcnts throughout the
country. In order to defoat this arou-
ment, and prevent any such results, the
bill proposes that an extension of ten
years indulgence should be given to all
the bond debtors of the bank who may
desire it. If the time is too long, let nv
TREND from Union propose shorter.
The House was told the other day by
the honorable member from Charleston,
who sits on my left, and whose remarks
were listened to with so much attention
by all, that the bills of the bank would
come in SO rapidly after ceasing to dis
countncw paper as to render it timposs-
BILE for them to be redeemed. / am
afraid, Mr. Speaker, the danger is the re-
verse, and that they will not be prcsen-
ted fast enough, Indeed there is but
little doubt, carrying as they do the
faith and credit of the State on their
face, that they will continue in circula-
ton until required by law to be returned
to the bank, under the penalty of being
regarded as continental paper .
We lave been informed by the same
honorable member that the pro its of
this bank would have been much larger
during the past year, but for bad debts
| am afraid this is a difficulty which the
bank will always have to encounter and
which will every succeeding year be
greater and greater, as her debts are
called In But, sir, the idea of a bank
making large profits in the shape of bad
oebts, is one which the people would