Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-01-06

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Commercial Back of Scioto, Bank of
Muskingum. BOnk Of GAINESVILLE. Bel
mont BaOk Of 81. CIairsville, Farmers
ard Mechanics Bank OF SteubenViile,
Bank Of Mt Pleasant. Bank Of NewtLis-
bon, Franklin Bank Of Columbus and
the Western Reserve Bank.
The question being on agreeing TO the
report Of the majority,
Mr.. Meredith had NOT been in favor
OF the bill, but The unusual means which
was resorled to. 10 defeat il, had some
what changed his mind, aud he hoped
the House would not agree 10 any a.
mendmenls, and that The bill would be
passed as il came from The Senate. He
had understood that a clique, composed
Of a set Of demsgogues, was now IN CO.
Iumbus, and had como from remote parts
Of the State, for the sgowed purpose OF
defeating this bill. fsuch was the truth
It was an insult 10 The Legislature.
Mr.. ODDS was not c%ertaln that the bill
could pass ID any shape. A week ago
he had thought there would be no diff
cuIty in carrying out the wishes oil the
people, by the passage oil this bill, but
he had found that he was a child IN leg
Islalion. II he endeavored TO repre-
sent his constituents he run across some.
iody's track. or clashed with the oPln-
ions OF others on this subject. The PEG.
pie Of P~ickaway county were in favor OF
The settlement Of the question oil he
currency, and Of the recharter Of the
specie paying banks, and he mad come
here instructed 10 procure the establish
ment Of a system Of banking The COM
millee on banks and The currency, were
IN favor OF the passage Of the bill just
as II came from The Senate, as It was
doubtful whether it woult pass at all,
in any other shape, as there we're some
objections in lha; body, 10 the proViso
%ralsllve to the bank Of SleubenvIIle.-
Only FIVE days would elapse before sew
sral charters would expire. and the
banks should be informed lc the bill was
likely TO pass 10 less than that tlme.--
MANY coDce ssions were therefore necss'
sary to be made, and many interests
concillaled, in order TO accomplish the
object 10 passing the bill. Would this
be done or should we agree 10 dlsagreeE
There was but one wish 10 reference TO
this measure; every newspaper proved
il, and e,erv confirmed, aud
should we dare 10 return and meet our
constituents without settling this vexed
question: We were as capable Of doing
Il us any preceding Legislature, and II
we did not do il, we should not receive
the welcome OF we'll deDe good and faith
full servants. He came here 10 repre-
SEM The interests Of his constituents, and
was not 10 be deferred from it by being
told that he had abandoned his party, IL
gone over 10 the common enemy.
What would be the result oil a failure
To pass This bill? IL these charters we're
extended, the b~ill-holder would be able
10 receive gold aud silver for his paper
at the counters OF the banks on presen-
~tation but if not the banks would be
obliged to g. into liquidation, andslhey
would then have 10 wait until q dividend
was declared. before realizing their
dues. Gentlemen might say that they
were anxious to drive such worthless
trash out Of circulation, but would they
do so by defeating this bilI2 Would
they, by striking from existence every
banking institution in the State exclude
from circulation within our borders the
paper of adjoining Slatesf About two
millions Of our banking stock was owned
out Of the State, aud by forcing The banks
into liquidation, we would force the
withdrawal Of that stock, and was it
policy TO do so al the present time when
every thing was in a state Of depression!
Why were we pelitioned TO extend the
time Of payment TO purchasers OF school
lands and 10 various other debtors! 1t
was because the present was a lime OF
peculiar embarrassment, and engage
menls could not be met. If the Clncin-
natl banks should, by defeat o!thls bill,
he forced to make a collection c. their
debts, it would break lwo-thirds Of the
business men IN that city. So he had
been informed on good authority, aud
he did not doubt the truth oil it.
Did we, by the passage OF thislmeas-
ure, injure any class Of community, or
compromit any great principle? Did
we by ii commit ourselves against the
passage of any bill granting bankichar-
tiers during the present session. He
had no hesitation in saying that a great
majority Of the people of This State were
10 favor Of a safe and sound system Of
banking, and he had committed himself
10 favor Of such q system 10 his consIit.
uents.
Mr.. M'Nulty next addressed the
House. lie alluded 10 the professions
OF Democracy which had been made by
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