Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-02-16
OHIO LEGISLATURE.
HOUSE OF REPRESENTATIVES,.
AFTERNOON SESSION. 'et'A
Saturday, Jan. 80, l94l.
On motion of Mr.. Carpenter, ~


Saturday, Jan. 80, ls4l.
On motion of Mr. Carpenter 3Sa
The House resolved itself into com.
mitlee Of the whole, Mr., Cook in the
chair, on the bill 10 Incorporate the State
Bank of Ohio. a.AH . "
The question pending was on motion
ofMr. Worthington to amend the 37lh
section Of the bill by striking out the
words, "nine suitable persons to consli-
tute said board' (of controD; and insert
in lieu thereof "six suitable persons to
Constitute said board," three of which
should be elected by the General Assem-
bly,. l1nalta '..s' .S2'n - = =
Mr.. Worthington supported his amend
Tneht at considerable length. He con-
tended that the board OF Control exer-
cised high legislative powers, and should
be amenabe to the Representatives Of
the people. ''l - s't ~ E.a-
M. Nye opposed the amendment. FoI
one, he would say, that if this amend
ment should be, adopted; he should feel
indifferent about the passage of The bill.
He considered it one of the most impor-
tant features in the bill Mr.. N. cOnten.
ded that IFS tendency would be to intro.
duce politics into The banking system.
He was of opinion that the state should
be entirely separated from the banking
interest. A,rgsa, ts. a-a ,gj-~e
Mr.. Bell did not profess to understand
very thoroughly the business Of banking
but there were certain essential fea.-
ures upon which his constituents had
expressed their wishes, and he fell him.
self bound to actin accordance with their
expressed opinions. the people of The
western part Of the slate had expressed
themselves in favor of State Bank. He
should 90 for one with the title CORES
QOnding nth The tert--with the bill ilselE
He was in favor Of the amendment
Of the gentleman from Ross
VIII you say the people of OHIO,
from the moment Of The taking effect of
this act, shall have no voice in the regu
lation Of those branches, through their
representatives. 1t is said this board
would be conservative in its operation
He could notdscOver the conservative
principle, although there was much in
this plan beyond his comprehension
This board will bs linked by all the ties
of self-interest 10 the system, ofwhich il
may be said that it forms a part. Mr., b.
also contendsd that its interests being
identified with the original branches, it
would have tendency TO retain and per-
petuate its capital in its present location,
and thus enjoy monopoly of its bene.
fits and power at the expense Of the in.
teresis ofother towns where it'would be
more1requiTed, The power given this
corporation is so much taken from the
people themselves and if the aPpoiRt-
.ment Of this Board Of Control is ssurren-
dered to the Banks, no power whatever is
left to the people.
Mr.. Marsh said his friend from Darke
alluded to this Board OfiCOntrol as though
ii was omuipotent and invested, with all
.he powers Of sovereignty, Mr. M, re-
ferred to the 44th section where power
was given the legislature and, the judges
of the supreme court TO inspect their
books. His, friend from Darke had said
this was termed State Bank, and be
deemed il indispensable thai the proyis-
ions ofthe bill should correspond with
its tile. MIN, did not consider that
the mere name Of the institution was Of
anv great Importance. There, was a
Bank ia the United States called the
Bank Of America, but he did not know
that it's powers were much greater than
the Clinton Bank Of Columbus.
Mr., Bell said that the people had ex,
,nected State Bank in substance as well
as name; al least that portion Of the peo.,
pie be. represented had 80 expressed
themselves. He would call things by
their right names, Many Of the local
banks mad not fulfilled tbeI expectations
ofthe people. He referged:to the Stale
Bank ofIndiana, which had 50 far been
benefelai bscaase itseHipgsdihe credit
oF the Staters .aaIi s9s 3. 80 sasQg al :.
s9sAfisr some sFeraTts, from Mr' Nye ~
oppositi9a o, khe am snd1en1,, $500 aAsI
eai OnmptiOn of MI Hewklnq,ll sas sir