Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-07-26

have corrected the evil, were postponed
by State borrowing, and corporation bor-
rowing, aud city borrowing, flom abroad;
borrowing, not m0aey, but credit, aud
selling exchinge upon the credit, and
thus keeping olfthe evil time when the
laws Of trade should bring pay day home
10 us, by means thai have made I. ten
fold more severe now that il has come
Ifunreslricied paper banss could oper-
ate any benefit in such crisis, why did
they fail to do 50 when il was jnsI com,
ing onG Here in Ohio, we had many
banks last summer, as in 1897, when VIC
we're buying Brummage waren and Bal
tic wheat at such terrable rate. But
so far from being able 10 stem the hurri-
cane, and shield the people, many 81
those banks could not take care Of them,
selves. aud all of them acted precisely Al
conductors Of the worst fury of the TEN
pest 10 US. The fact is, banks do very
we'll, so long as all is fair weather and
fine sailing; but they are as imPptent @
ron headway in Storm, as any poor fel.
SOW in the last stage Of cholera asphyTia
Thsy are prime TO bringon trouble, pow
erless 10 work out 0f it.
This State has population Of the most
industrious, eRierprislng and frugal char
acler, under Heaven. She has The grea-
test natural and artificial resources and
facilities. Size has the highest mechani.
cal and manufacturing skill aud Ingenuity
and she has now harvested surplus OF
wheat, to The amount, probably, Of twelve
millions ofbushels, with like bounty,
in every article Of agriculture. Taesf
are the elements Of reIiet--these are Gc,
tual Uealth Banks Of earth, not paper
banks, are the dispensers Of discounts
aud facilities; and honest. homely indus.
Try, has done, is doing, and will continue
10 do, moro for the State, than oil the
bankers that have ever ho6rished on 9th.
er mems labor, from the days Of John
Law 10 those Of Nicholas Blddle
/ What do we want, then, in addition to
tho bounlies Of Providence, and our own
| honest industry, TO make us once more an
easy and conisnled peoplea Simply this
"A market for our surplus prodace.---
Show US but that, and tile means Of car
rying gitthere will come money--reaI
money--wll uone back,--debts val be
paid-mannaciure stmul aied-wages
. inereased--and good times lake the place
of this Wing era Of "tpo dollars day
and roaa beef"
But will more unrestricted paper
banks, or longer life without propel
safeguards, To the present ones. create
this market for usf The suggestion 1
absurd! II you could expand, by sucl
or any means, the circulation Of Ohio ia
what il was 10 1887, our farmers would
be worse, offihan they are now, ,--be.
cause the surplus products 81 the sur.
rounding States would come here for
market, and the specie basis Of that cir.
culaiion would 60 away, in return. Sus,
pension would be in our banks, and the
surplus, both Of what we have raised, and
what we have bought, would be rotling
in our warehouses, before we we'll knew
what we we're about And this would
be the end Of the experiment. Like Ahe
man IN the parable, out OF whom seven O.
vii spirits lad beea cast, but who found
no rest in dry places, uniilhe had swaI
lowed seven more, 1.-THE last stage Of our
condition would be worse than the 6rst.
We protest, therefore, againstthe notion
that relief is 20 be wrought, by tinkeriun
upa rev hatch Of banks, and turning
Them loose upon us, just as our own ii.
duslry has wr6ughtonl its own deliver
ance. We have banksenouQh, and bank
capital enough, nuw,--and deal too
much, as now organized. We lay that.
question aside, therefore, as ihinr that 4
Is both nexpediant and mpraclicablo.--
Tho only question, ilseems 10 US, is as
70 conIinulce ofthe banks whose char,
lars are abOut expiring, and tho terms ofl
shGt continuance.
Many people, whose opinions are en-.
titled TO weight, think such continuance
TO be necessary,-- that we want these
banks,to facililatethe Transmission ofpro.
ducc to market, and facilitate business al
home, For one, we defer 10 the opin.
ions OF such, and say at once, and cam
didly, that we are nut adverse 10 such
measute. But we do insist that The
terms shall be such Bs to afford ample se.
curly 10 che people, We insist that the
legislative power Oflhis commonwealth
shall mol go, cap in hand 10 The bankers =
and sue for aud adopt charters Of their
diclation. And we insist that tho trade
of6aRking shall be put npon The footing
pF every other trade We can have this
matter arranged upon our own terms-
We can make subsia hlisl progress il re. ?
orm, and correct principles ia banking =
! we resist the solicitations Of interest. y
ID men, and have the nerve TO stick for 9
he right. \
We shall resume the subject, and in so
lolRg, cndeayor 10 correct The many ar. y
ofs that are aaoat, conserving the bank. q
lg law Of last winter which, we con. !
End, = moi only practicable, but, with >
ome amendments, furnishes the onIv
rpner end safe terms of tile renewal n. @