The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1868-12-17
THE BANK OF THE STATE.
A CARD.

To THE PUBLIC.-Ihe recommen-
dation of the Governor in his late mes
sage, that steps be taken 'to prevent
the courts and officers of the Bank of the
State from wasting and mi<applying its
assets" and the belief expressed, that
not less than 100000 in gold has been
squandercd and made way wilh for sala-
ries of officers and agents, fees of at.
torneys employed to bring the credit of
the State Into disrepute, and other OBJ
jccts of equally questionable propricty,
calls for some notice on the part OF the
bank, and in the absence of the Presl-
dent, deem it my duty to lay the facts
before the public.
The contingent expense account OF
the bank has been regularly furnished
to the Legislature since 1865, the pres
ent session iucluded, and convenient as
the statements were for reference on
the records at Columbia, it was reas-
enable to supp'sa that the Governor
would have referred to them for his
facts and figures. These statements
show that from 1865 to the close OF the
last fiscal year, 3lst October. u period
covering over three years, the total
amount expended was s54 ,SOS, and this
in currency The accounts itcmlzed,
and showing what amount for salaries,
what for incidental expenses, &c., IN.
clu,l;ng the agency at Columbia, estao-
li>hed uuder the Act of 1868 charged
with the and disbursement of the pub
lie funds, at an x?ensc properly charge
able upon the Treasury.
To this add s., $50, advanced fees,
in the defence thrown upon tic bank
by the suit of Dabncy Morgan u Go +,
(approvcl by the proper offer Of the
Court aud expenses Incurred IN Other
minor cases, a f ! statcmen' OF which
has been furnished at an examlna IN
of the bank 'ty committee OF tire Leg,
islaturc, appointed in September, aid
We have sun total of less than S39,'
0C0 in currency, instead oSSjN.0OO III
gold, as sta ed in the Governors ms
SAFE. .... ..
The suit brought by Dabn"y. Nor
gan & Co., note holders, made the bank
with the Fire Loan creditors, deIend-
ents, and upon reference to the mas;er,
the bank felt authorized with his APP
prevail in muking the advance for eoun-
sci fees; and the lurthc: sum of 81 ,lOo,
Tincluding in the statement referred to
above, for expenses incurred for COM
plainant note ho!ers.
1t is to be observed that the bank
has in no case instituted legal proceed
ings, but has been drawn into legal
process upon suit Instituted by others.
So far from desiring to pro,ract litl-
Cation, we have on sttc contrary de.
sired. an early and equitable disposition
of the funds cnjoined in our hands.
Until very lately there has been no
action on the part Of the Legislature
10 cose the operations of the bank. Our
officers were held under sanction of each
successive Legislature, including the
present, up to the passage of the Act of
September, 1868 The lumber Of Of
fccrs reduced to bet two, other than
the President, and all with greatly re-
duccd solarics, and the expenditures
otherwise have beea on the ecouo nj "a !
basis.
This explanation is due to the Fire
Loan creditors, char gcd with unwarran'
table litigation; to the court under which
we act, and to the officers of the bank.
THOS. R. WARlNG, Cashier.