The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-12-09
EXCHANGES WING EDITORS-AND BANK
DIRECTORS

Ifa person wants draft on New York, or Philadel'
phia, he get at the Massion Bank by paying IL
and Is per cent That is, it takes lis dollars Of Ohio
paper, to buy 100 dollars of New York paper. WHAT
is the cause of this9 Why is it that the currency of
Ohio is much under the currency of other Statesl
Ohio raises more wheat than another state in the Union
her exports f produce far exceed the imports omer
chandse-her citizens work as hard live frugal and
are as honest as the citizens oauy State yet they have
currency worth Ii per cent less than that of eastern
States.
Some say it is the want of a National regulator-ana
tiona Bank-that makes the difference in exchange
Tho history the last Bank proves that instead of be-
ing Regulator, she done more to unregulate exchan-
ges than all other causes combined. During the most
pamy days of her existence the exchange states
was as high 90 and 25 per cent, at New York, and
Philadelphia. We challenge contradiction on this
point.
Some say it is the want of a State Bank that makes
the difference in exchange. Indiana has state bank,
Illinois has state bank Alabama has state bank, and
yet the exchange these Staes is nearly if not quite
as high, as thai of Ohio, Others charge 20 the
Legislature, and say it was nkering with the curren
cy' that made the difference. Ifappoinng Bank COM
misioners, to examine into the condition of Banks-if
passing law to prevent banks from suspending spe-
Gle payments beyond 30 days, deranged the currency
and made the difference in exchange, THEM why is it
so NOW, when all those evils ure removedl For it is
well known there is now no Bank Commissioner Law,
nor any law able to make the Banks resume specie
payments, they having ramped it under foot
it was passed.
There is aaoher cass-depraved and corrupt whg
edltors-who blame the Democratic party the whole
country with having made Ohio paper worth Is per
cent less than New York. To show that such is tho
case, we quote from the last Tuscarawas Advocate.
Patrick, after stating the rates Of exchanges OHIO
bank bls and doing over the ''deporabls state of the
currency winds up as follows:
"Who are to blame for tl Ask, who has had the
ruling ofthe country for the last twelve years. The
Vanocracy-the Simon Pu:ss who created the curren-
cy and have made hobby riding into office by
sing the work oftheir own hands,"
The absurdty Of the above is only equalled by the
inpudence and depravitv of the one that uttered it,
Is there sane man who believes that The Democratic
party-ha party which has ruled The Country for the
last twelve years. have conspred 10 ruin Ohio, and
build up New York; No, not one. Patrick himself
does believe it and his only motive saying SO,
was to deude his readers; to deceive them, to humbug
hem to warp their prejudces, to keep them Ignorant,
that he and the notorious band of office holders in NJ
Philadelphia might rule this county, and revs and ri-
OF forever on the Spos and punder, wrung from the
hard working tax payers and laboring men.
No. Amongst all the alleged causes of depreciation
in Ohio paper as set forth by the Whgs net one is
correct The Bankers themselves have caused it. II is
part and parcel Of their trade; ofhe grand system of
paper money swindling and robbery ofthe producing
classes 1t is what they have done in other States. 1t
is what they doing in this State. 1t is what they
will do in every State, ifonce allowed to rample over
the laws and bank ride the people.
That the Bankers have brought about the
depreciation of Ohio notes. and the difference Of TO- IL
and Is per cent in the rates of exchange, think we
can show. The ChiIlicothe Bank recently shipped
ONE HUNDRED THOUSAND DOLLARS in spe>
Gle to New York. And this too, when she refuses to
redeem her own notes-when she is in state of sus-
penson-when sheis putting out notes by thousands
when she will not sell 100 dollar draft on New York.
for less than ITO dollars of her paper-and when
the Bank bought presses crying out that the Dem.
ocratc party have ruined the currency, ruined Ohio
paper and RAISED the rates of Exchanged Was ever
such impudence offered to an intelligent peopel
Again. citizen ofths town owed a Director
the Nasslllon Bank (who also lives here) about $780,
Last week the Bank Director called on his debtov and
stated that ho could receive nothing but paper which
goes at par in New York; or in other words, he must
have the difference in exchanges which would a.
mount to $4S He was asked to take Mdsslon paper.
No, Massion paper better than any other, and
he could mt take unless he got the difference in ex-
changes on New York. Here we see a Bank director
protesting his paper, endeavong to deprecate it
and make 1t still more worthless than it is We Sc
Bank Director who has helped to food the country
With lying promises refls ng to take them back unless
HI gets lis dollars for every 100 dollars lie issued.
Aud we see a corrupt press not hundred yards from
were he lives, bawling out that the Democrats to
blIme for the dferen &C in the rates ofexchangel
u the other Directors of that Bank pursue the sare
policy, Banking isa money making business surely!
aOd there is doubt but they al busy in running
down their paper-busy in shipping specie to the east
busy in this wholesale business ofrobbg and punder.
ing honest men, and their presses are busy in defending
them from JUSTICE the peuiten larry and the gallows
Whom will the bank ridden people of Ohio, shake off
the yoke tina, bows them to the groundr How much
longer wall the many suffer themselves to be made pack
Horses for the few to whip and spur aud gall and iadel
Woul toGnd, TINT couid only see the beginning of
Hs end Of Bank thradom and paper msney despotism.
I C,NE OF THE uDFCENCY pAnpX,