The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1875-09-02

from its assets. Referring to the State
deposits in this bank at the time of its
failure, the Governor said that if he had
been as wise before as after the event, he
should have tried to reduce the amount
of the State deposits, but he now believed
that any effort to draw out the State de-
posits at an earlier day would simply
have hastened the failure of the bank.
In regard to his own action, he said:
"When I became Governor, one of the
first and most unpleasant duties imposed
upon me was that of providing other de
positories than this bank for the public
moneys. Mr.. Solomon's bank had been
the sole depository during the whole term
of Governor Moses administration and
I think during the last term of Governor
SCOTS, and had had deposits amounting
at times to one million of dollars. Still
I felt that such course was not safe.
Mr.. Cardozo heartily sustained me, while
Judge Hoge, then Comptroller General,
and almost or quite every leading Repub-
lican in the State, warmly opposed my
plan of appointing additional places of
deposit. 1t must be remembered that
this bank was very powerful with -
party and in the Legislature. In discus
sing the subject with Mr.. Solomon and
the friends of the bank, I invariably said
that did not discredit the bank, but |
did insist that its capital and standing
did not warrant its having more than a
part of the State deposits, say 100000,
and that I was willing, in view of the
strong sentiments of the friends of the
bank, to allow this amount of deposit to
remain in this bank longer than the de-
posts in other banks, as the money was
drawn out tor public use, but that the
rest ought to be distributed among other
banks. This course was adopted, and
my action was aimed at keeping the de-
posits as low as 100000. At times they
were more and at times less, but did not, :.
I believe, vary greatly during the winter
from that amount. In the month of
April, after Mr.. Dunn became .Comptrol-
ler General, I called meeting of the
board of deposit, informing the other
members that 1 wished it determined
how large an amount of deposits and for
how long should be placed in the differ
ent banks. 1 explained to Mr.. Dunn,
the Comptroller General, my course to-
wards this bank and my reasons, and
that I especially wished his advice in
settling the question then pending. The
amount of deposits in the Bank and Trust
Company (the Solomon Bank was then
about 100000, the amount having been
reduced below the usual figures The
board voted to fix the amount in that
bank at 100000, and to allow it to re-
main until needed for the July payments.
This action was in accordance with all
my previous action, and was based upon
the same reasons and considerations.
Nothing had occurred in the meantime
to give any hint of any increased weak
ness of the bank; and its standing in the
community was then, venture to assert,
as high as ever. No change took place
in the affairs of the bank, to my knowl-
edge, from this time till its failure. l
did perceive, late in June, that Mr.. Solo
mon seemed embarrassed in raising the
amount which he was notified would be
needed on July l, but he gave no sign
that it was more than temporary en-
barrassment, and l left the State with no
idea of his suspension or failure. 1 GER
tainly sought to do my full duty by the
State in this matter, and that, too, at
great political expense to myself, as was
well known by all who were in Columbia
last winter. I was not all-wise or all
powerful. I did not forescc all that has
come to pass. If others were wiser than
1, have no need to quarrel with them.
l did all that thought was my duty, and
stood ready to do that at all times. The
result has been unfortunate in the ex-
treme, and, perhaps, no one man has SO
much cause to regret it as l have, but |
do not rcproach myself with any neglect
or fault, so far as l can now see. If the
result shall be to make it easier hereafter
to Danish all political and personal con-
siderations from the determination of
such questions, perhaps the gain will
equal the present loss"
POLITICS AND PARTIES IN THE STATE.
The conversation turned upon the po-
litical situation of affairs in the State, and
the, Governor expressed the hope that the
cause of good government was making
substantial progress in the State. He
said he did not fear that any combina-
tions aiming to restore the misrule of the
last two years, would succeed. He relied
on the support of all the Thinking Repub-
licans, who must now be satisfied that re-
form was the only good policy, to take no
higher view of it. Speaking of the Con-
servatives and their relations to him, he
said: "I have never failed to give full
credit to the Conservatives, and to .lc
Conservative press of the State, for ,l.,..
very hearty support of my course. They
have shown the best of spirit and have
rendered effective and absolutely indis-
pensable aid. 1 believe they will contin
ue to do so. There are carpers, malcon-
tents, reactionary politicians among the
Conservatives and Conservative press,
who seem to think it wise to seek to dis
credit me and my work, but / am salts
fled their influence is limited as their
number is small There are dozens of
letters lying on this table from the best
and most trusted men Of this State depre-
eating such course, and assuring me OF
their ardent and constant support. At
any rate their course will not affect me.
i'll had been man to take my public
course from a desire to punish my enc
mics you know no man ever had greater
temptation TO such course than had
the day took my scat as Governor. But
the man does not live who ever heard me
utter an unkind word towards those who
opposed me most bitterly in the political
campaign. 1 bent all my efforts towards
doing what had promised to do and |