The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-06-27
BANK-REPEAL.


have jotted down our opinions okeep pace with
the times:
We view the power exercised by the Supreme
Judiciary of declaring the acts Of precedent Le-
gislatures irrevocably binding on subsequent Le
gislative bodies as not warranted by the Constitu
tion of the State, or any law passed in accordance
with it. A similar opinion was not long sinces1 s1-
pressed by correspondent of this journal, and
we have on reflection accorded with its Justice
Otherwise, if the Judiciary possess the power
claimed for them by the Wings, we may as well
lat once yield the contest, and instead of appeal
ling to the people next October to put down this
most dangerous and pernicous creation of bank
ling system, we can save trouble by learning the
|opinion of the Supreme Judges and if unfayorable
remain in fettered and inactive acquiesoence till
1866, which time, if the present system of bank
ling SO long escape disgraceful insolvency, power
would be in other hands than those of the people,
For what object tho House of Representatives
was made elective annually, and the Senate once
lin two years, if this construction is correct we
are at a loss to know.
The State and Free Banking law was not de.
cided at the last election; it was nowhere made
an issue; it never received the assent of the peo-
pie and never can, (accordingto to the Whigs,) for
they have now control over it, to assentor con-
denim. We doubt whether the people yet have
a correct understanding Of its seventy-fve Sec
tons, and we do not believe its trainers ever de-
sired that they should Like tho Tax Law, it is
apurposely obscure, and will require more than
Auditor Woods extra judicial decisions to render
( It satisfactory. Many of the Wing representa-
of the bill, their microscopic vision could not for
see its results, which they distrusted, but like
dumb dogs they were whipped in to give it an
unwilling support, and they did their forced work
asilently, sullen3y, and mechanically.
! We know no beneficial consideration accru-
ling to the people from the banking system to
der the contract" of binding force 1t is true it
grants to bankers the special privilege Of borrow
ing public credit and making their evidences of
: Indebtedness circulate money, but it also rem
ders the people liaoleto all the consequences of
bank speculation while those who enjoy the pro-
fits are not responsible This, however, we should
think, would give bankers no claim.
& "Con,racts' should be of equal force and mu-
tualy bnding.s If the State incurs debt for
money services loaned she can refuse to fulfil
the obligation, and suly her honor ummpeded by
the action of Courts, though bound by the strong
est moral duty to fulfil her engagement. But
BANKER on whom the State has conferred gratuit-
3ous privileges can find Judges, with only doubt
full and implied power to declare that these priv-
;ndi hlvI State oh hon
\ lor, and sovereignty kick the beam when weighed
against Bank interests And while the Legislature
2abdcate the popular sovereignty under the plea
3of the necessity of having " currency" off bank
ers' notes of hand, these same bankers may, af-
ter having driven gold and silver out of circua-
ton by substituting paper necessarily of inferior
value, refuse at any moment they please to supply
Ian adequate amount of this e currency" reducing
prices, and making profit by this dishonest
use of the 6 contract" There is provision that
bankers shall furnish steady currency, or neg
ecting to do SO, give way for the free action OF
that provided by the constitutions they may pro-
Nduce huctuation g. distress often they please,
81 and then tell suffering and outraged people it
81 is privilege of their inviolable coNTRAoT''
III Besides, to give existence to law over which
be the monopoly conferred ever SO pernicious tt
d public interests, the Legislature for twenty-ont
years shall have no control, is an act of politca
suicide, an unwarranted surrender of the people,
] sovereignty by their agents This gift of almos
u absolute independence to corporations, if it il
" contract'' is of the funguses of feudal des
potism, at war with freedom and republican equal
H.. Jo hoIo IL a.
# of the people can, even by their concurrence
e thus be placed in abeyance and relinquished fo
i dWupwards of q generation, any more than free
q man can sell himself into slavery, and bind hi
: posterity by the act; much less do we conceiv
= their unauthorized agents can bind their consti.u
l., Hens for all time for if they have power to bin
dHbeyond the two years limited by the constitution
yHwhy may they not resign the peoples sovereign
IL ty for twenty-one years. for hundred years,
e for ever. Our rights, as freemen, are inherit
tance which we pre- bound to transmit to posterity
: -#unincumbered with ceded privileges, unalenate
I uby diminished power.
~ A bank charter is legislative creation abso
lutely perfect the moment of its birth, admittin
,,ffwof no Improvement or amendment! All othe
n laws which affect society-those which relate
LIFE itself--may be amended, altered, or repealed
:, those only which relate to the POCKET have tn
) odor of inviolable sanctity. This view might il
i'll duce new reading of Shakspeare-the orign
leE is not true to the modern philosophy; Thus,
who steals my trash it's something nohin
HTwas mine-'ts his-a loss sustained by thousands
But he who flches Bankers pictured rags, r,as
.HR Robs society of that which well enriches it,
MI Leaving it poor indeed .'.
,fM A bank chartered to supply the State currene
~ is held by to private corporation, entitle
Fl to the immunity granted to corporations whit