The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-05-19

Wheh addressing the people during the canvass, II
was my uniform practice TO explain that we were for
seeing how much authorized capital night be taken un-
der existing charters and whether that was or was not
equal toi6e wants Of the State, before any more was
auhorized even with the restrictions above recled
The Federal presses and The Federal candidates, then
as now. distorted abused, and yl6ed the doctrines Of
individual liability. 1t was then declared and now
reahrn that the principles of individual responSalli-
w. arranged as 10 be Just between the bankers shall
never be yielded BY until its virtue is fully tested
Whoever might have entertained the idea Of making
the State ,toekhoder to bank bearing its name,
even to limited extent must have abandoned II when
they discovered that less than year of the Corwn
administration had reduced the State stocks 81 cents
on the dollar. Certainly no man would desire the State
to borrow money ut loss OF one half and pledge the
peoples farms and their industry fO its repayment with
interest, TO obtain funds build up system OF bank
ing.
A majority of the last Legislature are no doub: in
favor of restricted system o. bnkIng that will com
bne the two great principles Of safety TO the bl.hod
ers and far profit to the banker, and at the same
time furnish currency convertible to specie at the
will of the holder aud for that purpose they passed
law to regulate banking in the State Of Ohio. That
law, is perhaps in respects imperfect as all hu'
man laws are and it will he the work Of time and ex-
perence to prune and perfect il! Who would think of
oblteratirg it, and going back to the old sYstem3 No
one of any party who think correctly. What. return to
the old system which has been The parent of more
fraud, perjury and moral polluon-and has ruined
more honest and Industrious men, and beggared more
widows and orphans, and caused them to drink deep
or of the cup of human woe than all the counerfe>
ers, thieves, highwaymen and murderers, that have
ever infested The land Shall we return TO that sys-
tent The united voice of the people respond, neve
1t s but the initiation and expulsion of that system
which has produced the Indebtedness and pecunary
embarrassmeUts under which we now labor anc the
question for US to decide, is will we restrict and
crush the monster, or will toll to e>nsiae him. and
turn him loose to reenact the same scenesl This
never be. The spirit of reform is abroad in the land,
and its march is onward, and no democrat, not one
Of the gentlemen composing the West Union meeting,
will desire to 60 back But proposed 10 define my
| own position. not to write essay. Then am for
Shannon and Bank reform-for limited and restricted
system Of banking, with full aud completely Eindividua
liability, ESQ arranged to be just between the sock-
hOders,) to secure the note holder against any
possibility Of loss the whole to be under the guidance
| Of law This system think will work we'll IT, when
it tried does not then am for circulation Of gold
and Stlor only .
10 our friends abroad let say, there is no dan
ger of division in this distric-no danger Of any ALI"
| ances being formed with the divided and discouraged
opposition party.
! AT least so believes,
Your obedient servant,
w. H. BALDWIN,
Blanchester, Clinton Co.. May 9Th, 1s42.