The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1845-01-29

L 49, ~@-NAt - 49,
passage of KELLEY's Monster Of Iniquity, then.
they are prepared TO live under a Monarchical
system of Government. 1t is a hard matter TO
say which is the worst. Lord KELLEY and his
British Wing Tin Pan coadjutors, purposely
drafted a lengthy bill, full of justification, pa
tent ambiguity and abslruse machinery, so that
the people would not read it, and if read, so il
could not be understood:
WEsrvILLE, Jan. Is, 1S45.
Dear Sir have carefully read Kelley's bank
bill, but ! am free to confess that | GO not under
stand it. 1t ismy sincere opinion that a majority
of The people are not capable Of understanding
il. | believe, too, that the majority in the Leg
stature are not willing 10 have US understand
he scheme embraced in the bill. 1t is, indeed,
filled with a little of every thing bat ~saletysto
the bill holder--a more astonishing, corrupl bill,
for "fertilizing The rich mans field, with the
sweat OF the poor mans brow" never was seen
by any one, than is this bill. Surely it may be
sad in truth, that the acts Of the federalists;
when III power, are made up of blunder and base
ness. We all know that to exonerate partners
from the payment of partnership dues, is 10 Gu
courage immortality, rashness and fraud. t.
"Under any circumstances in the words oil
an able writer and experienced banker, III
seems inexpedient, as regards the public, and
unjust as regards private bankers, TO favor espe-
cially joint stock banks, by making a particular
law in their behalf.'' And the practical opera
lion of a legisIating act granting to associated
parties the privileges and the immunities con-
ierred by their being invested with the corpo-
rate character is, that "they may contract debts
" a specific amount; their charters thus vita
ting the fundamental principle of al! business,
and The essence of all confidence, viz: the in
tegrity 0 fcontracts. This surely may be termed
a premium upon great Villainy."
In the words Of Mr.. Tooke, a practical and
scientific writer of the highest reputation
Z" Hitherto the Legislature has restricted individ-
uals ander the seyerest penalties, from establish
ing mints, and uttering metallic money Of intrin-
sic and ndestructable value; yet, with a degree
of inconsistency which strikes us as most extra
ordinary the more attentively we consider it, our
law makers have permitted individuals 10 estab.
fish private banks Of circulation and 10 utter pa
per money which a breath Of panic may at any
time Destroy" | was strongly in hopes that the
individual liability principle would be strictly
adhered TO by the present Legislature, or u ma
jority Of the members, for they must all know
the panic has passed by, and that better times
have approached. | had hoped that the Roor-
back coors had learned, by experience OF the
past, that The best system Of banking ever yet
invented by the art and ingenuity of the money
mongers, is but a studied system of corruption,
liable TO alternate expansions and contractions-
~ruinous TO and trade Of every de
scription.
The people arc now beginning 10 pursue theil
occupations with determination and renewed
energy, and all they want is, TO be let alone
The newspapers are not filled with notices 81
IShorif's sales as heretofore, but if the loose
swindling system of banking IS again to infesl
our State, we may expect an expansion that will
raise the price of every thing above lis proper
level, which may well compare with the rise
and fall Of the waters in this country. First,
a rise takes place, all the little ~rivulets and
brooks arc filled to o~veIfowing, and the large
waters are rushing forward with impetuosity-
The little fish are driven up the small streams, TO
keep out of the way of the large fsh-now
come a drought, (contraction0 the little streams
Ipour out all their contents into the larger
streams, leaving the "small fry" upon dry land to
perish, hence the cry is e%Xtorted, more water!-
more water!
| mean that the banker is the large fish who
live in the large cities, and know when and how
to expand the currency. Those who live in the
country look at the redundancy of the currency
as a favorable omen, and with ease they obtain a
few dollars, and away they 60 to buy the pork,
-four, &c. Before they get into market, u con,
traction takes place, the streams run dry, ard
they are left TO perish in the general scramble
for some puddle hole of a bank TO help them
forward, and the cry started, o! for banks-more
money-more money-as if their destroyers
we're their only %saviors. How much this looks
Ike kissing the hand that nHicts the chastise,
ment-spaniel like.