Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1850-12-16

influence may bs exer,ed, calculated to ef- J
feet the punclual and faithful discharge of
official obligations.
In the performance of this imperative
duty, shall invite the most frank and
friendly communication with the subordin-
ate executive departments, and shah, doubt
less, more frequently be under the necessi-
ty OF asking apvice, in my own depart.
ment, than imparting it in theirs, and shall
strive 10 maintain the most friendly and
confidential relations, so essential 10 the
public interest, in the discharge Of duties
connected by official intercourse.
There is one subject Of general legisla.
ton, in addition to those before enumera-
ted, however, to which would invite your
particular attention. do so with great
respect for the opinions of,hose with whom
may differ, and not without doubts wheth.
er j. should not be left, until the result Of
the deliberations of the Convention is
known, as that body, in my opinion, pos.
sesses supreme power over it in all things,
not inconsistent with the Constitution Of the
United States. allude TO the great bank
ing system Of the State; a system, by no
means, without its evils and imper!ections,
as all must concede.
The question is now, however, whether
the General Assembly has the constitution.
al power TO repeal the charters Of private
monied corporations, and annut their usual
and ordinary franchises. Asto the sxer.
else Of this power, there is diversity Of
sentiment. The right has been decided
by the repeated decisions Of the highest iu.
dicial tribunals Of the country, while the
affirmative has been ably and jealously
maintained by political writer's Of great
merit.and statesmen oil distinguished ability.
!hink it may be safely asserted. how.
ever, that all special legislation for the
benef. Of capital at The expense of labor:
that is, in the character Of a monopoly and
confers upon the few exclusive privileges
which the many are prohibited TO enjoy.
are utterly inconsistent with the nature and
spirit Of our democratic institutions. They
should be very seldom IL ever granted, and
when found TO be injurious to the best inter.
ests OF the community, there ought. some-
where, to exis, the unques,ioned authority
10 remedy every evil they iniiic,.
There are many modes in which. ap.
prehend there is no doubt. but wha, q mon.
led corporation may be reached by legis.
lative enactment. though the charter is 81.
lent upon the subject !, mny be visited,
examined, and its course uf business con-
trolled, SO as to meet the convenience and
afford security to the community, by infor.
nation and exposure Of It's affairs.
But the important question to which. |
would invite your particular attention, al
this time. is the admitted inequaliy Of the
taxes paid by The banks upou their proper
,y, when compared with those paid by 9th.
er individuals upon theirs. and leave it 10
your better wisdom TO devise and apply the
remedy, if one exists.
Property is the basis Of tnxation, and
the public burdens should be equally dis
tributed inthe ratio Of its possession. The
former with but scanty mems; the mechan.
ic. who labors from day 10 day; the mer-
chant or manufacturer. though his business
be ruinous, 10 taxed from one to t,ro per
cent on the full value Of every thing he
has; but the capitalist places his means in
bank, by the purchase of stock, and he is
exempted, under any possible contingency,
from the paymen, Of any other than State
tax. and that iimiiedto to but sir per cent on
his nett profit. This fentere was introdu-
ced into the system, | suppose, 10 invite
the investment Of capital from abroad; and
while it has had uchiendencies, it has en-.
abled our own citizens 10 avail themselves
Of it, by the most profitable employmen Of
their money, and al the same time. by
avoiding their just proportion Of the public
burlhens. III a. -a els
There is reason for the belief, that any
such system Of inequality, is too high a
price to be paid for any benefits receive ed,
because it is directly opposed to the genius
and spirit of democratic institutions; one
Of whose fundamental doctrines is, an equal
distribution of The burthens of government.
The feeling is by no means confined to
any political party, exclusively, that the
banking institutions Of the State, one ans
all, as they are protected by our laws ant
supported by the toll and industry Of oui
people, should consent, without contest Of
delay, to contribute their just proportion te
the public expenditures, but ifthsy decline
acceding to so equitable and reasonable q
measure, that they should be constrained te
DO so, if the constitutional and legal mean.
are within the province Of the General As
sembly. fa-a
There is, believe, no chartered guaran
ty, that the officers of the State shall re-
ceive their issues for taxes, tolls, or in pay
nent of the State lands, and there can be
no room for question, but what the prohi
bition, for such purposes, of the reception
Of their issues by the agents Of the State
until their assent shall be given to such
reasonable proposition as may be made, is
within the legal as well as discretionary
limits Of flegisiaton. a5. p .ss=s~ ~ !.
But aside from this, it is worthy Of the
most serious inquiry, whether the General
Assembly has, as at one session, the consti.
tu,ional power to dispense with, or bargain
away, the right of taxation to any part oi
the property Of the State, so as TO prevent
the resumption of the right by the Gene.
raj Assembly, at any subsequent session.
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