The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-03-07
sneech Of Mr.. BALDWIN.

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Mr.. SPEAKER:
The lateness Of the hour, the length of
time this discussion has been pretracted and
the impatence Of the majority, all admonish
me that should consume but little tine in
submitting my closing remarks. The deed
is to be consummated, and this bill with all
its denominations is 10 pass this branch Of the
Legislature. and most likely become law
of the State. The minority cannot prevent
il. We have done all in our power to avert
the evil, but in vain. We have presented
amendment after amendment, and submitted
proposition after proposition, calculated 10
modify and improve the bill--to put such
safeguards, balances and checks about the
bankers as would be some security to the
people, but these have failed. We have
endeavored to reduce the capital and clrcu-
Iation authorized, TO point that would be
bounded by the limits of safety-that would
not inundate the State with paper clrcula-
ton, and bank discounts TO an extent calcu-
lated 10 unseule the entire business of the
State, and utterly destroy the industrial pur-
suits ofour people-but these endeavors have
proved futile and unavailing. The majority,
as if spell1bound and vergng to destruction
themselves, have closed their eyes TO facts,
and their ears to argument and reason, and
rushed forward as though they wished to
plunge the State and her interests into the
same gulf 10 which they are fastening, and
from which they will never return.
| do not propose to offer further arguments
as to the expedency or dangerous tendency
of this measure, but / ask the friends of this
bill where they find the power to pass it?
We are acting under the solemn sanction of
an oath to support the Constitution of the
United States, and the Constitution of the
State of Ohio. However desirous gentle
men may be to establish banking system
however useful they suppose it might be to
the citizens Of the State, they surely do not
wish TO establish it at the expense of viola
ting the constitutions they have sworn to
support. This do not believe they desire
to do. / then raise that question for your
consideration. If the power is given by the
constitution TO incorporate banks to issue pa
per to be used as money, you can point it
out. 1t is not sufficient answer to this
question to say that others have exercised
this right before us-that good men who had
taken the same oath have incorporated banks
of issue. Our oath is to support the consti-
tuition of the United States and of this State
not to do as others have done before U.S.
Let us then look to these constitutions and
see what are our rights and our duties. Let
US look first at the constitution of Ohio, and
see whether it confers on the Legislature
unlimited powers The 2Sth section of the
9Th article is in these words: "To guard
against the transgression of the high powers
which we have delegated, we declare that
al nowere mot hereby delegated renn"in with
the people," From this section it is clear
that our constitution is delegation OF powers,
and that as representatives. acting under that
constitution, and sworn 10 its support, we
cannot incorporate bank, unless by the
terms of the instrument itself the power is
conferred upon us. Let us now see what
power there is given to us to grant acts of
incorporation. The only allusion TO the sub
ject to be found, from the beginning to the
close of the constitution, is in Sec. 81 of
Art. 8, and is in these words: +" That every
association of persons, when regularly form
ed, within this State, and having given them
selves name, may, on application to the
Legislature, be entitled TO receive letters of
Incorporation, TO enable them to hold estates,
real and personal, for the support of their
schools, academies, colleges, universities,
and for other purposes" The uses for
which acts of incorporation are to be granted
are enumerated. They are to enable the
corporators Ito hold estates real and per-
sonal," not for purposes of banking or ssu-
ing paper money, but for the support of
their schools, academies, colleges" and uni
uersities" 1t is true the words " and for
other purposes" are added, but can you
from these words enlarge the grant? ap-
prehend you cannot. 1t is correct and
conceded rule in constituting grants ofpower,
if all that is intended to be granted is not
enumerated, to consider the more important
as being named, and the minor or less i'm
portant as embraced in the general clause.
To change this rule would do violence to
every Just principle of construction, and the
plainest dictates of common sense. Apply
that rule to the section under consideration
and what would be the just inference? II
would be that the constitution gives us the
power to incorporate companies for the sup
port of schools, academies, colleges, univer-
sites, and such other objects as are of less
importance than these. Now, will gentle
men contend that companies vested with
power to do banking business TO the amount
of millions of dollars, and 10 issue paper
to the amount of twenty-one millions of
dollars to circulate as money, are of less
importance than companies formed for pur-
poses of education2 If they will not, then
you have no power under the constitution
to incorporate them. | do not charge the
majority with wilful and deliberate inten-
ton to violate the constitution and tAeir