Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-05-20

hNu Snhll COnlnOelO 90 so. nus IhI
howeVer, the principal scepe OF the &C =
ton is in the southwest part OF The
State The West Union manifesto is
1.-THE theme of general discussion, and
the old friends and associates Of the
projectors Of that movement are taking
ground Tor and against their measure,
OF a "sound system ofbanking," Sever
al meetings have been called, to cousid'
er the subjectofa new banking sy stem,
and the proceedings Of two are before
us. In one oflhese, held at Sugar Tree
Ridge, in Highland county Gen. NJ
FDowell made speech, and sustained
the plan ot Banking system which had
been published in The H!lIsborough Ga.
zetle, and which he's been copied into
This paper. Two other gentlemen also
expressed their sentiments on the sub
jecr, which were coincdenl with those
entertained by General M'DoweII. At
forwards it was unanimously
ResJtred, That this meeting approve
Of the views advanced by Gen. M'Dow
ell on the subject of sale banking sys
TEN for the State"
This resolution is sufficiently definite
in favor Of Bank, but ii is accompanied
by several others, which gives du-
blous complexion 10 The character Of the
meeting. The decided expression. how
ever in Iavo! Of banking, is very much
gained
Butwe have an entryto make on the
opposite side Of this ledger. The an
IagonlstS ol "aII paper circulation" re-
(erred toin Mr.. Hamer's resolutions,
have had a meeting ia Cjermont coun.
ty, and have pat forth a.serIes ot reso-
rIuIons, in favor OF the "doctrines,"
which, "i( carried out, will be runous
to the best interests of the community,
especially to the whole debtor class,
who will be crushed by a policy so fatal
and destructive" We close this urli,
Gle by appendiog 10 what we have said,
some Of these resolutions, which will 60
lar TO prove Mr. IlGmer in the right,
when he asserted the existence Of a
"hard money faction" in this Sate.-
The resolutions, when considered in
connection with the Medina county pro
ceedlnss, will furnish an index 10 the
sentiments and principles which must
become prominent topics Of discussion
before the next election is over.
Resolutions adapted at Democratic
meeting, in Tue, CIe,mOnt county, A,
prH 80 Thomas Jones in tie Chair
and John Ferguson, Secretary.
,ReSOl0cd, That the experience of the
world for the last century and a half,
should satisfy the most visionary that
no system OF banking car Furnish n pa
per currency end be- safe, sound, and
pelpetually specie paving, for a have
been tried aud ALL HAVE FAILED
! Resoiucd, That the policy Of Chic
should be TO create no new barks-to
try no, unlried experimenls-to to renew
no old chafters-to steadily pursue her
course in restraining the abuses Of ex-
stlUg banks to exclude the smaller de.
nomination Of Bank notes from circua.
ton, and speedily res,ore"a currency of
gold and silver for all the ordinary pur
poses OF business, leaving the larger
notes and commercial bills for CONNER.
cIal purposes.
ReSoIDed, That It is FOELY TOAT
TEMPT TO CREATE A NEW SYS-
TEN OF BANKING IN ONO, where
tits known Ihat neither the SIale nor
individuals can command the specie on
which TO base it, and at time when
more than twelve millions of chartered
bank capital commands but half million
Of specie, and furnishes but about three
lourths OF a million of paper circulation
RCSolued. That SO lar from "a hard
money faction" endangering US by 40
exclusive metallic currency, the lenden.
cy IN this, asin most other countries, is
to build up incorporated aristocracics
and privileged orders, to the exrrrm'na.
tIOn OF the precious mslals as Cirrula-
ting medium, aud the substitution Of an
exclusive spurious currency.
,ReSOipCd, That the assertion, That
there is mol specie enough for the purpo.
ses Of commerce, is as absurd as that
Ihere tsnotirOn enough for the purpo
ses lowhich it's appIed, as the follow,
ing data, furnished by the abest writers
and sa'esmcn Of the age, abundantIy
show: Thnlin Europe &. America there
is specie TO the value OF four thousand
five hundred millions Of doIlars-that
but from one'hrd to Two fiiths of this
is colncd--thal the share OF this sum
for the United States could not be less
than Two hundred md Cfly millions
the share Of Ohio is twenty four mil
lions. and neaf thirty Go'd the sum of
bank paper now furnished by the banks
o''he State and further that the mines
OF the world yield annually thirty five
millions more.
RG0lrCd, That with these indispu,a
bio data before us, the cant Of bankers,
krAbnn. nl II