The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-02-07

10 fall. we shall bs found, sword in hand.
defending the last ditch, under the broad
banner Of Constitutional feedom aud e.
quality Of rights. =
.Besiles the Constitutional objections
10 U0ited States Bank, it is too pow
erful an institution TO be tolerated 10 a
hse country. It's strongest advocates
agree, that It has the pewor to break
any, or all hebahks in The community;
rhat1l can make money plenty or scarce
al its will, thus raising or depressing
the value of every mans property;
- whenever it suits its political views, or
its sordid specuAting schemes And
&c who Prestdes over this all powerful ma
,chinerya One man; and that man, en-
tirsly governed by the IN erests Of the
- Stockholders, or by the ambitious de-
sigas efhis political associates. Who
IL to, regulate him? Can the people
reach him1 They have no control over
him whatever. And, if bank were
created, as some have suggested; to be
responsible for IT'S action to Congress.
and under their supervision, -who'does
not sse, that It would in%a short time,
become a great political engine wiel-
ded by whatever party might be in pow
OF, and prostituted TO the worst Of pur-
poses2 mo scheme has yet been de-
9ised by the wit Of man, which will rem
der such en- institution public blessing
, without eutrusting so much power to
those who manage it,as to render il dam
. gerous 10 the liberties Of the people,
We want 10 such t'Regulatoy" as this,
in land of freemen. We vent no reg
uiator-but the constitution and the laws;
guided, construed, and modified, by an
enlightened public opinion. Give US a
cheap and simple government equal
laws, protecting every man in his rishts,
AMI securing to labor the fruits Of its n-
,dus'ry, and we ask no more. We want
no laws TO make "the rich richer, and
the p!or poorer." Let every man ,be
the architect Of his own fortunes. Blest
with such country as we inhablt, and
protected by such mild and bene6cent
government, the great mass oil our GILL;
zens caan1t fail 10 become prosperous
and happy.
During the existence ofthe United
States Bank, it ha ,he custody Of the
public moneys, and owing ,o the credit
which was thus gwen it, and to the fact,
, that its no es were receivable in payment
of public dues, ii obtained an almost un>
limited credit with The business men Of
tho community. On the removal Of the
., public deposits, in 1888. ,he local banks
undertook to- perloT the duties which
had previously devoIved on that insli>
tuition. The schemes appeared TO work
well for while; but in the spring Of
1887, a general suspension of specie
paymeDts took place, with many millions
ofpublic fsn6s4 4n the Vatlts Of the banks.
Although they had received public mon =
eye, either 10 gold aud silver, or its G.
qulvalenl, and were bound 10 pay it o.
yer for public purposes, en- demand, they
u,terlyreiueed to DO so, and closed their
doors,upon the government. as well As
upon private cit zcns. President Vpb
Buren,, with bodness and sssacity
which characterizes HIM as one Of the
most eminent statesman Of the age, a.
once recommended to Congress TO sep
arate the financial operations OF the gov
ernmen. from all banking institutions,
> and 10 establish an Independent Treas,
ury, belonging 10 the General Govern
. rneui, and under ile sole ccniroI of tht
people, through their Representatives
and Constitutional agents. A more just;
wise and saiUtary measure could no
have enanaled from the Executive; ant
vet, for this recommendation, he has
met with violent, uucesslns, and reck
less hostility, scarcely paralsIed ~ The
history Of the republic.
&Upon what principle can the bank
demand the custody Of the public mon
e.' Who arc the banks? Corpora
,ions, created by the states, consisting
of a few individuals, who have ;hrowI
ihelr money togelheT, and agreed lt
bscome money lenders, for profit re.
nelved from their borrowers. To Dc
sais, more efec;uaIly, they obtain ,
charter, allowing them certain eX'raOr'
dluary privileges, not granted TO olhe
citizens. They obtatned fciitIou
sredi, 10 community; their prom'ssar,
notes circnIates in place ofmoney; law
are passedto secure them against coun
,terfei,ers, and their private property i
exempted from the paymen. of lhei
debts. If they have one hundred thou
sand dollarsin money, they are permit
ted TO lend three hundred thousand it
their notes, and TO receive six per cen
upon it; thus realizing eighteen per ce
on their money, instead Of six. Thes