Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-07-05

new in such arts. They have long beef
resoTied to by small rate politicians
whose principal object was tho 'eoaye
aud fishes" Of office, and who were no
very scrnpulous about the mode of OBJ
tanning them. lfyOu DO really prae
/ iise This kind of political trickefy npor
the party TO which you belong; dare say
that in doing so you have an eye 10 Iii,
"recompense ofreward", and some pallia.
tlon is TO be found in the fact, mat the
office OfState printer is lucrative one
and may be regarded as a stepping stone
to a still higher pos, for which it is
thought you already fselthe paintings OF
young ambition. ~ =
AS you are no doubt fond of history
and would read il If some one would TAX c
the weight Of the Government off youl
shoulders and give you an opportunity to
do so, will take the liberty of refreshing
your memory with few "reminiscences
that may be useful. From 1885 TO 1871,
the democratic party have gone into every
elect!oneeriDg campaign with "Bank re-
form" upon their lips, as one OF the prln.
cipal issues between them and their adver-
sarles. In evry one ofthese campaigns
our opponents have charged us with a
design to destroy all banks of circulation
and TO reduce the people 10 a"hard mon
ey" currency. Whenever and wherever
that charge has been made, it has been
boldly and positively denied by us. It
may be asserted without fear of contra
dctiou, that during the whole contest, mot
aspeech, an address, or newspaper,
containing The sentiments Of any respon.
sible man or set Of men in our party, can
be found in which the doctrines Of an ex.
elusive metallic currency were advocated.
During the last campaign, the democratic
candidates in every county in the State
declared themselves sBank reformers"
and not Shank destruclives;" in favor of
resumption; in favor of better system
Of thanking than the present one, by which
the people should be secured against
frauds and losses. Upon these profess.
ions, ard aided by accidental causes in
certain counties and districts, they secur.
ed a small majority in both branches of
the General Assembly. No sooner was
the result known, than all parties concur.
red in the opinion, that ''Bank reform"in
some tangible shape would now have to
makeits appearance upon the stage. 1t
had been talked about for years; various
principles had been discussed as necessary
to new and safe banking system; State
hanks, safety funds, bank commissioners
individual liability &c. &c, were com.
mon topics. Butthe precise manner in
which these safeguards were 10 be appI-
ed ia new system was still unsetlled.-
Several bank bills had been reported by
our Party inthe Senate, at the previous
session, but none of them adopted. All
agreed however, that nov the Democrats |
must produce their netp system Of bank.
ing that the people might see it and
Judge of its merits. During the whole
session, the enquiry WIS kept up in all |
parts of the State, "what i5 The Legisla-
ture doing" will they do any thing 10 re.
leve US; what sort Of a banking system
are they going TO make fol usP lExpec-
totioh was on tlptoe to see the new ana
safe democratic system of banking. At
length the promised relief came. 1t con- |
sisted iha peremptory order to all the
banks in the state TO resume specie pay.
mentS on the fourth Of March, upon air |
their liabilities at once. If Banks are use |
tul for any purpose, it is 10 furnish funds
in tie fall, to enable the dealers in wheat
pork, cattle, horses, mules, and other pro
duce ofthe country to purchase up those |
articles and transport them TO market, re.
paying 70 the banks in the spring the
sums thus advanced. II is well known
that onthe fourth of March large auanti-
ties of produce thus purchased were on
their way from Ohio TO New Orleans,
New York aud other Eastern cities, or
were in those markets remaining unsold. /
The notes of the banks furnished during
the fall and winter ia, buy the produce
were in circulation, but the proceeds OF
sales had not returhedin specie and I9as.
tern. exchanges to pseplre the banks to
BY April or May the traders
would hayeTetuMed from the south and
east, paid the banks the amounts barrow-
ed from them, and strengthened these in
stitutions, so as TO prepare them for any
runthat might be made upon them.
There is not only remarkable scarcity
Of means on the partofthe banks early
in March, every year, but ills about This !
period that tho Merchants want accom-.
to enable them to bring ON
their supply Of goods for the season. AL
bank can often by such accommodations
enable themto avuid pressure upon the
people who owe them, thereby Ielievina
whole masses of men by asingle loan.-
But the Legislature, actuated no doubt
By wisdom too deep for thecomprehen..
sion ofordinary minds, chose this very
period OF scarcity aud demand for money!
os the one above all others most suitable
fora general resumption. No diserimjn,
j.. ...s7c. - -.