Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1841-10-12
sI.O91.3lO


There goes over a million of dollars in week
This sum was drawn from the banks by their agents
and shipped to foreign countries, for what Be
cause the people suffer the banks TO refuse to pay
their debts on demand. which taxes them, the peo-
pie, at least. one per cent; and by making specie
an article OF merchandise, the bankers make
about per cent more. This Is very low cal
culaiion Thus. these bankers, having the peoples
money while the people themselves hold but TIN IT
fathess promises, are enabled to live, To grow ch
and fat on the fruits of their labor. And while the
mass Of the working people. the farmer who raises
or creates the real wealth of the nation finds II al
most impossible to obtain money enough to pay his
taxes, these swindling institutions are collecting IT
and sending of the country for their own gain.
w i'll the people, them longer sanction the suspen-
sion of our banks Will they sit still and see them
selves robbed with impunity, while the bank nabobs
set public opinion and law at defiance for their po-
litcal and pecuniary purposes, and not make an
effort to prevent il. VIII they not instruct their
servants to ascertain if our Bank is dishonest or
bankrupt,
Ii the federalsts have their way, and go on
shipping off specie at the rate Oh upwards of mil
lion of dollars a week. how long will it be before
those banks uhich hare any specie will Jiow up by
it's being drained from their vaults J And who
then will be the losers. Now, it is almost Impos-
sibe to find specie enough for common market pur-
poses while the laboring part of the community Is
swndled more or less nearly every day in the year
by the bio,o mp of some irresponsible rag factory
and swindling specuators are flooding tie country
with their worthless and spurious trash.
We charge it upon the Legislature that immedi-
ate and unconditional resumption ot specie payments
must be enforced on Bank. No excuse what
ever for contrary course, will be received by the
people. They have tired. experimentally, the argu-
ments used by the last Legislature, and have found
them false. They told by those ~ise states
men, that the issue of small notes by the State
Bank would drire out the small of other States
and shinPiasfers. Yet they proved. by their acts
that they did not believe it would drive shinpiasters
out for they passed law making 1T penal To issue
or pass them. How far their predictions have been
fulfilled every one knows. The time never was
when our State cursed with such a currency
as she now has As we, in common with large
portion of the Democracy. ore,old, IT has been the
means OF banishng almost every dollar of specie
from circulation. and OF filing the vacuum with rags
of the most worthless description.
Hence we contend now, that nothing but resump-
ton by the State Bank will have the least tendency
TO correct the currency. 1t is folly for the Bank tn
saw IL will resume when the Ohio Banks do. As
well might John Wood make the excuse.
Next year the charters OF many banks IN OHIO, now
forfeited, will expire. Two years hence, If the
people of Ohio carry out their measures of reform
IN the banking system she will be clear Of the curse
of it. 1t Is folly To say 1t Will resume when the
State Bank OF Illinois resumes. The State Bdhh
of Illinois nerer ,rW resume Michigan has no
thing to resume. Why then should not the State
Bank of Indiana resume at once What Is there
to hinder Is it because It's farorues must be saw
cd Because they cannot pay their debts to the
Bank Why dld the Bank trust them To such al
extent and refuse the farmer the smallest pttanct
craved. Aye. there's the rub Either the bank
or It's favorites must uP 10 The scratch, or botl
will sink together. Ii the bank would save itself
IL must sacrifice this better cilss-few, indeed THANK
Heaven. Otherwise, IT sacrifices itself and the
interest of the people. :. 1t is better 10 lose HINT
than that the whole body should perish" Let
then this be our watchword-
RESUMPTION BY THE BANK.