Note 684 — Chapter X · THE ECONOMICS OF THE VOTE ON THE CONSTITUTION
Reading edition
State Papers: Finance, Vol. I, p. 462. In 1783 an attempt to establish a bank with $100,000 capital was made in Charleston, S.C., but it failed. “Soon after the adoption of the funding system, three banks were established in Charleston whose capitals in the whole amounted to twenty times the sum proposed in 1783.” D. Ramsay, History of South Carolina (1858 ed.), Vol. II, p. 106.