The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1840-12-18

uuSteu WIN 'he Ia" making power, OF
leglslatIng for the proiectinn Of the prop
ehy ofthe individual citizen, from the
dipredations Of those who are engaged
in criminal viola'ieus of the righ, orl
prppetIy. Yet, If all the losses sustain,
ed by individuals, by the commission of
ths various crimes against private prop
ery were added together, the aggregate
wpuld fall far short OF the losses sus-
tanned by the community, in various
shapes, through the banking institutions
ofthe country. What difference does
j make 10 the individual citizen, wheth
pr he has lost an hundred dollars by the
hands Of the midnight thief or by the
Insolvency Of bank, or the deprecia-
StSo Of its paperf 1t Is true, there may
be great difference in the moral turpi
tude Of the two cases, but the cOuse
queace to the individual citizen is the
same in both. ln each case he has been
deprived of the same amount Of proper
ty without consideration. Are we not
as much bound to guard and protect, by
our legislation, the property Of the in
dividual citizen from being taken from
HIM without consideration, through the
agency of banks, as we are TO protect
his property from the depreda,ions and
acts Of the desperate and lawless crim-
inall Tho answer would seem to me
10 be obvious. This is a subject in
which we are all deeply interested.
What is one mans case to-day, may be
another's tomorrow. 1t is intimately
identified with the interest and prospsri-
10 of the whole community.
1t is remarkable, that an attempt 10
protect the public against tho losses to
which | have alludud, and to correct
the abuses ofthe banking system, should
meet with any FORMIDABLE opposition from
any quarter The bankers themselves,
who are desirous TO conduct their busi-
uess on fair principles, greatly mistake,
in my judgement, their true and ultimate
interests, by clnging 10 system and
resisting every effort 10 reform it, which
has entailed on the country such vast
amount of unmitigaled evil, A paper
per system, which has been the occu-
zion Of such large and heavy loss to
the government, and which has been
the means, in various shapes and forms
of taking millions from the honest labor
and industry Of the country, must be
radically defective, hostile 10 the inter-
ests oflhe people, and cannot long b.
tolerated inIts present shape by an in
, telligent and honest community, lre'
10 choose their own measures for thei
own prosperity and happiness. 1t il
t believed the evils and various frauds
committed through the iustrumentalitl
of banks, as now organized, great!
, outweigh all the advantages that th,
public have ever derived from them
But be this as It may, it is the duty o
those who have been ip'rrsted with tht
|high and responsible trust Of legisIa,inl
4 for the good Of the whole people, to al
= tempt a reform Of tho evils and abuse
, Of this 6 strm, and 10 remove,as far al
- practicable, both the means and th
q temptation on the part Of the banks, L
, injure the community they were inteu
:, ded to benefit.
- ADVAN rAGE & EVILS Ol
i APAPER CURRENCY.
II J. am not opposed, as | have berololOr
II stated, to part Of our currency BEN
Il composed Of paper, provided it can b
S made safe, but only TO the excess all
y improper uss Of paper money. 1t shoul
Q never be resoNed 10 bare y for tho pur
: pose of increasing the circulation; an
= when issued, should be equal to IN
Il standard measure Of value, and at d
J, times convertible al The viii ofthe hol
Il der, into silver. Its advantages are nj
J. in furnishing an every day currency
= the people, but in facilitating exchange
J. aiding commerce, trade, and the heav
d business opera,i ons Of the country. U
IS der these restrictions, and for these pu
IS poses and objects, bank paper may |
at highly useful and advantageous to {
extensive, growing. and commercl
m community, such az we have in the [
Of ntcd States The present system, how
ID ever, go far from aiding the commerc'
!. trade, exchanges, and heavy bYsine'
" operations ofthe country, has conlr,
at ry influence, and 1t would seem TO ha
ID in view, as its main object to futni'
70 tie entire circulating medium Of Il
l. country, and constitute new and III
l. steady measure of value, fiuctua',l
g. with every expansion aud coutracIis
mt end subjectng the prise Of every mar
C. property and labor to the will or capri
J. Of a few irresponsible individuals, W
er look alone to their own, and not the i
c. terest Of The public.
ty How are the evils complained of
i'll be remedied? Not surely, by the or
he alton of more banks. and the multiple
ton of bank paper.-If ! am correct
IT, the view which ! have taken of this su
Ia iect, the difficulties under which
oo,,, lnhnvs koua haas ,s,oo 1,