Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1841-12-14

~ 'I' 'a''' afy p'.l y, II NAV pleas
lhe Legislature to adopt rourhrnG lbe
'aWecI Of our currency. IloAev d.
VIded the people OF this State may be
III lheir opinions, as 10 the form 10 which
THIS question shall he ssttIed, there cannot
oe doubt but they are all united in the
desire that it should be finally adjusted !
by the present Legislature, The expi.
ration Of the charter oftwenty-lour out .
OF thirty banks Of this State, in .
January, l843, demands this, not merely
as q measure of sound policy, but one
oil absolute necessity.
The interest and business Of the peo.
pie demand that the capital OF those
banks whose charters expire in lS43 if
at all consistent with other leading con-
alterations should be retained 10 that
business, in some form to be prescribed
at this time. A large portion Of this
capital IS held by owners ID other States.
Should The capital Of those bansk he with
drawn from It's accustomed uses, the
| portion Of il owned abroad be taken home,
aud no means, Of similar investment
provided, results must follow, more dis.
astrous to the State than any, even IN the
the worst times, which it has hitherto Ell.
countered.
In a communication TO a preceding
Legislature, my own convictions and
views on this subject we're full presented
I la raIn 6
banking system, were then suggested by
me. Time aud more rOature r, flaclion,
have confirmed my opinions, as then
formed. 1t Is true. that 10 the detail
which is incident 10 all such laws various
provisions, not there pointed out, would
be required but he great and leading
provisions for The security Of the bill
holder, and to prevent sudden conlrac.
tons or expansions, as there skelched, l.,
still occur to me as indispensable to any
system, especially when LEFT to operate
without tho Influence OF any national
, Legislation on the subject oF currency
Il,2fer the Legislature, therefore, to the
opinlb.ns and reflections con!pined in the
communication embracing this subject,
made by me to the last General Assem-
bly,, for any suggestions which it might
be my duty to snbm,t at this lime.
The great evils attending a susPon'
sion Of specie payments, by large por.
tons Of the banking institutions, call
loudly for the appicatian Of every prac-
ticabIe remedy. Stringent measures,
calculated to compel a resumption by the
banks Of our own State, whilst those Of
several Of the Atlantic, and all OF the
Western and South western States remain
IN state Of suspension, although they
might accomplish much good, would m.
dOubtedy be attended with many evil
results, too obyions TO any one conver
SAINT with the su' jecl, to need enumora =
ton. The legal questions arising out OF
=. the laws, operating upon charters pre-.
vIously granted tend also to emharrass
: this species of Iegi.lati-n. How far the
Legislature can 90, in enforcing reguIa-
lions upon private corporations. where
no provision has been made IN the charters
Of such corporations, for subsequent
legislative control, is a question which
touches the fundamental doctrines Of the
social compact, and is obviously one
= which 10 the end, can only be decided
by the judicial courts Of the country
4 Any law which tue Legislature nigh
+ deem it proper to adopt, with view tC
. accelerate the resumplon OF specie pay
medts by the banks, should most care
fully avoid any Intracl0n OF charters
heretofore granted, as in that event, il
would not be enforced by the courts o
r the State.
Wisely and happily for US, the Con
i stitutiOn has given to the Representative
IS of The people, ample dominion over thu
laws of The land bounded only by the re
4. slrictions contained in the Constitutions
: The executive power is with US, as com
d pIe'eIy disjoIned from the Legislative, Al
Y is that Of the judicial. Our experience 70
q. the last few years, has accumaled vari
If Gus and melancholy evidence OF the evil
q. Of different system. Oar gralllud
$; should be unbounded to those, who i
re- forming the Constitution. limited erec,
10 the power to proper ereCutire duties.
unite with the whole people OF til
!, State, IN the fervent prayer that tn
Il Great Lawgiver of the Universe may =
9, conduct your deliberations. that YOU ma
9 conIer permanent blessings upon tb
ro State, and justly enltle yourselves to th
q applause and gratitude oil our commo
ds country.
Us i THOMAS CORWlN.
90 December7, 1871.
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