Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1845-01-14

and Trust Company, is in q solvent and
COED condition. But this is no reasop
Why The principles Of safety,should be
abandoned in coRferring upon tihe priv.
ilege Pf issuingpsaer nGhey.. :. |
The charler II this compsoy Is per.
peiupl. Il has noN the power ID lend ils
caPHaFa Z per 'ceRt. Interest on bohds
and mortgage. Il has The power ores
ceive deposits and use them at profit
the power 10 deal in The exchanges Of ,be
Tcouu-ry--i CsPscuiSts N siocEs-S6d ma-
q other powers MOI usually conferred on
banks. And besides sI This. il Is now
proposed TO -anihotizs lilo lend out its
promlssory Dotes at profit, in the form
Of paper money, TO the amount Of Eve
hundredsIh0usand dollars, without requir-
ing Tito keep on hand one dollar in srs.
Gle. ..,..~....... -,
The Efiends Of this bill have voted
down o proposition 10 amend this bill so
as 10 make the siockholdOTs individually
kliable for this issue Of paper money. In.
Enthusiastically ofihe stockholders-the
limitation .ofthe amount Of the loans 10
The directors and managers Of the. insli1
lulion-the limitation on The issue o:
notes, or shinplaslers-in short, every
safeguard called Tor by the people Of
Ohio, is abandoned by this bill. Twenty
years ago, the Legislature Of Ohio
would have been stsrlledb by proposition
70 grant the privilege TO manOiac lure ps.
per money on such loose and unguarded
terms. Have we learned nothing by the
lights Of experencef Have the recent
runous snd disastrous commissions Of the
paper money sy7lem failed TO leave any
impressions upon our minds-failed to
leach US any lessons Of wisdoms '
The people Of Ohio.in my humble opin-
ion, (ssd Mr.. B } will never sustain Us in
cUnfsuing the power 10 manufacture mo-
ney out Of debts, on such unsafe, loose
nd uDgarded Terms az those here propos'
ed. ..'- ,.,
NJ, KELLEY Of Franklin, replied to
Mr.. Barley, charging that the Trust
Company was erected by democratic
''eglslatuIe-that, Of one time, in this Gle
~ the Trust Company had beFriended q
widow by buying in property belonging
20 hor at two thirds its appraised value,
and gave il back 10 her al lbe price paid
and !bal she sold il at an advance. MIX.
replied at considerable length TO the 70.
marks Of Mr.. Barley. @i.'"
The debate was further continued by
Mr.. Barley, al the conclusion Of whose
speech, Cd
Mr., KELLEY Of Franklin, said he WIS
willing to amend the bill, by wpy ofryder,
by adding the following: A
provided that no notes Of q less de.
nomination than one dollar" r'" "A
Mr., MILLER pupved 10 amend tbe a.
mendment by striking out the word one
and inserting the word fuc. Lost yeas
ID, nays Is, as follows: ''.. "o
YEAs--Messrs. Armstrong, Aten, Bald
vii, Barley, Clancy, Disney, Johnson,
King, Koch, Loudon, Miller, Warner,
Waters and Wood-l4.
NAYs-Messrs. Anderson, BsrrOre,
Cox, Grouse, Eckley, Gregory, Croft,
Hastings, Kelley Of Cnyahoga, Kelley of
Franklin, Osbern, O'FsrraI, O'NsaI, Pow.
ell, Quinby, Van Vorhes, Wetmore and
SpeakeF-16. s'e. aa' e sfra
50 The amendment 10 The amendment
was lost. + W { Es"'!eA -nlae
The amendment OF Mr.. Kelley Of
Franklin was then agreed to. a' .
The question then being on the PISS,
age Of fhe bill. .h -
Mr.. BALDWIN moved cali Of the
house which being ordered, Messrs Per.
sins, Gabriel Jones and Codding were,
Found absent. (Messrs, Codding and PER-
sins being in The ciiy.) 'ae
Mr.. EcKLEx moved 10 dispense with
urther proceedings under the coll.
Mr.. BALDWIN opposed the notion
lie thought il but right that a question of
lch importance should be decided with I
$ foil house as spossible.- '.#
Mr.. KELLEY Of Franklin was in favor
dispensing with further proceedings un. !
or the call. ''" "
The question being taken thereon, was b
lrrIed-yeas l6, Roys Is, as fol- i!
lws; i, ....' 'N" +" \
YBAs-Measrs. Anderson, Ba+rore, q
OK, Grouse, Eckley, Gregory, GrofF, y
ast'ngs, Kelley Of Franklin, Osborn, Il
'Ferral, Powell, QMnby, Van Vorhes. G.
'etnlore,and Speaker 10. al
NAYs-Messrs, Armstrong, Aten, Bald al
~, Barley. CLANCY, Disney, Johnson Il
elley OF Cuyahoga, King, Koch, Lou. e.
u. Miller, Warner, Waters and Wood or
Is. ga,..s.- aaa - -
So the Senate dispensed with further "
1ceediRgs under the call. as
MI. DISNEY moved to lay the bill on M
table, Lost yeas Is. nays l6, dc
Mr. EcKLEY demanded the previous ~
aslion, which was sustained, yeas 10, It"
e ID, as follows:
Those who voted for il wero bill
dessrs. Anderson, Berrete, Cox. RI
'use. ,Eclley Gregory. Croft. Hast ~,