The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-05-02

gate the banks to be brought into existence
by the passage of this bill.
But the people will investigate these cor
porations; they will put them out of exs-
tence. Why, sir, this bill, if enacted into
law, authorizes the issuing of over six dol
lars in paper for one dollar in specie. The
history of the whole paper system shows an
utter failure Of accomplishing the objects
for which its advocates contend. Mr.. w.
said, he held that the question of paper mo-
ney was settled in this country, when the
Constitution of the United States was adopt
ed He said he would call the attention Of
the Senate TO the first article of the eighth
section of that instrument, which reads as
follows: "The Congress shall haze power
to coin money, regulate the value thereof and
of foreign coin" Again in section ten:-
4" No State shall enter into any treaty, alliance
or confederation, grant letters of mdrque and
reprisal, coin money, emit bills of credit,
make any thing but gold and siIuer coin a
tender in payment Of debts" What language
could have been more explicit. Here was
a yielding up, by the States, of the right 10
emit bills of credit, and a prohibition, even
on the part of the general government, 10
make any thing but gold and silver coin
tender in the payment of debts. Is it not
evidence of the depravity of man, TO see
men, sworn 10 support that constitution, ad-
vocating the emission of bills of credit, with
powers conferred by law like the one pre-
posed by the passage of the bill under con.
sideraion.
Mr. w. said, he held in his hand a note
of the Clinton Bank of Columbus, which
he would read. 1t says: THE Clinton
Bank of Columbus will pay ten dollars on
demand to E. Jeffords, or bearer,n &c.
What is this but bill of credt--a plain and
palpable violation Of the constitution? And
yet this bill creates some eighty or one hun
dred similar institutions, that each may issue
their bills of credit, 10 show how easy it is
to violate that sacred instrument, and how
pliable are mems consciences, when money
is TO be made by the transaction.
Mr.. W. said, were he to vote for the bill pen
ding before the Senate, it would be treache-
ry 10 that worthy, unterrifed, ant-bank cor
stituency he lad the honor 10 represent. A
duty he owed TO his conscience, his country,
and his God, would induce him to vote
against the bill. He said he felt thankful
that he was able to be in his place, not only
to vote against the bill, but to protest against
its passage. And if the bill becomes a law,
the people will rise in their sovereignty and
wipe it from the statute book. The Senator
from Hamilton (Mr. Disney says Repeal
will he fhe watchword IN coutbar, Ob;o A.
the norlh--amoug the hardy and the honest
yeomanry of the northwest, who ask no spe-
cial laws for their protection, who want no
banks but those which kind Providence
gave them-that cry of Repeal will be the
rallying shout at the polls. Honest them
selves, they ask but honesty in others, and
never will they tamely submit TO see une-
qual, unjust and oppressive laws created to
cheat them out Of their hard earned SUBJ
stance, without making an effort at least TO
ward off the blow.
Senators who support this }bill, profess to
ridicule this doctrine of repeal. Without
having any claim to the gift, of prophecy,
think can safely assert that before three
months their tune will change, and that they
will never go into another political campaign
without promise TO repeal at least some of
the obnoxious features of this bill. Like the
boy caught in ragnish act, they will pro-
mise amendaneat-and, if so, they at once
acknowledge the right of repeal in its broad
est sense. If law can be modified, it can
be repealed; and he who promises to amend
this law, at once acknowledges in full force
the right of the Legislature, if it so pleases,
Internationally to repeal ito wi pc it at
once and forever from the statute book.
In behalf of those epresent-knowing
as | do, their wishes, their hopes and their
feelings, | would do violence to their feel
ings and to my own, did not, here in nv
place, as Senator on this floor, enter nv
solemn protest against the passage of this
bill. If it does pass-if the Constitution is |
to be violated-if chosen, favored few, are
10 be permitted to ride over the interest and
to plunder the many-then, with the Sena-
tor from Hamilton, and with the whole de-
mocracy of the State, will the cry Of Re-
peal! REpEAL!! REPEAL!!! be raised, and
with that war cry sounding in the ears of
federalism, will we do battle in defence of
the Constitution, and in defence of the fair
fame and good name of the State, and in
defence of the rights of plundered people.
II