The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-06-17
Nh TvLER,s MEssAoE-THE REsTRIcrroN
OF THE BANK MAKING PowER-iTs UTILl-
- ,,,,o IMpR ACTICABILITY.

or THE BANK MAKING fowER-lTs OIiLi"
TY, BUT IMPRAcTIcABILlTE.
The only novel idea put forth by Mr. tyier
in his late message, was that OF compact a.
mong the States 10 correct the unlimited cre-
o,;on ofhanks. II is an honest idea Whesh'
., il was honestly meant or not, we cannot
u,a,end to say. Perhaps it was mere trick
r. chime in with the popular feeling against
hanks. for Mr.. Tyler we'll knows that scarcely
n ,nao can now be produced bold enough 70
stand i'm for these monied corporations in the
abstract, We heartily agree with the New
Era in i,s observation that "paper money 10
its bcs. possible aspect, is cheat ana Nc
bet,er calculated than any other means, 20 Ter
tal,ze the rich mans field by the sweat OF The
noor mans brow;" that "the only currency
we wan, is the currency provided Tor US 10 the
| Go, stiHtiou--that which moth ehd rust can
not corrupt, and which cannot be suoJec' 10
.otber revolutions and fluctuations than those
(Which nature ordaiDs." Any measure, there's
Cor. which goes TO restrain this crying evil,
N on, short, its power of deffaudlng the Peo-
rle. and turning The citizens OF our republic
Into on. va $, nation of seeculatore, rogues and
deCaulters. must receive our hearty assent,
.honoh i, emanate even in Jest from the llV-
;nc mead Of the great dynasty Of mOney-chan-
gers.
banking system, and thorough reform can
M, be at ouce affected, We are willing TO see
The good work begun BY TIE application oil
wboiesome restrictions. We have too many
hanks There can be no doubt about that
O,s-four,h The number would answer every
nsafnl nurpose, and they should not be per
mu,ed 10 issue single dollar in paper whlct
they had not secured by acorresponding oo
:, lar in specie in their vauits. There 10 epec'
enough ia the country for the transaction
business without bank notes at all, hui II W
must have the latter, thcy should be capao'
of redemption in tho precious metals al al
moment they might be demanded. Inc leg
u ;s,a,ures Of The several States have had tn
bank-mauia upon them for the past few year
& Their members have been so brbed by "at
y commodations" and by ''buslness loans" ar
o b.wiIdered 5y speculations and dreams
N Ismillious" in prospect for them, that scarce
! sane one was 10 be found, until within I
y current twelyemouth. The bubble has nj
"a hursied. Hundreds Of them have sunk "
~ their neighbors in the general rum: In
on are sore, dispirhed, and sexed. They
as ready therefore for reform. Now then Is
time 10 aei,ate such restrictions. bel
~ onDortunitT could not occur il we would v
,ly for years. Mr.. Tyler says it ''can be rea'
ng achieved BY the consent OF the o'a'es' 10
a. exnressed in the form Of a compact am
hat themselves, which they can only enter
with the consent and appreciation OF this Y
eminent: consent which might in the pre-
'es' emergency Of the public demands, luslh'
ing he given in advance Of any action BY
me S,aiesas an inducement 10 such action
,erms well defined BY The action Of teI
70 Such measure, addressing itself 70 me
ack veAection of the States, would find 10 the
ada nerience OF ,he past, and the condition 0
10 preseut, much TO sustain II"
Sad We concur, although al the same time
nlng doubt The prac,icability Of the scheme.
len' would gladly sse il accomplished. We
IN ,be p,esent an excellent chance for attem
en-" 4. Sin we are apprehensiye that the
will NOT yield one iOta more Of their rig
= The general government; and though eac
'T%,a %ha protest itself extremely anxious TO adopt
.aa" an arrangement, not one will be will
etep for ward and enter the compact foF ilt
p.o n pletiou. Mol mol we must not expect
= ,S things until Legislators grow honest, az
= n.;, ~ must not expect honest legislators unit
! | snI chief questions propounded BY the 7eoPll
80 @ candidate who may solcis their svil
.ns. shall be moi only, is he honest J is ne q
49,. 49, butts he indebted to a bank y
I O'SS Sis suscptible 70 bank ineasHess Spirit
L. ~ Iinfa.