The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-11-27
WHOLE NO. 1866

LocoFoco CHANGEs.-The NeD York
Tribune has an article upon ''Pe-ties and
cer'ties" designed to contradict The point
80 frequently aud earnestly insisted on
IN the speeches and editorials OF the self
styled Democracy" that the country is
hsbituslly governed. and conIroverted
questions are ultimately decided in ac-
cordance with their principles. II in
stances ih support ofi,s argument thele-
gal prohibition Of small Bank notes eiiac-
ted by the party Democracy in 1S47, and
its absolute repeal by the same party at
Ter the wholesome Aogging' of 1898. So
700 for a series of years jealousy of, and
hostility to. corporations. as such, was
vital element of the current Democratic
faith, and the individual liability ofeach
stockholder in the Mining. Msnufactur-
ing. Railroad or Canal Company. for the
full amount Of the debts Of said company,
was almost universally insisted on by It's
debators and journals. The Wing Leg
islature Of 1s47-S. upon whom the Com
Stitution imposed the duty Of defending
the liability Of Corporations, framed d
General Manufacturing Law, based on
the principles Of Limited and Proper
tionate Liability. Party Democracy"
denounced and stormed, and threatened
repeal Of this law, or its modification
IN accordance with its own creed; yet
from that day to this. although one Leg
lslature was equally divided in politics no
one has seriosSly proposed substitu-
ton OF Unlimited for Limited Liability.
ln New Hampshire. few years ago,
the rampant Democracy planted ilselfo on
the principle that the State had no right
to suthorize company to run railroad
through citizens lands on paying him
a valuation thereof-thsi each company
must buy its track of every landholder
whose territory it wishes to cross, and
pay therefor whatever he may see fit to
exact. Finding this ground untenabIe.
tho people wanted the railroads. and
would have them. Democracy, preferring
not to butt heads with the locomotive.
quietly backed off the track. snd has stood
carefully out of the way ever since.
In the West, where hostility to Banks
is the form taken by the party's natural
instinct Of radical opposition 10 all the
means and agencies Of Industrial Prog
ress, Illinois banshed banks from her soil,
and Wisconsin forbade their establish
mert. Now, we SEQ Illinois voting
Banks" by whole counties on the d.
rect issue, while Wisconsin overturns her
established Democratic ascendsnsy. and
elects Whig Governor and Legislature.
in contest whereof the animating soul
was popular determination to have a
secure Paper Currency composed of the
notes of home BaRks. The same State
started with the Free Trade theory of ma
king no Usury Laws. Having tested
the theory she finds it works badly. With
no Banks and no UsurJ Laws, she finds
money scarce, and interest exorbitantly
high; turns about and tries tho other track,
and like her sister exPerimsnter. Oregon,
last winter enacted law fixing the rate
of interest. These are but few illus
trations ofthe general truth, that our par
ty Democracy habitually retains or re-
gains power by surrender of its tunda-
mental principles; but these will suffice
for to -day.-New York Times.