Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1857-11-19
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The Comptroller General now proceeds 10 over
hanl In turn, those Of the country
It will be observed that OF the above s1ouHt tbe
Bank cfthe State of Sonth Gasolana has been ~
sessed So, ,9585 58; and, as she is the Ascal hst-
tuition, that sum wss simply transferred On her
books to the credit account Of the State. The
operation is uue neither OF gainor loss tcthe State
or the Bank, the amount goiug into the State
Treasury, not, IS would Otherwise have been the
case. as profits for the year, bnt ss .; special
item. =. = :, ~; 3ssI. So. 80
It is as we'll to meet at nnce the absurdty of the
argument that because thfs State instisutou .sns-
banded, therefore the State is nndsr obligations
being hcrseg 'fevenmore deeply gniity. 10 excuse
the private suspended Banks, and to forbear the
enforcement of law agninst them. This Bank il
under an organization and management distinct
from the Stste-the State having only farntshedit,
banking funds. In the character Of afastockhoider,
the States recourse for erroris thats
againsta Direction. In the charabtef OF . soye-
reignty, its recoursefor the msladministrston Of
its agents who manage that public interest isthat
against other officials, as Governor or Secretary
of State, who have departed from the iaw--G cor
rection Of the wrong and presentiouaof its fecur-
renee. As the Bank isa chartered institution the
porate. The State having ordered it BY Law not
to incur suspensions bow can shs State be respou-
sible for the violation? Uniesssthe State had
direct completely with and prisity to the late
pension. and which no Ingenuity can raise into
fact it is worse than silly, t repreheusible, to
claim that the State is under obligstion, legAl or
moral, to excuse the private MDpsnded Bsnis,
because the Bank of tie State cE Es5Soyh Bcrolisa
suspended. II is bat insisting That two wrongs
mike right, and that one wrong jastifes another
but making lava farce. There is too much Of
this sort Of licenticusness, especially Htese mon
ey is CO concerned, abroad in The land. The action
Of the State officer towards that Bank is righteous
as an example and o precedent. and the law which
made i, his duty is bat statutory disclaimer Of
any obligations the part OF The fste to do other
chartered Banks. Id bot it b but Justice, an
award of approving iii cement, to The, specie-pay-
ing Banks, which hare done their duty, that some
legal reprobatioh should be put upon those which
have not. Aud but Justice to fhepeopfe, that
some eompshsati6n sk6old be- made the State, for
the spongtng Of them through fetitpds exchange,
which our Banks in violation ofSisN, haye con-
summated, Pint snctl exchanges its common
rates. is foisfion Of the mlsy adsos has. We are
Informed, been satisfy decided hy Jndge 0'Neall
on circuit, sgainst the Bank Of N4Nberry; and
this fact tofether With the fact thatthe usury law
shas been tuned 81 the Banks into Que applicable
only againstths people sisE suf1 f1eient inducement
for the Legislature inow teach them that la0 IS
not q farce. =.
As we urged in our late elsborsts article, ad-
dressed to the Legislature, let the five per cent.
penalty be:enforced assn incessans urging to re-
sumption Of specie paymsnt andas public bene'
it unless perhaps genuine and substantisl reforms
are adopted By way of prevention of future reyul-
sion. Forsoosh The State is tobe deemed guilty,
and to, be made to suffer, and the Ranks' which
have perpetrased the guiit, to be not guilty aud
not to suffer! Are the Banks, like Louis the
Fourteenth, the State 80 that theirs is the power,
as the state,sris the guilt p eharte,ton Ne.rs.