The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-03-21
NIonstrous WING Project for Cheat

| ANAVHDehVshD w hhh8 hVJSOs hOA OAhSaAs-
ing.
There seems to be one prominent rulini
passion among the coon party, frem enc en'
Of the Union to the other, and that is Il
use the Legislative authority Of the govern
ment to confer monstrous powers upon fsy
privileged men TO rob labor of its earnings
I" One" Peters a leading coon lawyer Of New
Orleans has, been trying to out rival his CO
laborers ID Ohio.-Ohio Statesman.
~ From the Now Orleans Courier.
v MUTUAL INSURANCE CoNpANY.-The pub
lie mind is greatly excited by the discovery
of the attempt to impose this NEST impudent
scheme of monopoly upon the Legislature
and the people of the State. We admit that
accustomed as we have been for years, to
contemplate the Vaccinations of the bank
men, we were amazed when we heard ofths
measure. We could not be made to believe
in the existence of such a bill until we pc
rused it-and then we were obliged to run
over it twice before we comprehended the
full extent of IFS enormity. Our readers re-
member that towards the close of the last
session of the Legislature, project was
formed to renew the charter of the City Bank,
although said charter will not expire until af-
ter the lapse of five or six years. The rea-
son for thus anticipating the march of time
was the well founded apprehension that the
State Convention weuld prohibit the incor-
poration or reincorporaton of such institu-
tons. The project was so universally dis
liked that it died at its birth. If we remen-
Der correctly, it never was brought before
either House.
Disappointed in their hopes on that occa-
sion, the same individuals have introduced
the Mutual Insurance Company bill to the
aware that should it be passed,
it will answer their purposes thousand
times better than could have been done by
a renewal of the City Bank Charter. Let
us examine for moment the nature of this
Mutual Insurance Company bill. 1t profess
es to be common Insurance Company to
effect insurance on the objects usually in the
of such associations. The
5th section of the bill enacts that Charles
A. Jacobs, Samuel ]. Peters, w. Bogart,
James Dick, and l.. Matthews, shall be com
nissioners "to receive applications for insu-
ance to be effected by said company; and
is soon as applications amounting TO $780,
100 shall have been received and secured by
bligations to the satisfaction of the commits
toner's, said commissioners shall give notice
b those persons who have made such appli-
alton of meeting for the election ofseven
irectors, and every person having so made
pplication for insurance shall be entitled to
ote at said election" in short the establish
lent goes into operation.
The 7th section enacts that it shall be law
ii 10 invest said premiums in bonds and
lortages, in stocks of the State and United
tatss, and to make loans upon the security
t said stock; to discount notes bearing mort
age and personal security, to deal in bills
exchange, and to loan money on bottemry
I'd respondentia.
What curious machine is this! and how /
lroitly put together. Five individuals meet
gether, and open books to receive applica- '
'ns for insurance to the amount of $780, 1
10 in obligations to be approved by them {
Ives, ,and then the establishmentisorg is organized. {
ut does any one suppose that these five in
vduals would give to any one besides {
emsslves chance of making these appl-
tons? In other words, of turning their F
legations, approved by each other, into mo- F
y? For mind, as soon as these 100000
obligations are received, the company F
es into operation, and every man who comes
er them will be compelled to have the F
cunt of premium cash in hand; the stocks G
purchased; money borrowed on those G
cks; and this Mutual Insurance Company G
| proceed to insure vessels, goods, houses,
res, lives, &C., &C., and to. do every act G
t an insurance company may do-IF
ley PLEASE, so to act as an insurance II
npany. But mark the little clause that Je
mes afterwards-they may discount notes X
ring mortgage and personal security; L,
Il in bills of exchange, loan money on L;
tomry and respondentia. Does any one M
ieve that Samuel ]. Peters would insure M
sells, houses and stores, and be the mere M
ID of an insurance company, when he Nj
Id discount notes, deal in bills of exchange o,
possess all the powers of bank? Is Or
forbearance, this self denial character OF
, of the man and his tribe of bank men? Ur
= truth is, this Mutual Insurance Compa- WI
is banking company, nothing else. - w,
} name is mere cloak to hide the real
gn, and if it be incorporated in this or Ia
other shape, the Legislature will deserve
eternal execratons of the people of Lou Co
Ia. Sa,
~ ~---- Bal
we had subscriber on our list that we Me
ght would not take the following as an Oh
Use for the want of a single line, we Gu
Id erase his name therefrom. Ne,
The business of the editor has been too
tifarious to admit of his paying much Gu,
ltion to the editorial department of his Fra
r. Our IOllrneyman and deui1 bovo | Ral