The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1857-10-14
ADV ERTiSE MENTS
For the Ledger,

MIR. EDITOR The following from an
Alabama paper speaks for itself and is wor.
thy of consideration ut time lik, tn.
present.
OUR NEIGHBoR's CATs.-Under the A.
Dove caption, an Alabama paper makes the
following remarks concerning the Banks of
Carolina and Georgia
"A day or two since, we spoke &C our
neighbours cats. We rccrr now te the in.
tercstlng animals, with the hope that the
members OF the Legislature Which is soun
TO assembie-will extend THEN Zoolorical
inquiries, and do something towards the
Ieiiei Oh 'he Alabama cream jug. 1t is time
that we begin to look after our own house
hold, and seeif the mouths mc haue al ho,ae
are not rs many as We can ill.
The monetary condition Of any commu.
nltyis always delicate topic, and we an.
proach II with all caution and Il due corsid.
Grafton OF the interests of all concernea.-
But there are Esc;S in the ctsc-and the
hrst1act Is, that money is tightr, in Mont
gohcry Than II has been sincp-. iS5-.
j nc second fact is, that the ;iuhlnrss is
chleiiy caused by the action of the Banks of
Georgia and Carolina. These Banks, il is
well knoWn, have their special agents scat
tered all oTer the cotton producing section.
forcing their bills into circulation wherever
they can. They are cotton Banks, enpt,at-
icaliy they go in for buying every crop.
ana OF late years they have made a rood
pe"i Sf money IN speculate on. And While
'hey are thus roaming about in the fields of
speculation, they care very little whom they
lWure. The Central Bank of Alabama. al
montgomery, being a solid, Legitimate rs.
'aoiisnmenl, doing regular business. is
in fb..t.
iore make war upon it, in Il variety of w:vs
their agents, secretly sometimes. and some.
times, openly collect the notes Of our Bank
TO draw gold thereon. Keeping the ins,itu.
lion indlsposcd TO afford facilities To- our
business men, when it is known that the
notes are TO be returned immediately for
coin.
I'll the issues of these Georgia and Caro-
Ina Banks were not SO adroitlv forced up.
Oh tae COTTON market. Mt points remote .com
theif counters, very prompt remedy might
oe suggested ut once. But they have so
ion9 had the confidence of our planters and
DINERS, that they can now with IMMUNITY
'heeI rs many persons as they please to
speculate in cotton for them. and To drive
-out OF circI lation the notes Of our own in
slitutions.
"0nc would think that an Alabama Bank
winch pays ten per cent a year and laws by
asInklng fund Of S25,OOO, ought TO be- at
TO get circulation here in Alabama But
such Is not the case-the Northern Bank
notes are by some hocus pocus kept at a
discount while Georgia and Carolina notes
redeemaDie hundreds Of miles off, are the
currency.
We do not believe that all this is rirht.
Our Legislature charters Banks TO furnish
n
VIII Mt once sec the advantage of having
local circulation and oc paying home insti-
tpuons the profits Of banking. Our Ncigh.
bors Cats won't let us do this. Financial
ly, our State is but an appanage of two or
three cities east of us. IL seems TO us that
something might be done by legislation. to
correct this state of things, and We shall
continue to call attention to the subject
from this until the assembling Of the Leg.
iSlatWe."
The evil Of which this Alabama Editor
complains, is serious one indeed, not only
to the Contra! Bank OF Montgomery, and
possibly to the other Banks in Alabama,
Mississippi and Tennessee, but to the peo
pie Of South Carolina. This clearly ex-
PLAINS the reason why NC cannot obtain
money from our Banks when it is needed
to sustain and carry on the Legitimate bns.-
ness Of the Planters and Merchants. The
paper circulation of our Banks far exceeds
their specie basis as well as the limit allow
ed them by their Charters-this obliges
them to speculate on their crcdH to do
this with success, as well as impunitv, their
paper must be sent rs far rs possible from
nome, to the detriment Of the place Of issue
and the Banking interest Of the places
where It's circulation is thus forced.
A lew years ago the Legislature of this
State passed an Act prohibiting the circuIa-
tion of Bills less than S5, Of any other State;
now let the Legislature Of A!abama, Mis-
s'sslPpi and other Western States do like
wise for The protection of their Banks.-
We have no desire to disparago the Bank
notes of South Carolina but when it is
more generally known what n cold reccp.
lion the Bills OF all other States meet with
in this State, there is no doubt they will
adopt some retalutory measures to defend
their own Banks and drive these intruders
from Carolina and Georgia from their com.
munities to where they belong. We would
suggest TO the Central Bank Of Montgomc-
ry to receive these deposits and in pay mcnt
of Drafts, Notes &c. &C., and send them
home for redemption, and in addition to
this let it establish special Agencies in
Carolina and Georgia. The Alabama Ed.
itor having so clearly solved the mystery fr
US, let us no longer ask the silly question
"where is the money ?" the reply gan oeiy be,
"not ut home"
These may be called Hhard times" but
thcy will not be il vsiR such times will
lead the people to investigate the true cau-
ses, and when the people do move in the mat
ter, Corporations may tremble'for the'trulb
must come sooner or later. From this time
forth lot the demand be give us money un.
III the answer ~, "HoME AGAIN"
Camden, Oct. 10. 1857.