Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1850-12-07

community depends on the strength of the
tic which unites the master and slave, and
that again depends chiefly on the profits
of agriculture. Every dollar not actively
employed, directly or indirectly, in the
main business of our people, or some other
industrial occupation, is of little worth in
estimating the reliable wealth of the State.
The moral effect, however, is much more
serious. BY diminishing the sources of di-
rect production which enrich the streams
of industry and progress, you multiply the
number of that class among us, whose bond
to the community might be cancelled in q
day.
AS long as the interest of money is lc-
gally forced beyond The point which, ir IN
restrained, it would usually reach, an equal
lty between it and the profits Of capiinl
can scarcely ensuc, especially, as the latter
require skill, labor and management, while
The (ormor is acquired, without cxcriion of
body or mind.
The widow and the orphan who are in
capacitatcd for the business of Southern
agriculture, have generally their entire
property in bonds aud stocks. A potion
of our male population likewise, from ma
ny causes-the high rate of interest for the
use of money being the prominent onc-n
changing their avocations, have given the
same direction to their capital They find
it easier and more profitable to deal in pa
per securities, than TO encounter the haz-
ards Of cultivating the ground, or of manu-
featuring or commercial enterprise. This
is a natural feeling, but for our publ, rulers
TO encouraged it by law, is opposed to
sound policy, and at this junciure, obvi-
ously detrimental to the interests of socic-
ty. If The larger portion of The capital, so
scl6shly and alphabetically appropriated,
were in advancing judicious system of
internal improvements, in draining and en-
banking the swamp lands; in iron and plank
roads, in commerce and mechanic arts, in
mills 10 convert our various and abundant
raw products into fabrics, and the divcrsi-
fed materials, which the progress of civil
zation and refinement has rendered so es-
sential to human enjoyment, and in the es-
tablishment of direct trade between South
Carolina and the commercial nations Of
Europe, we should soon, not only be ena-
bled 70 enlarge the domain OF our people,
over The physical obstacles that so Injurious
= circumsc,ibe it. but results of political
character would follow of incalcuiabie mag
nitude to the State.
In nineteen States of the Union, the
authorized rate of interest for borrowed
money is @ per cent, in six, it is per cent,
in four, per cent. and in one, 5 per cent
What the regulation is in California am
uniformed. Of The old thirteen States. a
higher rate than 6per cent. is allowed, be-
sides our own, only in New York, Georgia,
and New Jersey. New York being the
commercial emporium of our country, and
The recent settlement of large portion of
Georgia, are causes which have sustained
in those States demand for money, and
given it value, which does not exist in
South Carolina
Asgermane to the general subject Under
consideration, trust that may be ex-
cused for repeating my recommendation
concerning drainage law, and the estab-
lishment OF Board TO remove distractions
in streams.
The imminent peril in which our peculiar
institutions are placed, thereby rendering il
necessary on the part of the South, not
only to protect, but strengthen and perpet-
uate them. have induced me to advise the
passage of law exempting the homestead,
and one or more slaves from final process.
On this subject, it is incumbent on me
merely to remark, that such an enactment
would measurabiy check tho split of emf
grafton, increase the value of slave proper
ty, encourage all classes of society to pos
sess it, and insure the unfortunate, especial
ly the widow and the orphan, perpetual
dwelling place, accompanied by the means
of making life supportable, if not comfort
able: In oider that it may not operate
preiudicially upon creditors, the law should
be prospective in its operation.
The public safety demanding the prompt
execution of the resolution of the Legisl,-
ture, passed in 1948, to increase the num-
Ter of small arms to twelve thousand,
have purchased largely of muskets aod ri.
fies, and caused several thousand muskct
accoutrements to be manufactured, princi.
ipally in this Town. The actual number of
small arms and other implements of war on
hand at the time entered into office, and
since put into the Arsenals by my order,
you will find in Exhibit A.
At an early period of tho present year,
| visited the most vulnerable situations in
the State, in order to provide for them the
means of safety. The result has been the
erection of Magazines for fixed ammunition
and depots for arms at Georgetown and
Beaufort AS Charleston is not in the CON
dition of defence which her exposed con-
diliou and commercial Importance entitle
her 10 be placed, 1 suggest the expediency
of furnishing her artillery companies with