Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-01-04

10Y vi ANhDNAAA'"b - !
admitted TO his mind. The Senator
ftom Trumbull, who has just taken his
seat, (Mr. Crowell,) however, is as good
authority as the Senator from Miami, and
hs does not take back what he has Just
said. His language iSyel ringing in the
ears of every Senator. "Thst be is not
only anxious 10 see the board Of bank
| Commissioners filled, but also to see the
bank Commissioner Law in all its parts,
most rigidly enforced" Yes, sir, mark
the most emphatic expression just made
by the Senator from Trumbull, that he
was anxious to see that provision in the
law, requiring the issuing of a writ Of
mandamus, and the closing up Of bank
for a suspension Of specie payment, most
strenuously enforced" Yes, sir, that
heretofore much abused provision in this
law, which was denounced by so many
legal Tyros, as Unconstitutional, the dis
tinguished Senator from Trumbull NEST
evidently desires now to see 'enforced 10
the very letter" The delusivo spell
seems TO he broken, and we find occa-
sional bright aud glowing evidence Of a
lAONhlhIhS oVhbO w uuAys "a iCDPpNthDio
portion Of the whig press, and Of the Whig
party Oft the Stale, profess TO have cut
themselves loose from the banking syS.
lem-to have thrown from their arms the
corrupt prostitute, which they have too
long hugged in their close and tender
embrace. This is one Of the cheering
signs OF the times, the result of the in
vestigations upon this subject and which
goes TO confirm the correctn-sI # the
ground so ardently contsnded for by the
Democratic party.
The litary tendency Of the Bank Com.
missioner law Of this State, has never had
az yet far trial. Ever since its passage
ths banks have been almost in open rs.
belion against it; and large and inAusn.
tial political party, which has for near
half the time had tho political power Of
the State in their own hands, has not on
ly denounced the law as being uncon-
s!itutional and void, but even appIauded
and sustained ths banks in setting it al
deflnco. Under such circumstances, il
was not TO be expected that the most
wise aud wholesome law which could be
devised, could bs Of any efficacy upon
80 DO Serful and extensive combination.
But there is good reason now to believe
that public sentiment and circumstances
are changing.
No person can examine the provisions
OF this law, and fail to conclude that they
arc founded on tho Plainest principles Of
justice and expedency, and that their
faithful execution is imperatiVely re.
quired at the present time. And ySl this
law must remain 4 dead letter upon our
statute books, for the want Of officers to
execute it, unless The board Of Bank com
tnssioners be filled. II has been said
that one provision in this law is uncon-
stitutional. litbs even were tho fact, It
could not effect tho validity Of tho many
other wise provisions in thai law. And
ifthe law requires amendment, il can be
amended as woll after aS before the Gil
ing Of this board,
Mr.. Thomas and Mr.. Nash replied 10
Mr.. Barley at considerable length.
Mr.. Barley reioined. The bank com
missioner law has two important purpo-
ses, which may be effected by ito execu.
tion. First,a thorough investigation into
the past proceedings and present condi
ton of tho banks; and secondly, re-
sumption Of speciaPayments, or placing
or closing the banks in state Of liquida
tion. Those who oppose the passage Of
this resolution, in effect oppose the &C.
complshmsnt Of both those important
purposes.
An investigation iuto tho condition Of
the banks is peculiarly important at this
time. The executive ofthis State, in his
annual communication to the General As.
sembly, at tho opening Of the present
session, informs US, that the bank question
must be settled at this session. aud that
in establishing new system, ,whonsver it
may be, the existing institutions must
be brought in under it., and rschartered.-
II tho re.chartGring Of the present ba nks
is ever TO become question for our con.
sideralon, It is highly important that we
have an investigation into their affairs, and
know whether they are solvent or insol.
vent ni,--wheIher they have beon trampng
with reckless mpunty, upon the most
salutary laws Of the State, or have strict
" conformsd 10 all legal or moral re-.
slralnts. Should we for one moment en-.
terrain The idea of ro-cllrlerng bank
which was inSOlvent, or which had vi.
olated its integrity, or Ihs laws Of the
StatsH
The reason assigned BY the Governor,
for the rscharter of tho existing banks, is
that large amount of their stock is
owned by capitalists in the eastern cities,
which will be Withdrawn from the State,
unless the banks an re,chartered. We
should not be alarmed by any threat
from foreign capitalists. This foreign
| &. nnllaI II