The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-02-26
WHOLE NO. 26l.
POSITION OF THE DEMOCRACY.

sweat or tnelr race, nave money Tor thelf
hard labor, or shall they have the futile and
oft broken promises of heartless and soul
less corporation? Shall they have money,
or credit for currency? Shall they have
the substance, or the shadow? Shall we
take from the rights Of the great mass of the
people to confer special privileges upon a
few?
These are some of the questions which
are now presented to the people for their de-
termination. They are notnew. Great and
good men-lovers of liberty and equality,
have often presented them to the considers
tion of the people. .....'.
The trainers of the Constitution of the
United States had experienced all the evils
of paper money. They had seen the wealth
er beaten soldier of the Revolution, who had
patrioticaly, without shoe on his foot, or 4
coat on his back, waded through the SHOWS
of winter, to attack the blood thirsty tyrants
of England, begging his bread, with hum
dreds of dollars of worthless continental
money in his pocket, which he had received
at par, as an equivalent for the tolls and
dangers he had incurred in our struggle for
freedom. They had seen the monied cor
porations of England, as we have seen those
of our day, breaking like bubbles, and leaving
the poor laborer with thousands Of their de-
lusive promises 10 pay, in his possession
They had seen, as we have seen in our own
day and generation, tyranny and oppression
in all its various forms, stalk abroad in the
face of day, without "reproach or check"
under the sanction of exclusive privileges,
granted by a corrupt legislature. Therefore,
they provided in the constitution Of the
United States, that "no State shall emit
bills of credit" or "mdke any thing bat
gold and silper coin tender in payment Of
debts"
But no sooner was that great instrument
framed, than the advocates of strong gov
eminent, set TO work TO elude its wholesome
provisions. The proposer Of the first Bank
Bill, after its adoption, was a Federdt'st, who
had pronounced the constitution of England,
the "perfection of wisdom" and who wished
to engraft its provision upon our own.
In opposition to Alexander Hamilton, arose
that great champion of equal rights, Thomas
Jefferson. He warned the people Of the
effects of the Banking system. He told
them it was a system devised "te enrich
swindlers at the expense of the honest and
industrious part of the nation" He told
them what is true, that, capital may be pro-
duced by industry and accumulpted by econ.
omy, but jugglers only will propose to create
it by legerdemain tricks with paper"
But Notwithstanding his remonstrances, an
immense monied cooperation was erected.
Its existence was continued, with slight in
terruptions, until the year 1882. At this
period, its frauds and corruptiens had become
so enormous as to call for redress. The ma
ton would tolerate it no longer, and Andrew
Jackson, placing his giant hand upon it,
crushed it to the earth, and the people tam
pied it under foot.
The history of the State Bank shows, that
they were no improvement upon the Ma
tonal Bank. Like the U. S. Bank, they
have flourished for a time, and like it, have
broken and spread ruin and bankruptcy
around them. AT the loves, calculation, the
people of this State have lost by the banks,
an amount equal TO the State debt. They
have lost by the depreciation caused by the
suspension of specie payments. They have
lost by the depreciation caused by the frauds
of banks, whereby their notes became un-
current. They have lost still more by the
wholesale, high-handed swindling of such
institutions as the banks of West Union, CALI
polls, Hamilton, Canton, Wooster and Urbana.
And upon whom has this loss been the hsa-
West? Upon the ax-paying portion Of COM
munity. What wonder then that we have
found it difficult to pay the interest on the
State debt. We incorporate institutions by
which the people are swindled out of their
hard earnings, and then complain to them
that the interest on the State debt is unpaid.
Talk of the horrors of reputation, and the
disgrace which it will bring upon our fair
fame! Aye, even Bankers will talk of the
dshonor of reputation! But who set the
example of repudiation? Who enacted the
Bankrupt law and gave premium to repu-
dating vlliany, by giving it unlimited power
to wipe out its debts, by an oath? Who
was it that first refused to pay their notesa
Was 1t the Banks or the people of Ohiof
Thank God, we can say that the people new
er refused TO pay their debts, even when they
received no equivalent But how was {
with the Bankers? They strewed the COM
munity with fraudulent promises to pay on
demand, and then shut their doors against
the holders Of their notes, and refused to
pay, not only the interest, but the principal.
Thus has poverty been plundered by fraud,
and honesty paid tribute to corruption.
In view of these things, the Democracy
of Ohio have declared uncompromising hos
tiity to the whole system of paper money,
and have affixed to their banner for motto,
the dying words of the sage of the Hermit