Maumee express. [volume] (Maumee City, Ohio) 1837-1838, 1837-03-25
whose daily wages are necessary for
their subsistence.

fraud. Ii is more especially Inc uuty OF I
the United States, where the Govern ,
ment is emphatically the Government
Of the people, and where the respectable
portion Of our citizens are so proudly
distinguished from the laboring classes
Of all other nations, by their Independent
spirit, their love Of liberty, their intell-
genee, their high tone Of moral charac-
Ter. Their industry in peace, is the
source of our wealth and their brave
nv in war, has covered US with glory /;
and the government of the United States
will but i'll discharge its duties if it leaves
them prey to such dishonest imposi-
tons. Yetitis evident that their inter-
ests cannot be effectually protected un-
less silver and gold are restored to cir
cuation.
"These views alone, Of the paper cur
rency, are sufficient to call for immedi-
ate reform; but there is another consid-
Grafton which should still more strongly
press it upon your attention.
"Recent events have proved that the
paper money system Of this country
may be used as an engine to undermine
your free institutions; and that those
who desire to engross all power in the
hands of the.fcw, and to govern by cor
: ruption or force, arc aware Of its power,
and prepared tocmploy it. Your banks
now furnish your only circulating me-
dunn, and money is plenty or scarce, ac.
cording 10 The number Of notes issued
= by them. While they have capitals no,
gFeaiIy dispreportioned to each other,
they are competitors in business and no
one of them can exercise dominion over
The rest; and although, in the present
aud IL do g onss ,,s currency, these banks may
bits Of basines.sas injuriously upon the ha-
~ the moral tonohe pecuniary concerns
i .helr number and dhqcieiy; yet from
:. !ney 8 cannot combine for NiSed situation,
lnlluence; and whatever may y1BSrpose BSr Of
posllions Of some of them, their ae peSdils dis
n misc&ef must necessarily be confins
GO 20 narrow space, and felt only in
their immediate neighborhood.
But when the charter for the Bank Of
f1as U1i'ed States was obtained from
NoRgress, it perfected the schemes oftbe
Ispcr system, and gave to its advocates
NE position they have struggled to OBJ.
a !alia, rofnsthe commencement of the
tedtfal soVernment down to the pre.
q |fsl1 hour The immense capital, and
]cssliaf privileges bestowed upon il. .en.
lied y tQeyercise despotic1 az = over
!he Other banks !, i IL very par. of the
sou,,s' s.s,,, &: y = rs superior strength, it
','''.s teusu a. sisiy injure, If notdestroy.ihc
= SIN ess VI any one Of them which might
incnr ssentment; ard it openly
claimed iarlitself the power OF regula-
ting the currency throughout the United
States. In other words, it asserted (and
ii undoubtedly possesseD the power to
make money plenty or scarce, at its
pleasure, at any time, and in any quarter
Of the Union, by controlling the issues
Of other banks, and permitting an ex-
pansion, or compelling general con-
traction Of the circulating medium, ac-
cording to its own will. The other
banking institutions were sensible of its
strength, and they soon generally became
its obedient instruments-readv at all
times to execute its mandates: and with
the banks necessarily went, also, that nu-
merous class Of persons in our CONNER
cial cities, who depend altogether on
bank credits for their solvency & means
Of business; and who arc, therefore,
obliged, for their own safety, to propi-
tiate the favor Of the money power by
distinguished zeal and devotion in its SER
vice,
The result Of the ill-advised legisla-
ton which established this great monopo-
ly, was TO concentrate the whole money
led power Of the Union, with its bound
less means Of corruption, and its numer-
Gus dependents under the direction and
command Of one acknowledged head );
thus organizing this particular interest
as one body; and securing to it unity
and concert of action throughout The
United States, and enabling it to bring
forward, upon any occasion, its entire
and undivided strengthto support or de-
feat any measure Of the government
In the hands Of this formidable power,
thus perfectly organised, was also placed
unlimited dominion over the amount of
4 circulating medium, giving il the power
10 regulate The value Of properly and
the fruits Of labor in every part Of the