Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-04-13
VESTED RIGHTS y

u
ago, passed an act prohibiting the que
Of any bank notes of less denomina lion
than five dollars; and a proposition is now
before that body to repeal it. In allu-
sion to this subject, the Cincinnati Re.
publican expresses the opinion that the
prohibitory act is unconstitutional, be-
cause it is violation Of the vested
rights" Of the banks.
Let US trace the ",vested right" TO itS
source, and see to what results the doc.
trine avowed by the Republican leads.
Tho right to issue notes, or to use ones
credit, is not originally derived from the
laws. 1t is incident to tAe social state
and belongs to every member of the com.
munity, unless prohibited by law There
is probably not state in the Union whose
statute book does not contain acts pFohi-
biting private banking, or the issue Of IN.
dividual notes as currency, The exis.
tence Of these laws is proof that without
them every man would have right to is,
sue his notes, either severslly or in part.
nership with others, and avail himself to
the utmost, Of the credit he might pos,
sess among his fellow men. The right
TO use credit, therefore, in the shape oi
notes TO bo circulated as currency, il
not a right derived from the laws, but be
longs TO every man in state Of society
until that society, through its Legislative
power, deemed il expedient to take i
away.
What is bank charter, so far as thi
question is concemedi 1t is q law rc
storing right which the law had take
away. II is a law restoring to a few,
right which the law had taken from tn
many. 1t permits few 10 issue thei
notes as currency, which all might do,
there were no law forbddingit.
Now, can this restored right be NOR
sacred than the original right3 To us,
il without restraint, was originally tn
right Of all; it has now been converte
into the privilege Of few; and is III
privilege otthe few more sacred from le
gislatiVO touch than the right Of alt
1.-THE Legislature should pass law o.
its face authorizing every man 10 issu
one dollar notes for twenty years, hun
dred years, or forever, would any ma
possess the right in greater degree thai
be would have done if no laws aeains
private banking had ever passed. Woul
il be more or less than restoration by Law
Of a right which the law had taken away
; Would it be vested rghi--a right vsst
ed by higher authority than the laws O
God and man, under which we Originally
held thy an authority 50 high tina, so
ciety itself cannot reach il, however IA
tai 10 its best interests may be i,s exs
, tcnce and exerCise3
None can 90 farther than we in prOtec
! ting the rights Of property. He VIII,
strikes at those rights strikes at the foun
dation Of society, and whatever he ma,
think Of himself, is particularly an anar
! chlst. But we view in q different ligh
those contrivances which convert thu
rights Of all into the privileges of few
and then, under the name Of "Veste,
; rights" attempt TO place them beyond tn,
reach of society itself, It is The princi
pie on which nObillties, hierarchies, an,
, thrones are built up; the supporters o.
which long Knocked mankind with the as
sumption that these usurpations over ner
we're rights derived from God. Minds O
the same cast in our own country dar,
not hook their claim to the EterDa
Throne--but they attempt to fined in mi,
air, in the "perfsction Of reason" as III,
common law Of England Is sometimes
9 called, principles and practices by whicl
: they can still maintain the dominion o
I the few over the many.
Common sense is, or should be, th,
common law of all mankind. If any prac
IS tlce ofthe many or the few. whether foun
y ded on the principles Of society itself !
, sPringing out Of particular laws. Sc fouD,
rulnouS to the safety and riCb,s of ~,