Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-08-15
OHIO REFORM BANKING.

One Of the features Of the Banking
system which has received lis death blow
from the Democracy Of Ohio, is the in>
fatulion of those who have aVailed them
selves of IFS benefits, and their mO6ish
disposition to put down every man who
has rendered any assistancsto TO relieve
the community of its incubus. The
sticklers for Bank paper, issued under
the old system, are in faVorof il because
there is no responsibiliiy,-lhere are va
rious deVises known among The modern
fnGnciers, by which to swindle and make
large profits. without becoming amena.
ble to any law existing, at least not un-
Ill the Democracy succeedeh in gaining
the aseendency,-and they are still sem
sible of the fact that the complete change
in public opinion on this point, is wholly
attributable to the indomitable energy Of
the Democracy in exposing the schemes
and corruPiionS natural 10 such insttu-
tions. ~
We need not call up the transactions
of the pest in Ohio, TO show what the ir.
responsible system is, which Whiggery,
with very many exceptions we are
glad to say,-still sticks to, and for which
they will receive no substitute of less
powers.-We need not point 10 the ex~
ploded shops in this city, or at Urbanna,
or Galliopolis, or Wooster, or Granville,
Steubenville and other pIaces;-we will
not look into the past, but call the atten-
iion Of the reader to receHtt develop.
ment Of the frauds which have just been
exposed in the Northampton Bank, in
Pennsylvania, which was situated in one
Dfthemost Aourishing agricultural regions
IF Pennsylvania, and had a capital of
S 1880 II has now exploded in as
1isasterous manner as the UntedStates
Bank, and equally criminal. The com.
mittee appointed by the innocent and
confding stockholders, to examine into
the cause and nature of their loss, have
made deplorable report of its affairs:-
The circulation Of the bank is l0s,2l7-
10 redeem which the committee discov
cred in its vaults the sum of ONE DOLLAR
AND A HALF in relief money, and sixty
nine cents in specie. The entire liabili-
les ofthe institution amount to S47l SOB
nd if her assets were available, there
you'd still be a deficit of $3.50, ,059, for
he payment of the debts. Bulincluded
j The above mentioned assets, slhere re
lrge sums that will never be 1Eealised,
eductinp which from the real. resources
{ the bank, there will most probably be
n actual dafct of $4O9,9S2 81. The
'rostration Of the bank is wholly imputed
o the President, and numerous charges
re made-such as allowing particular
avoriles largely to overdraw their &C.
'ounts-discOunting the paper of ire
'pOnsibls suffering unpaid notes
o run over unprotected, the President
himself being in many instances the en-.
lorser-nvesting large sums in unprof>
table stockS--paying heavy "atlorney's
ees" in seeking an increase Of capitalI
--and other similar frauds. The cash
.ccount, il is stated by tho committee,
proves deficit Of $23 ,O70 tho bondG
ote account of $l7,577 74--the &C.
cunt Of bills discounted of $l6,352 SO
land the draft account of $5OOO-all of
'hich the President refuses to ex>
lain.
When transactions like these are ex.
Osed in every State, where paper is is.
ued without pecuniary responsibility,
nd law and justice violated without pen.
lty, should not that man be considered |
lsane, who still stands up before an In
'lligent people, the advocate of the con.
nuatiOn oil the system, and the opposer
any other that will correct its abus-
'?-Cin. Eng.