Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1858-03-31
For the Advertiser.
TEAR nnWN TIE RANKS.

Nothing perhaps conduces moro 10 tne naPPluess
and we'll being of people than healthy sound cur
rency. All other matters may be properly adjusted
and adapted to tho real necessities of men, and yet
arrangements in money matters may blast the airest
hopes and brightest prospects This has been proven
to us again and again, and although we have been
near ruins door, not only since last fall but often be-
fore that time, in consequence Of the fluctuations in
deficient currency, yet still continue to pursue the
same unsuccessful With but little alteration or
change. When we retrospect tho past, what can we
hope for in the future but desoaton and wide spread
ruin, without permanent change in our pccuniary
matters But few years since, and it was very du-
bious question with many whether tho State Bank
should be continued or not but that excitement soon
subsidized and instead thereof mania in favour Of the
formation of new Banks sprang up almost in every
section of our State. So much did the people get in
favour of Banks that had not timely check been
given there might have been ere long, Bank at eve
ry Court House in tho State. About the year 1920,
tho spirit in favour of Banks had gone so far in the
State of Georgia that almost every merchant OF note
had Bank. Tho result was that in few years sub
sequen to that time many of the merchants and their
Banks with many farmers, were bankrupts; and we
think it very propitous indeed, that timely check
has been given tho formation Of new Banks in our
State. We plainly that even now our veal or woe
is at the mercy of the Banks.
Nothing could perhaps more efeetually produce
that state the most to be dreaded than and
lasting arrangements in the Banks. This is fully
proven to us by the recent fucuaton that has taken
place in pecunisry matters. Many Of the strongest
men have not been able to Withstand its devastating
effects. Knowing then as We do, the contingency
which rests upon almost every thing in consequence
of the very precsrous and uncertain condition of the
Banks, what shall we do' Tear down the Banks?
would answer this should not be done preeipitately
or in haste. would give specified time to all to
| prove their soIvcncy md ut the expiration of that
time all that found by thorough investigation
of their real condition to be defective or nsovent
should be dispossessed of their charters.
To add facilities to tho transaction Of business and
the conveying Of money from place to place, have
always been in favour of n State Bank and Branch
Banks of the State at every important place OF trade,
Notwithstanding there are many and very serious OBJ
iocGons 10 such Bank. think we'll conducted
bhuk VI pe iusuo w SssS''
TALLY to the revenue of the State But to place it in
the power of any set of men to use three pa
per dollars to one in specie, and many of them no
doubt not only to one (as the President states
but much more, is unjust unequal and absurd in the
highest degree.
But this is not ALL these have it in their power
to put our all in jeopardy, and bring upon us the
greatest calamity whenever they soc proper as has
been recently proven by their suspension.
How it is possible for any one, after being informed
Of the real condition Of the Banks to soy that he has
entire confidence in the solvency Of the Banks we
know not 1t is really startling to read the accounts
given US of the Banks by able writer's 1t is enough
to arouse every man to action to see his imminent
danger
We shall not oppose any man for voting against the
Banks We have no need Of but one Bank, and that
should be tho State Bank. This could bo made to
supply sufficient amount of currency to answer all
our PURPOSES and the State be much benefited by the
interest of the money in Those Banks that have
withsood the storm Of suspension and have continued
all the while pay out the con certainly deserve pat
rona,e; but VIC say unless the Banks can be better
conducted than hithcrto-Tear down the Banks.
SlLUDA