The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-06-19
SHALL THE BANKS OR THE

SHALL THE BANKS OR THE
PEOPLE RULE7-There is one prin.
c pie which the anti Democratic party
do at least avow, openly and publicly;
that is their preference for fuctuatinR
currency put forth by soulless corpora
tions. This should be borne in mind,
as il is about the only principle they do
not attempt to conceal from 'lhe pubs
lie eye and a principle which the DEM
ocratic party should meet them on Ut
the polls.
The opposition are in favor Of giving
10 Banking institutions, unlimited pow>
ers-powers which Sc, them above
their makers, and make them the rulers
instead ofthe ruled. When in the ex-
ercise oflhese privileges, they can to
effect an object, expand their circula-
tion, make money plenty, elevate every
kind Of business above its proper level,
raise the price Of every thing to fcti-
iious value, making The times appear
prosperous, and encouraging every
kind Of speculation, idleness and cor-
ruption TO effect counter oSjeci,
they can contract their circulation, sp-
ply the screws 10 their debtors, and
raise the cry ofruIn and distress thro'
The whole community. The whole his
tory Of banking proves this. Does any
one doubt il, lei him look at our own
Slate Banks, or the old u. s. Bank. In
1880, that bank had discounts and bills
of exchange out TO the amount Of with
IN fraction Of forty millions Of dollars.
In 1882, it's discounts and bills Of ex-
change were seventy millions, showing
ar increase 10 two yea, of thrifty mil
lions of dollars, What was the object
10 viewl Why a recaarter. The loans
were principally made to Members Of
Congress, and wild land spectators.
Who does not recollect the consequent
cesi Every thing bloated up, aud ey-
cry body..aying to live without work..
B, bril- nd corruption, it effected .
rech .r4sf. F. esideni Jackson vetoed
it. The Bank now, reversed its posi-
'iohsto force charter, through Tho suf.
ferinss Of community, 1t Bpplied.i,s
screws, 10 the necks o! the people. Cal
led in its notes-run upon The S.a,o
Banks for specie--shipped tha. specie
10 Europe; and the cry Of ruin, panic,
and DISTRESS, that was started 10 the
Capitol, was ruug fiom Maine to the
Gulf Of Mexico, by the bought up press
es. All would not do however; The
Patriot, and Slatesnan, in the Presiden-
lial cha r, was firm as the Adamanlne
rock, and the people beginning to see
the tremendous power Of such an in
stitution, sustained the President and
elected successor that would carry
out his principles. This was one at
tempt Of a single bank only, 10 brow
beat the Government, and rule over tho
people; and the attempt was sustained
by the entire Wing party.
Siuce that time, and the Tecommen.
dation ofthe Sub Treasury, We tb6ve had
one continued sefies Of expans,ode and
contracliOns by the State Banks. Not
a dollar, out Of millions Of tho public
money, held by these banks oan be had
by government TO pay ils necessary ex.
penses. A war has been carried on By
the banks and the Wing party against
all restrictions on their iniquitouS
course. To rMls, ,inetead Ofbeing rglsd,
is their osiensibile object, their soDs aim
andt0 cap the climax. The Marty Who
sustains them, tells Us we must be eo6s
vinced Ofthis by our "sufFeriDgs."
10 our own State, The banks have
been applying their coniraciiog screws
with vengeance for the last year. and
on The same pfincipIe ofYRIiDe The psas