The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-11-04
From the Cleveland Times.
From the CIeVeIand Times.
THE BANKS AND THEIR INFLUENC CE

No attentive observer of the progress Of
events for the last twenty-five or thirty years,
or who has read the history of the banking
operations in this country, during that period,
can look upon such institutions with the least
appreciation, or consider them in any other
light than as engines of fraud and corruption,
unless he is in some way directly or indirect
ly interested in them. We speak Of banks
as they have been and are generally organiz-
ed-banks of discount, having q chartered
right 10 issue notes 10 three times tho amount
of their means TO pay. It is certainly one Of
he most ridiculous things in the world. that
any Legislative body protesting to be governed
by Democratic principles, should have ever
granted charter for bank with such priv-
eges. 1t can be accounted for ON no Other
principle than that applica ions for such
chaiers are always presented under the f'lse
and hypocrilical precnsions that the public
good requires their existence; when in fact,
they are designed expressly for the benefit
of a few speculaIoIs and shaves. Aud 80 far
as our observation extends, there is not a
bank in existence which, in its operations,
does not carry out that design, and instead
of benetiiing the public, prove sooner or later
TO be curse TO the mass Of the people,
Their influence, both in regard 10 The bus;-
ness and the politics of the county, is Of the
most deleterious character, rendering every
thing over which they have any control, un-
stable and uncertain: and like the Upas tree /,
poison every thing that comes within the
reach of its power. They corrupt The mo-
rails of the people by holding out induce
menis for the accumulation of wealth without
labor, and by placing it in the power af.tbeir
particular favorities, 10 flch from th6la 9.of
industry the fruits of their toll. ~
Their dispensation of favors is but another
name for bribery, by which they control The
political affairs Of the State. Look at the re-
suit of the late election in this State. Not
Senator or Representative has been elected
on the Reserve this fall, who is not pledged
10 exert his influence in favor of banks
Their nominations were dictated by the bank
ers, and we venture 10 say that no Wing
could have been nominated who was known
even to be in favor of making bankers liable
in their individual capacity, for the payment
of their notes. Such things speak Ian
guage not TO be misunderstood.
The time has been when men of pure De-
mocratic principles favored the establishment
of banks, and there are some, even at the
present day, who profess to be Democrats,
and yet shut their eyes against the light of
experience, wink at the corruptions and des-
tuctive tendency of banks, and succumb 10
the views and selfish designs of the Wings in
regard 10 these sonlless corporations. But
no enlightened, honest Democrat, who has
witnessed the swinding operations of banks
for a few years past, can favor their establish
ment, or countenance their doings.
For ourselves, we unhesitatingly declare
our eternal and uncompromising hostility TO
all banks of discount under any form. We
sincerely deprccate the creation of any more
new cues, and should rejoice to see the day
when no such institution should be found in
this or any other country. We should then
have such currency as the framers of the
constitution established consisting of gold
and silver; which would be subject 10 neither
expansion, contraction or depreciation. This
would give stability and safety 10 all the pur-
suits of life, and compel thousands, nay hum
dreds of thousands, who now live upon the
hard earnings of others, TO seek livelihood
by honest industry. We hold this TO be the
only true and genuine system Of Democratic
principles, which secures 10 all equal rights
and equal privileges. And he who prctends
to be a Democrat in principle, be his party
name what it may, and advocates any other
doctrine, is in practice, inconsistent with his
professions, and should be looked upon with
distrust, as giving countenauce 10 the most
paIpable system of fraud and corruption, with
which mankind have ever been cursed, the
pestifsrous and poisonous influence of which
is felt throughout the country. We shall sly
more on this subject is our next, and explain
why we are opposed 10 the conservative or
" sofi" course, which some people seem dis
posed to pursue.