Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1844-03-19

would an honest and cokfdine peopI
have thought i'll had disregsrded eli N
professions before the election, and eon
foran exclusive hard money curTencl
the very measure had disclaimed z
Yet, for not doing %, | have been so ur
fortunate as TO receive the nnmitiqate
denuneiations Of a certain portion OF ihs
lparty with which | had acied during m
whole life. Iappeal to Just aud gener
GUS people TO say 10 what extent l haV
msritsd those denupciatiOns. 4 have n
hesitation in saying that large maiorit
Of the citizens Of Ohio are this day ia "a
Vor Of we'll regulated system OF bank
ing. Are their wishes to be disregarded
Is there TO be a new test Of democracl
intrOduced-one that did NOT exist in tIiI
days Of Jefferson and Jackson, nor in thc
captests Of 'Ss, 40 and '42S l hav,
thought proper to say this much, in vim,
dicaton, Of my own consistency, and the
course Of policy which | have fell myself
called upon TO sustain. ~
Independent Of all previous promises
and pledges to the people, would il be
policy in Ohio TO dispense with all banks
at this timef In my Judgment il would
moi. If our sister States would adopt
this policy, or if there was any reasona
BILE probability that they would do SO il
we should sci The example. then there
might be some reasonin our advocating
an exclusive metallic currency. Yet l
would respectfully ask, iG we were 10
permit all Oc our banks to 60 out Of sx-
istancs, would a, metallic currency be the
consequence. feel well assured il
would not. We ate one Of a family Of
twenty six sovereign and Independent
States, each one claiming aud exercising
the right to incorporate banks. The
circulation Of each one Of he States,
with the exception, probably. Of Leuiss
lana, is principally bank paper. We find
ourselves surroun ded IN all directions
with banks, and the paper Of other States
freely used in all the business transac.
tions in Ohio. In matters Of business
and commercial transactions, State lines
are no more regarded than county lines.
We trade to Virginia and our sister
States with the same freedom as the cit.
izens of Belmont county do with those Of
Jefferson. The farmer who takes his
produce 10 Wheeling to sell, is compel.
ed TO take ia exchange The currency Of
the place. The drOver whe "a kes his
stock 10 eastern Virginia and Pennsylva.
nia, must take IN exchange the money
thai i in circulation at those placsss Il
viii ba composed generally Of the paper
Of Virginia and Pennsylvania. What is
he to do with this paperi Would you
prohibit him from Bringing II into Ohio
and paying il 10 his creditors, or other,
wise using il ashis interest might re-
qaire? Or would you require him TO go
o,ths various bankson which he might
chanceatO hold paper and draw the spec
Gle, before he could return to Ohio with
the value OF his stock? Such a law
would notbe sustained by public opinion,
and consequently could no be enforced.
ri could itwould impose a burden on
our people more oppressive than the hand
Of tyranny has ever ven.ured TO inaict on
a frae peo Jle in any country.
You cannot exclude The paper Of other
States fFom coming into this State and
forming a large portion OF our circulation.
only as you displace It with your own pa.
per. II We had sound banks ofOur own,
the deprecated paper Of other States
would Be condemned 81 she banks. and
consequently could not obtain circulation
among us. Foreign paper that would
be desmed good would find it's way into
our bsnl,s, and would be sent hOme..-
Our own bank paper woHld maintain the
largest circulation. But in the absence
of6anks in this State, the paper OfOur
sister States would flow in upon us and
constitute ihe lBrgest portion Of our cir
cuIat;on. The piIalists Of other states
would come among Us and buy up the
produce Of the country with the bank
paper Of ether States, and il would thus
Be introduced iniO general circulation ~
/ an aware that the river counties that
ship their staple productions 70 New Or
leans, where the principal circulation is
gold and silveF,aFs now, and will codtin-
us 10 be-, able TO o,command q liberal a.
mount oT gold and silver. But this would
not be changed BY the erosion Of banks
in Ohio. IFereat then, thasi II we exter.
inmate every bank in Ohio, we will not
thereby secure gold and silver ciTc0la.
ton. As we destroy our own paper cir,
culation, itsplacO win mainly be supplied
by the paper Of other States afi
We have practical proof Of this before
US. Last winter, thirteen banks went
out Of existence BY the expiTalionOf Of their
charters This winter two more expired
il the same Wsy--all these banks paid
specie for lhsir notes, and weFe, at least
as good il every point Of view as The
banks Of our sister States We have now
therefore, but : small amount OF Ohi0pas
per IL circulation, when compared with
| lhe aSoFe1ata amnllnk What Il the nOn-