Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-06-21

has The siOckholder, whose property has I
been lhus sscFifcedi lie may come up I
ON the otlers for a contribution TO refund
the money paid, but not TO cOmpe nsate
him for the enormous losses he has sus-
tained BY the sacrifice Of his property
and the boggariy Of his family. The
man who owns.a hundred dollars in stock
may be sued BY broker for ten, twenty /
OF City Thousand dOllars,ard will be com
PEELED to pay the whole, although il takes
his last doIlar,-and that, before the
debts due the bank have been collected; |
from which, the same claim might have
been paid, without calling upon The slock-
holder for oae cent Willany sane man
IN OF out Of Ohio invest money ia such 4
bank! think not; and If | am right .tian !
tho whole controversy is setlIed between
US and those who want new and safe
banking system established Tho law
must be altered. 50 lliat fsprudent menof
property" win tske si0ck -oiheTwisc we
can have no bank
We think cur plan preferable 10 this
ohe--bath Cor the siockholdel aud the
bill holder. We WouId require tllo sol.
vent banks 20 take up the circulation Of
! broken bank, without driving the peo-
! pie TO employ lawyers and carry ON suits
against the Individual stockholders, for
every FIVE or ten dollar bill they might
have when the bank broke. We would
require theSlate TO take the paper Of bro
ken bank in payment Of taxes, and indein2I
nifty herself by the safety fund in her
treasury; and If that was insufficient the
solvent banks should redeem the balance
LAS they would If individuals held il--'
1 No loss would be sustained by the state
the people would have neither trouble
nor expense with ite notes Of broke banks
nor could they sustain loss by them.--
The plan is better Cor them, than the
8 one proposed in the banking law. But
how are the other banks 10 bo lHdemni-
J fiedi First, they look tothe safely fund
second to the assets Of the bank, which
are to be seized by the bank commission.
ers, the moment she suspeLds, aud plac-
! ed 10 the hRnds of trustees who will cnn-'
yertthe assets into money; third by che
individual liability Of officers and direct
0rs who have violated the charter; and
fourth by making the stockholders indi-
uaIly liable, for all that remains unpaid,
. after these funds are exhausted-tacb
one--.in proportion 70 the stock he hOi1g;
) and II any one is insolvent, let the rest
| make up the deficisncy,-- Thus you
!. place all tho banks in the State as spies
upon and security for each Ofher--Io the
! people the State thEoughits bank com
! missiOners supervising the whole; you
E have the individual liability of allths
stockholders asa sort Of back bail, 70
make the system strong and sound and
prevent any lpssto tho people; and you
throw the trouble Of winding up a broken
/ bank entirely upon The banks tbemselves
!, This is the outline Of our plan. We
think il good one and believe stock will
i be taken under Il DO you see any -
| lection 10 il, that does not lie with as great
or greater force, to the one contained ia
the banking law Of last ssssio12 IsiheFe
any thing anti democratic ia it,f Is theFe
any abau udunfuent % former inciplcz -
Even ia lhs case Of c0ntn0n partner.
ship, ought not tile joint stock % hs ex.
hausfed, before you come upon the indie,
vidnal properly of the parlnsrsf lf his
plan i practicable and ilie other il not,
Why notadspl ouFs! IEilI ang democrat
who wants banks insist upon restrictions
that will prevent stock from being lakeni
!, he does, what difference is there 30.
tween him and IN open and davowed hkEsl
money man, who Is againssal hanks?
i tis 10 vain % suppose these questions
willnot be discussed during Tie ensuing
campaign Every intelligent man ia Ohio
will understand them before the October
election No party lFammeIs 0r party
denHncialions willHopis. We have popi-
poned aclion on the currency question,
until II canhe postponed no loagef. Each
man must and viii decide for himasif;
and the idea thatws as democrats ere
bound 70 conform 10 whatever rule has
been laid dowRby our Representatives Is
TOO pFepoaleF0us to merit notice. The
peopIa rule inlthis country, and thtir BilI
!. is 10 be the law0fthe hnd. IL their
Representative err in applying geaeFdI
I primeipIes 70 The details OF lev, The aF.
rog must be corrected We are not viii !
ling 10 make 'sLalhams BilI,1 ius, as Il
staads, the issue Wlth the wings; If
did We should be badly beaten. If any
county in the State chooses to do 81,
let them try the expfE'ment. Tin any
county they choose 10 make a bard mon
ey issue, We have 40 objection, But nei.
ther Legislative decisions nor editorial
censures viii drlps na from what we be-
Iisvs 10 be the Fas interests OF our coun.
try aud Of he dsEhocraiic party. We shall
sallEDte fof GobsAeF shaHnohg who has
nothing tO q with this question if elect.
ed.
YouSs iapoliticalbonds that
canaot Be- broken, as set,
THOMAS u. II 4 AIIsR.
EIillsboEough, o., Jane 0, 1872.
PS. II trust Al Wbo pnblishs Mr.. Ma.