The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-02-05

For myself, l must protest against the
passage of this bill, and trust, all others of
the minority will unite with me. | must ad-
nit, there are men connected with banking
institutions, for whom entertain much res
pect; but cannot regard their position as
an honorable one, and | exceedingly regret
that they occupy it. No banking system
was ever yet devised, that did not open the
door to fraud. When dishonest men engage
in it-their union-and the law which has
thrown its protecting shield around them,
enlarges their power 10 do evil, and protects
them in their inquity.
The question then was, "Shall the main
question be now putt"
Mr.. Jones demanded the yeas and nays,
which were ordered, and resulted yeas 10,
nays ID, as follows:
YEAS-Messrs. Anderson, Bean. Cod
ding. Coornbs. Cox, Goddard, Grof, Kelley,
Madeira, Martin of Fayette, O'Ferrall, o.
Neal, Osborn, Perkins. Powell, Quinby,
Welcb, Ws,more, and Speaker-l9.
NAYS-Messrs. Edgerton, Ewing, Harte,
Jones, King, Koch, Mackall Martin of Co
lumbana; Newman, Reid, Thornhill, Otter,
Warner, and Wooa-l4.
So the question on the amendment was
then put, and resul ed--yeas 10, nays 10
Mr.. Croft voted against the amendment.
The question was then upon the next "a
mendment of the House, striking out the 4th
sec, and inserting provision, that the La
fayette Bank, shall become branch of the
State Bank, under certain provisions.
Mr. Utter, suggested that as the amend
ment included one whole section, it should
be printed.
Mr.. Ewing Offered an amendment provi-
ding that said banks shall not issue notes of
less denomination than foe dollars.
Mr.. Ewing supported this amendment at
considerable length. He said, he could see
no reason for the apparent distrust with the
majority, upon his efforts to amend the bill
His open and frank opposition to all banks,
and all kinds Of paper money, ought 10 en-
title him to the credit of being conscientious
in his motives. Opposed, as he certainly
was, TO banking; believing as he did, shat it
was an internal machine, for robbing the pco-
pie, and plundering the State, it was no rea-
son why he should not try and make the bill
as acceptable as possible. He apprehended
the passage of the bill in some shape, and
he was certain, that if his constituents could
vote upon his amendment, it would prevail
Mr.. Ewing spoke of the effect Of permit
ting circulation of small notes. Even the
advocates for bank paper, contended for it,,
on the grounds of " commercial purposes"
If there was any imaginable advantage in pa
per money, it cannot, nor was il claimed for
small notes. He did not wish to see all
gold and silver change drawn from the mar
ket, which would certainly follow, if we per-
mitted a circulation of small notes.
1t was upon a well known principle, he
said, that the cheaper or inferior currency,
would circulate 10 the exclusion of a better,
or gold and silver currency. This had also
been our own experience. He recollected
the years 1878, when even the three,
two, and one dollar notes, we're superseded
by tickets issued by shop keepers in your
cities; and so we might go on, and in pro-
portion as we debased the coin or the cur
rency, in the same ratio, we will drive back
from circulation the better currency.
Mr.. Ewing spoke Of the necessity of a
plentiful supply of gold and silver change.
There was large class of people, whose
business operations were on more moder-
ate scale, who did not want the operations
of bankers, and were liable 10 be imposed
upon and suffer loss.
The question was then taken upon the a.
mendment of Mr. Ewing, and resulted-yeas
ID, nays l9; the democrats voting for, and
the wings against it.
Mr. Ewing moved to amend by inserting
-" That the capital stock, and not the pro
fits, of said banks, should be taxed the
same as money invested in trade or other
business, according to The laws of this State.
MIR. Newman said, he arose to inquire OF
the gentleman from Deleware, what the
operation" was, that, he said, was on foot
to secure the taxation Of bank capital as cap
ital in trade and personal property are now
taxed, or proposed TO be taxed, by the bill
now pending before this body?
| TMr. Powell remarked, that circular had
issued TO all the banks created by the law Of
last winter, asking their consent to be taxed
as other property is taxed, and that it was
expected that most of them would consent
1t has arrived at that point then, said Mr..
Newman, that we must first obsequiously
ask the consent of these chartered institu-
tons, before the representatives of the peo-
pie dare impose a tax on their capital ON an
equality with the citizens of the State gen.
orally. He said he was in favor of the a
doption of the amendment, and that he
should vote for it; that he rejoced that an
opportunity was presented TO test the sincerl-
ty of the professions of gentlemen on the
other side Of this House, who refused to be
the especial guardians of these chartered in
sltutions. They claim that they are in fa-