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^ It is further objected by the H??n. pen'lem^^M nrgurrtdo, that our llstk is net it ;>1 liter's, chant's, or mechanic's Husk, hut a Director'.* id. ink. " lie has stated the li utilities < f the Directors untilteiitionnlly of course, hi about double the real truth of the case. It often happens that two or three Directors are i;i Iorsers lor the sunn ileht, , nnJ in this way the suppose*! liabilities arc doubled * huW tripled. It a!i ? is often the case that a Director is second or t'lird Imlorser, thereby incurring hut a very slight responsibility, obtaining no part | ..t4 ' i: i i...r . i..- . *?? munr\ , yvi ?i.iifIT|?rPSni.i;u ??vhmvh?i? body as a borrower, to mi erroneous amount. According t.? tiio best of my information, 11st* full indebtedness of tlio Presidents, Otlicors and i Directors of the Bink and its branches, is us lolw?s t In Charleston, .... $-00,000 In Columbia, . 1111,000 In Camden, .... 60,000 t ______ Aggregate, S3S1.0C0 Aru these debts unsafe 1 At e they not sufficiently secured ? The lion, gentleman does not pretend that they are even dnuAt/ut, but intimates that the Presidents, O.'lii'tsrs, in.I Directors ought not to have borrowed so mud) el the public money. Well, sir, let us see, g>od customers to u Ilank, whether for discount or.ieposit, it? certainly desirable. If these gentlenen secure their liabilities, then they are desirable customers?if they moke their deposits in the people's 15ank, then the people are benefitted. I lia?e bud occasion, in the discharge of my duty, as a Legislator, to en-?X<r*o int.. tiiese (Matter** a* t sfutrics has been t.Ktlatisl'y n>e conelusion iitu arise from a superfu u,.''.\jiuin.ition of the fact of indebtedness. A factor Director, makes advancements to his numerous class of planter customer*, who are, hi point of fact, the ooly debtors. Tie factor and his inuorscrs, opppiir in ti.e report! as tlie onlv borrowers from the Bank?but the punters get the money, and are the class principally benefitted? their r.eo, cotton and other produce n the possession of the factors, is the security t> the factors 1 and to the Bdtik. One Director niy then fore represent many plunters, and this vi w wipes out tho allegation of the gentleman, thu'tlio Bunk of ' the State is a Director's, instead of . planter's or ( farmer's Bank, I do not insinuatt thai tfie gentleman docs rot understand this m?d?: of operation. On the contrary, I give liiin .redit for understanding tho details much Letts titan myself, only lie thinks proper to leave this v -w out of the argument. Why 1 Let the gonieman or fiis friends answer if they choose. Well, sir, I shall have to pass on is briefly and rapidly as possible. In taking tho 1 a I, in reply, 1 feel that I may weary the Il<?use aid exhaust my physical powers. I admit that the linn, gentle man has, with admiruble t ict. Icarnii'J, and talent prfcsentcJ the argument in oppoaitioi to the Bank j of the State^nnd that I have accepted an Ilercu- | lian task in t'*U ing the lead in reply. 1 shall have j much moro t? say, nnd trust, I shall,>e considered prudent, in touching l'ghiiy upon many of the "points" of the gentleman's very ildo and well considered argument. I believe 1 have not said, that a fev years since. I had occasion to look into, ami ex.mine the costs of the Bank of the Slate in suluri<s, and found that in proportion to its capital, "tin B ink " w.\s the most cheap! v administered of anv in the State. Will the gentiemnn or any of his frends deny it 1 suppose not, unless 1 have been jreatly in cr ror. , Z . J. V yMf denunciations have been heaped "P' onithe Bank bjf its opponents?all ?>rls of nrgu* moots hove been submitted t?> the pcoti^ against it?all sorts of statements in referenf* to farts, ' fn-xsln by iha * J v^uiJbU4>^ anli'UiiUH measures, until plain people be^i.* to tl ink there - is no truth, even at tlvs bottom of the well. To *sk for the proof, is to bo met by n sneor. and angered bv UII maattrlinn that it i* "? (he very nature " of'lM rig 1, that t/ie J3unk should (< oorru^ii - >har . in ihort, tl,u Oihcerm anJ Directors can't avoid its <Mctcr\ous influence, if they were so disposed?( She macJiir^ry being too ponderous and complex, ' for their management and honest control, And these are the arguments by ^vhich, whetbmt fo^ good or fo? ?\\.-a great crisis is to be created?the policy of the atum.s.e J?->t? fund* 4 anJ hanging capital turned over into new, and perV haps irresponsible hands?the property of the peod!bf and the faith of the State, subject to risks nee, ?ss.'inly incurred, in the collection and re-invest* , ir^.tnet:t of these millions of money. But the plar * of the edifice to lie re-cons'meted on die ruins of our State Institution. What is it I The eenllernan has not lohl us, except in part, that part IS well calculated to w in the hearts of the debtors to the Bank ? for he proposes by law, to give them eight years to wind up their connexion with it? they paying annually one eighth of their indebtedness. n.il what is to he done with the money nj it conies in ? Pav o.T die nuhiie debt m mi enormous premium?or build u vault to deposit in, { at tiie certain loss of interest, until the public debt falls due, or deposit j.ir sale keeping with some of the private Hanks of tiieSia'o?or re-invest in the stocks of some other Bank 1 He has not told ns, and any horn of the dilemma seems to ine equally objectionable. This, sir, is a g'\ive question for tlie tnx payers of the .State, who are not party mad, and resolved on the destruction of the Bank. If we lock up the money, the loss of the interest will double the taxes?if we pay oiT the public debt at once, the j premium will double the tuxes?if we deposit tn some other Hank or rj-mvest the stocks, we take the ri->k of losing principal a..J interest both, and that would be ruin to the State. At all events, the proposed change i? pregnant with matters of the highest importance, und demands lae most rrtiiiimw Js; J J say again, tout lint people should be consulted, and have the oppoi lUtnty of rendering their verdict on the issue now presented to the House. 1 do not, I "dr. Speaker, by* :inv means, fee! and realize tin | ^'rn''a ' ^ tl,tJ :"'?funient sni-ir.ii'ed, in relation 'o the impoi'cy and danger of connecting the afl.nrs < of tlie B ink atul .State?she cry of "tint Hank n the Stale," is as unmeaning to my understanding, i a* WouM 1 " the rhaivo that my carr a,'u driver ( wa? my master, because 1 allowed him to drive me j about, currv my horse* aed Liark my shoes. Bv I virtue ef my !e;:a! ti^'.ta, i can at any lime dep.-.i: ! him, lie is uy agent, rny lave, tlie creature o( my I aiif?ra?co or cnuiio lor tiio particular ilu'y I ini- I pose upon iiirn. True, that having tVom ex,g ex- I perinnco, found linn taitlilui, honest and skilful, 1 value lbs services too highly to lend ? readv ear I to any alanJot* that may bo Jisseiniuated against | bin). j Such i*- the Dunk ef the 5.?f*.'c, to inn *>;afe :t elf the crcr.furo ol ill breath t?? l?uilci up or <!e-1 atroy?ns inpotcnf as a paralytic?whenever the 5>ta'e chouses to atrotch li rtli it* arm iigain*t ihi. , friendly A ly. and aervunl of the |>?M?pU\ am! ail ; \ tins servant oaks is that it should not l>.) denounced i and condemned as a criminal, without proof, and without wvcsitgatiop. ( But gentlemen, do not -teem to (iimriniirinfe j. in their Bunk cases with any thing like tiie as- j tutenesa, they do in l*\v ami idtpnly cases. The . Ifon. gentleman h.ts not noticed in liio- tirade, if I may so call if, the essential difference betwem u , aiifl i government. An, inadu v c a < 11 g, nf ilie r 11 gpce. a curse so , tiiat fiimii'Miiii rTT>ly, xvheti propci ly managed, a bles-iuj^^^Pm government and to the people of the Slate, City, Kepulilk; ' Kingdom or Elliptic, w iiere lliey huvo been es tablishcd. The Bank ol England is strictly a government' Bank uolw ilhstiinunig. llie capital is owned by' private stockluildeis. It is tlie great financial agent of the government? tint receiver and distributer of more than .X iOOUU.UUO of taxes and revenue. It is very true as tiie gentleman says, tliat the stockholders would be glad to cut loose from the government, so far as the permanent loan is concerned, amounting to fully .XI 1 000, 000. Biit would they !?' willing to give up the disbursement of .? 50.000,000 with all its pecuniary advantages, or would they be willing to resign their charter, and put the Bank in liquidation I 1 pcrsume there is not mi intelligent man on this side or tin* other of the Atlantic who would venture to nsswCr this question affirmatively. Aln-r all, it is not a question of prir?*^ ?> i vantage, or tht> private opini.m of interested individuals; hut liovv far the connexion of Banks and Stale is, or is not advantageous to vhe body of the people. 11 there he any truth in history, I am prepared to assert, that the Bank of England has been, the salvation yl the country, without which, it would long since have become Bankrupt, or have fallen under foreign domina lion, or been the prey and victim of restored barbarism. The Bank of France, like that of England, is strictly a government institution, though its capital c" i.. I i :. .i ... i ir ' i is imimii'jy uciuw h?iiic u.iiri rnrr urnvi'ni franrs ami pounds sterling. is much greater than the superficial reader is apt to realize. Yet 1 am prepared to assert, that w ith ail its misfortunes, errors, and partial failures?the Bank of France, has been the vorv hone and sinew of tlie Kingdom. Its advances to the giutcrnuienl in time of peril, have been like thai of the Bank of KnglunJ, enormous? has sustained heV armies at home and uhroHt, ? helped to repel foreign invasion, and keep down domestic insurrection. What injury, let me ask, was ever realized from the operations of the Bank of Venice, established hi the twelfth centtirv and during tin'erusaJes, and lasting till Venice ceased to he a republic. None, [ sir, none whatever. At least, none com pa red with | its effects upon civilization and the civilized world. | The B ink ol Amsterdam was certainly a (.Joverninent Bank, and regulated the exchanges advantageously of the civilized and commercial world. Dees tin? gentleman object to this Bunk, with all the good it. has done, or may do. No instance of peculation or dishonor has ever been proved upon the honest dntciimen, who administered its affairs, j 1 might go on with the Banks of Hamburgh, Henna, Berlin, Stockholm, and others, showing that Ciovernment Banks have generally been of the greatest advantage to the people at large, when the emoluments of the Banks went to the use of the people, Private Banks have nothing to do directly with this branch of the discussion, but as it general rule, they have always hevii tiniegwusti cal to the interests of the vro.rking paction .of the community. 1 really do not uitderstand what tile I jjentlfiiMn meuttft, ^owi L/nrolma lius proven the rui'""1* |?<?Jioy of connecting (fie capital, or tl.e iihr fW wiih a Banking institution. I f""1 '"5 Wl ' e*l,,,nn hereuftor. and ho able to mt'* ',ovV badly '"formed I hnv? Uft'n upon<'*e subject o( hanking in that Slate. An aut'-Bank purtv, I found In prevail from my first Acquaintance with die people of iIm* section in, which 1 visited. It \vJm,.so far as I beard the <levulopjcmeiu*," ?w? party question. I am sorry to say, that the democrats uh>I? opposition to the Bank, one of the jlnihlhe*, and the principal one they tode bofbredhe people. I say, 1 ?m sorry to u/fcke tins acknowledgment, because I ?m most decidedly of opinion, iliat this very Bank question has Settled the politicj ol th.?t Stale, in fa,or of the W higs more sM-?>ngiy than any oilier, whether of a general or'lucd character. VV'higgery finally triumphed nanf the Democratic humbug, in the winter of 1$?4 ?since when the ami Bank question has been dead as Julius Cwar. Democracy has nut yet recovered front the I a I so im.vcs of its. leaders iigreiution to this iiieoiiii. In fac t, it made as gren; a cnisiuke aj did one of its distinguished mllo-rcnts, who in a public i-pooch declared "that iVoO/> 3 Exploring Expedition had given to world, this continent in gcnciai, an I the great Slate of iSoilh Carolina, in particular," I 'tis is the history of the defeat of the nniiBatik party in North Carolina, The State owns, I sl.:..L sl.* . I ..r.i :. i i*-t. c* i> * i Kiiurv, 1)11(7 Ifliru III I(H' m III15 DilhK represented in the meeting of tin* sloc'.iiolJers by iliu StaRC'Treasurer. Tut? iino ami cry against ^ the D.tnk had begun to effect ti>e political parties of the Siale, i\<% well as to excite tiio feum of the stockholder*. The p^uderi of tiio institution with that audacity lor which ho has ever been di.tJ iingtiishod, proposed to the annua! necting of the. stockholders, that a resolution Mionh) he passed, | offering, il the State would ins'. i.ct the Treasurer to Vote lor ti.e nieasore, to ivs:;n their chai^r ami put the Hank into immediate liquidation. J?TIlia resolution was adopt d, ai.d laid before the j Legislature nl Jr>l . i .lis put our brother dernI ocrata Soto a pucker, They neither dared to aci_eej>i jti.r reject the pfupu?:up>w- ?? ? ? I o ;s supposed agreed to ihffec, nt least they did | differ iiI <tut the terms of acceptance?took no del' i inite acinic, and the question stick into insignifi i r.uiee in lite view of the democratic party. In ll is pornl of view u!onc can tiio gentleman assert ti..ii the c-niiexion between the Ji.tnk ntul Suite in North Carolina, v. as ui fortunate. It confii mod (tie whig ascendency, and destroyed the democratic hol.i.y. i t.e run- oi ?.n* ntaie lj.ink 01 Aiannmn, is not * n;ir !? ?J to any romidcrution in tics argument. I T'mf, was a nicrc loan (ilKvc, conducted upon j In? most ?' "ro^fI regulations, involving on I itllSO lute necessity of failure, profiling norm hut the j rocs Ions arid insolvent speculator, arid serving 11-p temporary purposes ?.t' ti e small Iry politicians, who ce. ll'?>r them. I: was an exanule ?>l ?.? * itinerary run mad upon the real .tans et/'ofte order and I.".ir.s no analogy to tuo Bank of I lit* State id Sonili C-arnlii-s. J?vcu tlic old United States j Bmkor n.,i.k". \s it i i all their iinperfeciions, errors, and tyranny, ndurahly answered the pur* oom.-s of tin- g ivrrnmri.t, both ns an nlly, and financial ?i_^?*r?t, independently of tl<o constitutional ejections, our opposition In thoso Banks, was founded mainly on the belief, that it mr.do the government stronger, than was at all sain fo the rights of the States?that it had n tendency to . centTnlirf* power and consolidate capital?that it controlled t tre.gtt and domestic eJtehantfes?that it re^ul iled commerce, nnd elevated and depressed nt pleasure, however divided, rhe injjstria! ? ? charges, ant] perhaps litcralW (tiv gov inaile ink, it fell. I s power was crush^^^^ the tin#, when its alliance With govern^Ft> lli?gO: \ by ^QoVnerfinentiy ask unv man who is open convi^|ft7tTl^?ii the subject umlerconsideration, how nil r>r uky of these arguments, so Strong and so conclusive, can operate against a Stale institution t I)o they not rutlier form a conclusive argument in favor of the Jiunk of the State] The Statu Uov^toHiiriit is emphatically tlio Govern* incut ol' the people. Can we make tlio people loo strong 1/jNii sir, no; unless, indeed, il is out" duty to legislate for the benefit of the lew capitaliulist<, ut the expense of lite great majority of the people of life State. ' Sir, claiming to ho a disinterested witness in this matter, I tini free to say, thai the people have been grossly misled and deceived in relation to their iiank, or that years of study, atul long experience have profited hut little. I trust that the homo git investigation of the affairs of the Banks p'oposcd l?y the gentleman from Chester, will ho oiiered hy this 1 lou so. It the Bank is unsound mil rotten, let us know it?it' not, let us and tye penile know it. b r. Speaker, there are amongst us some old fashoned gentlemen who cannot understand the argi nuuts used l>v the opponents of the Bank, in ruleience to the iptestinns ol the pledged faith and publu honor ofllio St..le. We have grown grey, eiiti'daitiirig the opinion from our yobth up, that tiieyiu/4^nd honor ofour S'ute, is beyond all price. We to leave this cherished ariicle of our IjijAdt, to the logic, sophistry, ingenuity or uhlest special pleader amongst ? . *\'o huVk-heen taught, wrongfully, perhaps, according to I ho H'lV lights, that a question of State honor, is at letst us strong as one of personal koto or, ami that ev_*ry fair and reasonable doubt is to bo dociJed against us ? that is, that in question of honor, we cudnot, and do not admit ol quibble or even an apparently sound argument, to relieve from just resfonsimhty. I prcv, you, sir, uud the Hoove J...- .t. i i J ?..?v I0MIIIII, iiini in iuv: iiiuuu MUU III ti II* tier in viiicl 1 |>ut ilie? arguments, 1 have no rcferenco to tlut code of honor in which the pistol or tlir rile s nles disputes of personal honor. 1 mean, sir lie personal honor ol a Carolina geti(lolling, ol i believing chiistuu?of an honest man. Tolas code I am sure 1 hope 1 rnuy say my sti i fr rnl, of Charleston, will most fully subset ibe^ and;et 1 am compelled to tell him that his arguments l< II lar short of what I expected from linn. Illc'v'hys and the wherefores, I puss without othei'coaliiienl than litis, that if there is unv man upen uis door to whom the honor and the jaith cf d^^ai olina is dearer than to liim, it presonis^^^^LuiinJ a strange aaomuly. and 1 cannot |i^^^Bhtuccotini for it. 1 give him lull I credit hn^^^Hriiv of his intention, and yet with /us viewj^^Hliuld not, and dare not trust the | pledged honor of I Ins tSt.ilo in his keeping. 1 nilr^ffjB.w'ith the necessary qualifications, [ J and well recogrtVsi Vxceplions to the general rule, i i that one Legislate)cannot bind another to the pursuit of any pu c^lar policy or ilio continuing of any general la* But whenever n right lias I veslcd l>y previous legislatures, we as a general i rule, are as in *lind as if wo had passed the j law ourselves, 'i; State through its Legislature grants an act incorporation to a railroad? to a Bank, to u (puitiduring company?-to a re: ligious society?^ individual interest, are we J not hound by ii.^7 l'f.nk so. Well. i in act of the Legislature? j by tite cgni'irrcnt o. lions nt liiose ascitis ut home unJ abroad, aJ'/ioiif|o to ultenj to the business, promised it is sutd^t liat by this act of legislation, the lunoauud the pr^ia (>| the Banks of the Slute ?<tre tiledjed for tfiu?rohemplioii of the Joan, so raisedupon litis pledge, but "on the other hand it > *ai>|Ay mtrhtHtorubly friend Iroflt Churlcstu.*,' sn?J thoiy tvho think with him, thut this a great mi staktTo a the part of the foreign creJ iters, and those at l/onie who have fallen into this saino error, that tho funds of the flank only,'and the faith of ,M>e Slate were pledged tor tita redemption of the foreign and dnrneste debit* Vnc consequence ol assumption is, that the State lies the right to crtarige and lake charge of the pledged fund, uml the cfcdilof is Ixauad to look to the Slate only in ll? changes, whether fortunate or unfortunate. 1 am free to say. that(should the present movement cause the entire loss of the capital of the li .nU ol Staty, as I, as at presor t advised think it may, that the people of tlUState will redeem an.I pay off every dollar ?.f it) public debt. But will not the creditors of the . ate, foreign and domestic, look upon this join/'y. as an act of repudiation, placing Its upoti a far with some other States of tin; Union Cm fid-i ce, on the purl of creditors, has been greatly slukcn by the course pursued by some of the Slates, whether from necess'ty or ! choice, makes little difference. Although Sou'.! ; Carolina jueily slonu above reasonable suspicion, yet enpitabsts very prudently looked to all the | collateral securities, supposed to be offered by the State. Her bank huil been administered faithfully-?ably and profitably, ami this the dealers in our St.tie slncnS know as well us ourselves, Pei lisps they tlid not know the deep, bitter, per sonai leeung, mat lit tome ex eni, nail ex.sieu, iirnl has since pu'iiv clearly developed itsell.? Oouhf less they knew that the present charter o( the Bank, expired in 1S5G, us well as lii.H they knew a sovereign State, coi:!ii not he approached hy a creditor, fxivpt l.y humble petition, and as well ns they knew also, that tlit* corporation ol the I?ink could lie sued in law and in ?<|iufv, anil compelled to redeem its pledged or mortgaged fidelities. They knew that the pledge of the funds not profits of the Bunk, was :nailo Ity that Innlv, rep resenting the sovereignty of the State?tii.it then was no constitutional restrictions upon their exurT cise of this power, and that the effect was ? t...~ mortgage on an u?le(i;i;iu?'?***** MfK which !:en this Courts of Euuilv wi?^o*-'n^"'''e- ? ' VVu h ive Judges in Berlin," was the reply m 'the hold Miller to the threats vf Frederick ll. fireat, " Wo have Judges in oon'i: Carolina, i.tihl inve hoen the indignant reply of any inte I ligenl Carolinian, had a i!.**?f<t heen insinuated a to the enforcement of mortgage. This one he tr>>c, is the enhstajiCG of tiio reply ; l.ul still, we refuse to re-chirter the Bank, as we may dr I what becomes of the lien. Cione, I adnrit, hn | then without the actual payment of .lie creditoi | w hat heroines of the und honor of the State | The faith and honor of a State, is like the repula I lion of:. I' ' l?!i. i t il.ti In ? .. i.l.uc ...o.l doubt stains?every charge, clothed in tlio garbn truth, however false, ints u direct tendency to de sfrny. Tin: Bank of tin; Siute lins to some extor been t'nc \ iciitri of vague surmises-?dark insinu annus, and unprovcn charges, and even of epi diets, mere figures of speech, like (hat of tli "scarlet woman," thrown in l>y the orator, as a expletive to round off a sounding sentence. But die opposition say that, oven admitting, th Bogisbituro did pledge the Bank to toe foreigi creditors, it only meant tlic fumlt of the Bank am dm .State lias the undoubted l ight, to change am transfer those funds at its pleasure. '1 hat is, th .specific lien may he destroyed, and the creditor!) compelled, /lutiornbhj, to submit to a re-investment at the will and dictation of the debtor. Withou the consent of the creditor, 1 lor one, think not. Nmo^j^ggMM^^uuon case, illustrative of (In jiiii.i ?"?0,A00 | and ngreosio secure the deLt by mortgage oil his , t slaves. ilu js s? sccunJ, an J amply. uccoriling i to the opinion of hid advisers. He takes A's bond ] ; lor tlie money, ami the spec lie lien as collateral i | security?,l,ul A takes u notion in time to send his t I slaves to the West, does 80, and sells thcui at a 1 , high price. 13 complains of this supposed breach i j <>l faith, but A answers promptly in the spirit of I I moiern oratory, " you ln*c my bond #&r what j I I owe you, and consequently, iny pledged faith 1 for it9 payment"?"you could not expncl that 1 SII mi 1.1 kiuiit MI?? clnt/.w Inl* vnnr n/.iw?r?..?...l I il?efund 1 Imvc sold them lor, adds to mv general I means, I shall /?iy you w l??n tlio debt Ufls duo." It is more than |?rt>l?ul>lo, L? and our lurrign creditors would think alike as regards the transaction? that faith and honor hud been sacrificed at the shrine of expediency. My lion, friend soys, that When the charter of the Bank of Charleston was granted, ail Charleston run mad, himself umongst the resTT"* Now, 1 will take the declaration us a matter of fuut, and will not stop to inquire, whether "the gentleman to this moment I as recovered his sanity on the subject of Banking ; but 1 will ask him to explain hereafter, how, in his opinion, so tnuny people run mad upon a measure primarily, of so wry little importance ? 1 udtnit, the same kind of mania prevailed in the country, lo the extent of my uvrsonul knowledge and observation, and .that many never troubled with the/pirit of speculation oefore, were anxious, and showed their anxiety by the risks they took, Uv participate in this promising and grand speculation. 1 do nut know the wliyfor that the Bank t?f Charleston was incorporated ; but one of the phymccs was, that bunking capital was, or would he iMWdud to supply the deficiency, occasioned by the' ondrawa! of the assets of the brunch Bunk of the United .States, from the city of Charleston. I So strong was the feeling of the Stale ngtinst the United States Bunk, that a measure now *dinitted by the Hon. gentleman, himself, as vc\-y inimical to the true interests of the State, was passed, undthu Bank ol Chut leston was established. Permit tnu to say, sir?and 1 arn gratified that the gentleman has given me the opportunity once I anain. to inuk<? ih? ib?..bip?iii?n m I.i. i. l ...i...i ^ ? V. V .... ' A IIIIVIIVICU to repeat whenever I have a (air opportunity of Jning so?that the charter of the Bank of Clixrleslon, is tiie foulest Idol upon our escutcheon, which can be found, either upon our statute book, or our books of history. 1 charge no man, personally, in this matter, If I were so disposed, which L mil not,, I would not know* whom to charge, as the concnctors of this nefarious scheme. That the charter of the Bank of Charleston, was a foul dishonor to the State, I have ever believed?that it w as the greatest mistake ever committed by sensible men, is to my mind, us clear as the meridian sun. Wo huve created u tnonsler to tyrannise over us, :n whose hands is placed the power of life and death, to the ' citizens of the State, so far as the means of living i are concerned ? it can crush, or expatr.ate ut pleasure, and should its S3,ICO,000 power continue, alter the Bank of the .Stale lulls, I would he disposed to congratulate the people of any established government in the world, upon the superiority of their actual condition, over that of the good people of South Carolina. | The very recital of the history of the Bank of i Charleston, is enough to cause a blush, on the cheek of every honest man in the State. What s?r ! a honn fide subscription, ol ?92,000,000 to a ?2,000.000 institution, us the Bank then started? a bona Jldc oayment of the amount required, exceeding, and more than doubling the whole banking capite' of tin f; tie at that lime! Who can doubt that the Philis 'tics in lull force, were down upon the unprote '.u citizens ol the Stute ; and . i . . i i r . i ? * i * - uiai cue Kijiisianct' 01 me u iuow, ami me orphan, were swallowed up in this maulswum of financial ' tegerdemuin 7 "7"** T/tis Dunk, which even now, Inn if. power to depreciate ot plcnaut'B, the propertyjuf <)Ur peopU. and drive Horn the market all the otlk-I??"Va, except the Dunk of the State, whiclifi the ehnrt pace of sixteen months, reduced itt^circulation more than a million of dollars, will come before us again for u re-charter# Will the Sla'e grant its request 7 Sir, tlio leader of the newly established, and probably, now dominant party, has somewhat forgotten his habitual caution. He makes an open declaration of war in the most emphatic language, " Dchnda est Carthago," we all understand this. whether we have forgotten our classics or not. A dictionary of quotations will help the moat humble of vis out, attempting to put in'o plain English ttic classical learning with which the Hon. gentleman 'J has kmdly enlightened the House, " J)e/cn<la est i Carthago." Agreed. So far as 1 may, I accept I not lor ' Carthago," but my associates in the hut ' tie, whether in the van, the rear or the forlorn hope, the warning now distinctly given?the threat ,! now distinctly avowed, thai " the Bank of the . [ State must i.e destroyed." It is most true, that ' soine are looked upon as true as siee!?as reliable I | as long ex perience, and personal consistency could warrant our confidence, have gone over to the apposition?tiiev are now enemies of " Carthago." Well, so he it, all powers exercising sovereignty, are compelled to give bounties to their recruits.? All political parties have to hid high for new ndhe' rents, 1 have no objection to the practical appli 'cation of the American apothegm, which is a lair lk.. a/vn/iliiu'i#.n . I'tkn l?nin:ili Ss*nalnr M i out apecehes <>l " Dtlenda est (Jurthugobo t" aptlv quoted by tlie Hon. ge nileman, * to (lie vic | tor* belong tlie spoils," Let there be no w inning, if | tin* re-oliarter shall sweep aw?y< the office holders ami the office seekers v? ho fight under the panic* 1 ular i.miner of lX-lenda est Carthago, lor office, for honor or ihr principles. I too, insrrihe upon . my banner, the same niot'o ; hut my Carthago is . aft incoi porated Hanking Institutions of a private ? character. And 1 hd partly led to this conclusion: f, fr om my own reading, observation and inquiries, and partly f'rnrn the tearful avowal made by the i ! gi lit ferritin from Chariest^; himsolf. It was that e | 'he hankini; institutions of the State would com1 \ ' !,(? und com/itl a re-c!rarti.r of their private interI-1 < sis. It is alleged to he sure, that that fearful s I power would he greatly weakened by winding y j up tlie business of the Hank of the Strfte, that is, if i throw into the hands of individuals the power of >, taxing the pooplc of the State 31,600,000 for their it i own private and selfish purposes, and thereby renr. ] der the great body of the people wiser, purer, and i inute Hide j>enut;r?l than ihey now are in ]mriici|>a* i- tin;,' in a part of the profits of Bunking. r?an ?uch v in argument lie tolerated for n moment, by tho i?T Iclligence of this Slfttc. Not by the Inyly of the i. j people at farge. t am well satisfied, however fail vocable u reception it may receive from capitalists, i- speculators and political aspirants. I nm now ? nearly satisfied, at least inclining strongly to ti e e opinion, that all private incorporated banking instill lotions are a fraud upon the industry of the country. It is not merely the concentration of capital in the e hands of a Jew and the factitious increase of that n capital in u thri-o fold degree for legitimate puril poses, that I si much object to, though that is d oljcc'ionable, b it it is in the power of deprecie a'icg and appreciating the property of tho country, e at pleasure, by the process of expansion nnd conI, traction ir. Bank issues?-a process so well under; stood, and so cnl 1 blooded ly acted upon in4 tins country and Kurope, that many a mm of fortune * has found himself bankrupt, without ever being i, ab!i Ir detect the true r*u?c ??f hit insolvency. * "'j* ..ii ? i ? So 1 say Deh'ntla eat Curlhago. Anil now. Mr* Speaker, t believe 1 have gone through with all I l.nve to shv in argument, or in reply. 1 have oast* ?d over auiuu of the minor points in the speech of ihe Hon. gontlemun, not from disreaped, but from necoraiiv. 1 am unable under the circumstance* * i in which 1 urn placed, lb hold out much longer / than I have done ir. following the tliuUBn a to be e?tertuin<% by tbu House ns the have mailt* a| the bo fairly luiii before whom ask to the already granted hy them, of w have been styiu^^B^IBfl^^^^^^H a* have attempted ^^^^B^BflflHI atn the tin- fl H fully stated, opinion^H^^^^^^^^^^^B^J thorough searching investigation jfl B the if the Dank the tiou und disbursement mora of dollars, itself a ~B B 3d. That their is no necessary legal or political connexion between the State and the Dank of thu Cstate--?the Bank being a mere privatecorporation, ^B B responsible individually to its creditors, and over which in l/tis resjHT.t, the Stale Ms no direct con- ^^Bj^^B / ^hb^B 4lh. That it is neither " unwise," nor inexpe- _?B dient," ao far as past experience is concerned, to I I connect the ofTairs of Bank sod State, when the B Stale is the eole owner and reprcscnlativc ??f the sloc k of the Bank, with which it is connected. ^^B 6lh. That it t* unwise, impolitic and prrsu/njifuout, iu any man, or set of men to determino in a ? word, whether the Bank of the State, ought or ought not to be re-chartered in 1S56, unless a quealion of Statu honor and faith be involved in thu issue, 6ih. That the objcctious to, and the arguments against, the Bank of the State, apply with \njin~ itdy more force agni st all private incorporations for hanking purposes, than they do against tho institution Known as " the Hank of" the btatc." 7th. Thai the Hunk is as Svutid, so fur as wo have any proof, ns any Hank in the Htnte, and that its affairs have been generally, faithfully admin* istered. 8th. That the Hunk, in spite of every charge nml assertion to the contrary, has already paid out for the use of the tSiate, more than all the capital entrusted to its management ) and preserved intact, its whole capital. 9th. That according to all history,- Government Banks have almost always proven advantageous to the Government/ and the great body of the people, 10th, That the Hank of the State, has front its creation, supercecdcd the necessity of direct taxation, beyond the tmuli amount now raised by luw. 11. That if the funds and profits of the Hunk,were pledged fo thecreditors ofthe State thtn, thai the State cannot without a breach of its fnith and honor, change the investment of these pledged funds. 13th. That to cripple the legitimate operations of the Hank, in any way Whatever, during the chartered existence of the same, is a breach of fa th 13;h. That the funds on hand/ kept by the Bank, to meet its responsibilities, for special payment are most amply sufficient for ali legitimate banking purposes, and that the history of Our own Hank and every other Hank in South Carolina, will prove the correctness of this n< point in the argument. 7^^ f How far 1 have mndr not t?k?ust?'?n thogr point* in t?.? ..guinrni ?u hrnittrcl, retrfkHiS for this House' and the public to determine. The main question whether it is, or is not politic In put the Bunk inf liquidation, is a very grave one, and it seem to me, ought to be laid fairly and fully before' the neonle. It has not been in done ?>nr the gentleman seem willing, judging frotn Ins points and argument*, flint on appeal should he mode to the people, lie sverns desirous of destroying/ without delny or further chnnce of failure the Bank, at once, now and forever. No such question as he makes, has ever been submitted, or been derided upon, by the constituency of the State* It is true.thnt a question whicltf every man of sense, acquainted with the suhjeet, knew that if decided alfirmatively, was fatal to the Bank, was in many Districts submitted to tho people. Of course oil those in favor of destroying the Bctik, were in favor of the proposition to publish " the names" of debtors, whether officers of the institution or of the ticncrul Assembly, as well as, were many others, not unfriendly to tho Bank, but who had been induced to believe the matter of publication, would be politic os well os just and proper/ This simple unt? reasonable proposition, os tho constituency w?-re in places taught to believe, seems to have sunk into utter insignificance, w hen compared with the bolder measures now proposed of putting the Bank into immediate liquidation or doing that w hich in tantamount to immediate liquidation. The people, in this matter, have been deceived bv the politicians, us they generally are, w hen they take for granted, ftiot party measures are advocated candidly and honestly. The peoI pie of my Distric t, 1 feel confident, did not an ttcipale th?y were about destroying their' own Bank, when they consented to u publication, as some of them did, of tiie names of a class of its debtors. Indeed, this was positively desired by some of the ablest advocates of the publication issue. Now the question is, shall or shall not the Bank of the Bank of the Slate he dcttroyrd. Let the people he board on this issue, i have wit* nessod, sir, sundry changes in parlies in this State, and I believe one of the invariable results hat been,that the attacking party, has finally succeeded, more front the confidence and sopinettess of tiio defenders, than from any intrinsic merit in their" principles; but, one object, whether the main orne or not, need not he inquired, is accomplished by the result, new men get the pow er of the State in their hands, and consequently, a mortoply of tho oflices of the State. The present struggle, 1 consider the most dangerous to the renl liberties, nnd the true interests of the people of this State, of snv. 1 have had the fortune, good or bad, to witness this, in mv judgment, a direct attempt of the nionird interest to control the destinies of South Carolina. If this interest shall succeed, political interests and questions will he sheared of their importance, and the proper tiiM " never will come,'' for South Carolina to resutflBg encroachments of the general "ovcrtimeiiiVvT' Let young South Carolina look to this matter.-? Lrt the gtllant spirits which have heen ready t?v peril all, in defence of the rights and honor of the State, examine this matter thoroughly and understanding^-, and guard well ngninst the trammels of a party, u Inch will extinguish the last spark of tho fire of true patriotism, now too dimly and feebly glowing in the South. I am done, sir. 1 have r,tiered my warning cry. 1 have discharged my duty, and have only in conclusion, ?n return to the House my thanka, for its courteous attention.