Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1845-01-24
Ohio Legislature.
SENATE.
JAN. 9TH, 1916.

:, 10 incorporate the State Bank OF ONO, anC
= other banking companies, together witt
the following report which he read,
:, The committee on the Currency to whom
was referred those parts Of the Message o.
the late acting Governor, and the lnaugur'
al address of the present Governor which
relates to Banks, and also various petitions
from citizens Of the State, praying for the
establishment of safe and practical sys-
tenn Of banking, having given 10 the sub
iect all the consideration which the time
and their other legislative duties would
permit, now respectfully sNbmitthe follow
ing Reports
The committee entertain no doubt that a
very large majority OF the people of the
State, anXiously desire the enactment, by
the present General Assembly, of some law
authorising the establishment Of banks,
which will furnish them with a safe and
convenient currency, afford reasonable ia
ciIities for obtaining money TO meet the
wants Of commercial and manufacturing g
operations, and at the same time hold out
proper inducements to those who have
money 10 lend to invest in banking institu-
tons.
In compliance with the acknowledged de-
sire Of the people, the committee have pre-
pared bin to authorse banking which
they herewith report
In preparing this bill, the committee have
kept constantly in view The great land
marks, of entire security to the blti-holder,
reasonable security TO dealers with the
hanks, and proper inducements 10 the
capitalists, whether great or small, to in
vest his dlsposable means in banking. The
committee nave also pndcay0red 50 to frame
the bill as to give the greatest liberty 10
| the banker in relation tO their choice Of his
associatos, snd az to the mode Of securing
the bin holder, which they believe to be
compatible with the paramount objects to
which lhey have adveupd.
Two modes of banking have within
few yraps Hacn presented to the people Of
Ohio, and each aDncsIs 10 have il, devoted
friends THE one, a system Of associate
banks. parh. 10 scn,n extent. exercising a
reslrainina mower Overt ibp others, oryathar
,he whole o.aociarioo c,crcieino his now
er 50 laras is necessary 10 prevent hazard
to lhe nobIic or 70 ihe assorialon. over
each of ihc bank 50 aseoriaicd; and hpina
bound tDrihc oerlult of any one 30 larqsto
prevent anv lose IN ure LiIl-bodcr--Thr
other. a man Of banking similar 10 that
provided for in the New York general
bankinr law. allowing any association
which NAV be formed for that purpose to
obtain notes for ci culation hv dcpo4iting
with the treasurer OF State ihe certificates
Of the funded debt of the State, as coIIater-
al security iol the redemption Of those
notes.
The conAlc ing opinions in regard to the
relative merits OF these two systems, seem
% have arisen end acquired strength IN
different sections OF the State, as huch
from the difference IN the financial cohdI-
,on Of the inhabitants Of those sections, rs
from the opposite views Whlch dIilerenG
men WI take OF the same SUBJECT When
P'Tao.'''" W t''e ''I.,Iua ., e'a.'i' y,
,'1s o.c ca W. bn Lorsor ,bo 'ru rosdent ID
"o S,, '. ,horn ~ s " H., ,,'o,,nt y" @ f con,
,,,.,, "Es ', ,,,d ,t,o Aol6a Co.
., e'C'" t,"I;',',o " n 49," ,on..., ~" ;12 ~
sme ,o"tT",' "o. nh;nI w. % ,I;oylod ,i,;H
;5L,oa &rai." - - ,,;,atis,s "a ;n,,ost tro;r
] ,a,'u'e T,s,SG e"P'I," Jo0 ~ 'o' %oo,r ,,",.n t".
., ''e"'.9 -, o@''M'"s, ',"L "Lnn ~ ~ o,or P ooo
,o"'' - ''t"'. ""' of ioo.I oa;,,I T.
sufficient ,o G,rn;an ihe community with
nccnssarv bankina G,ciIitics, snCh system
is dosirod nc viii Kermit resident cnniialsts
to engnna in LsrEing without compeIpp
tbonn 10 ynata inr6n investments in nubIic
socmri,;as % ~ no nIedcnd lor tl,a redemntion
Of I,o circnl,iio ~ 3ho Rank
~ VIZ Wv ''','''' - ~, -. ,,,
10 r'coucl'e 'nose Eot,n.o',ns op;u,o"oi
ana TO extend 10 the ulIeiellt 9ecUo,l9 u
'he o'3Ie inat rel'4 "nc'l Tue peoPl7 80
geherai,y denlano az uie HanuS I' ol 'ne
@eie'3' Assembly,, 'he co,lI',l'''e n"sr 80
lr3nea 'he oI aS 10 give 10 ''i5 oo'''',9ta'
Whthr' V'',"'.9 Vi ,7'"V'.'T , y, Wv
state theIr chotce as TO tIle lliooeol '"'eS'-
ing thelr means IN banking
In authorsing the business OF banking
upon the plan OF securing the notes OF cIr-
cuation by the hypOlhecallon OF certlli-