The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-05-16

PupLIc OPINION ABaoAp.-The odious and rot
ten bank scheme of the last Legislature appears
to be REGARDED with as much abhorenco and dis
trust by the people in other States as il is BY the
intelligent among our own citizens. We copy
an extract or two:
Look OUT FOR RoTrENSEss AHo RAGs,-Trus
to herself, and TO paper money and rotten Banking
which have ever been the idols Of her idolatry-
whiggery in Ohio has consumaed one of the most
stupendous schemes for Il future explosion, his
tory has vet recorded. With an idiot blindness
to all tho history Of experience, they have turned
ths whole government machinery OF the State
into an immense Banking establishment. UNI
yersal experience has proven that every such
connection of governments with Banks, produces
corruption and final explosion and ruin. And this
scheme, more glaringly absurd and nnsound WILL
if il poes into operation and is not repealed by the
Democrats who have and will wage an uncensing
war upon il, be more disastrous in its ruin than
any which has yet spread beggary among our po'
puation, We say now to our public in time,
touch not an Ohio Bank note. Their wing system
will inevitably explode, and the money sooner or
later will be worth less than Brandon or Owl
Cresk.
We will give an outline Of the provisions of
this scheme; go that our readers may see to what
extremes whigery can 20 when left unrestraincd
TO pursue its own vagarics and projects OF pIunder.
The new machine is to be called :" the State
Bank of Ohion The State is to We divided into
l2 Banking Districts; and six millions Of new ca
pisal apportioned ont am ng tlcsc dis;ilcts, be
sides some dozen or So of lottcn concerns already
chartered, which if not too fat, are allowed TO 60
on as separate independent concerns or as
"branchesn of this State machine, as they choose.
The State officers the Goyerner, Secretary OF
State, Auditor, &C., are the general superiniend-
en,a Of the whole swirdling bubble Among the
restrictions arc the following:
Thirty per cent. O Of the capital stock Of the
concern is to be paid in Specie!
They are not authorised to issue blls to more
than double tho amountto of the capital stock!
They are TO have at ell times 80 cents in specie
for every popeT dollar in circulation.
The stockholders of each bank are not to owe
it more than cne third it's capital, nor tho direc-
tors moro than one fourth
And tho Banks are to he examined by a com
missioner appointed by the general board, and
paid by the bank he examines!
From these outlines every one can sec he un-
blushing humbuggery of the scaeme-the tayoIi-
tsm and corruption TO which II will lead and the
explosion and bankruptcy in which the whole is
compelled to end. 1t is a whig echeme through
out Let thsm father it and defend it. Every
Democrat in the Ohio Legislature voted against
ii; and every whig for it, Such are the schemes
TO which whig principles lead, and such they at
tempt when they unfortunately the asccndnrcy
as they have in Ohio picEs5.rg Sentinel.
NJ In another column will be found the de
tails of the gigantic echenc Of banking cont'vct
TO plunder the people of Chic, which has Lately
passed the Legislature. This is one Of the fruit
Of the whig ascendancy in that State-cyer.
whig member voted for it, every damocrat agains
it. We doubt not the democracy of Ohio will
Immediately proclaim their purpose to repeal tn
Infamous law, or charter, az soon as they Obtain
the ascendancy in the State government; ant
every true friend of Equal Rights, honesty, an'
republicanism, will bid them God speed in th
good work. If any democrat has been doludet
into the belief that the wings are ready to oban
don their shin-plaster schemes, beth State an
National, let him look ct tho results Of their rul
in Ohio Mr.. Van Buren, was right when he said
in his Indiana letter, that the pa2er money manu-
faeturers-.hs vampires who pc upon homes
industry-wl contend for the ascerdancy, tc
grants of special privileges, for many wears t
come. 1.-THE viper is scotchcd, but not killed,
--.Mi@i'sippi Democrat,