The independent press. (Abbeville C.H., S.C.) 1853-1860, 1858-06-25
f&ona the Charleston Nerc,ay]
The Banktof tho State Of South Carolin

The Bank OF tho State OF South Carolina.
Mr.. EdIor.+ nm reouested on IN, mart NJ
the Board of Efrectors Of this Bank, to reoues,
the publication Of the enclosed aNe''
CM FiJRMAN
Tod. p. Rsyse, Eso.. Senator.
The xtrnord mn q snactasIe ,,b;,t,:,..,,
cently presented. 81 ISen.for from Sa;,,n c. G
olina. yollnteeringt to ,ilnpuen indireetiv Nh.
Official conduct ofso portion Of his eon.fita.as,
and to. assail, State inatitution IN vh;ss H.
jutSrests and sresonrces Of the Sta,a an. s,t.
lnatelySinvolyed; m,st snecessarilv. attract At.
tention.s Id general: we IwonId pS,snit ,ttsei,
upon ussto pass for what thee aretvorsb Smut
The, ,P6sition you ocsupyy7sndstbes place which
yodsslectsd to give nttsfance 10 your oi5in.
ions III your expfessions in the Senate css be
termed Opinions; attach a degree Of factitioas
imfsortanse 10 them sndsthey therefore seem
Rtequire some notics;a tour han ds: We should
;Sestbe: :less; disposed 10 notice your remarks,
bad they beer drswn. .Syt IN rSply 70 an at.
ektmades6ns othSfes But you <'assailed the
EGhk thsf State Of South 9Carolina, when
your ecIfstit nsnts were madet subjects rath.
er Of COMMUNICATION than re. CHI. You ap.
Peared toadisslairn the commendation rather
You arerepresented, rs stating. from your
seat in the Senate tliet I'VE had Bank Of the
State ofSouth Carolina that has not shadow
Q: Responsibility attached to it." It, in ma
King This statement; you inteud to say that tho
naa Of the STATE oesng the property of the
'State, rs not rhaole to Legal process and cannot
be sued, you'baSe not the shadow of author
..y 70 sapPoit 5o@sopin'on. ltis as well es
tso!.ned az ene existence OF the Bank ltseif,
tnas It's as iiaole 10 SUIT rs my other bank or
corporation.
bul, II you a'ntended TO refer to the security
oh~e rarles VINO may hold The oo:igatlons OF
t9e IN BANK, your Posit'on,'s equally untenable.
to9 shoniu Know that the faith OF the State 10
Pleagea ior the s1nnk and itis With unmit-
* mIneat'on' .nat mere 10 not the SHADOW
;SiLespo9sio'l,ty S IN the pledged faith OF the
oN US grave maLter tnat hoio'ng
'promtgent and respon.ib!e position. you should
sPeak.n nentIy or heedie'ay IN matter, IN
Mnleh NE pleogso iaith ana important inter
e.eSandProPerty OF the State are involved
ana respecting winch you are so evidently un,
,hs eneI R ;.a nut you re,er TO the resources oi
oank ., Hsei'. independent OF, ana separate
from. the State pledge oEs,guarantee. your
cnarge is equally unsupported and untensoie.
ioNlustrate lhe gross assets OF the Bank
nvT e,ccee seven tniiiions OF dollars; the TO-
i llaoiities 10 tue pubic Tor its circulation,
IePos,'s. &c; &C.: are under $240o'ooo; so
Inat tne oahk holds assets beyond the sum ro'
iour .na nan millions OF dollars. These as
:eto are casn' ioshs 70 tue otute' STOCKS real e'
s. sse, .ose'gn hnu aoIesuc e1enange' oonds ana
nyi~ses, oa'snees que oY oanks: ana tue
noes 9. as mercnen!s' mecnsnics' planters, iarm.
sanu o.ner e.t!zens OF soutn Caroiinn: Ihas
u,ssSstega:e o:.u.qs, amounting 70 *I,ooo'Uuo
hen oy a9 insttat'on IN 'his State and IN this
s, sn3saa;.;e aaGSs .no sgaaow OF responsibility;
Pg!..on % '''oheIroue thae we nave oouotr
60 ,a u!lefance, aud we have withheld reply
an ':ee NE etPecta!lon Of seeing some prompt and
e1p.cs was a'scA,msr rom you. ..
nut we 60 Iuftnef: your position Is as ab-
sciuee,y ontenaDie, II you intended to refer to
sne teiation OF inc BANK 70 the State As its
:4le Proptle.oE when regarded in that point
Is., Iex, ne Ise!ls 10 equally favorable 70 It's
sl.asSEsJsu soa ~ Imanegement Inc s.ate
nGas ea'ns ana a. o'nerent perlods. funds
.,6nono" Ths.a .ae agg9seate 70 upwards o, o.
zsy0.3yyv. :hsse SUMS haye oeen actually re-
uuasa tsP,.nS,Pai ana interest. oy the
~ SsTs sTsr. e EaSs nas %aoe',% inter-
= si:o.denn.;tsas 49, the RsnS, .t Inc o.a.e
Inc nank tne surPlus revs'
-oSSieoo oiSo Th;a Inc ann nnteo leo Isa.es uPwsra'
r'eres,. cno nnn aa Inc ska!e also borrowed 81
g !Sgc%aa u.ueF ns sus % as. LOT leouhalns inc CITY
shssadsaE su, ~. AIS P,aee1 tne amount nnder
an 5tsa T..aI glEsne Pank. Inc interests OF this
.x5Shts;..s..ssif. ~ peiu ~ LUG oan1. T INC
pSs = .oIE E!lssealnehts Inc nrst
:hSs p iSaSe tn honooa on the hrst ofJuiy
81 Ind efar.th. ns, "ssau Piasea ..e iuna
When these funda srs annl;ed e e.Rant %ent ne,s
fi,sSn.s es1 .Ie a ppneo, '1e nank, with
III, E:sn rasn..a ma ~ anehey mace IN advance.
Sa0ssSa thss ssT, s.;i. ~ ~ iess snaa tl,zoo,
SS:,.h;s,.t. M stS. ss~ WI: DC 'ne entire amount
ss.vs s s9s HnS Ks"npe accountable " the
,Sa esg.si aae c.neT 'ondc placed under
esnssi ~. h dsS, IA pooc onn sun 'nmc'ent 70
tSsfund. asd by the B.Di 'ns momnsns 0a,snee t o,