The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1875-09-23
Cnu.MR1A. Scntcmher Is. 1875

Hon. T. c. Dam, Receirer Of the South Caro-
lima Bunk md Trust Company:
SER-I have the honor to acknowledge the
receipt of your communication OF this date,
in Which you state that latter careful rcficc-
ton, l do not recognize your official duty as
Treasurer of South Carolina, or your per-
sonal right Us O creditor of the bank, to
make the investigation you propose"
You certainly are we'll aware, or should be,
that have not clnimcd in my communica-
ton any personal right Us creditor of the
bank to make an investigation of it's condi-
ton, but based the claim distinctly upon
my official relation as Treasurer of South
Carolina. The account of the bank with
the State stands in my name as treasurer OF
South Carolina.
have had three separate conversations
with you on the subject of the failure of the
South Carolina bank and trust company.
In the first of these, held in your office on
the 9th inst, you stated to me distinctly that
you deemed it your duty simply to collect
the assets of the bank and report them to
the court then asked you if you did not
intend to make an investigation into the
causes of the failure of the bank, and pub
lie statement for the benefit of the creditors.
You replied that you did not intend to make
any public statement, except your report to
the court, which would bc simply state
mcnt of the assets and liabilities and your
collections of the assets, but that you in
tended to make an investigation into the
causes of the failure for your own private in
formation.
The next conversation was held at the
meeting of the board of state deposits in the
office of his Excellency the Governor, on the
11th instant, in which you stated that you
had fully made up your mind what your
duty was in the premises. At that meeting
of the board expressed my opinion of the
causes of the failure of that bank. l stated
that believed that it was either deliberate
robbery of the State or the most criminal
folly, and that was determined to make all
investigation, if possible; and that, If my
opinion. should be confirmed by the facts, l
should Immediately take such legal proceed
ings as may be necessary to protect the IN
tcrcst of the State. You stated that you
would not permit me to make an inyestlga-
ton Of the bank, but that you thought that
the board might ask for any information 1t
wanted and you would furnish it. At the
subsequent meeting of the board, on the 1htll
instant, Offered resolution calling upon
YOU for certain information. In the mean-
time wrote you Il letter. requesting TO be
allowed to investigate the condition Of the
bank, to which you lave made tie reply
that now lies before HE, i'll which you state
that you have Il larger apprehension otyour
duties than | seem to entertain. am very
much pleased to hear it, and congratulate
you upon the expansion of your views on
the subject since our conversation of the 9th
instant.
1t is perfectly immateral to me through
whom the information desire may come,
and it is only because you manifested IL
very eager desire to give rs little intorma-
ton us possible of what | believed to hc the
frauds perpctratcd against the State that l
felt compelled to make al investigation my
self to discover what suspected.
You are pleased to refer to personal ac-
count that the hank alleges to hold against
,rc, and inform me that am Il debtor. not
Il creditor of the bank. You know perfectly
we'll rs sail before, that did not ask to
examine into the condition of the bank rs Il
personal creditor, but in my official capacity.
Your reference therefore, To my persona!
relations with the bank is gratutolls and
impcrtinent. will inform you, however,
that question the claim of the bank OF
500 against me that you refer to, hut II,
after investigation, the claim Inc established,
] shall clccriully pay it. And now, since
YOU have been kind enough to remind me
of my private account with the bank, have
heard from reliable source that one OF
your chief objections to my investigation OF
the bank is tho fact that you were Il debtor
To the bank when it suspended III the sum
of 81 ,UOU. borrowed ut the time of your cleo
tinn by the legislature as c"mptr"llcr,gen-
crl for what purpose leave the public tn
infer Nor have any information that the
loan has since bccn paid.
will also inform ynu that il | were Il per-
Snnal creditor of the bank, wouhl E"t re-
u,c,t YOU To allow me to u:akc all inyrstlIa-