Iowa territorial gazette and advertiser. [volume] (Burlington, Iowa Territory [Iowa]) 1840-1846, 1845-09-20

BURLINGTON: SATURDAY, SEPT. 20, as. |
Pooefes Sentiment i'm REBATE N 10
Ranking.
There Is perhaps no subject upon which
sQGxeak a-eh.aee in public sentiment has !
been made, as Lankiug. Their direct In
dnsqce upon the pecuniary interests Of all
clsres q people--ahe sl,ecious promises
which are held ont Ly the friends 81 banks
and The reinnieneys IL their ultimate ef. !,
tecis, have all contributed 10 make il the
most diilicaA a questions to understand
and appreciate properly. Within the last
lea years, however, their creation and ul-
tispsfe results have followed in closer sue
eessSss', and the attention Of the people has
been 20 repeatedly called 10 this subject,
that more perfect Knowledge of ii has
been. acquired. This knowledge has be-
gun 10 desclss iaseli in the action Of some
srtlse State Legislatures. There is, per-
haps, . majority The people Of the United
States, who believe that banks are neces-
ssary 10 The prosperity Of tire country; but
70 ~ great an extent have those institutions
availed Themselves Of the special privileges
gralded them, and 10 suc. an extent have
those privileges been abused, that public
.stienlien has been fully aroused, and an
anxious desire created 10 throw around all
Incorporated bodies moro elective guard.
and restrictions. The idea Of comforting
upon Corporate bedy legal right 10
sswindle the public, or " hat amounts to the
same thing, afforling them all necessary
facilities for doing so, without responsible
rty. is rapidly becoming absoletc.
> Men have ceased to think those special
privileges necessary 10 The existence Of
banks and other corporations, and the time
= approaching when it will be required
/. Ct the holders Of bank stock to pay the
debts Of the institution; when each indi-
vidu,l stakeholder will be liable to the
same extent they should be if acting under
!, simple articles Of col,artnership.
When this point is reached, and the cir
culalion restricted to large notes, then, and
MT till then, can the American people in
corporate banks and manufacturing COM
pinies with safety.
al Upon this subject we give the following
- which We take from the New York Even.
Ing Post: :
= "a great and most vital change has been
!. taking place within few years in the
opinions Of The people Of this country il
/; relation to banking institutions. The
4 .nhaEe j. now beginning to manifest itsel
. meat clearly and decidedly. The first in.
/. dioatfon q the tendency Of public senti.
ment were showa in the Legislatures Of
Maine aad Pennsyivama. In those bodie.
bills were introduced which made The
stockholders Of each bank liable for ii.
ds6ts in dleir individual capacities. All
new bark charters were provided with
such clause. The Legislature of Ohio,
Awhen the democrats were in majority,
exempted the same measure aboat the same
& lire. Every baak charter, and many char
/ ters Of incorporatieAs for other purposes
= which have been introduced into the New
York Legislature have contained clause
i establishing the same liability. But the
Paris Of the country in which hostility to
The peculiar and unjust privileges Of bank.
has bsen developed the most rapidly, and
has already begun 10 exert a most decisive
! and e6eient influence, are those in which
d thess Institutions have been under most
i eossupt and proaigate management. We
Gfhaye just seen the democrats of Alabams
W riect The candidate for Governor, regular.
' Jy ppmiast 4 by democratic convention
of The party, and electing in his place ar
Independent, self-nominated man. The
ssssGplax candidate Of the convention wa.
oaepnnec4ed with the old banks of the State
and this was a sufficiest and the only rea.
con for his rejection.
This was serious warning 10 all demo.
Gratis in the state who attempt to attarh thu
party in Alabama "a hanks.
:. : In Ohio, last winter, General Banking
Law was passed. But already the senti
{ ment Of the democratic party has 20 riser
: mp against it, thai, ia feeling, the party il
I pledged 70 its absolute and uncouuliliona
repeal. The following paragraph from
Etenbenville paper e presses the purposes
s Of the party: b ris
~ Z The repeal Of the banking law Of las
.wipter, Is beard from all quarters Of TIN
sfate. Every dcn;ccra.ic, paper, but fiv'
!, q six. are in favor Of repes... Upon shi
a. rlkform the democracy Of Olfio star..s; am
on i they will either conquer or-we wer.
:. going 70 fay debut there is no sncf
/, swoFd in the democratic creed-they vii
conquer, or ii deEsAied, rally and fieh
Hgaip. Repeal is the wortj let the led.
take the iAsue nj once, +" asa
: u Mississippi the candidates for Con.
gress are NOW canvassing the State. The
oflcial paper published at Jackson max :,
! TIA following resaarks on The views Of one
q the Democratic candidates:
The position Il MIR. Davis ON the bank
. quesion VI the day is entirely satisfactory
e lhe democratic party; il is entirely sat
isiactory 70 the triends Of The Briscoe Hill.
Erv,sn sh~p vs.L sR,a,s.~ S...,;...i