Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-03-31
Legislative.

Pursuant to joint resolution, the Leg
lslature of this State closed one Of the long
est sessions on record on Wednesday NOR
ming last.
Before the adjournment the Free Bank
ing Bill, SO called. was adopted by the u
nited votes of the Wings and Free Soilers.
The good time" that has been so much |
talked of,need not be waited for much longer.
1t has actually begun to dawn upon us land
in very short time the entire people and
athe rest Of mankind" will be enjoying the
most unbounded prosperity! What glo-
rious prospect lights up the future. There
will soon be no more poverty, with its at
tendant evils, and no one will hereafter be
going about crying "put money in my
purse" for this new system of free bank
ing will make US all rich. There need no
longer be any more work, for who would
toll and delve and sweat to procure the
comforts Of life, when he can become
banker and with rags and lamplack work
out for himself fortune with SO little
labor and trouble. To the wings and free
soilers belongs all the glory Of this great
measure; and when the change comes which
this stinkering the currency" is sure to
bring about, let them not endeavor to shirk
fro the responsibility.
When the bill came up on its final pass
age, the Democrats moved to amend it by
submitting it to vote of the people, but
the bankites, distrusting the people, refused
to submit it to them for their ratification.
and the amendment was lost by vote Of
yeas 27, to nays 36-the Democrats vot.
ing for, and the Wings and Free Soilers a.
gainst submitting it TO vote of the people.
The Democrats then moved to amend so
that future Legislature should have the
power to repeal the act; but this amend
ment was also voted down by vote Of 25
yeas to 80 nays-ths Wings and Freesoil-
ers voting together to deny the people,
through their representatives, the right to
repeal the act, however edious, unjust and
oppressive its operations may prove to be.
But this is right which the people never
have granted away and never will surrender.
1t was then moved to amend SO as to make
the stockholders of any bank formed under
the act, individually liable for all the debts
of the bank, which was rejected by vote
of yeas "a, to nays 33-the Wings and
Freesoilers voting together against the indi-
vidual liability clause.
Why was this bill crowded through at
this time? Was there any urgent necessi-
ty for its adoption? Had the people de.
manded it? had they expected itl If they
had, what objection was there for submit
ting the act to them forl their approval
or rejection! No, the people did no demand
it, for they are already bank ridden quite
enough. The present bank brood have
grown Fat on the laboE-ef people, and
they do not need nor demand a larger and
more hungry swarm to feast upon their
hard earned substance. But this was ths
last hope Of the Rag Barons. The people
are about to adopt new Constitution,
which provides that all such bills shall be
submitted to the people for their approval
or rejection, that they shall be repealable
whenever the people shall choose and that
the stockholders shall be Individually liable
for the debts of the banks. The Rag Bar
ons did not like 10 come under these pro-
visions; they dared not trust to the decis-
ion Of the people, and hence those who do
the bidding Of the money power must needs
hurry this bill through in order to head the
people.
The Bill to Tax Banks wrs also adopted,
after the most strenuous efforts on the part
Of the bankites to defeat it by delaying ae-
ton thereon. But the whig papers con-
tend that the bill cannot 60 into operation
without first obtaining the consent of the
Banks, though the Legislature may at any
time change the law by which the people
are taxed. If the Banks shall endeavor to
continue their frauds upon the treasury and
the people by resisting this law, we shall
soon find out which are masters.
Farmers Mutual Insurance Company.
The Farmers Mutual Insurance. Compa-
ny of Portage County, incorporated by the