The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1850-08-28

lOTlu observation-disclosures, QIlu proclaimed
The rotterness and frauds which he init.
mated by open charge, or dark insinua.
,ion, the friends Of the Bank showed no
sense Of guilt, nor uny desire to screen
guilt, iii, existed. On the contrary, in
the full consciousness Of innocence and
in the earnest desire for an opportunity
to meet, face to face, accuscrs and wit
nesses, one Of them, Mr.. McAlily, Of
Chester, offered series of Resolutions
as early as the 4,h December, ls4s,
s(sco Journals s2-3,) which, rec,ing
these charges nnd imputa,ions, and de-
claring the Importance to The public Of
ascertaining their "lruth or fulsily,"
proposed the raising Joint Committee
by ballot, 10 investigate every ,hingrela-
ting 10 the Bank and these charges
giving TO this Committee full power 10
send for persons and papers, administer
oaths, and search to the bottom every
charge made or insnua,cd. These re.
solutions were never advocated or coun.
tcnanced by the opposition, and when
the resolution, TO appoint Committee TO
examine and report on the condition Of
the Bank, came up, on the 18th Deceln-
ber, Journals 1907 Mr.. Henry, Of
Spn:tanburg, renewed the proposition
in new form, ms an amendment, Which
he offered in the following words, viz:
"Which Committee shall consist en-
,rcly of Anti. Bank men, who shall have
authority to send for persons and papers,
and take testimony on oath"
This amendment was, on the motion
Of nn Anti Bank man laid on the table
Mr.. Memmingcr, and every man Of
the party, with three or four exceptions,
voting SO TO dispose Of it. -
The Committees were finally ordered
and appointed, and were empowered 10
send for persons and papers, 10 admins
ter oalhs. and TO examine Witnesses; and
that they NIGH, have no cause for slur-
FIRING over their work, and not sitting the
condition Of the Bank TO tile bottom,
they were Yiven8nn unlimited time 10
fSfe-tt,oir work In, andS@ Is DC puid
ten cents a mile travelling expenses,
and three dollars a day while SO en-
ployed. Was there any finching here?
The main Committee was for the
Mother Bank. On it were five mem
bers. four were taken from the Anti.
Bank ranks and one only from its
friends. AT Columbia, one was n
friend, one took no part, and three were
Anti Bank Al Camden, the ma jority
were friends Of the Bank.
But i, was on the Charleston Com.
m,tec the most depended They were
10 prove or disprovc Mr.. Memmingcr's
charges and insinuations.- Son that
| Committee we're men Of clear heads and
high honor. The majority were oppo.
scd 10 tho Bunk, but most Of them were
capable of their work, and understood,
not only their duties, but felt the great
responsibility under which they acted.
They gave no evidence of parlalily. or
leaning 10 the Iank-thcir praises Of i,
were spnringly dealt forlh-thcir cen
surcs, think, too freely. No one can
read that Report and not see that it
yields nothing to the Bank, but what is
forced by sense ofjuslicc, aud by con-
victIons arising from irresistible cvi-
dcnce on minds too JUS, and too honora-
ole to deny their convictions, but by no
means so liberal Of their admissions, as
TO fall into The slightest weakness or fu-
vour TO the Institution or its Managers.
Every thing, therefore, which they adj.
init or state favorable to the Bank, is
the more TO be relied on il is the tcst-
monv or rather tho deliberate decision
~ ink I,n b. oE -.
advcrsarics, given on evidence collected,
until no doubt was left on their minds.
Let us now compare the charges Of
MIR. Mc.nmngcr, and weigh his evi.
dcncc III their support, with that o! this
Committee Of his own party friends, and
| will abide The decision for the Bank.
That there may be no mistake OF
wrong done Mr.. Memminger III this
trial, will quote below the summing
= OF his charges as TO The unsoundness
of,he Bank, in his own words, the whole
| passage. Taking up the condition oi
the Bank, he says in page 30: "Thc
practical question is: tPhat is the con
dilion of the Bank now, and where is all
| this money which its friends affirm that
il has made for the Stalc?" &c. On
the next page be goes on: Whatever
money il has for the benefit Of The State,
must be set forth in the annual state
ment which it renders 10 us Of lis con.
dilion. Let us take up the one (ls'
October, lSls,) rendered to us n, the
present session. BY this statement il
! appears that it owes $5,Sl2,026, and
has assets to the amount Of 50, ,Sl2, ,02G.
BY It's own showing, therefore, nj! il has
for the State, ns the result OF its opera.
lious 10 the end Oft the year, is 100000
which is carried to the credit of the
Sinking Fund. This is the whole sur
plus beyond its liabilities, even assum.
ing that every dollar Of its assets is per.
lectly good. But is such thing posi-
bile, as That so large an amount of assets
shall be realised without correspond
ing loss? The experience of mos
Bank is that they lose on amount at leas
equal to what is called their suspended
debt. Among the assets Of this Bank