Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-01-20
From the Ohio State Journal.
The Little Bank Bill.

UT W cast upOH lHe w nIB meHDeTs tDe
responsibility Of defeating the bill TO
extend for six months the charters Of
certain Banks. The editor oflhe States
man gives, without comment, the vote
on the passage Of the bill in the Senate
and its defeat in tho House. His object
manliestly is to nsinuate that the Wings
defeated this bill, for the defeat Of which
he has labored in secret. as some Of his
supporters we'll know. Neither Of these
editors give copy OF the bill, or even
state lis provisions. They assume that
it was bill against which the Wings
could have no objection; but against
which they voted out Of factious motives.
Indeed the editor Of the Republican as
serts that the Whig members voted di
rectIy against their previous opinions,
Now this editor knew this 10 be incor-
rect; otherwise he is grossly ignorant
Of what has transpired in the broad day
light OF egislation. Why do not these
} editors give the facts-state distinctly
the features of this bill, and the grounds
why the Wing members OF the House
felt constrained 10 vote against il? To
have done this would not have answer
ed their purpose; it would have satisfied
every reasonable man Of the correctness
Of their course.
] will now do what these editors dared
not do; | will succinctly stale the histo-
ry of this bill. 1t originated in the Sen.
ate-as first introduced, it extended the
existence ol the Banks for the purpose
of winding up, permitting them to do
such business only as might be necessa-
ry and convenient TO attain this end
They we're not permitted TO issue any
more paper and were required TO re-
deem what was outstanding in gold and
silver on demand. Such was the bill
as introduced into the Senate. 1t wa;
amended by the Senate committee, al
5, the urgent request OF some OF these pre-
tended bank Locofocos, SO as TO extend
the charters only for The term OF six
months. The Wings we're told that the
bill could not pass, unless so restricted
10 this shape, the tiIl was ordered 10 be
engrossed and read q third time Wber
it came up on its final passage, Mr.
Mitchell of Jefferson, moved TO amenC
the bill by adding q section that shu
Farmers and Mechanics Bank oil Steu
benvlIe, before it should receive th
benefit OF this bill, should repay 10 th'
Fund Commissioners Of Jefferson couu
ty, the money by them invested in tn
r, stock of that Bank. Mr.. Mitchell state
that he had, as Fund Commissioner, il
vested this money and had been blame
for it, and he insisted that the Ban
should refundthls before any extension
ly, its charter should be made. This prop
stion was unjust and urged onl to gr
tify improper feelings in certain qua
ters against this Bank. These Fur
Commissioners we're stockholders vii
others; what ri ght had they TO claim
be paid before their co stock khoiders!-
The section was voted into the bill
Locofoco votes. This was equlvaIe
to excluding this Bank from It's benefit
Sill most Of the Wigs voted for Il
- bill. even with this unrighteous secIi
y" in it, Those who voted against 1t, d
so, because they were not willing TO
come accessory 10 any such manifest
justice.
This bill went TO The House q bill
"a. enable The Banks TO close up their GBdi
provided it could be done IN Sir mOat
red These banks could put 20 more pap
in circulation, and in that way could
cur no liabilities to the publc-and y
the majority the House inserted into Il
bill section which prevented its h'
ing any effect, unless the stock holdt
would consent 10 receive the indvldl
Ia liability, and be bound by it. I'll
~ amended, the bill could not take effe
> until all the banks had called meell
mn of their stockholders, and they had
greed 10 accept this modification of lh
charters. The first OF January '
close at hand; the bill could not
ho,r passed until after this time had elaps
There then could be no use in pass
the bill; it must and would have bC
ineffective. This then wos ground s
fcient TO have voted it down, unless
i, Wings were willing to aid these p
tended bank LocO(ocos in humbugg
the people-lhis they could not dc
Why was this section inserIedf
}, said by some who voted for II lha
., could have no effect; then why pt
lhere2 Was ii done 10 force The W
; members to sanction their bank hu
buggeryf Or was It done 10 orde
force the Wings to vote against it,
thereby destroy The bill? The h
money faction Of course voted for |
this very purpose. The Wings |
tested, and voted against this sect
b, and showed its effect and injustice,
claimed that both OF these obnox
u L. nd