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

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those which had acted within the leRiti
mate limits Of their business, BY Gdvan
cIng large sums TO carry Off the surplus
produce of the country The decreC
went forth: lmmitigated, ferocious, re
lentless. They were to resume forth
with, or TO die the death of malefactors-
leaving hundreds Of thousands Of dollar,
oftheir paper, dead in the pockets Of The
people. fortunately for the community
most Ofthe banks were able 10 sustain
themselves in the crisis thus produced
and we have beensaved from scene Of
ruin and bankruptcy such as thisState hai
never witnessed.
In the surrounding States both poIitica
parties have sought TO cherish and sustain
their banks. They have required then
TO go into gradual or partial resumption,
or 10 cooperate with Deighboring banks
in bringing abont general resumption
They have appointed Legislative commit
tees 10 examine them; and wheu
found to be solvent, have assured the
people there was no danger, and thus
increased public confidence in their own
institutions, instead of destroying it. BY
these means, the banks have been ana-
bled TO resume, and at the same time tofn-
crease their discounts and relieve the dis
tress Of the people. The banks and the
people are friends; and they mutually aid
each other The democracy Of Indiana
and of Kentucky, with Col. Johnson at
its head, are quite as pure and as INTEL
gent as the democracy of Ohio. Why is
their conduct so different from oursa Are
Hey wiser than we? Let impartial judges
determine between us. What good has
resulted TO the mass of the people from re-
sumption? Ii is said the paper is better
now ,hanrbe(ore. So it is; but where is
il? There is not one dollar in ciculation
now for three there was before the re !,
sumption We must console ourselves, how
ever With the glory acquired in conquering
these bloody.minded corporations; and
still live in hope that the long promised
gold and silver will make its appearance
in due time.
The next great measure OF the last ses-
sion was the law TO regulate banking in
Ohio. You are already apprised that
have no objection 10 most of the provisions
Of that law,--iaking them as principles,
That ought TO be incorporated into new
system. But if there is only one provis-
ion in law, that seals its condemnation,
by making the whole impracticable, that
is enough to arouse opposition from every
part of the State. Suppose the whole
law acceptable, until we arrived at the
las. section, which provides that every
man convicted of being the owner Of
bank stock should go to the Penitentiary
'Or ten years, would any one, either sup
port the law or believe that those who
made it were really bank men and desired
20 see new system established7 But
vhatis this law? Itneither operates up.
On the present banks nor creates any3new
,aes II is in reality no law; for il nei-
her operates upon persons nor things
L is ofno more forcein the State Of Ohio,
han string Of resolutions passed at
ownshipi m Getting. 1t is intended to be
/ general law too; and therefore if banks i
we're put in oporatian under II and the
Wings should get into power, they could
'epeal itand the very next session give
hese, banks any power they pleased. So
fthe "hardmoueyn men should get con.
rol of'the Legislature, they conld repeal
I, and abolish all these banks! To pre-
vent such catasrrophes, suppose the au-
hors Of this financial scheme Intended
bat from this day forth, through all time !,
-the currency and the Banking system
are to be a political hobby in every cam.
oatgn; are 10 be the fruitful themes for
stump orators and newspaper editors at
every election and subjects for young po-
itical surgeons to practice upon, at each
session of The Legislature
The banks are to engage in politics in
,eR defence and the State is 10 be kept
n continual agitation; business men Of
III parties kept in state Of suspense lin
lustry and enterprise are to suffer an un-
paralasys; brokers shavers sal
lried officers and speculatcrs are TO flour.
sh, whilst the debtor class and the poor
are ground to powder-and all
or the purpose Of enabling a few political
theorists and charafans to try the effect
If their quack remedies upon the body |
polite. Instead Of settling this question,
10 that all classes Of men may know what
10 depend upon and may engage in bust.
ness with safety; we are now required TO
come forward and approve this new theory |
Of finance, and there by solemnIy resolve |
That the question never shall be settled i
we can prevent ii! A free people have ar
rived at the last stage of fpoiitical seryitude
& clumsy chains can be
fastened upon them, and they have nei
tlrer the courage to riso and.slIake them
off, nor the spirit to complain Of tho cru
elites inflicted by The walaonhess or
thoughtlesshess Of their task masters,
These were tho two great measures Of
the Session., What present relief have