The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-01-21

o Tax cossnss,osAr Rso,.rss will be furnished
| same terms s,t IN n iil.iasaf 3.
from the special privileges conferred upon them by the
the LIST April 1885 upon dividends exceeding per
per snnnfn, De Increased While the ndncement to ex
cesve banking will be reasonably checked by the increase
o. ms tax the nances Of the State be- TO some extent
The policy Indicated will lead 10 the rigid execution OF
the enonato Of five dollars as soon !: the balance #
the relief issues is cancelled This will be positive ad.
be then followed by law prohibiting circulation Of all
notes below the denomination of dollars The channel.
and silver the public secured against the chances loss
by broken banks and deprecated currency and the way
wi be opened to such further improvements the real in
teresls and convenience of the people may demand
The cauonsry eaactmsns have suggested cannot fai,
circulating medium inlly entitled to the public confidence
active circulation, furnish the people with subsana
currency shat canot De impaired by bank failures and -
IN time prosperity and check the means of oppression Ia
some he States, called FREE BANKiNG L Is base
ia par upon specie and in part State stocks hypo
come the creditors of the Commonwealth, by pnrchasin
Ss ess are deposited with the mi
prepared Tor circulation TO equal amount can p r
ceve no grounds Tor confidence in this system 1t must
plode in country where adopted 10 any considerable
extent wenever evulsion Its sbty; t,r
banking only be based and Conducted on money ID
and sipr Neither individuals banks lend that
which they have not and If they lend credit in the s
of bank notes without the redeem them In pi
hsv snd s ,sy n ep fraud upon ne
nor the representatives of money.
capital and hypohecang a security for the payment
OF bank issues We're not delusion, mortgages upon real
afford equal if better security, the payment OF
notes and by this process the whole value OF the real estate
the people nation Of bankers This proposition shows
that the whole scheme is Iusory and unsound
every man enjoys to lend his own money to whom he
peases the exchange of for securities 70 re-
circulaton but may be carried to an ndetnte extent
which has ali times supplied and now supply the
wants ola large proportion Of borrowers and ccnlmends
and adaptation the circumstances Of the people.
i The policy of Incorporating mining, manufacturing
pratey within individual competency has been fairly dis
cussed and guided by the uneng demonstrations, that
d"ced under he eoiro Of Individual the
public opinion has been expressed in the spirit othe age
While all the great departments Of business in the Com;
euna compeo there aIs vet some mem Who Som
stand still while the world Is going onward around them.
acted and selfish aggregation Of wealth under the proec-
ton corporate privileges preferable for the transaction
arrived these shores 1852 has changed Immense
zaton and Improvement, provided for the wants the conn
ma ana wS nreot
ment9 Where the trophies of their generous sprr
hey belong to an age that is past Tue time was 10 osasr
countries where all the rights of the people were usued
by despotic when grant by the king TO
portion of his subjects of corporate privileges to carry on
trade, or for municipal purposes was partial entanchise
rights Then, and there, had merits, and were
cherished by the friends of liberty But in this age and
country under system, where the people
eign grant special privileges is an inversion Of the
order of things 1t is not to restore, but to take away from
the people their common rights and give them to few
1t 90 back the dark for instructisn in the science
government and, having found an example, to wrest
from original purpose, and to make It the instrument OF
restoring the inequality and desposn, which its introduce
ton tended to correct. fl-.
The iaIacy that where large investments required
carry profitable business (and corPorators do not
for that which is unproitab!e individual means
nadequate everywhere reuted in this happy coun-
| try.
rounding with special privileges the natural law, which
branch OF business its appropriate ehcour
provided by Him who rules all things, every individual
i man. unrammeed by the curses OF bad government gnd-
ed by his moral and intellectual powers and his religious
principles advances his happiness and improves his
own condition and thus the happiness and prosperity Of
all promoted Every effort to modify or subvert this
sovereign law by placing classes, professions caings
beyond its control has hitherto and ever will like every
other trangresson be destructive of good II our free in
stitons rightf is right that all should be held
euual this is the law of nature, ensamped by Him
who made us-tten every human law which mpars this
equality is radically and inrnsically wrong. ,it
The rest of the message has reference to local interests
and subjects Gov Skunk strongly urges upon the legis
ature the poprey Of enactng laws the better to protect
the rights and property Of married women and
severely the enactment of many acts of special egsa
ton which he represents having produced great confu
sion and evil the administration and execution OF
the laws of the State We repeat, regret cannot
lay the whole message before our readers. ~