Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1850-10-03

denly 10 strike down the currency sys
tenn under which they were contracted
/ and under which we have already live
and prospered, would produce convul
sicns which would shake the business Q
the State to its very centre. There ]
no interest, except that ofthe rich.credi
tor, whose whole estate consists in tn
debts due to him, but would suffer an'
be prostrated by il.
And this is proposed at a time whel
our currency is the best in the world
In l942 there was some show of excus
for the "mad caps" among the Demo
cratic party, who then attempted t
change the war-cry of the party from
"Bank REFORM" to "Bank DRsTRUc
T1oN," and who were silenced BY tn,
"Harmer o ] utions," denouncins
them as '.reckless demagogues." Th'
currency was then resting upon an un
certain basis. Both parties had tin
kered at it, and it had been kicket
about as political football for years
There was then need of reforming legis
lation on the subject. That Legislation
has since been had. and our presen
banking system commands the admira
ton, and almost envy. of all the sur,
rounding States. 1t has revived bust
ness. 1t has restored confidence. /
has enabled US to pay our taxes. L
has raised the price of property, and
enabled us TO begin the payment of oul
State debt. Under it all kinds of busi
ness haze prospered 1t has been in
operation nearly five years and during
that time, although every business man
has lost something by individual credit,
yet NOT ONE DOLLAR HAS BEEN LOST, BY
THE BANKS, TO ANY ONE. And no per-
son has failed, during the whole five
years, to draw his specie for one dollar
OF their money. when presented at the
counter of the Bank for payment.
Then why strike down or currency
and credit system? It is as old as our
State. We have done nothing without
it; and what have we done with i'll
With it we have transformed a wilder
ness into State, second in importance
TO only two States in the Union. With
it we have cleared up ten million acres
of our land, ard dotted the State all
over the with houses, orchards, gardens
and fields. With<it we have built the
"Queen City of the West," Cleveland,
Columbus, Dayton, ChilIicothe, and al
most a countless number of towns and
villages of less note. With If we have
the whole State with roads,
canals, railroads, plank-roads, and tele-
graph lines. With it we have bedecked
our rivers with steam boats, and our
lakes with "palace-made" ships and
steamers. With it we have placed "a
school house upon every hill, and a
house of worship in every valley."-
With il we have grown great, with
rapidity utterly unexampled; so much
so that our progress has become one Of
he wonders of the age. Is it possible
hat we have achieved all this under a
defective Constitution? Have
We run this swift race, carrying dead
weights all the time. | thought it was
our system of laws, more than any
hing else. our Republican Constitution,
o which we owed our prosperity. Such
s the opinion ofour neighboring States,
md of the world; and such is the fact.
The currency and credit system is THE
1HIo SYSTEM. 1t is part and parcel of
,ur Constitution. 1t has "grown with
,ur growth and strengthened with our
1t has become a part of our
very nature. We know how to do busi-
less under no other system. The hu-
nan body could almost as well live with
,ut the system by which the circulation
If the blood is kept up, as the business
If the people of Ohio can prosper with
,ut their currency system. Take from
hem that system, and they are launched
lpon an open sea of Experiments with |
'ut pilot who has ever sailed the sea
'efore, or who knows the hidden rocks |
nd whirlpools that lie in wait for them.
Fellow citizens, there are other SUBJ
scts upon which ! would be pleased to
ddress you. confne myself to this
ubject. because of its importance TO us
the present time-because / fear lest
le State of Ohio, suddenly stopping in
er onward career of greatness, in an
our Of party madness and folly. should
Ike step backwards. towards the hard
loney crudities of the dark ages, which
fly years of wise legislation would not
gain retrace. JOIN WEIGH.
Athens, Sept. 14th, 1850.