The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-05-19
For the Ohio Statesman.
THE WEST UNION MEETING.

As the proceedings of this meeting are attracting
much attention. and as was requested by those gen>
tlemen comprising it to one OF committee of cor>
respondence, it perhaps my duty 10 define my posi-
tion. Twas not at the meeting, nor had any know
ledge that 1t had been held until time in April 1t
is not my opinion however, that it is the object of the
mover of the resolutions adopted by that meeting, to
throw fire brand into the Democratic ranks for the
purpose of securing the reelection Of Gov
ernor Corwn, as some intimate. Nor can it be that
any one as thoroughly acquainted with the history of
the world and the rights of man as he is can be ds>
posed to lend himself to the enemies of equal rights,
for the purpose of building up banking system the
principles all such institutions have hitherto existed in
this country. This opinion seems the more probable
from the fact that in the fifth resolution allusion is
made tthe principles declared in this part of the State
previous to the last annual election.
Of the four Legislative candidates or the district in
which Mr.. Hamer resides no one except myself even
wrote synopsis of their views the subject of bank
ing although as far as know and believe, there ex.
listed among unity Of sentiment on the subject In
the Clinton Republican, Of the 4th September l64l,
published short reply to an attack made upon by
the scribbers for that sheet in which the following a
guage used;
~ am willing, as the charters Of many banks are
bout to EXPIRE to increase the banking capital to the
wants of the States, by creating State bank with
brBncees, or sufficient quantity OF local banks, as
majority of the democratic party may agree, either Of
which to be restricted as follows, viz:
II. The Directors and Stockholders TO be bound in
their individual capacity for the payment of all'ther
debts. ..#t..., ' ...
"2 That they be restricted by law in their issues and
discounts, IN such manner as 10 prevent sudden ex-
papsion and contraction Of the currency, by which
slrctlon we will be able to render stable the price of
property and the rewards of labor.
3 To guard against excessive loans to the directors
and officers of the Banks.
"4 To compel them to redeem their obligations in
gold and silver, at all times, on demand, BY which
means alone we can induce the people to have conf
deDce in banks, and by which means alone we in-
duce the people 10 have confidence in hanks, and by
which means alone, can we equase and regulate the
exchanges-the price under such circumstances never
being higher than The cost of transporting specie which
between this aud new York is from one half to one
per cent whereas we now pay from nine to nine and
half per cent
"That a reservation be made in each charor, that
Legislature may amend, alter or repeal Whenever the
pubhcgood may demand it, doing justice tolhe corpo-
rators as well as to the people. This power belongs
to the Legislature of right but would be well 10 in
sert IT, in order that the reform may not be defeated by
the decision of the supreme Court at present const-
tned. tg
"If the Legislature cannot repeal The charters Of such
institutions as Canton Steubenville Galliapolis and
West Uhon until The court adjudge them Forfeited and
the Court neglect 10 decide, iepeople have no all
Tentative but TO feel the loss Of hundfeds Of thousands
Of their miserable promises,
''lf the psope are IN favor Of banks with the above
fssiricsoas shall happy 70 iam but if they
WaRt mOTesbanks uueuMded ss tho present ones 9Fs,