Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1858-05-19
For the Advertiser.
HANKs-"PLAN NAN"

For the Advertiser.
DANKs-"PLAN NAM"
Ny yindebtedness-origiR Of noney-the nature Of
money has changsd-origin Of Banks-usury laws
aud State protection have always made the mischief
&C., &c. What eonglomeratOn Of subjects to be
discussed in one short communication the above ap-
pears to be-
Ny frieAd reminds nle Of an old orator who con-
trased his subject with bost imminent danger con-
sequently in imitation Of the boatman he rowed hard
alternately 6rst at side and then at the other in
quick succession for q long time and then gave
severe shove just behind accompanied with big
grunt, and exclaimed, now friends, havo just got
back to where started. "Did very we'll to do that"
suid ono of his hearers Ny friend has gone to and
fro in his various Subjects ke the old orator in his
boat,) and finally he has gone to what would call
the tail end and then be e1elaims mot in triumpb)
but in horor, "when you 60 to sail again Keep near
the shore"
Don't be scarcd friend, can swim. Don't think
you will ever get back to where you started from.
Now a. TO my Indebtedness I read when boy in
somo of Dr. Frsnklins excellent sayings, that pune
tuaity is indispenssby necessary to establish young
mans character on firm basis, and have, since
that time endeayored to attend to the great phoso-
phors instructions in that particular, and think 1t
would be well for all young men to do so too.
1t is said Of the great Randolph that on one ocea-
sion when much engaged in spocch, he stopped sud
denly and then exclaimed three times in quick sue
cxssion, Gentlemen, have found the philosophers
stone Tint is, pay as you 60" owe bat a little
now, and mover did owe much at time, and am well
able to pay as T CO. never borrowed but from my
nsighbors, aud they never asked any surety.
Ny friend supposos I am debtor because I want
the banks abolished or properly adjusted, and then
he says away down below how hard this would be on
tho poor debtor. What an absurdity this! What a
strange category my friend seems to have got into!
Tho most of US know how and when money and bank.
frat got into use, and know too how the present
bsnks got into use, but will the gentleman tell US how
they may be got out Of properly adjusted so
to be blessing to mankind. This think every good
man should desire, even the banks themselves.
have no doubt that many Of our bankers are c1-
cellent men, as their conduct has fully proven in the
recent Suspension But We are not writing for nor
against man, but institutions. Eut my friend sup
pore is for plenty of money-like tho boy that g:vc
silver dollar for 100 eoppcrs-wants pocket full
whether it lie any account not. If bank bills are
issued as hitherto, without any restrictions for many
years subsequent to this time, would suppose they
would become worry plenty, almost rs tho leaves Of
tho forest; and then what account would they he. If
the banks issu. msny paper dollars for in
O N,ny rhora aoct ham
It ia the keeping Of barely sufficient amount of eur
rency in circulation, that money the
purposes for which it was intonded, and hence the
necessity If strict laws and regulations il this mat
ter. An inflated currency fais to rsse proper
ty far above ts value and do much harm in the end.
II silver and gold were plenty Aiut rocks, they
would BE- worth but little than the rocks. Ny
friend has Very justly observed "gOd and silver
adopted US the measure Of value in exchange, be-
cause they were precious and thereby portable and
because they were Furnished from the bowels Of the
earth in uniform quantities." &c. On this account
nothing has ever yet been found to anawer fully in
place Of the precious metals for money. Lyeurgus
substituted iron for gold and silvcr as medium Of
| exchange, but this only lasted for short time and
how can We expect the pre:< t inflated currency to
| last long
gave my honest views On this subject before, ho-
ping thereby to contribute something to the good Of
our institutions and to society. then said had al
why's been in favour Of State Bank, we'll conducted,
hut even doubt the proInety Of such bank. Gen.
Jscksons patriotic and msgnanimous conduct rsla-
tive to the United Smtes Bank, wss sufficient to i'm
mortalze him without any thing else lie woll know
WAS plueo Of vile corruption and fraud, and he
used all his power to destroy it and although he was
severely opposed by many at the time, yot
that it was good thing. fully concur with our
President in his view the subject Of the Banks, and
say ngsn. if thoy cannst bs managed better than
hitherto, tear down the Banks.
But enough on the subject. Twill say to my friend,
you would repeal the usury law would your Then to
my judgement you would sevsr the last remaining
cord that gives any check in this gambling spccula
ton in money matters, which is too rife in our land.
It is law of foresthors sanctioned and corrobo
rated by the word of God, and has prevented much
confusion in pecuniary matters. What deplorsblo
condition our friend would have US in He says,
"last Fal in Now York men with perfect impunity,
sold the use of their money for 10 per cent per month";
that IT, lse per cent por aunum. What farmer could
profit by borrowing money at such rates. Whist would
become Of the poor debtor if he had to pay the
mous sum of 81 % for the Use Of 800 per suns,n.
Il about as much as the farmer do to pay per
cent and do q Swing business doubt whether or
not farmers upon an average make moro than 7 per
cent on the money vested in their farms, hands, &c.
Some Of the most prosperous men Of acquaintance
losn much Of their money at 7 per cent The truth
il, it is about much it is worth to the farmer.
If he has to give much than that he had bettor
sell property and pay up if in doht.
But you would throw everything broad cast to
chance; money, merchandise, and all such, aud even
our beloved State unprotected too would you' What
precedent for Lsgislston Law and order are
necessary to mans very existence and tho We
oaa approximate to perfection in these particulars,
ih every thing, the bottcr for society. If tho banks
money matters, commerce and such matters in gener-