Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-12-14


means Of similar investment provided,
results must follow, more disastrous to
tho State, then any, even in tho worst
times, which it has hitherto encounter
ed.
In communication to preceding
Legislature, my own convictions aud
views on this subject were fully presen-
ted. Plans, for the permanent reform of
our banking system, were then suggested
by me. Time, and more mature reHec-
ton, bave confirmed my opInions,ss then
formed. Il is true, that in the detail which
is incident to all such laws various pro-
visions, not there pointed out, would be
required; but the great and leading pro-
visions for the security Of the bill holder,
and to prevent sudden contractions or eX-
pansions, as there sketched, still occur
10 me as indispensable TO any system,
especially when left TO operate without
the influence Of any national legislation
on the subject of currency. refer the
Legislature, therefore, TO the opinions
and reflections contained in the commun>
cation, embracing this subject, made by
me tU the last General Assembly, for any
suggestions which it might be my duty
to submit at this time.
The great evils attending a suspension
ofspecie payments, by large portion OF
The banking Institutions, call loudly for
the application of every practicable rem
edy. Stringent measures, calculated to
compel resumption by the banks ofOur
own State, whilst those of several of the
Atlantic, and all Of the Western and
Southwestern States, remain in state
Of suspension, although they might Oc-
complish much good, would undonbted
la be attended with many evil results
too obvious TO any one conversant with
the subject, to need enumeration. The
legal questions arising out of the laws
operating upon charters previously grant
ed, tend also to embarrass this species o
legislation. How far the legislature car
90, in enforcing regulations upon private
corporations, where provision has beer
made in the charter of such corporations
for subsequent legislative control, is
question which touches the fundamsnta
, doctrines oftho social compact, and is OF
viously one, which, in the end, can onl
. be decided by@the Judicial courts Of tn
country. Any law which the Legisl'
= ture mil ght deem it proper 10 adopt, wit
f, a view to accelerate the resumption {
=. specie payments by the banks, shoul
, most carefully avoid any nffacton {
. charters heretofore granted, as in tha
, event, it would not be enforced by th
]. courts of the State.
. Wisely and happily for US, the Constitute
has given 10 the representatives of the peopl'
4 ample dominion over the laws of the land, bour
! ded only by the restrictions contained in tn
: Constitution. The executive power is with u
A as completely disjoined from the legislative, I
:, is that of the judicial. Our experience for Il
: last few wears, has accumulated various an
Q melancholy evidence Of the evils OF a dliterer
Q system. Ourgratitudo should be unbound"d
d those, who, in forming our Constitution, limtte
!, erecutire power to proper erscuttUe duties.
unite with the whole people of the state,
II the feryent prayer, that the Great LawglV
y of the universe may so conduct your delioer
o tions, that they may confer permanent bleEsin
" upon the State, and justly entitlS yourselves
the applause and gratitude of our common on cGn
:, try IhONA0 NOiN w A-''
H. December Z, 184G.