Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-05-31

Iy secure, and enable him at all times Il
convert the notes ofthebank into specie a
will,-would you refuse them a charter
Do you or does any democrat mean tc
say-that this law contains all the wis
dom. on the subject Of banking, that the
world can afford: and that if monied nel
will not accept it word for word-as il
stands on the Statute book, that there
shall never be another bank in Ohio!
presume no one, who is, sincerely, what
we have all professed to be for several
years, a bank Rsformer, has as yet as
sumed this lofty position. Those among
us-ifany such there be,-who have been
playing the part of political hypocrtes-
pretending to be RefoImers, whilst they
were really Destructives, may have taken
that ground. But when these individuals
are stripped of their disguise, they will
soon discover that they belong to that
class of officers, known in the Army as
"Supsrnumeraries," holding commissions
and receiving pay but without either Com
plnies or Regiments 10 follow them -
All that the people require is TO be made
safe in regard'to Bank paper. That is
their ultimatum; and they delegated no
authority to their Representatives to make
any other. The mode Of securing them
is a matter of total Indifference. They
are opposed to the present system, be-
cause they are not safe under it; and un-
less a new one, when proposed, is such
as to inspire general confidence by its
safety and security 10 the bill holder, they
will not approve it; and it would be folly
in the bankers to ask for a system without
such security; for it could neither be last
ing nor profitable, unless sustained by
public confidence and appreciation.
| may be asked, whether | object to
The doctrine of "individual liability! |
answer emphatically--no; not even to the
most unlimited form it can assume,--
provided, any body will take the stock -
The best plan for the bill holder. would
probably be, to make every man who own
ed hundred dollars worth Of stock, liza.
bic for all the debts Of the bank, in the
first instance. The bank might be twenty
fifty, or hundred miles from the bill hol-
der, who had on hand some five or ten
dollars Of its notes. Why put
him TO the trouble of going all the way to
the bank? Let him call on his neighbor
who held hundred dollars worth of
stock, and demand the specie; if he re-
fused to pay the ten thousand dollars, sue
him in court; get judgment the first
term; permit no appeal; take out execu-
lion; levy on his farm and sell it without
This would be prompt and
efficient remedy, But do you know any
democrat in Fairfield county, or else,
where, who would he willing to take
stock in such bank9 Would any man
1ut lunatc take it2 Individual liabii-
y, to be practicable, must be modified,
so and so modifed--that "honest, pru-
lent men of property" will bo willing to
AXE the stock; otherwise it amounts to an
lbsolute prohibition against banking of
my kind. Do any of our party mean to
prohibit banking altogether? Let them
ZONE out like men and say so, and make
he issue, ,---"BANK OR NO BANK" and not
,e guilty of the meanness and cowardice
# pretending TO be bank men, whilst
hey are inducing the confding, inexpe.
fenced and uLwary portion of The do.
nocracy TO agree to restrictions that the
pre-wolkers know will not be accepted
y any man, but "rogue" or a ''bank-
up'."
Has the individual liability principle
een properly modified in the Bill of last
session? That is question which re-
Mains TO be answered. We're any cap,
alisls consulted before the law was pass
d? Have they any whore professed a
willingness to take stock underit? ask
or information. Ifthey have, it has not
ono within the circle ofmy intelligence.
Very man ofproperty, with whom | have
onyersed since the last session, has de.
Jared his unwillingness to take stock,
nth this feature in the law, in its pres
mt form.
Money can now be loaned at l2a per
ent, secured by Mortgage on real es-
lte worth double the sum loaned. i'll |
ad hundred thousand dollars, | could
IAN it in one week upon these TERMS
ianSing under safe system, will not /
ield more than ten per cont 10 stockhol. J
ers. There are no large capitalists in {
)hio, and bank stock is made up of small ,
ums subscribed by great many indi- {
idulls aided by capitalists from abroad
'erhaps one halfof the present banking /
apital of this State is owned by non res
lents. In an old and rich country, !
ank can be put in operation by three or t
our wealthy individuals, living in the {
anne town, who have known each other 4
rom boyhood, have un6ounded conf. !
cnce in one another, and who are in the s
ank, supervising its affairs, every day
4 The year. To them, individual liabili- 1
no more than a partnership ia selling
oods, or in any other business They