The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1852-09-21

houtCo pay uloGo tHdD I per cent on
the capital invested. From these
figures, it is certain that Sumter
with free population of more than
10000, and slave population OF
more than 10000, must draw her
supplies from others than her own
merchants; and Of course to the ex.
tent of that over draft must send her
cash beyond her borders, which un.
der a more prudent and economical
policy might be be retained; for
Kershaw, with the two Banks, has
$4,000, in value of goods, and
only 9,401 slaves. The entire taxes
in 1851 were only $12,135, &c.
Chesterfield with one Bank has $73,.
400 in value of goods, whilst she has
only 3,713 slaves, and pays taxes
only to the extent Of IS, 1876. H.
These two Districts, with q greater
amount invested in commercial pur.
suits than Sumter, by five times and
more, yet have S,478 slaves less,
and leas in taxes 1,035,88, than
Sumter pays on her slaves alone.
Lancaster added to them, would still
leave Sumter 1868 slaves in ad.
vance of the three, and would but
little more than equal their entire
taxes united with hers. The Com
mittee would observe that Lancaster
is as conveniently located for the
North Carolina trade as Chesterfield.
The former has about ono thousand
slaves more than the latter, smaller
territory, pays nearly the same
amount of taxes, but is without a
Bank and Market Of her own, and
has not half the amour. invested in
merchandise.
From the facts detailed every one
can draw his own conclusion. Ea.
the Committee will remark that,
whilst the people of Sumter and
Lancaster are without the money ia.
cilities, afforded by their Banks to
he.peoplo Of. kershsw and Shester-
field, Hie citiz%ns Of the latter have
opened to thsn,i alike with the citi..
IONS Of former, all the markets of tho
Statej besides this their local mar.
kets. The more numeious the mar
kets, the greater the competition.
Local Markets inuite the sale of pro-
duce, and offer inducements for :he
purchase Of supplies. Monopoly in
Grade is the ruin of the cotton pro.
Queer. If forced to one particular
market, he must take the prices Of.
fercd; he must give the prices de-.
manded. His interest is to create
markets; Competition between is his
gain. Rivalry between dealers in
the same market is always the gain
of the farmcr-the want of it is al
ways his loss. Ready money facili.
ties attract Merchants and dealers in
produce-thus creating a market;
the want Of these drive tho dealers
of aud close the markets. The mer.
chant must have money facilities at
his door, which he can use at his
pleasure in moment, and can but
lily spare the time, or sustain the
expense, Of seeking them at distant
points. The greater tho number of
buyers of produce of any kind, tho
greater the competition, the higher
tho price; tho better for the seller.
If every District in the State were to
become market, the producer
would not lose. The want Of home
mar''et, compels the former to some
extent, to contract the business of
life to hired agcnts-the possession
of it would enable him to attend "i,,
propria persona" to his own affairs
would save him postage, commits.
sion for selling produce and buying
supplies, commission for acceptance
of drafts, freight, drayagc, storage,
and insurance; those moths which
fatten themselves whilst destroying
their victims. The honest debtor,
he, whose misfortuncs may be the re-.
suit of misplaced confidence or in
scrutable providenccs, is interested
in the matter. Sympathy may be
more readily excited at home than
amongst strangers; and whilst local
Bank could derive profit to itself, it
might aid the needy, and save him
from the tender mercy Of the mere
money lender.
That a Bank in our own midst
would create q market for produce
and supplies, the Committee think no
one can doubt, and the facts detailed
abundantly prove. The Committee
are informed that between $50 and
100000 worth of cotton were
bought at Sumterville last year---that
much more was offered, which
the merchants could not buy for
the want of the want of the ready
money facilities, that Bank would
afford. The Committee arc also
,pfnrtn.AH N h.. ~ n