The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-09-16
w. A BRowN, S,.,.,,,. n
N. II. STARBUcB. -
SOUND DocTRINE.

Notwithstanding the length of the following re-
solutions, of the Democracy of Hamilton County,
we believe readers will thank us for publish.
ing them. They are worthy of Cincinnati, and of
the Democracy of the queen city Of the West.
w. NJ CoRRY offered the following Prearn-
BILE and Resolutions: ioaH e1i
WHEREAS, the Legislature of Ohio passed
law last winter 10 creaie a multitude OF
Banks; and whereas, such measure was
not demanded by the people of the State,
but was in opsosition to the known opinions
of the Democratic party, and was without
any sanction of the great body Of the wings.
and, @ 9iH
Whereas, the law if permitted to operate,
will cause great revolution in the business,
property, labor and habits of the people, and
change many Of the most important existing
relations of society and government: and, Ir
Whereas, on such occasions, it is the duty
as well as right Of the people to assemble TO
deliberate on what is 10 be done, and to pro-
nounce their judgment in the most solemn
and authoritative manner: therefore, have
the people by their delegates composing this
convention, and on due consultation, 7
/. Resolped, That the establishment OF
Banks by law, for the issue of paper money,
has the effect Of creating exclusive paper cur
rency, and of expelling gold and silver money
from the State; for although paper money
may be made redeemable incoin on demand,
yet as il is the interest Of bankers to prevent
it from returning to them for specie, they al.
ways contrive to make it circulate at such
| diotnnco from, r,l,ca r>c ;ssna ,>,,t
out of the power Of the great mass to present
| il for redemption. 3s a''f's 9
2. Rcsolred, That the experiment Of sub
siituting paper instead Of gold and silver, for
cash, is an attempt to make very cheap ma
terial answer the purposes of dear ones
and is the same experiment often tried by
iyrants when they have undertaken to debese
the currency by clipping or a,lulteratidg tho
coin. Both are expedients for rob5ing tho
people by depreciating property, ard by con
founding the relations of debtor ana creditor,
labor and capital. The profit of tie operation
was formerly realized by the krg,-now it
is obtained by the banker. s4
g. Resolred, That the power Of coming
actual money and regulating its value, al
though sovereign power of great conse
quence, is utterly insignificant compared
with the power ofregulating the currency BY
issues Of bank paper; the power of making
paper money moi only mullifies that of coin
! ing gold and silver, but j. is power over the
prices of properly and labor, a control over
credit and business, which enables the bank
er to con6scate the wealth Of the community,
and to influence the opinions and conduct Of
every man by the almost irresistible force Of
pePuniary@interest.
4. Resoloed, That a banking system is
| therefore Of itself simple despotsm ruling
by the agency Of sordd motives, and of all
the passions and appetites Of which money is
the slave. That such a government, so
strong and SO bad, is conferred on men whose
qualification is money, whilst the labor Of the
country which produces two-thirds IFS wealth
lis entirely disfranchised and excluded from
this new form Of government to which its
| rights and interests are subjected.
5. Resolred, That the policy of metal
ic currency has been tested by the expert
ence Of alt the ages which have elapsed since
man discovered the necessity Of money. On
the contrary, all systems Of paper currency
ever yet contrived have failed, and in their
inevitable overthrow have entailed more dis
tress and loss, and perpetrated more robbery
and fraud than would colonize continent
with convicts and paupers. Nor have we
seen in the whig Legislature Of last year any
symptoms Of a wisdom superior 10 the paper
mongers who have gone before then-buta a
compound rather Of all the shallow schemes
Of their predecessors. 1e A.s ~