and the Acts amendatory thereto, passed previous to 1st December, 1819, the dates of the respective transfers, and the Sources whence derived. Also the payments made on the Public Debt by the said Bank, out of said capital, setting forth distinctly the dates and amounts of such payments. That he also state the amounts of all payments made into the Public Treasury by the said Bank, on account of profits, with the respective dates of such payments. That he set forth in such statement, also, all payments made by the said Bank, (out of any funds transferred to it as capital, or deposited with the Bank to be used as capital, or from the profits or income derived thereform,) on account of the debts due by this State. That he likewise set forth all sums paid by the said Bank, from income or otherwise, to the public creditors, on account of the interest on their respective debts. That he also set forth all sums which have been added to the capital of the Bank, since the 1st December, 1819, or have been deposited with the Bank to be banked upon as capital, or have been transferred to the Sinking Fund from the State Treasury-with their respective dates. That he also prepare a statement, exhibiting the actual operations of the Bank, in respect of income or profit-in which he shall charge the Bank with interest, upon all sums paid into it as capital, or transferred to it to be used as capital-and credit the Bank with all sums paid into the public. Treasury as profits, and also all sums paid to public creditors on account of principal or interest of these respective debts, out of the profits of the said Bank. 1847. INVESTIGATING COMMITTEES. PRINCIPAL BANK. 1820.-Messrs. Elliott, I'On and Ramsay, of the Senate, and J. Hamilton, Jr., W. Carr and Geo. Butler, of the House. 1824. Messrs. Henry Deas and Alfred Huger, of the Senate, and Wm. Washington, B. F. Dunkin and Wm. Rouse, of the House. 1826.-Messrs. Grimke and Seabrook, of the Senate, and Pinckney, Dunkin and Elliott, of the House. 1828.-Messrs. I'On and Smith, of the Senate, and R. B. Smith, J. Mintzing and A. Black, of the House. 1830.--Messrs. Seabrook and Cunningham, of the Senate, and Axson, Horry and Shand, of the House. 1832.-Messrs. Ashe and Cunningham, of the Senate, and P. Finley, Bryan and Dawson, of the House. 1834.-Messrs. Hamilton and J. E. Jenkins, of the Senate, and H. Gourdin, J. Mintzing and E. H. Edwards, of the House. 1836.-Messrs. J. E. Jenkins and Bryan, of the Senate, and Frost, Edmondston and Yeadon, of the House. 1838.-Messrs. Bennett and Dawson, of the Senate, and Memminger, Schnierle and Simons, of the House. 1840.-Messrs. Quash and Felder, of the Senate, and B. F. Hunt, Echard and J. J. Middleton, of the House. 1842.-Messrs. J. B. Grimball and Elfe, of the Senate, and Carn, Frost and Hibben, of the House. 1844.-Messrs. DeTreville and Murray, of the Senate, and Torre, P. Brooks and W. G. Sims, of the House. 1846.-Messrs. J. S. Rhett and Rivers, of the Senate, and J. E. Carew, D. Jamison and J. H. Read, of the House. COLUMBIA BRANCH. 1824.-Messrs. David R. Evans and Saunders Glover, of the Senate, and C. Bookter, T. W. Glover and John Caldwell, of the House. 1826.-Messrs. Hampton and Lehre, of the Senate, and Bookter, Partridge and W. Thompson, Jr., of the House. 1828-Messrs. Hampton and Hart, of the Senate, and A. P. Butler, W. Thompson, Jr., and Player, of the House. 1830.-Messrs. Manning and James Gregg, of the Senate, and T. W. Glover, Bookter and Butler, of the House. 1832-Messrs. Gregg and Higgins, of the Senate, and McCord, J. J. Caldwell and Glover, of the House. 1834-Messrs. Gregg and Caughman, of the Senate, and Adams, Bookter and Boozer, of the House. 1836.-Messrs. Canghman and Dunovant, of the Senate, and D. McDowall, Boozer and Caldwell, of the House. 1838.-Messrs. Glover and Higgins, of the Senate, and Boozer, Brown and McDowell, of the House. 1840-Messrs. Witherspoon and Boozer, of the Senate, and Herndon, Pope and J. H. Adams, of the House. 1842.-Messrs. Moses and H. H. Thompson, of the Senate, and Palmer,D. Jamison and H. Arthur, of the House. 1844.-Messrs. H. C. Young and Gist, of the Senate, and J. R. Aiken, Manning and Black, of the House. 1846.-Messrs. Perrin and Griffin, of the Senate, and Yancey, Boyce and A. R. Taylor, of the House. CAMDEN BRANCH. 1824.-Messrs. James S. Deas and Evan Benbow, of the Senate, and Thomas Lang, F. L. Kennedy and N. Barber, of the House. 1826-Messrs. Miller and Irvin, of the Senate, and Lang, Patterson and Gibson, of the House. 1828.--Messrs. Benbow and James S. Deas, of the Senate, and Gee, Dugan and J. P. Richardson, of the House. 1830.-Messrs. Dugan and Glover, of the Senate, and Hill, Richardson and Spann, of the House. 1832.-Messrs. Chesnut and Dugan, of the Senate, and Davie, McWillie and Potts, of the House. 1834-Messrs. Richardson and Goodwyn, of the Senate, and Potts, Levy and Cunningham, of the House. 1836.-Messrs. John Chesnut and Dugan, of the Senate, and Davie, Patterson and Murray, of the House. 1838.-Messrs. English and Powe, of the Senate, and Patterson, Richardson and Murray, of the House. 1840.-Messrs. Gregg and Buchanan, of the Senate, and Woodward, Palmer and James Chesnut, of the House. 1842.-Messrs. Dargan and Hanna, of the Senate, and Dickerson, Blakeney and Manning, of the House. 1844. Messrs. Hanna and Dargan, of the Senate, and James Chesnut, McMullan and W. J. Alston, of the House. 1846-Messrs. Buchanan and Huey, of the Senate, and J. D. Wilson, H. Boykin and Chandler, of the House. GEORGETOWN BRANCH. 1824-Messrs. Thomas P. Davis and S. D. Miller, of the Senate, and R. A. Taylor, Joseph W. Alston and John Porter, of the House. 1826.-Messrs. Flagg and Wilson, of the Senate, and Carr, Alston and John Gregg, of the House. 1828.-Messrs. Flagg and Weatherspoon, of the Senate, and Coggeshall, Hemmingway and Pringle, of the House. 1830.-Messrs. Campbell and Allston, of the Senate, and S. Cohen, Jr., Allston and Pringle, of the House. 1832.-Messrs. T. P. Allston and Evans, of the Senate, and Dunkin, Cohen and Singleton, of the House. CHERAW AGENCY. 1832.-Messrs. R. B. Campbell and Pegues, of the Senate, and Irvin, Harllee and Rowell, of the House. HAMBURG AGENCY. 1832.-Messrs. A. P. Butler and Black, of the Senate, and Pickens, Bull and Benson, of the House. REPORTS OF INVESTIGATING COMMITTEES. (1820.) FROM THE SPECIAL COMMITTEE OF THE HOUSE. The Committee appointed to receive from the Comptroller General information relative to the Bank of the State, respectively Report: That from the statements of the Comptroller General, and of the President of the Bank, who favored them with their attendance, and freely communicated all the information required, this Committee are enabled to submit the following brief exposition of the progress, management, and present situation of that institution. At the time of its establishment, and for a considerable period afterwards, a very small part of the capital of the Bank consisted of money; the greater portion of it consisting of stock of different kinds, and of debts due to the State; as will more fully appear by reference to the Comptroller General's Report for the year 1812. It has been the policy of the institution to convert its stock capital into money, whenever it could be done advantageously, or whenever the increase of its business required, on banking principles, a larger cash capital; and whenever the profits of such increased business exceeded the profits arising from the stock. Accordingly, the whole of the United States stock has been converted into cash, and all of the Bank shares have been sold, except a part of the shares in the State Bank. The Banks shares which have been disposed of, have never been sold below par; whenever they would not command that price, their dividends have been received in preference to selling. The Sinking Fund system adopted by the General Government for the redemption of its stock, had very considerably reduced the value of that stock, before the establishment of this Bank; and the amount paid quarterly into the Treasury, on account of this stock, was calculated to deceive those unacquainted with this system. Eight per cent. was paid in quarterly payments; in the first instance, this amount being two per cent. more than the interest, reduced the principal two per cent.; and the same amount being paid annually, viz., eight per cent. on the original principal, in inverse proportion, as the amount of interest due, at each successive payment, became less, the amount of principal reduced became larger. Had not this Bank been established, all of the United States stock, except a part of the deferred stock, would have been redeemed before this period; and the principal being paid in small amounts, with the interest, the whole would, in all probability, have been swept away in the annual current ex |