The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1850-03-08


tercst due them, S3,333, l2o 81
Amount paid to tho State
creditors, &c. ,on account
of the principal Of their.
debts. S24i3,920 93-S5 ,S3z O30 %
Balance due BY the Bank to the State, s2,o33as5 NJ
Now the aggregate offunds in Bank, as per
,ls4s, ''' ~ ' ss,sla,oa6 81
Deduct Bank liabilities,
Issues, sl,691 $50 90
: uts Treasury, 65,I50 w
Depositcs &C., 55S,6J3 40
Bills payable, 10000 10 S2,4o5,663 4O
Would leave of assets, ss,45es6s IA
se.ernens s,o332s5 o.
Leaving the balance Of nett profits, el,42307S ~
But it is said that the apdlable assets of the
Bank, nop, are not sufficient to meet its habil-
tiles. And with an air of graduation, gentle
men who lead this onslaught on the Bank point
to the present Report of its President and Di-
rectors as developing an alarming condition OF
its finances. But the true state Of the case is,
that the Bank is in as good relative condition
as it has been for a majority OF series of TWEEN
ty years. He had examined the tabular state
meuts, accompanying the reports oft Pres
idcnts for that number of years, exhibiting the
cash Liabilities, cash means to meet them, and
what is termed, in banking parlance, Liabilities
uacorcred. They are from the present to the
Year 1889 inclusive, and for the year lS2l.--
between the years 1880 and 1871 exclusive,
and anterior to 1921, there are no such tabular
exhibits to be found. This review shows that
for eicrcn of those years the liabilities uncocer
ed were greater than at present; for four OF
them, the liabilities uncovered exceeded those Of
the present year in u range from $272,9Sl to
$4lJ,54S He was proceeding upon the prem
ises of those who were misunderstanding for
tue purposes of the argument, the uncovered lia-
bilities nov at 81 l,2Y7, ,5J3 VI. He referred
gentlemen to the annual reports in the Bank
Compilation in tue Library; he dealt not in as
sumptions. When he asserted facts, he spoke
adviseIly from the book. In the whole period
alluded to, there had been but tuco years, 1913
and 1888, in which the uncovered liabilities
were beneath one million OF dollars. In 1888
tney were only 1866, 1919; but he proposed to
ca.,y back the honorable Chairman of Ways
aud Means, (Mr. Memminser,) to his own re.
corded opinions in 1888, when III his official re-
port he said Vie issues OF the Eank "could with
perfect saftty be extended to S,2,COO,0 ,0O0." Let
US then see what tnc relative condition OF tine
bank now anu @ IN 1000 "oala DC. Inc oi ,ssucs
OF the bank ii 1865 were sl'1o@, 10 Hii 'ne m
honorable gentleman me" thoagt IL wouia nave c
been perjec"y Seje 70 nave aouea 90 40 o1
that Is 10 say 10 nave a'T!eu rS co., 20 Iu
lars TO the 1e' uhc''ereu i'anl,eS ~, -,
-mahihS OIL u"coce'rH e. '.oD"""S .,.. Sl''o'ooo
w. 1ne uncovered naoiiitleS o' Inc p'eSen'
year, as assumed by himself ll The argument
are ,297,o93 80 dollars showing q @icrence
IA .iaror oil the present year OF so'Ao' TO- way
tlen tie alarm OF the genIlenia"' ~hei he secs
the bank now Ia oe'1er hahchii oo"u..o'' NJ.
! tlial ''iat i'll winch his own Recommendation
woih have placed IL IN iooo'
Bnt lie he!l r.rat Notwithstanding the uncoE-
cred Liabilities were technically 81 ,297 ,593 W,
there was no reasonable probability, may posi-
bt, oia,y ,uu beiog made on the Bank wAicn
it could not meet Personal deposites were III
cludeI in the estimate of uncovered liabilities
! Il was (air TO deuact them from the anlouut O.
auy possible run Oh the Bauk. For, il gen,lt-
men woud rcier to tne table of average depos-
ties in the BAuk from 1915 10 lS47 inclusive,
they wouid discover tnat 10 material change
ba; occp. i, the amoultor tieposiies beyond
! what might DC calculated upon from Tue ODD
nary HUI tua,ious ol business. (Sce Bauk Com
| ;I.,;,, ,,,,,.S21\ In Inn yn,.s lS37-S Wuen