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From thf South Carolinian. REPORT. Of the the President of the Bank of the *- - V.i! -f CI ?laic, ill rvpiy iu >i rtwuiuutm ui ouiiate, of Zteccmber 5, 1840. Columbia, December 7, 1849. 7\> (lie 7/onoinble the Senate and IIouso of Representatives: I transmit herewith, for the information of the Legislature; copios of my two letters, of 3d and 5th May last, addressed to Joshua Bates, esq., called for by the resolution of the 6th inst-. In laying these letters before the two Houses it is proper that I should remark that the first was a private letter, and that tjoth were written in reply to the requests contained in the letters of Messrs. Baring, Brothci3?fc Co.. of the 13th April, published in the annual report of tne Bank for this year. The president and direc tors of the bank were, by virtue ot the | act of Legislature of June, 1838, made j trustees to protect the rights, not only of j the State, hut of tlio.se creditors of the ! .State who had loaned their money under ! its sanctions and pledges; and when one j of the parties asked for information to en able him to place his case respectfully before the proper tribunals, I did not feel myself authori/.od towithold what he had so clear a right to expect. The letter of Messrs. Daring, Brothers it Ce, indicated also a total misconception of our political system, when they intimated a determination to appeal 10 the courts of the country to prevent what they termed the 'sacrifice' of their security. It was, certainly, my duty to explain to them that such a proceeding was not open to them, and that their only course was to lay before the people of South Carolina, through their Governor and their Legislature, the views enter tained by the other contracting party of the nature and extent of the contract they had made with them through their agent, Covernor McDuftie, and to appeal to their sense of justioo and honor for the preservation of their rights. These letters formed no part ot the nc- | gotiation for carrying out the resolutions , of December, 1847, and were not, there- I fore, submitted with the correspondence ! exhibiting the progress and state of that transaction. AH of which is respectfully submitted, F. II. Ei.mork, President. cnari.E8TON, 3d May, 1849. To Joshua Bates, esq. Siu: In my letter of yesterday I omitted, purposely, any reply to that part of the letter of J/essrs. Baring, Brothers & Co., in which they ask me to ^ive von my views and advice as to what I understand to refer to the course that should bo adopted on your sid& in regard lo the threatened withdrawal of the bank, as security for these bonds. I omitted if, because, pertaining to your course in :? ,i:,i aiiutuui ui ii'.u umuiton, it uni inn, belong necessarily, to the negotiation, which is our object, and I, therefore, preferred it should be kept separate; and this course is the most advisable in consequence of the hostility existing in regard to the bank, and which would look on any suggestion, 'rom me to you. with n fcoling that would do injury to your interests. Messrs. 13anng, Brothers & Co. attach much value to the security of the ban-i on these bonds, and, of course, that the bank shall continue in its present shape, with a charter, until the debt is Unpaid or redeemed. They ask me to give you my views and advice, which I understand to refer to those measures which you shculd adopt to prevent the security being impaired or withdrawn. I have seen no reasons to change my opinions in my letter of 15th January last, and I give it as my opinion that the ivVinlrt raiitffM" sVtrmlr! Tin Virrmrrlit tr? flirt .. ^ view of our Governor, Whitemarsh B. Seabrook, that he might bring it before the Legislature and the public. While I see no reasons to ch&n ge my opinions, there are one or two suggestions, in case you adopt this course, I would make as to the manner of its accomplishment. Our people are right minded, and are honestly disposed to fulfil every engage mcntof the State with fidelity and to the letter. If well informed as to their obligations and duty, they nre not easily led astray; but thev are jealous of everything that looks like foreign interference or influence, and there a re those amongst us who have talent and ambition, and who have staked themselves on tho issue against you and the bank, and that they will not fail to lay hold of everything that may enlist reason or prejudice in their warfare. In preparing any proceeding for our Governor, you should bear this in mind, and avoid everything that would involve more than is necessary to your ease; but you should not weaken your ease for this; indeed, nny other than u frank course might., aa it might suggest the idea tliat you omitted to favor us. Our Governor ha high mindea nnd honorable man, sensitive to everything that would tarnish the character of the State, and at the same time as jealous of any appearance of foreign interference or influence. My idea of the course is this: A clear dtntamtmt of th? ensn. embracing the no. gotiatton, the act of our Legislature, ;uid j tHc agreement, should be submitted to at least two of the most eminet lawyers of I nrtiintriou nnn In onnh fnr I "Ill Iff.JR-Ul.V ... J their opinions on tho character of the transaction, the scope and bearing of the act, (June, 1838) and the obligation of that contract. These, when obtained, should be respectfully submitted to our Governor, accompanied by a lcMor, stating that the action has caused nnxicty, wlmt wmilil J>i> ilm nf Ilw measure indicated, or of nnv of equivalent character, to depreciate the bonds, and expressing your hope that no action of the of the State will be taken, which will impair the confidence, or security i f these bonds, without the consent of the hold- j CIS. In regard to (ho control whoso opinions would be most relied on, I would ruggest the Hon. James L. /'etigru, of Charleston, for the one in the United States, whose opinion would be most intluential. Ho was, for many years, At-J torney General, and stands, without dispute, at the head of the. bar of the 6'uite ?is eminent for legal know ledge and integrity, and enjoys a higher legal confidence in South C'arolinu than nny other man 1 could designate. If you should propose "another American, and desire Mr. Webster, is opinion would doubtless carry more weight than any other lawyer's out of our State. i>-.* i -ii. _r x 1 i.i i mil uoiii oi tuusc wuuiu iuhmj yuiu case incomplete, without an opinion from oOmc eminent English lawyer, which would show ihc view3 entertained where the trim action was made, and where the character and credit of the State would bo most affected. Unless some such coin-seas this is ad op ted to inform the public of the true state of the ease, the probabilities are not weak or remote, that the construction of tbe contract, as you understand and insist on it, and as you consider important to tbcvrlucof the bonds, (Letter of 13th April last,) will be construed away and disregarded. Those who oppose the iccharter of the bank, say, that there is no obligation to re charter it, because, 1st. Yovi had the charter before you when you took the loan, and saw that it expired in 1856fjfmd although they admit that wo, a party, ha ve it in our power to continue the bank until the bonds lire paid, that we did not stipulate to do so. 2nd. That even if such is the contract, the Legislature of 1838 had no right nor power to bind its successors. 3d. That all tho Legislature pledged wore the 'iiinds' of the bank, and if these are still preserved for you, you have no right to complain. And 4th. That the <S'tate is good for ?..,i i ,,i uiu luuiiuj ; auu uuv a nut uiiiuu iv) kill 111 paying. Very respectfully, your obedient servant. F, II. Elmore. Bank of the State ok South Caromna. Charleston, May 5, 1810. Joshua Bates, esq. Sir: There is one observation in the letters of Messrs. Baring, Brothers it Co., of the 30th April, which it may not be amiss to discuss. Speaking of t he value put on the security of the hank to the fire loan bonds, while they entertain no distrust of the will or ability o. the State to pay, they add, 'We could not be justified in abandoning a security given solemnly by contract to the bond holders, unless an equivalent could be offered to, ar.d accepted by them?we should feel it a duty to offer every opposition which the laws of the State, or the constitution of the federal government, permit, to the sacrifice of such a security for the bonds now in circulation.' The security is the bank, and if it is not rechartered, that expires with the charter, in 1850, two years before the first, and twelve years before the last of your bonds fall due. The security is the bank and its profits. If it. is lint. wc.lmrfnroH tlioro i>j rin Vtnnlr and no profits. 7'he idea of your respected firm seems to be, that this 'sacrifice' may be successfully opposed in the courts of the /State or of the United States. If that is the idea, it is altogether an error. No court can make the State a party ?no decree can rcac her?and she is not amenable to any tribunals but her own legislature, aim ine puonc opinion of the people. To attempt, therefore, any measure of redress, in or through a court, either of the State or the United States, would end in a failure, and only serve to irritate and prejudice the State against you. A ? -11. il - ? - - 1 1 -/ il vvnu nere me nature ana vuiue 01 uus security may be considered. ri'he value of the security is measured not only l?y the extent of the fund pledges, but by its nature, illustrated in the fact, that while you could not sue a ?S'tate in criso of default, you would have a perfect right to *1... 1 1. 1 .. __ _!.? . P_.l_ ouu biiu i;.lilH, UI1U, U|?UI1 OUUtlllJIIfJ JUUgtJmcnt, to enforco it by execution. Now, if the SU\la withdraws the bank, you have lost this remedy?and that yon and Gen. 3/eDuflie canvassed, and gave fujl weight to these considerations, ho hears witness, in reply to certain inquiries which I addressed to him in November. 1843, which you will find in the volume J. send herewith, at page 573. The true courso appear* to me is tho one I indicated heretofore?the case appears to me to he one of ploin obligation on the j)i? t of the state, and if insisted on by tho cdher party in the contract, cannot be disregarded. It is very true, flu cont"ud?l by some amongst Us, that whenyoi made that contract >vlth Gen. MePunlJ,you knew the charter of the bank wotilil expire 111 ioou, iwo years oe, fore thopHBt. and twelve years before ( tlie last re-piyment of the loan. But is also seen by tlie fire loan act, that the bank and its profits were pledged until ' 18(58, and vou knew that those >>'110 made that pledge were fully authorized to extend tlie chatter and make the sccu' rity good in form, as they offered it in ' substance, by extruding the charter. And when they authorized the offer, and Gen. MeDuffie appeared us their agent in T oii/lim with fhk nc.f. in liis hnnd. niul the commission of the $tatc, undor its broad seal, yon wt-re fully justified in making a contract tascd on the under standing and faith ol a Z^tate, that the bank would be coulil be continued, and its capital and profit.^ held solemnly bound for the loan until itj final redemption in 1808. Having full powei and ability to make good all the Legislature offered in the fire loan net, and all thkt the agent of the ?$'tnte, Gen, jWeDume, bound her for in the contract, there is no excuse forrcfu; sing to do so, if you insist upon it. That you may hfivc all the documents which Ave have published before you, and sco iii what manner this point has been , treated before our Legislature, I send t you a copy of onr bank compilation. The tire loan act is at page 40, and special icports at pages 5G5, 0, and 051. Very respectfully, your ob't. servant. F. H. Elmore, "NINE CHEERS FOR OLD ZIM.l" OK DllKAKIXO DOWN THE SYSTEM. Tn a remote county of Pennsylvania the scene is laid. The time was the year 1842, when party spirit rose to 102 deg. in the shade in every hamlet the length ! and breadth of Uncle Sam's glorious do: main. The respective political parties met in c avention at Bugsburg (the coun| ty seal,, and made their nominations for countv nflicers. As there were many as pirants for the few nominations, it follows as a matter of course that there were I some bitter disappointments?to no one more so than to 'old Zim,' who was confident of getting a nomination for Sheriff. Zimmerman, or 'old Zim,' as he was familliarly called, was a miserly old codger, ...i.^ 11 i.1n.~ I.I wiiu was wen in iiu in uiu wunu, yui hu had an almighty thirst for oftiee, and he was tip at overy convention for a nomination for something, from 'time whereof the memory of man runnoth not. fo t.ho contrary." lie " as reputed wealthy?that is, he owned i farm, and had money, but he never showed the color of it, except he unfortunately got on a spree, then he ' would sow it broadcast?but that was i only a biennial occurrcnce. j A few evenings after (lie nominations i above named a knot of th^ dissatisfied and dissatfocted were congregated at the Blackhorse Tavern, discussing the merits and demerits of the fortunate nominees. 'GentlewH,' said old Zim, 'merit and long service to the party is no recommendation in this county. The wire-workers , and schemers have it all their own way.1 'Av,' responded one of the bar-room ! loafers, 'they does the pickiri' out and i they expects us to do the wotin,' i 'But. L'entlewHcontinued Zim. 'thev I' o 7 ' " J willvfetch up against a snag or a sawyer I one of these days. Yes, gentlemen, by the eternal, I'll upset their applecart and spill all their peaches. I'll see whether | it's (he people, or a set of broken down ! St.IP.nl 1\ ?<?1*"Q nc mol/AC tlir* nAnn#\r r?rv*v?5_ I ..v"... nations. ]5y Judas, I'll break down tbc system?I'll run as a volunteer candidate for sheriff, and if I don't lay 'em out, then my namcaint Zimmerman, that's all.' This determination was received with favor by the crowd, and Zim sealed it by spending a 'half' for red-eye. Kill i u':k m timiaiin i ced through a card in both papers to his , fellow citizens, pledging himself to dis ! charge the duties of tho office with impar! tiality?in ease he wan elected. Right lustily did old Zim go to work and things appeared to go on swimmingly. Ho canvassed the county, and the people wore profuse in their promises o1 doing their best for him. In one of hit peregrinations lie met Wattles, the nominee of Zim's party, who was also on an electioneering tour, 'IIn! Wattles,' said he, 'my fine fcllew, I'm sorry to see you nllow yourself to bf the tool of the unholy and corrupt caba' ?I say I am sorry ' sec you sacrificed, but you're bound to be beat. I'll s'\ow them that the freemen of this county will not hear dictation; so, my friend, if von J! i vtioii i\J trnvv j uuinuu ii will nm ulsj^iuct j of a defeat, you had better resign in mj favor.' Wattles expressed his conviction thai he should feel very much used up in sucfr nn event, but at the snmo tim? Ik? had made, up bis mind to stand the hazard o1 the die, flection day at length came, and my worthy friend, arm^d with u hat full ol tickets, stationed himself on the ground j of his own preobct, and commenced denl' ing out his tickets, and urging his claim? ( in the strongest kind of a way: miser as he I waii, ho made hi? friends swinj in Monon 'IT"I . * JL1 1 I U.J LLLL.1j galicla long before the polls were closed. The election over, evening enrne on apace, and tho eager expectants gathered in tho bar-rooms to await the counting of the votes, and the returns to come in from the different townships. Old Zim was flourishing about, treating the crowd, ex' pressing his full confidence in the people "?"l #tw? L'HAnaeo r?f liic nfljM't 4 f\ 'lii-finL down the system.' Seated in a remote corner were a number of wags, in low but earnest conversation, nnd nny onr> who i?5gM U.iv?? clmn. ced to see them would at onco have concluded that something was to follow. The consultation saon broke up, and . ic plot began in about fifteen minutes to tievelope itself. The clatter of a horse's hoofs were heard on the frozen ground?a solitary horseman rode up to the door, and flinging the reins over a post, rushed into the bar-room, where lie was soon raised on a table, and silence commanded. 'Here,' said he, drawing a strip of paper from his pocket, 'are the returns from Lower Buffalo township?"Wattles 50, 3/acgregor <10, Zimmerman 100!? majority ior Aimmcrman, nu: 'Nine cheers for old Zim!' 'Huzza! huzza! huzza!' G'entlemtfw,' said old Zim, taking oft' his hat?'I'm obliged to you for this exprescinn itahv??flinf ic ta cfiv Inf. ik tnl-o // o.v/w J iv, ""J ? *v/" ' " " ^orn all round.' Of course the crowd acquiesced in this proposition, and (he wclKin rang with loud huzzas. But hark!?scarcely had the eager crowd imbided before another horseman came galloping up to the inn. 'Beegum township one hundred ma jonty for Zimmerman! 'I^ine chccrsfor old Zim!' 'Hip, hip, hurrah!' Again did old Zim attempt to speak, but his feelings overcame him?and he ended by inviting the company to just call for whatever they wanted. Again the glasses jingled as the excited multitude wedged themselves towards the bar ?and again was heard the clatter of a horse's hoofs. 'Dublin township, one hundred and thirty majority for Zimmerman!' 'Nine racers for old Zim!' 'Hip, hip, hurrah! The excited candidate was wild with joy and excitement, and lie again invited the party up to drink. Another horseman came!?another and still another?each one bringing an overwhelming majority for old Zim from the township he represented. Alas! that it should he the same horse, "who performed the feat of a quarter race every hour that night, and that it should be the same mad wag under various disguises that brought old Zim the glorious news. The column, as footed up, gave Zim a cool thousand majority. Didn't he rave and pitch? Well, he did! Didn't he spend n cool thirty??the landlord's till groaned under the weight of old Zim't deposites. 'GentlewNVJ,' said old Zim, 'my heart is full [his head wasn't anything else,] and J can only say that the glory of this contesl belongs: 10 you; but I foci a [brick in youi hat, said a wag,J pride that I have beer the humble instrument of Jreading dowi . the system.' | Nine cheers.] Thus matters progressed until those who were completely 'sowed up' wer< laid out, and the remainder found tlieii way home?some charitable friends o: . the (Sheriff elect toting him on a shutter t< . his domicile. Early in the morning, the village wags with throbbing temples, met at the taven . to take 'a hair from the dog that bit them, ( as well as to laugh over the 'saw' played on old Zim; but scarcely had they com , menced worship before in stalks the ok! | gentleman, still under the delusion thai he had carried the day?nay more, he insisted on spending a V by way of a morn | ing whet. The wags were determined r to keep it up as long ns possible, and a gain drank and congratulated him on hi; success. In the midst of the 'noise ant i confusion,' in bounded an inky printer's devil, who deposited an extra on the ta hie, containing the return. Eagerly die old Zim seize it and hover over it but i minittn Thn nnn^lncinn nf it Sc .ill onAl ' cicnt for the reader. It rend as follows 'By the above it will be seen that Dcm p ocracy has ugain triumphhd, as Wattles j (Deni.) majority over 7'ibbets (Whig) ii one hundred and fifty. Zimmerman, vol . untecr, had three votes in Bcccrum. tw< in Dublin, one in the Lower Buffalo, an< ono in this borough, (supposed to bo ens by himself,) making ft totnl of sevoi votes.' The extra dropped from Zitn's hand lie raised up his hands, moved toward: the door, then looking around full at thi i gnP>n? crowd, and rolling from the bar , room, lie was never again neara ot 11 \ Bugsburg.?Spirit of the Times, C1T I o^ ? ^ F. N. Garvin having applied to me fo 1 letters jo Administration on the Estate o ' Eli Fitzgerald, late of Pickens Dis f trict deceased. The Kindred and Cred tors fire cited to annear before mo o: ' the 24th instant, to show cause if an f they can, why said Administration shoul ' not be granted. Given under my hand r.nd seal 1 Oth da 1 of December, 1840. 1 W. D. STEELE, o.pd 2 ins. S OM E T HI NGN EW IB a.^ m. m irm m. v* m. irnm ? ? a A'l" Bachelor's Retreat. I am now opening at this place a hand I some assortmeut of Fall and Winter i Goods, consisting in part of C'oths, Cassimero, Tweeds (all wool) Kentucky jeans, a fine assortment of late 'yle Yeatings. I A m ?at variotv of winf.i>r .rnrirlAu?I..nfli?-1 I o j -- ? I went*. Fancy Prints, of jSHBMHiew ' patterns, at. 5 cents per i11 warus. Muslins, oumui iw, mBgiionfi, 1 A large assortment of well selected Shawls, Blankets, Shirtings, Hats, Caps, Bonnets, Boots, Shoes, Saddles, Bridles, Crockery, Hardware, Medicines, Sugar. Coll'ee, Salt, Nails, Bugging. Rope and i wine; as wen as un omer arueies usually kept in a country store, nil of which I will dispose of on the best terms. I will always be pleased to shew my Goods to those who favor me with a call, free of charge. L W.J. NEVILL, Hachelor's Retreat, 8. C. l No . 3d 1849 tf I it v nr"nnv 1 Tn ?r wotvtt "1 | >. r, i aivui .j | n. xti. nn.ua, | PERRY &j KEITH, AttoriBcyg at I^aw. Will Practice in the Courts of Law and Eruity for Pickens District. Okhce, Pickens C. II., 8. C. October 1, 18m t2f2 1 _JAMES V. TRIMMllBR, ATTORNEY AT LAW, SPARTANBURG, C. H., S. C. Wii.i. practice in the Courts of Union, Spartanburg and Greenville. All business committed to his care will rccoivo prompt and faithful attention. rbfe&enoes: IIo\. D. Watxack, Union, S. C. T. O. P, Vernon, c. f. s. d., Spartanburg, S. C May 18, 1849 1?tf Dr. J. IV. Lawrcncc. Will attend punctually to nil calls in . the line of his profession. Unless absent on professional business, he may be found at his Oflice, or his private rosidence in the Village. He nlso, hns on hand a i general ^assortment of medicines which I he will furnish to customers at reduced | prices. 1 Pickens C. H? S. 0. ) May 18,1849. ) 1. U ImT Tenders his Professional Ser /ices to the citizens of Pickens Village and the . District. He can always bo found at his , Ofhcc, or at the residence of Maj. W. L. ; Keith, unless professionally engaged. I He hns received a fresh assortment of [ Drugs and Medicines, which he will sell i low. Pickens C. II., July 28, 1849. 11 SOUTH CAROLINA. 5 in the commom pleas P TOKENS MS TRICT. t Henry Whitmire, ) Dcc. in Attachment r vs. > E. M. Keith \ John Bishop. ) Pl'ffs Att'y. 1 The Plaintiff having this day fded his declaration in my office, and the defcnd5 ant having neither wife nor attorney ' known to he in this State,?On motion; '' It is ordered, that the defendant do apf pear, and plead or demur to the said de > claration, within a year and a day from j this date, or Judgment will be entered by > I default. i \V. L. KEITII, c. c. p. ' | Clerk's Office, ) I May 10,1849. J 1 i! Tin: L Pickens Jlcademy. APPLICATIONS will be received by I the Board of Trusiees until the first Mon" day in December next, for a competent 4 Teacher to take charge of the Academy 1 at this Village. At that time a selection 5 will be made; undoubted credentials will " be required. 1 E. M. KEITH, Sec'ry aiul Tres. 1 Board of Trui. ' Pickens, C. H., S. C., Oct. 27, 1840. tf. ; Letters. Remaining in the Post Office Rt Pickens 0, * II., Quarter ending 80th Sept., 1849, which i " not taken out within three months will bo sen ? to the Post-Office Department as dead letters George Barnes Joel Moody t Wm. Bootho Jolm Owens 1 James Baron Fostor Perry James Cannon Sarah Ann Hankion . John Couch John Rcid ' Gen. J. W. Cnntev R. O. Reirister 8 Daguerrean Artist Vrm. Rowland D Garner Evans Aaron Roberson - Wm. A. Edwards Committee of Safety 1 Har<Iv J. Fennel James R. Smith Ir/t. ii, OiuabriU Mnttlww Viokrv Wnj. Howard Jamos Jcbbc Jones Robt. WilsnraU^^ 0. OJ. M'Gregor Samuel Wilson *1 Dr. R. Maxwell John B. Young f P. ALEXANDER, P. M, l- Oc. 6, 1810. n ??T1C?!. y All Persons having demand:* against i the Estate of Sheriff Hayn?f, deceased, will hand them in leg*Hy atkeated TJbos? y junta b ted must maagaeyrnent; . .tfli STEELE, Noa. 17th , A: Adm'r,