The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-12-03
The Bank of the state-A Card.
Tb The Pubic

| To the Public:
Tho Recommendation OF the Governor in
his late message, that stops be taken Ito prevent the
| courts and officers Of the Bank OF the State from
wasting and misapplying its assets" and the belief
expressed that not less than SSO. 900 in gold has
been sluandered a1d mado way with Tor salaries o.
officers and agents, fees OF attorneys employed TO
bring the credit of the state into disreputt, and
other objects Of equally questionable propriety,'
calls tor somc notice on the part Of the bank,
and in the absence of the President deem it my
| duty 10 lay tho facts before tho public.
The contingent expense account of The bank Las
bccn regularly furnished to each Legislature since
1866 the present session included, and convenient
as thes, statements were for reference on the re-
cords ut Columbia. it reasonable to suppose that
the Governor would have referred to thom for his
facts and figures. These statements show that from
1865 to The close Of the last fiscal year. 31st October
period covering three years, the total amount
expended was S34 S08, and this Ill currency. Ihe
accc UNITS itenizcd, and slowing what amount for
salaries what for incidental expenses, &c, including
The agency at Columbia established under tho uct OF
1867 charged with the keeping and disbursement of
the rubHc funds, at an expense properly charsablc
| upon the Treasury.
10 this add $3.50 advanced for counsel fees in The
defence thrown uion TIC bank By the sait Of Dab
ney, Morgan q Co. (approved by tho proper otfi:cr
of the COURT anu expenses Incurred in other minor
cases, full statement of which has been furnished
at Oh examination Of the bank by committee of the
Legislature, appointed in September a.d We have
sum total OF less than S39, 900 III currecy. Instead
OF SCI 900 in god as s.,tel in the GoveraIrs me-:
SAGE.
Tho suit brought ty Dabacy. Morgan L Co.. note
toides made the NIX with tie Fire l. al creditors,
defendants, and upon reference to the master The
bank felt authoriz twitl hls appgoval in making
the advances for counsel fees, the further sum
| of sllOO Guc,udcd in tile st.emcnt referred -
aboye) for expenses inc Ir.el for complain Int jc
holderi>
EsIt is 10 TO observed that the bank has IL 10 cas,
instituted legal proceedings, Out has been dra%a
into the courts by legal proc ss upon sui; ias s;u!ed
by others.
So far from 1csiTin; to rrot'uc tiIa!ion. NC have
on the cntrary desired an carry aud equitable d.
position of the fuads enj 1incl in our nlnls.
Cntil very lat ly there has been no action on tho
par of the gsnture to close the operations OF Inc
bank. Our Offices were b Id undrr sanction OF each
success i've Legislature, including the present, up to
the passage of tho act of scptcmbc" 1868. The NUM-
Dor of officers reduced TO but two. Other than the
President and all with greltly reduced salaries, and
the expenditures otherwise have boon on the most
economical basis.
This explanation is due to the Fire Loan creditors
charged with uuwarranta5lc litigation; 10 thu court
under which VIC act and to the officers of the bank.
THOS. r. WARING, Cashier.