Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1850-09-23

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the Banks, aud Taxes for the People.
Let the LabOring men think Of these
things.
Some time since, (how long we know
not, as these transactions are kept conceal
ed as far as possible from the public eye,')
we'll dressed, black, g|oved, dandiied
looking gentleman made his debut into our
thriving business town, and stopped at one
of our public houses, protesting to be en-
gagged in the business Of horse-buying.
His dress and personal appearance were
such as indicated that he was not OF Plebian
origin, but rather belonged to the class
called ''rich and we'll bo-n." In fact, his
demeanor was extremely well calculated to
set him up among the green ones Of upper
tendon on small scale, and to inspire
them with the idea that he was "some."
But it was as much impossible for this
gentlemen to carry on his business, or cut
a swell, or cut-'sstick" without little
rhimo, as it would have been for any other
man. But he was one of that particular
class Of gentlemen who are never at loss
for means to ''raise the tin'' He accord
ingly made application 10 our city "safe
and solvent" the man Of the shop
that he was from BostoR-was engaged in
buying up few horses-was expecting
some drafts from Boston on a firm in New
York in day or two, and probably i:
would be an accommodation for our bank
to obtain his Eastern funds--that he was
wanting to procure small amount Of cur.
rency before his drafts would arrive, and
asked for an accommodation. Of course,
our Bank wanted the drafts, for it was do
ing 'Joreigm business" and very niee
"speck" could be made cut of them. The
accommodation was accordingly granted,
and our very aasiable gentlemen left for
Cleveland, where he expected to receive
his Eastern drafts, with his ONE THOUS.
AND DOLLARS accommodation nicely
slowed away in his "fob." and he has nev-
or been heard Of since. The suspicion is
strongly entertained that if the gentleman
deals in horse flesh i. is done in private
way and so as to avoid detection as far as
possible; and if he makes any drafts on
Eastern Bankers, they are Faro bankers.
At least, it is said, that our Cashier was
satisfactorily informed that no such gentle.
man was known to the Boston or New
York houses, and he finally laid the matter
before the Directors at their next meeting,
who decided that the Bank should shoulder
the loss.
About these same days, when a wander
ing blackleg could procure an accommo-
dation to the amount of'a thousand dol
lars, upon no ether recommendation than
fashionable gear and silk gloves, and
aosth no other security, not business man
in our place, with the best endorsed paper
that the county could afford could obtain
an accommation of like amount, and we
have heard of a number Of Instances in
which some Of our wealthiest farmers
have been to the Bank with the best en-
dorsed paper and asked for an accommoda-
tion Of a fen hundred dollars, and we're
modestly told that the Bank was ssnot MAX
ing any domestic loans''-thai its whole
capital could be more proftably employed
in doing fJorsign busimess''-and thus,
our safest and best business men have been
sent away empty, while wandering
BLACKLEG and VAGABOND could
obtain loan of THOUSAND DOLLARS.
Oh, what glorious accommodating irstitu-
tions these Banks are!
But there is more to all this. The
Bank set down this $1,000 10 the account
Of its losses, and by the provision Of the
law creating it, it is to be deducted from
its profits when the Bank pays its taxes.
The law for taxing banks provides that
they shall pay six per cent. into the State
Treasury as tax upon their profits, after
dsductimg their Expenses and losses. The
tax upon this $1,000 at per cent. would
be $4,000, and because the Bank has been
SO unfortunate as 10 lose the thousand dol
lars it is exempt from paying taxes on it.
And how is it with the farmer whose stock
dies off with disease-whose crops are de.
stroyed by the devouring insects, or blight.
ed by untimely frosts? How is it with the
young mechanic, who has commenced
business with bright prospects of success
before him, whose shop and tools are de-
stroyed by the devo uring element in the
stiffness of night when his dreams for the
future are the brightest? Has the law
any mercy for them! Does it exempt
them from any portion of their burdens,
even in these their hours Of want? Nay,
nay. The stern, unyielding demand is