Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-05-21
TIL E Sc TIN Ell
YPsILANTI, WEDNESDAY MAY 81, Is45.
sIndividuI Responsibility
AND STATE PRISON RENALrY.'

'lnOIv10Ul responsibility
AND STATE PRISON RENALrY.'
Since the unexpected failure of the " Bank of St.
Clair has become the cry of portion OF the Dem
ocrac PRESS ard so great to be their confidence
in its efficacy, that really wish of their wise
would take up the principle, irrespective of party
bias uncaring whose nomination for the Governors
chair it might effect and solely DESTROYS TO serve the
cause of the public. This, they NIGH just as WELL aye
better do than not.
The truth is what the people are beginning 10
demand, and demagogues reckon sadly "wi.hou,
their host" when they think continually to gull
them with well-sounding sentences, and whole
strings Of correct principles before election, which
only serve to show the corruption of their pract.
ces afterwards. Of all failures, unfortunate for
the cause of the {" Democracy" the failure
ofthe Bank Of St. Clair is the most SO. With
our views Of the intelligence of the Wolverines
we see not how political capital could be made
for the Democratic party out of the failure of any
of our Banks. For, have they no, for years, with
all their perpetual Bank hatred, had entire posses
sion ofihe Stale Government! Have they not
for years had before them continual examples OF
the insecurity Of Banks! Have they not while
in quiet possession of their much loved but much
abused power seen an abundance Of the suffering
Of The people, which now, that another important
election is approaching moves their compassion?
Undoubtedly! The evils of suspension The
evils of the Wildcat, system, the evils Of failures,
had all been felt previous to the last three or four
years during which The Democracy" have reign
ed supreme. And yet, mark the damniug truth,
no measure has been passed which could avert
this disastrous failure or warn the public of its
coming. We have heard ola commissioner TO
exami he. and at stated periods report, the condition
of the different Banks. Where was The commits
sioner! The Governor, we believe, has duty
to perform towards them. Where was the Gov
ernor?
For any Michigan Bank TO fall without warn
ing, utterly pros, rate, affords ground for suspicion
that the party in power have not acted in accord
ance with their profession. But the Bank of ST.
Clair has been the subject Of their special Legis-
lation. 1t demanded favor, they imposed the con
were the conditions? Were they such as to Sc
cure the public from being defrauded? No but.
if rumor is correct, the condition was, that their
pay as members Of the Legislature should be Sc
cured in funds Of the Bank. In such corruption
was the creature bred and we do not wonder at is
end. And now how abundant the gushing SYM
pathies for the dear people who are to vote for a
new legislature and new Governor next fall.
With wha, countenance then can they renew
their old zeal against banks How can they ex-
pect to be trusted!
But 10 return. We as wings are as much in
favor of any alteration in banking operations which
will SECURE the people from losses as any party
can be. And if individual responsibility and state.
prison penalty will secure this end we would
GLADLY see il introduced. We are 10 earnest when
We ask some of its advocates to show its excel
lency. 49, ..e.s.-.. .,..-..se.
The following difficulties have occurred TO US
and we throw them out hoping that they may be-
entirely obviated.
FIRST, Can no man subscribe for stock in q
bank unless he possess sufficient property above
that which he propose to inves! to secure III
| Second, When stock is thrown into the market
is no person to be permitted to purchase It unless
he has property which he can cucumber to secure
iitl i. Tsa- se
/ Third. As long as person owns stock IN
bank must he either retain the property he ma!