Wlliam Gilmore Simms
Selections from the Letters and Speeches of the Hon. James H. Hammond, of South Carolina >> Message to the Senate and House of Representatives of the State of South Carolina, Nov. 28, 1843 >> Page 76

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Page 76

Documents | The Reprint Company; John F. Trow & Co. | 1866, 1978
Transcription 76
cisive and important victory, it appears to me that
it would not only be magnanimous, but wise, to forgive
the past, and look only to the future. I took the
responsibility of instructing the Attorney General and
the Solicitors not to press the suits against the Banks
to trial at the fall term of the Common Pleas, for the
purpose of leaving you free to take such a course as
you might deem most consistent with the dignity and
interest of the State. I suggest to you the propriety
of repealing the Act of 1840, and passing a new one,
founded on the decision of the Court of Errors, de-
claring that any future suspension of specie payments
shall cause the forfeiture of the charter of the sus-
pending Bank, and requiring the Executive, in all such
cases, immediately to institute proceedings for that
purpose. The Act of 1840 is too indulgent to the
Banks, in permitting them to suspend, on payment of
a trifling penalty ; and as to the monthly returns
which it requires, experience has everywhere proved
that they are worse than useless. I have recently re-
ceived communications from the Bank of South Caro-
lina and the State Bank, notifying me that they would
no longer contest the validity of this Act, and asking
to be allowed to conform to its provisions. I refer the
matter to your consideration.
I have received, and transmit to you, a communica-
tion from Hon. BAYLIS J. EARLE, resigning his seat
upon the Bench, in consequence of ill health. His re-
tirement from a station which he has filled with such
eminent ability, is a serious public loss, - and the cause
of it, a source of deep regret.
I transmit to you Resolutions on various subjects,
from a, number of our sister States, and also letters