The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-05-07
Reputation.

design to repudiate upon the Democracy OF the
State, because they have Indignantly condemned
the bunging, dishonest and unequal legislation
Of the New Tax Law, which while pretending
to 'levy taxes all property in this State accord
ing to its true value," exempts the six or eight
millions Of State Stocks forming the capital of the
State bank and branches from taxation, but des-
cends diligently to enquire the number of the
farmers sows and pigs and taxes to the uttermost
fraction of value every growing litter. That the
accusation of design to repudiate has no appli-
cation to Democracy, the limsy basis Of the
charge would inform every reader of common
dscernment, but it is moi our int ention to repel
these bodiless charges, we will content ourselves
with adverting to the political morality of the
party with which they originated.
The devil expressing pious horror of sin in
his followers would be an apt parallel to the hy-
pocrsy of the Wing Press condemning an i'm
agned design on the part of Democrats to rcpu-
diate, or cast off the obligations of good iaith.
Reputation by State, in its worst form, is the
refusal to fulfil Just obligation, and is the moral
principle of the transaction varied whether the
refusal comes from Legislative body, soulless
corporation, or n single individual? In our
memory, The wings, with Henry Clay at their
head, advocated and set on foot the most BTU
penduous and demoralsing system of practical
reputation which ever had an existence. The
General Bankrupt Law was creation of whig
inrigue-a law so odious, so destructive of all
moral faith, and Of all honesty, that had it re-
mained twenty years on the statute books, credit
would have been utterly rooted out from among
us, lshmaelitism would have been substituted in
the place of trust and confidence, and we would
have become bye word among mankind as peo-
pie among whom fraternal punder was legaized
and integrity had no place. Yet the law which
wiped out as with sponge, between two and
three hundred millions of dollars of honest OBJ
legations in the short space OF ei ghteen months
was warmly defended by the Wing Press, and
was most reluctantly yielded when the outraged
moral sense Of the country would no longer
endure its continuance.
Strong evidence of the active spirit of repudi-
alton was presented in the suspension of specie
payments by the banks in this state and theUnion,
in defiance of law daily robbng the holders of that
deprecated currency, which, having expelled or
locked up from the public possession all sound
money, increased the robbery every time that a
transfer became necessary. But it is not alone
by suspension and casual depreciation that the
worst features of the system have been made
manifest 1t is by the deception Of the people
into false confidence in the notes of institutions
1 loJ IL
guide for premedtated fraud on the people,
till the losses by this whig engine of corruption,
since the foundation of the Republic have a.
mounted to from three to five hundred millions OF
dollars. So far as tested the system has invariably
resulted in fraud, yet the Wing Press upholds it,
tho bad faith seems to be an essential element
of its constitution, and this is done with full
knowledge OF its corruptions and full approval
of them, as we have right to conclude from
their never attempting improvement, and refusing
all change.
But reputation proper, or the reputation by
States, has always been caused by banks either
directly or indirectly. Either as in Mississippi
and Michigan, by the direct frauds of the Banks
or, as in other States, by undue dependence up
on bank assistance to sustain them in difficulty.
Instead of favoring this state of things the
Democracy are taking higher ground than these
political charlatans have any desire to initiate
They are assailng the foundation of all repudia-
tion-involuntary credits, not founded on charac-
ter, integrity or worth. They war upon all credit
forced and hostile to the protection of all classes,
which violate the rights of the many for the
benefit of the few. When individual virtue be-
comes the only measure of credit, strength of
public opinion will be called into existence which
will frown down any attempt to break faith
either on the part of statesmen or individuals
But this feeling must spring from healthful
sense of right fostered among the people by high
toned political legislation securing justice to all,
instead of special favors to single class.
A reputation which is evil only when its con-
sequences fall upon the wealthy,-regard for
pledged faith which is only awakened for the
losses of the broker and stockjobber, may be
preached by every aristocratic knave in the Union
but will fail to make any serious lasting i'm
preston on the public mind. If whig presses and
politicians have any sincere hatred to the bad
faith which generates reputation let them thrust
from power men like Auditor Woods, who are con-
tamnated with the taint of fraud and the rotten
pessof bank failures let them with honest and man
ly eurnestncss condemn the gamblers in legislation
who, like Alfred Kelley, abuse their trust as re-.
presenatives of the people; to vote power into the
possession of the corrupt corporations with which
they are connected by the strong links of interest.
Let them evidence as strong sympathy for po-
?ular protection they do for the welfare of the
few. Let the same justice be measured to bank
swindler as to a repidiating state. But with
them the reverse of ali this is the case: party