The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1845-01-22
The "CheQuer-bOard Monster OF two

The "CheQueF-bOard Monster Of two
faces!n
As we predicted, (says the Staiesman) the
wings as well as democrats will stand forth as
tonishcd al the monster monopoly produced by
the iin-pan operations of this city. Horrible,
however, as Kelley's bank bill is, the keepers of
it here boast that they hare strength enough TO car
ry it through!
The Cleveland Herald, the organ of the wing
party for The Western Reserve, thus boldly at
lacks this hydra-headed monster of a monopoly,
or as the editor facetiously terms ii, the Che
quer-board monster Of two faces" Hear him.
Wonder when the Journal will express an opinion?
From the Daily Cleveland Herald, (whig)
BANKING IN OHIO.
We have received a copy of a bill oto incor.
porate the State Bank of Ohio and other Bank
ING Companies,'' in all Extra from the State Jour
nal. This bill contains 73 sections, and occupi-
ed ten columns of the journal. We have given
it a hasty reading, and regret TO say that the
worst fears of the friends of a free banking law
are more than realized by its provisions. ltcom-
bines the safety fund system with a delusive pro-
vision in relation 10 free banking.
1t is a kind of chequer-board monster, of two
faces, and manifestly intended TO throw the
whole m~oneyed power of the State into the
hands Of the monopolists.
1t is not our intention to-day 10 dissect this bill,
or 10 allude 10 its deformities, but we shall pub
lish it in a few days tina; our readers may Judge
for themselves.
To the monopolists, this bill gives all the pri-
vileges of the most odloIs close corporations,
while the free banks would be tied hand and
foot at their mercy; indeed nothing but the name
of free banks would be enjoyed by them.
The close monopoly of a branch of the State
Bank OF Ohio, with a capital of $l50,000, weuld
enjoy a circulation of $275,0OO on the mere de.
pest with its Own agents, a -" Board of CONTROL"
of $27,5O0 as a safety fund; while the free
banker, with a capital of $l5O,000, the same
amount as the other, could have articulation of
only $4,000, on the deposit with the State Treas
urer, not its own agent, of $4,000 of Ohio stock.
The free banker secures dollar for dollar by
State stock, and gain dollar for dollar in solid ca
pital, while the monopoIist secures 10 per cent,
by his deposit, 40 per cent by his capital, leuv-
ing SO per cent. of his circulation for which the
public have no security ! This is equity with u
vengeance !!
We call upon our citizens TO look this matter
in the face, and see whether they arc willing thus
10 be bound hand and foot by the laws of their
own making. If not, they must arouse them
selves and make their voices heard in the matter.
We have had iRtimations of the designs of the
monopolists, The old hunkers of the defunct cor
porations, but have hoped that there was good
sense enough in the Leg stature to defeat them
but when we see all their plans, in even a more
odious shape, brought forth in the shape Ct abill
by the Currency committees of both branches,
we confess our alarm. We beg our Represen-
tatiyes at Columbus to stand fast, and permit no
such unjust Legislation. We shall refer TO this
subject again.