Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-07-29

- 10 VI 'lA'b"N ' ''ll.'Hf ' tl'TF l''''
very period Of scarcity and demand for
money. as the one above ali others
most suitable for a general res Impgion.
No discrimination was made IN favor Of
the State 10 save her from Disgrace;
none 10 favor OF those which had acted
within the legitimate limits Of their bu-
%slness, by advancing Iarge sums TO car.
ry of the surplus produce Of the coun.
Try. The decree went forth; unmiri-
gated, (erocious, relentless. They were
to resume forthwith, or to die the death
of MISUNDERSTANDING hundreds Of
thousands Of dollars oil their paper dead
IN the pockets Of the people. Fortu-
naleIy for the community, most Of the
banks were able to sustain themselves
it the crisis thus produced, and we have
been saved from a scene of ruin and
bankruptcy such as this Stale has never
witnessed.
10 the surrounding STATES, both poll
tical parties have sought to cherish and
sustain their banks. They have requir.
en- them to 60 into gradual or partial re.
sumption, or to cooperate with neigh
boring banks in bringing about a general
resumption, They have appointed LIE.
gIsIatIve committees 10 examine them;
and when found 10 be solvent, have as
sured the people there was no danger;
and thus increased public confidence in
their own institutions, Instead Of de-.
stroyiDg it., By these means the banks
have been enabled 10 resume, and at the
same time TO increase their discounts
and relieve the distresses Of the people,
The banks and the people are friends;
and they mutually aid each other. The
democracy Of Indiana and Kentucky,
with Col, Johnson at its head, are quite
as pure and as intelligent as the demo-
Gracy Of Ohio. Why is their conduct
so different from ours? Are they wiser
than VIC? Let impartial judges deter
mine between US. What good has re.
suited TO the mass Of the people from
resumption? Il is said the paper is bet.
ter now than it YVES before; so it is; but
where is il? There is not one dollar
in circulation now, fer three there was
before the resumption. We must on
sole ourselves, however, with tae glory
acquired 10 conQuering those bloody,
minded corporations; and still live in
hope, that the long promised gold and
silver will make It's appearance in due
time.
The next great measure Of the last
session was the law to regulate banking
IN Ohio. You are already apprised that
| have no objection 10 most OF the proyi
sioas Of that law-taking them as pria
ciplcS that ought to be Incorporated into
a new system. But if there is only one
provision in law, that seals its Condem
nation, by making the whole impractl-
cable-thOt is enough to arOuse oppo
sition from every part Of the State
Suppose the whole law acceptable, until
We arrived at the last section, which
provides, that every man convicted OF
being the owner Of bank stock should
90 to the penitentiary for ten years.
would any one either support the law
} or believe that those who made it were
, really bank men and desired to see a
= new system established? But what wa,
, this law? 1t neither operates upon the
present banks, nor creates any new
ones. i; is, in reality no law; for il
neither operates upon persons MOI
! things. 1t is Of no more force in the
State Of Ohio, than a string Of resoIu-
tons passed at a township meeting.
is intended 10 be a general law too; anC
r therefore, if banks were put in operation
9 under it, and the wings should get init
= power, thty wouId repeal il, aud the very
next session give these banks just suct
powers as they pleased. So iClhe hare
money mem should get control Of th'
legislature, they could repeal it, ant
G abolish all these banks! TO proven
such c~alaslropheS, ! suppose the author
of this financial scheme intended, tina
from this day forth, through all lime
d the currency and the banking system
$ are to be a political hobby in every cam
S paign; are to be fruitful themes 70
stump orators and newspaper editors a
every election; and subjects for youn
political surgeons TO practice upon,
&, each succeeding session Of the LegisIa
ture. The Banks are 10 engage in pc
r litics in self defence, and the State is t
be kept in a continual agitation; bust
e ness men OF all parties kept in a stat
n Of suspense industry and enterprise ar
TO suffer an uninterrupted paralysis
C brokers, shavers, %saIaried officers, an
" Spectators are 10 flourish, whilst tn
n debtor class and the poor Iaborer ar
ground 10 powder-and IelI for The pu0
S pose of enabIinga few political theorlsr
o and charIalans to Try the effect Of theI
If .,n.h .,,,,li,o uD,r tho h1Iy pnlItu