Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1858-06-19

| por'ations upset tho country. Itseems, how.
ever there rs the same feeling in South Car
osina that there is in the Senate: and re-
celved speech from gentleman in the
south Carolina Legislature, which he nude
IN Docembor last on the subject and the Sen
ator from South Carolina gave ME cooy of
NOR DahK returns--the report of their comp
troller on finance. The comptroller Of Is
nance recommended to the Legislature Of s
carolina, In order more severely to chastise
he delinquent banks, to increase the penalty
on them TOR issuing bills when they wore un-
oer suspension, from Ave per cent, as it then
was: to ten per cent, and dcnouncing them
IN tho strongest terms. The gentleman who
sent me his speech did not fall into that no.
tion' but proposed to repeal the penalty alt, :
Sether, and carried it through the South Car
DINA Legislature.
Mr. nayne. Not altogether, Here let me
say very lew words, with the Senator per-
mission. think the cause of our stonn;nc
was that we had Bank of the State of South
Carolina that has not u shadow OF responsi
n'lity attached to it, 1t is the Peoples Bank:
the capital is owned by the State government
ana II rs public property, to be stolen and
speeulatod upon, and that bank had accom-
modated almost every person in the commu-
Inity that was notweI off; and when the cri-
Els came, she went BY the board first. If She
could have stood, there would not have been
asinglc bank in the State of South Carolina
that would have suspended.
Mr. Simmons. / think it is very likely.
Mr.. Iayne. In Alabama, they tried the
experiment., and my friends can say they lost
the whole of their capital there
mr. summons. i never knew banks that
would be likely to suspend if they never ac-
.pommQdated o customer Everybody can
manage bank so that there will be no sus
pension, by not lending money. / think the
Bank OF the State of South Carolina is the
lon'y bank thatdescrvesa banner in the State
u the rest did not loan their money. and they
did. honor them for it, 1t is what thew
wero incorporated to do.
Mr.. IIayne. They all did it but the Char.
lesion Bank and the Union Bank
MIR. Simmons. Tell me about the banks
sustaining themselves against q pressure,
when the whole mercantile community are
ialilnS about them, and not loaning money!
they will find no sympathy from me in such
aeourSc, Lam not condcmning the suspen-
sion; Lam only saying that, after this de-
nunciatlon OF the banks by the officers of
Snutb Carolina, they had intelligent mon in
tue Legislature who got this law repealed;
ana they continued suspended after the banks
IN tne Northern cities had resumed, and
wisely so continuedses Instead of lavinc this
revulsion on the banks, think that those
VIII" continued 10 accommodate the oUmnIu-
Wty, andsustain the crops, acted wisely
AZ the timo resumption was talked of in s.
Carplina, cotton in Liverpool was five and
hnif pence pound 1t had gone down in
four months from nine and half to FIVE and
q half pence, eight, cents on the pound If
they had resumed specie payments at the
time it was talked of, and other Southern
banks had done, so, depressed their debtors,
n luh nln Lc., ~ n
aEpence; but since Fhat, by accommodate
ing the public without resumption, it has
gone up to seven and n half pence. That
item alone will make moro difference to the
cotton crop ofthe cotton-growing States that
the whole bank cepital in them.