The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-07-29
THE pET BANK sYsTEM.

IeSt, 10 thcy hup uiihui1
for party, and forgot their country, repealed the
Independent Treasury Law, and left to that man,
John Tyler, (the most corrupt of politicians, if we
are to believe Wing denuncia,ions9 the direction
and deposit gilmore than ONE HUNDRED MIL
LIONS OF DOLLARS! The present Democratic
Administration is burdened with this perncious
system, for which it is not to blame; but if it re-
mains in existence after the next session of Con.
gress, and the Democracy conscientiousy do not
their utmost to effect change, they will then
become Justly censurable. But on this point our
party is pledged. We have nothing TO fear; as
party we have ever been willing to make pledges
to the people, and equally prompt to redeem them
when made. And it is an unquestionabe fact
that the restoration of the Independent Treasury
was an issue presented to the people fthe Union,
and decided in the affirmative by the election of
Mr.. Polk to the situation of Chief Magistrate.
The Convention, held at Baltimore, which nomin
ated him for this distinguished station, in the res
olutions declaratory of the principles of the party,
have the following:
"THat the separation Of the moneys Of The
government from banking institutions is in
dispensable for the safety Of the funds of
the government and the rights of the people" "
Upon this bold and distinct Issue the decision
was made. No intelligent man gave his vote in
the contest of last year, no matter what might be
his ruling motive, but knew that the success or
defeat of the Independent Treasury was affected
by it; and, therefore, the Representatives of the
people have now no other duty to perform than to
ca rry out the will of their constituents by sepa-
rating and purging the government from connec-
ton with Banks and dependence on them in sea-
sons of difficulty. During the last war halfof the
cost of its maintenance paid to banks, for
which not one cent Of benefit was received.
In peace or in war, in prosperity or difficulty,
bank corruptions cannot be enumerated, their
poutions penetrate, like poison, every vein and
artery of society, benumbing all healthy action,
and slowly maturing the elements of decay; for
if ever America falls from liberty into despotism,
banks and banking will be found to have sapped
the honesty and undermined the manly virtues,
which yet thank God! mark the character of
the mass of our people. Banks first purchased
the fee simple of the souls of venal conductors of
the press; they were the first to buy Congress-
men and stateamen like cattle in the market and
with these traitor-mercenaries openly engage in
a contest against popular power, defy the laws,
and endeavor to substitute the rule of mammon
for the government of liberty. That they have
done is matter of history, and is warning
against their having any further opportunity to
use the peoples money to seduce the public SER
wants.
Our people have not forgotten how the deposit
banks failed in the revusion of 1887 8, involving
the government in the consequences of CONNER
cial disaster. Their liability to be influenced by
foreign convusions and the facilities which they
afford for draining the specie from the country
| by foreign capitalists, mixing our interests up
with the schemes of European cupidity, prove
their unworthiness to remain the fiscal agents OF
Democratic Republican Government
We make the following extract from the money
article of the New York Herald, Wing paper,
and not likely to represent bankers disadvantag-
eously. The power now lodged in the hands Of
the Secretary of the Treasury is dangerous in
the possession of any man be he ever so pure,
it ought not to exist moment longer than till
better system can be substituted; and the nearer
any system brings the revenue under popular con-
troll, the more firmly will it be adhered to by the
people.
After stating that the Secretary W i'll soon com.
plete his arrangements for the safe keep ping of the
Public Moneys and will choose g more safe de-
positories,"- Bank of Wooster? 1.-THE article
proceeds:
"Reforms in the Government deposit sys-
tenn have been called for, and will even at
this late day be attended with many advan-
tages. Fortunately the Government has not
lost anything recently by the explosion of
any Of the repositories, as the times have
been prosperous, and the local banks have
not been subject TO any arrangement in COM
mercial affairs, Had there been any revul-
sion in money matters, and the banks been
serious sufferers by the insolvency of their
debtors, we should not have such favorable
report TO make, and the government would
not only have been heavy sufferers, but its
opponents would have made political capital
out of the errors of the administration, in
no, providing for the security of the public
money The Secretary is now anticipating
The approach of revolution in mercantile
matters, and intends placing the Govern
ment. deposits in places, upon terms. ensl-
ring at all times and under all circumstan.
ces, their safety and prompt disbursement?
So long as times are good, and commercial
affairs remain in prosperous condition, the
banks may continue sound and solvent, and
the Government deposits comparatively safe,
but the first unfavorablc change in the times,
the first black cloud that appears in the COM
mercial horizon, cndangers their safety, and
creates fears and forebodings in the minds
nE those rnSnnnSillo % Tho rnarln for Tho