The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-06-24

the States in the capital Of the Bank this take in
such States as viii slahd out their PRINCIPLES. 1hi'
bank capital for the States 10 10 be provision for ray.
ug interest ON State debts 10 effect assumption Of
use debts and brae them and all tue holders of State
stocks IN make common canse in subverling the Con-
sttution of the country. Blu, give the measure
proposed, having only time to listen to it, uot 10 read it,
Our impression is tina, will he foundthe most gIgan>
tic scheme decentralization and corruption ever sugges-
led in this country. scheme thus calculated 10 cor"
rupt the State Goyernmsnls oead to consolidation. d
to PROSTATE the restrictions of the Constitution. cannot
be tolerated by the States Rights Democrats. If we
thur permit the District to be made the point on which
the lever of Archmedes is to be planted, 10 move the
whole Union, where is the end to the power Of Con-
eress. thus located and thus affecting the rights and
principles and interests ofthe States r
The Philadelphia Times sayS:-''itn "a grand nsIru-
ment. by means Of which few members Of Congress
with ordinary shrswdness may manage the whole i-
nanca operations of this republic, may iats the rch'
with huge loans, save the poor Of their little earnings,
expand the currency until their pockets and the pockets
oftheir frierds are filled to repetion, then contract u
and make beggars ofevery body ese who may be fools
enough 10 trust to the veracily Of its appearance
'The plan is in truth an union ofmeasures, Federal
n essence and hostile to every principle Of free gov
ernment II is unconstitutional all its elements. Its
location IN the District Of Columbia could not relieve it
from that reputation. Congress has right to charter
bank even there. The Convention which framed
the Constitution repeatedly refused to grant, to Congress
the power ofmakng corporations in that District e.
ven for purposes Of Internal Improvement and whyl
n NJ IaA dIu ua M
might be employed in the creation of bank How
theu can Congress take upon tsefo do that the right
to do which was especially Withheld from it, by those
who frs, gave it bengl Congress has no Constitutions
al power 10 grant an incorporation of any kind, and
yet it seems under the denomination ofa Fiscal Agent
the Secretary thinks the Constitution may be evaded.
and an incorporation the most hldeous land mons
Strous kind cunnDgly erected. ..
1T is also ridiculous e pretend that such an Agent
the Secretary scheme presents is at all calculated to
diminish the abuses Characteristic ofal great banking
institutions II is impossible in the nature Of things to
keep bank honest. Some mode has ever been found
to evade the provisions ofthe Constitution and il is mo-
to be supposed that that after the less afforded them
BY the honorable gentleman himself that the wre-pul
lerS of the Fiscal agent would overlook neglect
make use ofany similar advantage. In short, look at
it as you will the cloven foot Of Federalism is plainly
exhibited. "Overtrading, excessive issues, Aucua,
tons in prices stocks and consequent speculation"
are the inherent evils ofhe whole banking SYSTEM and
not to be remeded except by its thorough caueriza'
| tion
TO conclude we hope we may never be called upon
TO record the passage oa law incorporating this Fiscal
Agent tits monster of the worst aid most vru-
lent description The old u. S. Bank with all its rot
,enness was nothing to 1t. Onceget it into being
and will ride down rough 'shod the liberties of th'
people, trample on the Constitution, make and unmak'
our State and Federal lave, manage elections, put it
vorite candidates into office, and exhibit itself the boil
des and most conSummate engine Of political tyranny
that free country witnessed, or free people
| Or endured.