The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-07-15
From the Marshall (Micb.) } Expounder.
THE ST. CLAIR BANK

THE ST. CLAIR BANK.
We are tired 10 death Of this banking bust.
ness. How the people Of other counties ol
Michigan feel with regard to the swindling
operations carried on under the name Of
banking, we can only judge by the tone Of
the press. How the people-more especial
ly the democracy-of Calhoun feel, we
know pretty well; and we speak the voice
Of "our constituency" when we say let it be
done a,uayi
We have talked long enough about the
evils Of banking. Mere talk will never re-
medy the evil. Daniel Webster said long
ago that it was the most ingenious expedi-
ent ever devised to fertilize the rich mans
field by the sweat of the poor mans brow;
but whenever company of" rich and res
pectable" men have asked any Legislative
body of which he has been member, for
a banking charter, he has been foremost to
pote for them. Too many democratic states
men and Legislators have been guilty Of like
inconsistency. And while our legislature
continue to vote for bank charters, their
talking against them will not avail much.
Not only the Legislators, but the masses
of the party, in their action on the question,
have too often failed to come up to the prin.
ciple professed. How often have the de-
mocracy looked to the bank parlors for men
to fll the highest Offices Of the popular gift ?
Can we expect our anti-monopoly prnciple es
to be carried out by such men? If we fill
our legislative halls and executive chairs
with men, who are interested in banks, OF
who desire the creation of new monopolies,
car we wonder that the pernicious system
continues TO be upheld by law; and that new
comp inies are continually licensed TO de-
fraud the public--or, in the language OF
Webster, "to fertilize their fields with the
sweat of the poor mans brow?" The en-
ormous evils inflicted on. the community by
the banking system, call loud for ACTION!
In addition to the baleful influences Of these
incubi, exerted within the limit of plunder
prescribed by their charters, we have every
year Or two, a robbery on the grand scale, in
defiance of law and authority. Do the peo-
pie complain when they are robbed Of hun
dreds of thousands Of dollars, by one of
these iniquitous Institutions; they are grave
ly told by tho Legislators who created the
federal machine whose explosion has blown
all their hard earnings into annihilation-''Its
unfortunate to be sure, but there's nobody
at all to blame!" How much longer shall we
tamely submit TO be "gulled" by those fool
ish lies? Have we, and our neighbors, been
robbed through the Bank of 81. Clair, of
tens and hundreds of thousands of dollars
and has nobody done il? Do such disastrous
effects occur without causes! 1t is said
" there may have been no legal dishonesty
in the failure" What matter it whether
there was or not? The Signal Of Liberty
most pertimently asks" who ever knew Of
legal penalties overtaking bank officers or
directors?" In truth a bank charter is a
" letter of marque" issued to company of
men who purpose to get their living dishon-
estly, and against the community generally.
We mean what we say; when we use the
term "dishonestly;" for when men apply for
bank charter, they do SO with the inten-
ton of getting living without labor-with-
out profitable industry; and this is dishonest.
Will any man deny it? Banking, so far
from being an operation of Profitable indus
try, is worse than idleness-it is positive
injury. What then is the distinction between
the officers Of one of these shaving mills
and any common chief? Nothing-5ut the
arbitrary custom of society.
WOor, NJ, prlo ooy,,a MI, do orinr avc,, r,; ,no