The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-06-27
From the N. 4: Evening e Post.
JUDICIAL LEGISLATION.

long TINE 10 mature, on many questions OF
general interest, sometimes is urged on by
unexpected events, to make rapid strides
towards correct conclusion. For more
than fifty years--indsed ever since the adop-
tion of the Constitution---the progress OF
ideas on the subject of banking and currency,
has been slow and unsteady. A great and
f. important point has been reached however
by the final settlement Of the much yexed
q question of National Bank. There is, we
believe, not press to be found in the coun- 6
? try which now raises its vsice in favor OF theF
necessity Of such an engine, simply becauser
Il il well settled point that such voice
would not find responsive echo IN theE
country.
Vea II was supposed that another step IN ad-
vance had been taken, IN thus STATE, py incl
adontion Of the General Banking Law--the1
law authorizing the establishment OF an unli-I
mited number of Free Banks, as they wereI
most improperly termed at the time. ThisT
law Of 1888, which like all other legislation
which preceded il, violated the first prlneiple|
Of sound finance, by undertaking to CONTROL!
by Legislative enactment, that which should
be left to individual sagacity and enterprize,|
oi has within few days, been made the subj
;ect Of deliberation before the Supreme|
Court Of this State, and has received, as the|
unanimous Judgment Of the Court, through
lis Chief Justice, Bronson, deliberate and
unsparing condemnation, on the ground OIL
unconstitutionality.
The importance of this decision, affectng
the interests Of society in IFS most tender
th4sas L ut n
statement of the capital of the Free Banks m
as compared with that of the safety tund IN
stitutons. This statement gives % free
Banks SSI .644,42l and Of Safety fund 81
corporations capital Of $s7,762,92S.
The free Banks have about 500, ,0OO, 900 due
them and involved in 1he constitutlonalty OF
the new law.
y The case which Immediately called Out
this opinion Of the Court, which it was well
known to have long entertained, was an IN
sdiciment for passing counterfeit money-.he
bills of the Bank Of Warsaw. This lnstltu-
tion never went into operation, and never IS
sued any bills. A man named De Bow
undertook TO supply this emission by utterlng
li;notes purporting 10 be the bank notes OF TINS
institution was indicted as counterielter,
found guilty and sentenced to five years IN
the State Prison. In his defence 1T was
a maiutainedsthat the Bank Of Warsaw was
mot only souless but bodiless institution
The act under which it was created being un
constitutional and void, because il required
and had not obtained a two-thrd vote. Iht
Court was called upon TO charge the Jur.
accordingly, and refused. The counter
n fsiter's counsel took exception, and the case
was carried up TO the Supreme Court, ant
the Judgment reversed.
The basis of the decision is the 9th sec
ton of the 7th article Of the Constitution
requiring two thirds vote, for every bll
creating, continuing, altering or renewing
any body polite or corporate The onl.
point arising out Of this question under thl
article of the Constitution, is this: is
4 bank created or continued under the Gene
raj banking law, a body polite or corporate?
aTo some minds the question would no
admit Of doubt. The Court Of Errors itsel
though predisposed to exempt the law fror
The two thirds rule, could not be brought I
saw thcy were not bodies polite or corporate
They did, however, resolve in the Beers cas-
sby a nearly unanimous vote: That the la,
was valid, and that the associations under !
were not bodies polite or corporate ,r'tbr
the spirit and meaning ofthe Constitution
The true remedy for this anomaly, which
while il continues to exist, cannot fail 7
keep aliyc condition Of doubt and unce
sta;nty from which all banking operation
oucbt 10 be free, is to be found in thoroug
application of common sense to declso
of Tho whole question Let the business {
banking be thrown open to the communlt
a large. and be as free from legislati,
shackJes as the business of ship buldln
packet sailing, buying and selling on con
mission. domestic and foreign exchange, II
issue Of notes or business paper, any 9th
lind Of trade. Under our present lmperfe
system we lean upon set Of representative
sent to Albany for other purposes, to DO tn tn
which we can only properly do tor ourselVe
We ask them TO protect us against bad nal
notes. Have they ever been able to g.
this protection to the community! IL
there ever been year, or month, or a da
when the people were not, duly legitimate
and nnder the sanction Of charters and &C
variations. defrauded of thousands? The
rislatiye seal is put upon piece Of engrav
naner az a lure to the unwary citizen I
takes that which the state seems to proHoun
good, and divests himself Of the caution Al
prudence which in all other cases wou
royern his affairs, and which, if it were
for the absurd ard deceiving Legislative int
ference. would govern him in this
A powerful agitation has been given
this question, after i had been almost lull !
10 rest, BY the present decision Of ihe ):
\ .lsa L. mi