The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-11-04
SPECIAL. CnlIpr
THE pUTY or rae DEMOCRACY.

The people of this State have Leen and are now
suffering severely from paper currency worthless
as any that disgracsd cviised society," Bank ras
cality has reisned supreme. Imposition and robbery
has been to every mans door, and the poor and work.
ing classes have been swnded so oen and with such
bare faced eontery, that il is wonder they did moi
rise IN mass to put down by physical power the hOrdes
ofpaper money impostors that infest tho State. But
they did not do it, they rather seemed to say wat and
bear it peacebly, it is an evil that will work its cure.
1t can only reach certain height and then reaction
must come" Their saying has been fulfilled. Bank
robbery and bank rascaliiy has reached it. height 1t
ran gonO farther reaction must take place. reform
must be had.
All parties agree to hts-cven the most strenuous
Of The bank party acknowledge this fact that there mus,
he reform. That reform come from tho action of
the next Legislature Consequently, the hopes of the
people now look TO the Democratic majority to come
boldly up to the work-todo their duty, AID quickly
apply the mcslon knife deep into the wound. And
will they shrink from their day-rom the responsbilty
that now tests upon them-wil they disa point the peo-
pies hopes and adopt some milk and water measures
that will leave the people years 10 come just where
they now, under the rule of awless and corrupt Il
rotten corporationsl Most assmedly not! Something
rigorous energetic, aud wholesome, must and will be
done.
What will it be- is the next query. A State Bank is
out of the question, for the people put their reo ON it
at the late election To rcclarter any OF the prssent
Banks would be suicidal, for they have ALL or nearly
all forfeited their charters by suspension. To charter
any new banks would be but entaiDg the present curse
fr we have too many banks by wo-thirds already In
this dilemma whatis the remsdyl 1t is. to charter no
new blnks-to re>charter old ones--BUT TO
FORCE AN IMMEDIATE AND GENERAL RE,
SUMPTION OF SPECIE PAYMENTS throughout
the State Make every bank redeem its notes with
gold and silver This is the remedy, and by lis opera
tion all the honest banks (fthere are any would be
discovered by their conforming to tie law. The dis-
honest onss-hose born in fraud and which have lv.
ed by fraud would go by the board and be wound up
Should the legislature do this, and the people sustain
tho movementby refusing a. all notes except those
ofSpecie paying banks, six months time would bring
us currency equal to that Ofany State in the Unlon
For this reason. Suppose but 10 out ofa the banks
would be able to resume; they could amply supply the
wants cft the community. Their notes, as good as spe-
Gle. would gain the public confidence and be taken free
ly. But suppose not single bank would resume-all
60 by the board. So much the better The State
would then be supplied by eastern paperpaper ofspe-
Gle paying banks, the specie ITSELF Michigan at
this time; where they have not a Bank in the State
worth four pence they have currency equally good
with Naw York.
The idea that some have, viz five have no banks
we have no money, is entirely falacious We have
produce to sell, and the money will always 20 where il
is Tho laws of trade prove this. Tue the present
banks all should fail under the resumption law, the peo
pie would suer-tha the note holders-buti it would
be small in comparison to tho gain ultimately and the
knowledge of sound currency hereafter. The notes of
the Ohio Banks at this time in circulaor are very little
more than the specie and depostOS in the vaults Con.
sequeny, were every bank to shut up on the 1st Jan-
ary, and their notes be the peoples hands, the loss
thereon would hardly exceed half million. And had
not the people better suffer amputaton at once than to
be putting patch upon patch sore that is getting
worse and more dangerous every dayi
We erepeat then make the banks resume or blot thsm
from existence To obtain this reform every good citizen
ought to work. The time is auspicous for 1.-THE La
boring classes demand il; and as it is in their power, so
Is it the duty oflhe next Legislature, to givet.
Let the motto be, "Specle paying baEks or meme at
al.'