The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-01-22
KALIDA VENTURE.
JAMES MACKENZIE, EDITOR.
JANUARY %, 1886.
For Governor,
ID A V I'D Il OD.
THE REIGN OF AVARICE.

How grew upon his heart a thirst for gold.
The beggar's vice, which can but oyerwhsim
The meanest hearts.-Byron.
When men, whose whole object and highest
aims are but the qualification Of low selfish
ness, win power and place, public morals and
the sense Of honor become weak and alnos,
powerless. We have this winter in our Le-
gislative halls, seen a people condemned for
ignorance and incapacity by TIER dishonest
servants.-we have seen law, which should
be above all, go basely begging for accep-
tance, not to the people who are the source
Of power, but to a sordid race of ShyloclkD
who now sit in high places and take the res
pect, which ought to be the need Of worth,
integrity, and capacity,-we have seen an
insolent and incapable majority trample upon
and insult the minority. We have seen
disposition TO make wealth the test Of merit.
But we confess that we were not prepared
to see party urged on by skilful and un-
scrupulous leader, break all bounds at
his command, and boldly lend themselves,
in defiance of all precedent, 10 crafty
hissavarice and lust of power. In the Senate
on the 10th inst, Alfred Kelley's Billrelat-
ing to the banking powers of the Ohio Life
and Trust Company came up; we give tho
first section of the Bill that our readers may
know that we do not exaggerate its infamy:.
Be it enacted by the general Assembly of
The State of Ohio, That if the Ohio Life
Insurance and Trust Company shall elect to
carry OH the business of banking as branch
Of the State bank of Ohio, said company
may set apart out Of any moneys and Bills
receivable belonging thereto, any sum not
less than three hundred thousand dollars, nor
more than five hundred thousand dollars, as
banking capital, for the purpose Of carrying
on the business of banking in the city of Gin
cinnati; and if said company shall at first
set apart less capital for the purpose afore-
said than five hundred thousand dollars, they
may at any time, within one year from the
date of this act, set apart for the same pur-
pose such additional sum as they shall think
proper, but not so as TO extend the the whole
banking capital of said company beyond FIVE
hundred thousand dollars.
Here is given by, vote of the Senate Of
Ohio, to an already dangerously gigantic
corporation, the power to Bank on Bills
Receivable, or in other words to make their
worthless or good debts the substitute for a
basis Of gold and silver. Here is duly shown
the progress Of Banking. Alfred Kelley
himselfa stockholder ofthe Trust Company,
personally and pocuniarly interested in that
institution, SO far prostituted his place OF
Representative as Ito sit and by his single
vote save the Bill from defeat! Can the
force of corruption 60 further? 1t is true
that when the vote to reconsider was taken it
was ref erred to select committee, and that
potion authorizing the banking on BILLS
RECEIVABLE, aras struck out So garing
was its iniquity that the all powerful ma
ority after having shown their Infamous de-
signs and principles, were forced to retracs
their steps But not before they had given
the sanction Of their votes to the provision
making debts substitute for specie; and afts
our able and indefatigable Senator, Mr..
Edgerton, had shown that it was stretch Of
banking power never exceeded-till from
his exposition of its outrageous character
its authors began to fear that so boundless an
would rouse the indignation Of a
betrayed people. How looks Alfred Kelley