Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1848-01-12


robbery and swindling. An Investigation
may result in developing connection be-
tween the Institutions here, and this broken
bank that will make them liable to redeem
the paper of this worthless concern.
But, said Mr. o., let us return to first
principles. Why are we called upon to
pass these endorsing resolutions and their
preamble? Let us analyze their provis-
ions, and thus test their truthfulness, and,i I
possible, learn the benefit 10 be expected
from their adoption: Whereas, the erpe-
r;ence of The past three gears demonstrates
the ability Of the banking institutions Of
Ohio, to propids The people 'Oith safe ami
form, and convenient currency" Does
The history of the past three years, said Mr.
o. demonstrate any such thing! Why
then have we, the past year, had more ior-
eign paper among us than in any previous
wear? The Senator from Trumbull, Mr.
Beaver,) fully sustains this assertion. He
remarked few days since, that in his town,
this fall, out of seventy thousand dollars,
paid out for wheat, ,fifty-nine thousand were
foreign bank paper. Does this look like a
uniform currency? Part Of this very for
eign currency is Delaware Bridge Compa-
nv, Susquehanna County Bank, and the
Bank of Lewistown, all now utterly worth
less. Does this look like safe currency2
Take also one thousand dollars Of the cur.
rency of the state, such as is now to be
found iu the hands of the people, consist
ing of all kinds Of New York, New Eng
and can you convert them into gold and
-,
of one or two per cent? The people know
full we'll that you cannot. Why, then,tell
them that they have got convertible cur
rency? Every word. then, of this pream-
BILE, said Mr. O., is false, and ought not to
receive an endorsement. Let US, then, ex.
anime the resolution, and see how it will
stand the test of scrutiny: "Resolred.
That it would be unwise, impolitic, and un-
Just, to repeal the charters of these bank
ing institutions"
Is there any danger, said MIRO Of whig
Legislature doing any suoh act? Certain
ly not. Why, then, try to make the peo-
pie believe that any effort is making to that
effect? Has any democrat offered to in
troduce bill repeating these charters?
Not one. No, said Mr. O., that is not our
policy, for if we had the power to day, and
should exercise it, the result would be disas-
trous to US in the extreme. Your Bebb's
and Woods ct omne genus of stumpers, aid
ed by the united money power of the State,
would then cry ruin and panic to some
effect; every money loan would be called
in, every screw would be turned by the
bankers to Cypress the people; their craft
would be in danger" and their effort to
produce panic, aided as they would be
BY every whng politician, would be irresis.
tible. The bank party would be again
brought into power, and like EsoP's fox, q
more hungry swarm would be brought up
on US.
Our policy, said Mr. o is more rudica
than this: we shall seek to accomplish ioul
object in convention to amend the consti
ton One object that we have in view ir
calling convention, is so to amend the
organic law Of the State so as to take from
the Legislature the power to grant char
ters. In the constitution; and there only
must the democracy seek to guard the peo
pie against such legaized plundering -
| We give you notice now, Mr. Speaker, ,snio
Mr. O., that when the people shall meet in
|
then you will find the democracy in battle
array against all such chartered monopo
lies.
But what next? "Compelling The ta1e'
to be paid in gold and siluer only
What law now exists upon your statue
books, authorizing the Treasurer TO take
any thing but gold and silver for taxes!
Washing gton, and the first Congress that ev'
| er sat under the Constitution in 1889, ex'
pressly enacted that the public revenues
should be collected in gold and silver corr
only. What horrid burbarians, in 1.-THE
opinion of the mover Of this resolution
Washington and our Revolutionary father;
must have been!
Again, the constitution itself provides
that nothing but gold and silver shall be
made tender for debts What horrid To-
CO focos, the trainers Of the constitution
were, to compel the people to pay then
debts in gold and silver! Why truly, they
must have hated bank rags rs mach as the
wings hate gold and silver, and they mus
have loved gold andsilver as much as th'
wings love bank rags! If it be true, a
we believe, that bank rags displace gol'
and silver, dollar for dollar; and that
you withdraw paper money, gold and silye
f will supply its place, dollar for dollar wh!
, then not pay taxes in gold and silver Jus, a
we'll as in bank paper? True, said Mr.
J, O., before you enforce such measures, yo'
must bring about that condition of thing
, which will provide us the gold and sllVe
) in the place of these bank rags. Then
said Mr.. O., you would not have to lamen
the thousands upon thousands of loss sus
sustained BY your Sta Treasury in con
sequence Of the failure of banks and tn
depreciation of their paper.
But again, your resolution says Impc
, sing additional burthens upon the farmer
and laboring men, To whom, said MI
$ O., do you intend to apply this portion
the resolution? Is it intended for the de
, mocracy? Did they send the assessors
< hunt up your old muskets, and beehive
and saddles? Did they revalue your farms
a and assess, your sheep and your hogs!-
). Are the democrats the authors OF your ne'
tax law, gotten up expressly for the pu,'
: pose of increasing the burthens upon tn