The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-05-23

quont and increasing at tie llme Inc lllOer-
MIA left. The grant will nevertheless be
made, and as Maynooth is College wholly
for the education of Catholic Priests, the
object of the Peel Ministry in risking po-
pularity Oil account of this grant is easily
understood. O'Coanell however affects 10
consider it triumph and has made 1t the
occasion of some uncalled for remarks IN
relation 10 the Uuited States.
ST.. CLAIR, MICHIGAN, AND SANDUsKY
BANKS. &c.-We have received but little
intellig gence in relation to the Smiths and
the ST. Clair Bunk, since our last. Either
from inability or unwiliGgness, (boih, per-
haps,) the Messrs. Smiths, who have done
most of the business Of the ST. Clair Bank,
have not furnished the public any statement
calculated 10 throw light on lis condition, or
TO allow of an estimate as TO the value of lis
paper. The Newark Gazette speaks feel
ingly of the severity of the blow TO Licking
county. Il expresses the opinion that from
$50, 900 TO 100000 of ST. Clair money is
in The hands of the people ,of that county,
who, from their unbounded confidence in
the solvency of the Smiths, were always
willing to receive it. One farmer is men
toned, who had $40 dollars of it. A young
woman, who was teaching school, had one
hundred dollars. Thus owing to the absence
of good banking system of our own, an
irresponsible affair has been permitted to
swindle those, of all others, uho are least
able to bear the loSs.-Ohio State Journal.
And we have now what the Journal considers
Z" good system Of our own" in Kelley's State
Bank law! By the time it has existed as long as
this swindling concern of the Smiths Gfi should
unfortunately so long possess vitality) Ono VIII
have lost far more than she loses now. But we
do not beicve-no reasoning man can honestly
believe that 'good safe system" OF Banking
can be established in this western country
Within the last fifteen years one half OF the
Banks of Ohio have failed, founded on as good
banking systemn and we believe infinitely, bet
ter than we have now. Yet we hear OF no Wing
sympathy for those persons :" of all others who
were least able to bear the loss" swindled by
mockery for the defender and eulogst of our State
Bank to talk of responsibility. We have it not,
or ever will have it if wings rule.
But in this case it is the wings who are res
ponsbe for the circulation of this trash OF the
ST. Clair bank, Michigan. Twice the Democracy
passed Law to render penal .ha introduction of
g irresponsible paper'' from other States, and
twice the wings repealed it. They now claim it
was dead letter on the Statute book. Would
circulation of 100000 in one county ever have
taken place if either of these laws had been in
force? Or would these Smiths have come to our
State with foreign paper to swindle our farmers
and mechanics? The Journal does not believe
such an absurdity. At all events, Wing legisa-
tors took care to do away with the protective laws
lest they might be an impediment in the way OF
such inanciers as the Smiths, and should receive
full credit for their acts, and be compelled to bear
the odium attached to their consequences.
The Pittsburgh Post of Tuesday last says:
=" MICHIGAN MONEY which enjoyed short
credit among our business men, is down
again, and this time we think it is "gone for
good" The Bank of ST. Clair, is complete
smash, and as large amount of lis paper
was in circulation, the public will suffer
seriously.
This failure, as in all similar cases, falls
most seriously on the laboring poor. Many
of them in our city, who have been endea-
vorng TO save portion of their earnings
have It in the paper of this Bank, and we
think it very doubtful whether they will
ever be able to realize any thing from it or
not, as we observe the Cleveland Brokers
refuse to buy it at any price"
| Michigan Bankers are only little more eager
than others They fail too rapidly. Our Ohio
Banks are more moderate. They fail in rotation
and thus avoid the sudden panics raised by their
neghbors. But one thing is clear in this as in
other cases that our small bill system causes these
faiuresto fall most seriously OH the laboring poor'
Thss one reason why rich men pleased with
Banks. They participate in the profits and bear
little or none of the losses, of these swindling
institutions.
WING TAXATION it be remembered
that in reference TO the tax law, the Ohio
State Journal used this language:
"The bill taxing merchants capital ac-
tually employed, money at interest, and