Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1845-10-08

single solitary whig dared to break
through the trammels Of party, and gol
for equal justice and equalsIaWs. Eve
ry other whig, true to the instinct of
his nature, voted against these propo-
sitions, while, with pride and with pleas
ure, we do proclaim the fact that eve.
ry democrat true to his feelings of jus.
tice and Of honor, voted to make the
carriages Of the banker as liable for
the payment Of the bankers debts, is III
lhe horse, upon which The poor man
depends to plough his rented gro6nd.
liable for the debts contracted aa ars
r3ish medicine or food for his SICK OF
suffering family. ?
But the wings may say that these
propositions embraced individual hd-
biiity to the fullest ertent, and though op.
posed to that, they are in favor of a
limited liability. just so they talked
during the winter Of is4O-4l, and the
democracy, believing that little LA.
bility was better than no liability at all,
determined to test their sincerity, and.
accordingly, at page Alb, we find the fol.
lowing--the State Bank bill being un.
der consideration.
Mr.. Morris then moved to amend
the bill by adding the following as the
6Sth section:
Sec. 6s. Each stockholder shall be
liable, in his individual capacity, to
the creditors of the branch in which he
is a stockholder, for the debts of such
branch, in proportion to his stock, in
the event of a failure of the branch to
pay gold and silver with summary pro-
cess for the recovery; and all alienation
of stock to avoid his liability shall be
void.
Here, then, was liability limited on
ly to the amount Of bankers stock;
and gentle reader, what do you sup.
pose was the fate of this proposition?
Let us see. The yeas and nays were
called upon its passage and we're
yeas %, nays 40. t9
The democrats who voted for it, were,
Messrs. Aten, Baldridge, BARLEY,
Brough, Burns, Dunn, jenkins, John.
son Of Monroe, King, Morris, McAnel.
ly, Rafensperger, Rilbert, Shreve,
SpindIer, Warren, Wilson and Wood
-lS.
The wings who voted for it, were,
Messrs. Bliss. Clarke, Giddings, Har-
len and (For0 Speaker-5.
The democrats who voted against it,
were-NONE.
The wings who voted against it
were,
Messrs. Allen, Bell, Brown, Caroth.
ers, Carpenter, Cook, Dunham, Flor
ence, Griswold, Hamilton, Israel, John.
son Of Cuyahoga, ,Kaler, Koontz, Lamne,
Marsh, Moore, Perkins, Pollock,
Probasso, Reece, Reeves, Reymons,
Robbins, Scott of Crawford, Scott of
Green, Scott of Harrison, Shober.
Smith of Adams, Streather, Stinson.
Toland, Vincent, Van Vorhes, Way,
Weaver, WEIGH, Wheeler, Worthing-
Ton ana 4Oung-4U. &@
Thus, will it be seen that only five
wings were willing to vote for even the
most, limited liability of bank stockhol-
ders, although then, as now, they claim
10 be in favor Of it.
Our want Of room compels ms to o.
NIT the several sessions between that
of le4O-'4l until that of last winter.
During this time democracy was in
the ascendent, and the individual liabil-
ity was incorporated in all charters,
with other safe and salutary restric-
tons. Last winter, when federalism
again came into power, all that the de.
mocracy had done to save the people,
at the imperious mandate of the tin
pan, headed by Alferd Kelley, of the
Life Insurance and Trust Company,
Drake, the cashier Of the Xenia Bank
and other bankers and bank defenders,
was undone by federalism:
SESSION OF ls44-45.
In SENATE, January "a, ls45.
The bank bill introduced into the
Senate by Mr.. Kelley Of this city being
under consideration, Mr.. Barley NOV.
ed to amend Thy adding the following
as section SIS.
1.-THE stockholders of each and
every bank, which may engage in the
business Of banking under the authori'
ty Of this act shall be severalIy liable,
in their individual and natural capaci-
ty, for every note or bill issued for
circulation as money by the bank Of
which they are stockholders; Eland
all transfers Of stock to defraud the ere.
ditors Of the bank. or with view to
the insolvency Of the bank in which, the
stock is held, shall be void.
Mr.. Anderson (coon) called for a
division Of the question and it turned
upon the first branch oft amendment