The Abbeville banner. [volume] (Abbeville, S.C.) 1847-1869, 1857-12-03
TIE DE LA HOWE SCHOOL At LETn..

devoted to the school at Letlc, in ALbeville
District founded by the Will of DIR. John
De La Howe, at the close of the last centu-
ry. lie deviscs the land on which lie resi-.
ded, with all his land adjacent, his library,
&c., &c, for the purpose Of keeping up the
farm and establishing school for the sup
port and education of twelve boys and twelve
girls, Of Abbcville District, so as to qualify
them TO make intelligent and useful farm
ers and farmers wives, and especially re-
eommends that the principles Of chemistry
be taught, so far ms they are applicable to
practical agriculture and domestic economy.
Thus, it is, indeed, a valuable nucleus Of ag
ricutural education, worthy Of the consider
alton and enlightened patronage of the Cen
eral Assembly. 1t is the foundation Of !,
benevolent foreigner, whose remains are
there entombcd, and whose example is emit.
tied to lasting honor and influence have
recommended to the worthy Commissioners
who how devote their time and attention to
ton in proportion rs their means will allow.
a difficulty in the way Of their greater use
tulness, they represent to me, lies in their
want Of places for their pupils after compile
ting their term Of four years. If they were
authorized, 10y law, TO send one of their
young men annually to the Arsenal Acalc-
my, ut Columbia, or four, or even two in
the C. urse of four years, and also within the
same term, four of the girls to Il Normal
School, i'll order to learn the art of teaching,
this obstacle might ultimately be passed.
Their teacher, this year, is young man,
formerly one Of their pupils, who has passed
successfully through Il four years course oi
the State Academies. 1t would contribute
materially to the progress Of that kind OF
education which has SO long bcc;. desired in
Carolina, if this young man could he sent
to an Agricultural School in Europe for two
years, and return to take charge of the Lc-
the School four years, in compensat' on.
FINANCE AND BANKS.
The financial condition Of tho State is
sound, though at the present moment
necessarily somewhat embarrassed. With.
out including the surplus revenue, S1,05I,.
422 %, which is held on deposit, the debt
OF the State amounts to S3,O5s,Gsl so
drawing interest at rate varying from 3
to 6 per cent. The taxes returned for the
last fiscal year arc S4G3,144 55. The ordi
nary annual expenses do not exceed SO 80.
600. But the payments out of the Treasury
the past year far exceed that sum. Fol
particulars, refer to the report of the
Comptroller General.
The same report will present the month
ly exhibit of the condition of the Banks.-
Within ten years the number Of Banks lia.
been increased to twenty, which are return
ed monthly, with an aggregate capital o
sl4,s37 ,641 25, with specie basis in Sep
tcmber of S99o,3o9 76, and line O.
domestic exchange amounting to SIC, O,265,-
$50 %. OF the last sum six Of the Banks
in the commercial city Of Charleston, hav.
ing capital of ss,l37,o42 25, returned
for their part only s3,O27,e57 73. The
capital Of the ten banks first named il, tho
exhibit amounts to slo,137, GAP 25; tl,ei,
circulation for September was S3,3so,s2G
their specie on hand for the same month
s597,040 l5. The circulation of the same
Banks, rs shown in the month of October
was s3,s06,5o4. and their specie amounted
to s43G,893 95. The ten Banks last named
having together capital Of $4,7OO,OOO
returned for Their circulation in September
SO, 5,344; specie on hand, $4Ol,4 ,450 81
The circulation of the same Banks, as
shown IN tho October exhibit, was 49,.
2ls,3l5 so; specie on hand, $267, ,s07
IL.
In the first half of the year, was pleased
to learn that the bills Of the principal Banks
in South Carolina constituted still por-
ton CT the most approved currency in the
West, and were available, also, to travellers
as far North as the city Of New York.
Those Of some of the smaller Banks, it was
said, were sometimes found, at certain
points in the Western States, circulating too
freely and in too great numbers. In grant
ing charters hereafter, 1 think it would be
we'll to confine the Banks to dealing in ex-
change, discount and deposit. The issue OF
bills for currency should be the prerogative
of the Bank of the State, which, in its turn,
should be denied the privilege Of discount
ing notes or dealing in domestic, change.
The corporations which demand circula-
ting medium for their business, should ap-
Ply to the State authority for the same,
deposi.ing one-tliird of the amount do.
sired in specie. and the remainder in salts.
factory securities, SO as, to assure the pub
lie Of the soundhess and conver,ibiIity of a
mixed currency. This suggestion is made
on the sapposition that the State will
adhere TO the Bank Of The State as its fiscal
agent mot because I prefer 1t as such.-
Unless some such mobilization of the sys.