The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1851-03-12

KHoy 90 DOL Say So 4 unu no IauN WHaioE'
er with them, for some Of these opinions.
Some Of these gentlemen think they place
themselves upon very SAFE ground, SO far
as this matter is cohcerne1, by assuming
tina, a.! banks are unconstitutional. But the
object is to repeal bank chSriers; end do
not know but the time will come, when al!
oui banks will be struck out Of existence foi
their bad conduct. have seen wings ucl
very uawisely upon this subject; and one
Of tho most unwise things which they have
dune, has been their attempt TO shoulder the
responsibility rf taxing banks less than other
property, and justiiying the act as morally
right.
1Bul now, let US suppose for moment
that you wan, 20 get clear Of banks entirely
present and future. And suppose that n
committee should report to this body prop
osiIion, to the effect lhDi no bank sI,all hete'
after be created aud that. all the existing
banks shall be wound up, and that no bank
pnper, whether issued in or out Of The State,
should ever circulate under severe penalties,
md shall such proposition be adopted
But suppose !, ms member here, entertaip-
ing some doubt whether the people would
ndop! the Constitution, with such provision
in it, and thinking, us | do, that the Conss-
su,lon contains sonc very good things, and
suppose propose 10 submit this report for
the adoption Of the people, ms q scperatc
clausc--I know precisely what gentlemen
would say in reply 10 my proposition. The
gentleman from Hamilton, Mr.. Reemcl.n !
wouli rise in his place, aud say thai all banks
were nconsiitutionul-in contrnvention o
a provision of the Constitution Of the United
States, and lie would not submit to the peo-
pie proposition 10 violate tho supreme Law
Of tho land. The gentleman from Hamilton,
and those acting with him, would put this
clause into the body ofthe-Coastitu'ion, and
say, here, now, voters Of Ohio. say whether
you will accept this Constitution or not with
this provision in i.t But when propose to
submit the snmo clause separately, in iGen
tcaly the same words, they would he incon.
sistant 10 give an opportunity for the people
to continue the existence of these uncensti
,ulional corporations. But, suppose we
were to make no other amendment than this
to tho old constitution, would gou not submit
i, to the people in iha, case? Brl still you
would not submit identically the sa69 prop
oslion by itself! Now, mry be liltle
muddy y-headod, but, all the Arguments ever
delivered before delibPratve body, This
does s,rke me as the silIest, and yet this il
The verv thing which has been done in this
Convention, only 10 voting 10 submit the
question 10 the people whether they would
accept clause which you propose 10 be "a
part Of the Constitution.
Bn, have pEother proposition. | affirm
I that these bank charters which you nre going
to repeal, are constituents; and mn going
to vote. .agains. your proposition to authorize
their repeal. say the presen, bunk created
by the State Of Ohio, is constitutional.
say that. Who says it is mott
Mr.. Reemelin, Tin he seat) do.
| Several Members. IL do" II do"
| MIR. Kennon. "I," "i," all around me
say it is not constitutional. Well, saw il
is. Nnw, tho genlemsn f,om Hamilton /.
going to fix out Constitution, by which in.
dividuals may be incorporated, To do what?
Mr.. Recm,ln. would incorporate me,
for any lawful purpose.
| Mr.. Kennon Then, wherever iudivid
uuls could lawfully associutc themselves to
ge,her, for a lawful purpose, the gentleman
would give an &c, Of Incorporation We'll
that is good principle. ,Bu. what 10 law
ful purpose is another question.
GentIemen will sny to me here-thc gen
tleman iom.. Guernsey. perhnps-tl'e Con
slitulion Of the United States snys no Stau
shall emit bills OF credit, hor make nny,hiu,
but gold and silver coin q lawful tender il
the payment Of debts; and could anything
be mule plain than that this was inteuded Il
prohibit the States from creating t,anks7-
We'll, il gentleman can make that out, tkcy
can bent me.
But what is bill Of credit, here made un
constitutional, so that i, cannot be n tender
in The payment OF debls--whal is i? Gen
tlemcn ask me, is not n bunk hill bill o
ctedil? Ill Que sense Of the word il is; ant
50 is bill Of exchange. Gentlemen thel
say, how is il possible, lhen;--Is il not a
cIeaI az any mathematical proposition. tha
q State cannot pu'h1tizs corporation to d
that which il would DO unlawful for tho Sat
itself 10 dos The interference from ihes
promises is not true. For S,a,e TO author
ize the issuance Of bills Of credi, does no
como within the prohibition which says tha
Slnie shall not grant letters of marque an
'Irepris4i. BIT, if the State OF Ohio we,e I
emit bark pnpnr FOR the redemption of whic
the faith o! the State should be pledged, tha
would be unconstitutional; aud so il Woul
RI be, ifthe State we're TO au h1rEe individualt
10 insure paper money, upon The plighte
faith Of the State. ~.lt
Mr. Grnesback (in;crpnsing.) Could Ii
8 ATE Of Ohio grant charter TO coin none,
Mr.. Keunun. M s.r, that could no, i
dono because th,t power belongs To lhe Un
ted s at,s. Coming money is The exrrcis
of sovereign pawer; and is not only erpres
.t ly delegated TO the United States, bu. tux.
: fromthe States, and whoever attempts
I exercise il, whAther State or corpolu uliol
D exercise sovereign power belonging 10 Ii
United Stairs alone. Not so with This b
: Of cred I, as | will hereafter show to this Coz
y ventioR. W 9t t.
But what 10 bill Of credits This was
2 we'll understood by The fremers Of the Co
y sli,ution ofthe United States, rs a bill
I, exchange is by the lawyers here. Bit VIII
is the meaning Of a bill OF credit, as used
; The Constitution Of The United States, al
10 the Articles Of Confederation. Why, q
+ cry one Of The original States Of this Uni,
Is - believe the whole thirteen-- had issu,
70 Inn immense amount Of these bills for the r
+ demplion Of which they pledged the faith /
i sovefeignty, and the general government .
D SO. lind issued more Than two hundred nj
y lions Of dollars in these hills upon the (ai