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

VI lHuSS uccu MOI DC meuuOueQs ne
|. are fresh, no doubt, in the recolIeciio
!. Of all. The depreciation ofbank paper
consequent on the suspension Of banks
the doubtful condition Of many Of hem
and the known inconsistency OF some
excited the public mind, and attracted
the attention ofthe people to the man,
evils and great danger OF highly inflated
aud al the same time deprecated pape
currency.
The enquiry was then in the public
mind and with public men, how these
evils could best be remedied aud guarded
against in future. The banking system
had grown up among US without attract.
ling much notice. or public attention. =
Bank charters had been esanted with no
olhel restrictions or safeguards than such
as had been suggested By bankers them-
selves. II was obvious that the system
had grown far beyond the commercial
and real business wants Of the county.
The enquiry then was, not which OF the
two great political parties Of the conn.
liry had been instrumental in fastening
this loose and unguarded system Of bank.
ing on US, but who was in favor of re.
forming the system so as TO protect, in
future, the public interest against It's o.
buses. The whole democratic patty took
The ground Of bank reform, while our op-
ponents either justified, or, 10 some exr
tent. palliated the conduct OF the banks,
and maiotaRei that the system itself re.
qiired but little if any amendment. Tbs
WIS the issue between the two parties in
The contest f193S, and in every subse,
queni one, including that 1912, when |
had the honor Ofbeing last elected. We
claim ed that the banker should be made
personally responsible for the debts Of
the bank. 1t was the reformation not
the destruction ofihe system thai the
democratic party advocated. II was the
reformation, not the destruction, we were
bound as party to accomplish as far as
practicable. 10 every contest when a
candidate before The people, This was The
ground | occupied. The con:estofl63
resulted in the entire success Of the dem.
Ocratic party in both branches of The
General Assembly. In compliance with
the pledges solemnIy made to the people
beforS the election, the democratic mem.
bers Of the Legislature passed the bank
commissioner law and various other acts,
all designed to protect the people a..
gainst the evils with which they ware
hrestened. None Of the banks at that
time h4d less than three years torun be-
fore their chsrters expired. They were
all in stale Of suspension. Il was diff
cult to know their true condition.
Uadsr these circumstances It was not
deemed advisable to re.charter. al that
time, any Of The existing banks under
the restrictions and limitations advocated
BY the party. It was with great force
claimed that they should be first requir-
ed TO resume specie payments before
they could expect 10 be re. chartered
thai this would test their solvency, and
enable usto jndge what institutions we're
worthy ofpublic consideration,--tRst ia
due time the sound institutions should be
re.chartered under certain notifications,
OF new system enacted in lieu Of the
old one. Isppeal 10 every one who is
familiar with The history Of the question.
u this was MT the ground occupied by
tie democratic party until after the close
ofthe contest Of 1S43.
The history Of the question is too
fresh in the recollection Of our citizens,
10 require any proof OF The correctness Of
my remarks. The wings charged US with
bsing 10 favor Of the destruction Of ell
banks. This charge was TcpeIled az
slandeFon the party. In 1912, when the
extra session was called, and when the
wings, by vacating their seats, dissolved
the Legislature, Il will be rscollected that
our friends issued an address pointing out
the evils resulting 10 the public from this
act. Il was claimed that a bill 10 Ss.
chatter the specie paying banks under
proper restrictions had been defeated. -
ltwas claiusd then, BY myself and oth>
erss that il the law making power had not
been destroyed, the specie paying banks
would have been re.chartared a. set forth
in the address Of the democratic mem.
bers.
The doctrine Ofbank destruction, and
an exclusive metallic currency, vas ex.
ipressly disayowed in The contest OF lo42,
ss in alI previous contests Il was under
these circumstances | was elected
What vas ny duiyf What vas bound
10 do, il order 10 meet the Just expecta.
tions ofthose who had con6ded in my sol.
emn promises made before the eleclian
The duty whichI owed to the people vas
Iplain. / was bound By every cOnsideraS
lion which should influence public ulan,
tc carry out, as far ss | could, the re-
peatedIy promised measure Of bank re-
form. Aflst having, n common With the
whole Of iha democsaliespaEtys FePelled
/ 1.-The charge that We were fOF bank dsSlIue
Itlon, sgIsF haviAg promised lo aid ID bull
lding ub ! eopRd system 1of bsRkiFg vhp