What country does South Carolina National Bank of Charleston and Andrew Jackson have in common?
South Carolina National Bank of Charleston One of the most important buildings on South Carolina’s oldest commercial street, the South Carolina National Bank building was built in 1817 as the Office of Discount and Deposit of the Second Bank of the United States. The bank was the only bank equipped to provide international banking services, which enabled the transfer of South Carolina rice and cotton to European markets. President Andrew Jackson later withdrew all government deposits, thereby destroying the bank. In 1836, when the Office of Discount and Deposit was liquidated, the Bank of Charleston purchased the building.
Gazaway Bugg Lamar Gazaway Bugg Lamar (1798-1874) was a steamboat pioneer from Georgia who went on to found a Wall Street bank. After the start of the American Civil War, he returned to his native Georgia and became active in banking and supporting the war effort in several ways including founding the Importing and Exporting Company of Georgia one of the blockade runners of the American Civil War. At war's end and with Sherman's troops approaching, he took Lincoln's oath (sometimes called the Proclamation of Amnesty) to uphold the United States constitution in return for the promise that all his property rights would be restored. It took until 1874 before he received a settlement of almost $580,000, a huge sum at that time.