The independent press. (Abbeville C.H., S.C.) 1853-1860, 1858-11-12

Our Georgia exchanges lrin:, lis Che Cover
n"rs Message, "n', some notice of the opening.
"I proceedings. We can only make room at
present Tor tue following extract of Gov.
l'Eo"n = Mcsaagc in relation TO Banks:
In consideration of all the ilnpcrfcctinns and
abuses "i "nr present banking system | am If
opinion that We should do all in our rowe. ,,.
''riu| about lis complete rrF"rmaii"m ami ii
tins lac not possible. we should abandon it c,.
tirrly. ! am the advocate of no lnr>;, ,urosur,,
'hai would either violate the legal ri.ll> uiii,c
present corporations, (llnwcvcr unwi>vly they
Were @r"n,ml. i"r that would bring ,IiSlrcs. uI
e :ho people. i,y Il sudden return from Il pa
.'r L" Il specie currcmcy. reformation 50
radical, II attempted, must DC ,hs work OF
years.
IL the Legislature would continually refuse
th charter any new bank, or To enlarge the CAP
ital stock of, charter any bank now in en-
istencc the system wu;,iu gradually work it,
sell on, Icy 'ii'uX Of lime and we might. with.
out any sudden shock, return safely 10 the eur.
rcncy of the constitution. plant ourselves upon
II firm specie basis, and rid ourselves of sys
tenn against which the great and good
who conducted hc revolution and formed our
constitution intended to guard their po<tcriiy.
when they declared in Constitution that n"lh-
ing but gold and silver coin should be made II
legal trndc".
In two ofihc States of this Union banks are
,'r,i,i':itc'l ly constitution provision two 9th
rr> lave 10 banks, and another had but two
;'nali banks, whose charters, i, is said. hay"
been fortified iy the late suspension AMI !
Al Informed, upon what | consider reliable
authority, that the late commercial prcSsG,r
was comparatively bat little felt within tlc
limits oft hose States.
SE"u.,i our people def rrrnirc. however, {"
c""'u"c the present banking system, aml To
charter new banks Increasing their number
and thereby increasing" their power in the
State, ] would respectfully urge H." iml'"r;anc"
q! guarding all charters wit' mmrh greater
:tiia-!' Iry III the future. Let il!, charter of
";rh provide that the entire liabilities Of the
bank shah, at II" time. exceed three do!lars for
every "nc "i specie actually in its vaults and
b""" PIT" th: property "i the bank. ON pain If
inc,ii!tc i"ririirlr. Let ,i,c simple fact Of
suspects" "i specie payment render the cliar
ter absolutely null and vo This would deter
5iicm ir"in engaging III s,.ch Will svccula,ivits
and "vcr.is>urs us q ,ip,l them 20 suspend i'll
case ri pressure. Let rl,v isi'n he iI.1 hat
Ill executions iss,:c.l against the corporation
may hc levied upon the property of any stock
holder until Tho creditor hc sal i-c'l, leaving
th% stakeholder to ',i' gal rcr,lls s.,;,i'.>;
tn" J., :: rf ,l,c >!urhhv!,i-r;5 TO enforce cun;r I
buttons ::mnnr Themselves.
l.r, the bills OF The banks in the hands Of the !
1'r"r!r ii the tiinc Of suspension, bear Inter
"s' from that tim: iii! paid. Aud lot the l.c.
stature re'a the right, by eN!'r,SS rcSrrva :
,I"u in the charter !" alter. m",!Itv "r repeal
it nj pleasure. In my opinion il would lc be-, I;
i"r the Legislature /" refuse to grant Il clal,v;
/" any corporation for any Irrp"sc whatever,
without retaining. similar power, SHOULD lis
cHclcisc be required by the interests "f il,:
state or the ruhiic good. If the CORPORATION
Is unwilling to trust the l'c"pie with this rc.
lr;,l:nG power, how Iuucl iuu!r should the lro.
PIC te unwilling to trust the coi'oraiipn with
t.ut IT,