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Reports and Resolutions: December Session, 1803. 1803 87 (1803)

handle is hein.slavery/ssactssc0056 and id is 1 raw text is: R E P0R T S AND RESOLUTIONS. DECEMBER SESSION, 1803. REPORT OF THE COMPTROLLER-GENERAL. STATE OF SOUTH-CAROLINA. OFFICE OF THE COMPTROLLER-GENERAL, : Novenber 28, 1803. To the Honorable the SPzEKER, and others, JDInERS of the .lousf of REPRESEIN2AlVES, the CoM-frrOLLE.R-G.ERIL REPORTS- T HAT in conformity to the ac9 of the last session, incorporating the State Bank, the Stock intended as the Capital of the state in that institution, has then issued and deposited therein; the uniin of the state therewith consequently has become complete; And it i' with great satisfation that the Comptroller-General is enabled to say, that the most sanguine expe&ations and prediaions, relative t6 the advantages resulting themefrom, have been realized; thl half year's dividend to the first of July last, having been declared at 5 per cent. making a gain to the state at the rate of TWELVE THOUSAND DOLLARS per annum, on the score of interest, the shares having already advanced to more than 50 per cent. on their cost, forming a profit to the state on its general Funds, of upwards of ONE HUNDRED and FIFTY THOUSAND DOLLARS, and are still rising. The access which the Comptroller-General has to the general accounts of the institution, authorizes him in saying, that the affairs thereof have been managed with integrity and judg- ment; and that if the same degree of circumspetlion hitherto ob- served by the Board of Dire&lors, shall continue to prevail, no doubt needbe indulged that the interest of the state therein is not only se- cured, butmust be inot beneficially increased. That in pursuance of the requisition of the above recited a61, the sum of Two Hundred and four thousand and seventy-four dollars, and 27 cents, amount of the Paper Medium of the state, was, on the 10th and 11th of June last, destroyed in the presence of his Excel- lency the Governor, and other officers hiamed for the pUrpose.in thait aft; that the consequent ieduclion of the monies in the treasury At pharleston, rendered it *researy to borrow of the Sijte: 1iAki a's

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