The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1846-09-26
Bebbery.

Bebbery. -.
+ Mr.. BEBB's fame as aflnancler is oi
an older date than his pretenslons as
politician. He was first apparent III
the light of the Hamilton Bank explo-I
sion, and for several years he has been
identified with shin.plaster expert
ment, which is legitimate successor
to the Hamilton and Rossville Hidraul-
ic Company, which was incorporated
to dam and divert the water Of the Mi
ami River, for the use ofmachinery. A
Democratic Legislature had passed the
charter, but had taken care to insert
clause making the stockholders indl-
vidually liable for the debts of the con-
cern. The company was organized
accordingly, WILLIAM BEBB was made
its President, and, in due course Of time,
cloud of shin-pIasters descended up
on Hamilton and its vicinity. They
were paid to the laborers as money, and
were received as such on the faith Of
the individual liability clause, which,
in fact, mortgaged the estates Of Messrs.
BEBB, WooD & Co., for their full and
honorable redemption. These persons
were well known 10 be men Of large
fortunes, and the people trusted, as
they have so often done, to the securI-
ty of these bills of credit, and, as it
proved, with The usual result.
Here, also, was contract between
WIN. BEBB and his colleagues in this
Hydraulic company that the paper
which had been taken as the price OF
labor should be paid as long as their in
dividual credit and effects should con-
tinue. The people looked to the char
te., and the provision inserted for their
protection was clear and explicit, and
seemed to cling to every contract OF
the company as an inflexible condition
part OF its obligation. Hence, the
currency ofthese shin-plasters. Hence
the success with which corporate credit
was exchanged for the labor Of the poor.
The object Of the Company was Sc,
cured. The Miami was dammed-a
fall of twenty-five feet obtained mill
sites made practicable on every vacant
lot in the village Of Hamilton; the wealth
of the spectators increased; but "all
this availed them not" while they might
be called upon to redeem the shin.
plasters which were in circulation. :
Land hu! for the Hamilton Shy
locks! The election of 1914 went in
favor OF the Wings; BARrLEY was made
Governor, and at the very next session
of the General Assembly; the winter
of 1844-5-a bill was introduced and
passed, repea ling The individual HadiH.
ty clause in The Hamilton and Rossuille
Hydraulic Company.
1t was noble struggle, that of the
Democratic party, in behalf Of Human
ity and the Constitution, but all in rain
Bebb, Wood &c. must be protected
against the people of Butler county
Mr.. Anderson moved that the furth
er consideration OF the bill be postpon
ed until the first Monday in December
| Lost! a party vote!
| MIR. Miller moved that The bill bt
recommitted to the committee on the
Judiciary, which was lost.
Mr.. Finn moved to amend the bill
i, by adding the following provision, by
way Of ryder: "Provlded, further, tha
said company shall not be entitled tt
the benefit of this act until they shal
have paid all their existing debts.''
The amendment was lost by the neg
ative vote OF the Wings. Among thu
votes for a proposition so just we per
ceive Brown, Ewing. Finn md Reeme
lin, standing boldly up with their Dem
ocratic brethren.
Who will vote for man who pro
cures from Wing legislature specia
: Banr upt la,o in his own favor ant
visits upon the laboring man the who'll
: depreciation of his wretched shinplas
ters? Who will sustain a party VIII,
will thus falsify their own clamor abou
: the obligation of contracts, to pcrpetu
ale such an unequal and unjust meas
ure! Let the people answer on tn,
Thirteenth Cincinnati Enquirer.
RI Low PRlcEs TO THE CoNsUMER.-Th
, proteciionists have been telling the peo
f pie, for more than twenty long years
that protection would raise up hom
competition, which would reduce tn
$ price of the protected goods far beloy
!. what they would be without protection