The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-07-27
Tlne Ein6lny Bank.


The FimdAay Bank.
The Findlay Courier in giving the names of the
stockholders of the Bank, sought to be establish
ed there, and the sum subscribed by each, does
a crsditable service to truth and principle in re-
ferring to the tax list to see what the eubscrf.
bem are worth. Ofthe result of the invesGga-
tion the following is a specimen:
"The public have no better way Of finding
the amount of their property, than 10 take
their own statements, under oath, as made 10
the Assessors last spring; and in order TO
show this matter, we have taken some pains
TO examine the books and ascertain how
much some Of these gentlemen thereafter to
be called 5ankers) are worth We will be.
gin with VIM. M. Patterson, the banker who
wentup to Wiliamstown and raised such a
blow about his thousand dollars bank stock;
we find his total property, moneys, credits,
and all, as given under oath, to amount TO
the vast sum of one hundred and .ftty-sepen
dollars! David Patton, bank stock $1,000,
property ON duplicate 1855; A. G. Stone,
bank stock $4,000, property on duplicate
$4,000; U. A. Ogden, bank stock, $1,000,
property on duplicate $l,l07; WI. Wells,
bank stock $1,000, property on duplicate
$1lS. In relation TO those who reside out
Of the county, we canno, say how much prop
erty they own. Some of the balance have
more property than their stock amounts 10;
other have not, and a fe~ have just half as
much"
Hero is proof of the absurdity of the assertion
that banks are created TO give employment to ac-
tual capital These men have no capital to en-.
ploy. and if they had, sould lend it without leg
islativs grant Of banking privileges. But it is as
means Of borrowing that ii is wanted. Men, who
could not command credit either by their capacity,
integrity, or wealth hero find an easy means of
borrowing on the credit Of corporate charter
For instance, VIM. II. Patterson, who is worth
but $l57 in reality swells at once into the pro.
pristsr Of imaginary bank stock to the amount Of
$l000 pays an ninstalment Of ten pei cent. Tor
5000 if the bank goes into operation, and boz
rows on the credit Of his stock the balance Of the
ins;almsnts when called for, possibly from this
very Findlay bank! No wonder banks fail, and
the people are dofrauded--the very conception of
banks Of discount and circulation was designed
in fraud, and the practies of the system has
no, belied its origin. The people may hero SEQ
specimen Of the protection they would receive
from an individual liability clause appended to
bank charter. Some VIM. M. Patterson could bo
put forward as the holder Of stock for others, and
his liability, for thousands swindled out Of the
people, would not be worth brass penny.
The true principle Of banking is to limit the op-
sratens of banks to exchange and deposit. This
would avoid the pos bility Of such swindles
as this Findlay hank subscription, aad would
answer the necessities of business and com.
mercial men, and leave a stable currency of gold
and siIvor for the mass OF the people who have
no interest in these rng mills. Had the democrats
when in power, and the old banks were expiring
from their own rottenness and corruption, instead
Of fpassing humbug called La,hum and Bartley's
Bank system, passed some necessary and simple
regulations for Banks of exchange and deposlte,
and prohibited paper money circulation in Ohio,
the people would have sustained them, but they
tinkered a rotten system till the masses were dis.
g1sted, and now we have to wage war upon a
new scheme OF public plumber in oil its pristine
power and strength. But the party is right now,
and great as the oddsis against US of thirty-fve
banks, with the means OF corruption derived
from their fictitious wealth, we have sixty three
honest hard money presses to oppose them, and
do net at all despair Of the victory. For THE PEG.
PIE ARE THE JUDGES.