Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-08-04
Fron ske SruBsspiHe Gazeoe.
The True lsswe aas8.


tion # tho locofocn party which appear
tc-haVe the majority OF that party, have
at length proclaimed their object to be
TO PUT DOWN ALI BANKS IN
OHIO. and Of course to RELY upon the
adjoining States for a circulating me-
dium. The true democratic party, which
party is composed Of the whlg party
aud The most enlightened and patriotic
portion OF the heretofore IocofocO party,
declare themselves favorable to the es-
tabIishment of sound banks Of our own,
and opposed to relying upon Indiana +.
Virginia, Kentucky, SC, for our cur
Tency.
= It is somewhat remarkable, however,
that the barn burners have NOT deemed
1t fitting 10 take their position, without
coming before the public with a LIE in
their mou'h-as big lie as The unfortu-
nate KllhcOu told in the Court house
last fall. They state, in the proceedings
Of their meeting, at Springfield, on the
18th July inst, that "the banks whose
charters have expired, have refused tC
accept charters under those general
banking laws"- meaning the Latham
and BARLEY humbug Now the fact is,
and The Journals Of the Assembly will
bear US out, that the hanks hose char
tefs have expired, did not refuse accept
ing charters Under those laws, and for
the plain reason that charters were not
offered them under those or any other
IG.Os. There was an attempt made to
extend the charters Of such banks for
six months, but il failed.
The Latham and Barley humbug
law, authorised the incorporation Of new
banks at Mt. Pleasant, ZanesvilIe, Day
ton, and soms other places-but the law
is so rmprdcticable, so contradictory. so
unfair towards stockholders, that no
bank can 60 into operation under it,
Conclusive evidence OF which is to be
found in the fact, lhR! even The friends
OF the law, those who cracked il up as
the quinIescenee Of wisdom, refuse 10
touch it.
That meeting has been guilty OF an
other LIE 1--WE like TO cell things by their
right names) in stating that "the bank
ers and capitalists OF the state, declare
that they will not invest money in banks,
iflhey are bound, as other men are, for
the debts which they contract" The
bankers and capitalists Of The State have
made no such declaration. But they
Objeci to being bound in way different
from that by which other men are
bounJ. Other men are not bound, when
they contract debt, 10 give security
for its payment, unless by mutual agree
ment. OlheF men are not bound, in
their contracts, by the action Of the le-
gislOiurs upon those contracts after they
are made. Ono man does not give 10
another the right 10 alter or amend his
contracts, at will. All this kind Of pow
er. tho Latham and Barley law exer-
cises. And go obnoxious, preposterous,
and anti republican is that law that we
have not heard ofIhe first barn burner
who has subscribed stock under it,
These barn burners make law. which |
they declare good one, and proclaim it
as such, but not barn burner would
'touch il with a Ten foot pole.
This thing oI individual responsibili |
ty' as regards banks, go much talked Of
by the barn burners, has not even the
merit Of originality. 1t was, more than
twenty FIVE years ago, made point by
come, that banks should be constituted
in that way; but upon examining the
system closely, il was found so defective
as TO bo abandoned altogether, even by
its friends ltS efficacy has been fully |
tested IN the case Of the unchar,ered
banks in Ohio. individual responslbIi-
ty worked only TO The advantage Of the
broker and specuaIor, but in no case 10
'Shat al The honest note holder Expe
'riend has taught Us that banks can be-
made perfectly cafe and solvent without
that ingredient. whilst tho ingredient
itself is worse Than the meresl quack
nostrum.
Having exposed these lies and perver.
sions Of tho barn burners, we come 10
the gisI of the matter, which is contained
10 The following resolution, passed at The
said meeting;
"Resoiped, That the Incorporation Of
banks, heretofore has been Of vast iniu-
~ 10 the best interess of The country,
and that il is q power which, il possess.
ed, should bo most spariHgly aud care.
fully exercised"
II The meeting had said that bad banks
have been iOjurious, ths whole commu-
nifty would have concurred with them
ln all our experience wO have never yet
seen the fret man who liked bad money
or bad banks This resolution is n de-
duncalon Of all banks, good and bad -
Upon the supposiiIon tha, wo could put
down all the banks in Ohio, what, then,
would be our condilionf Would we he
any nearer The consummalion souQht for
by Benton, Tappan, and other eph, dol
HAr A d0V mani Whilst ,ho hn,L;no