Fremont weekly freeman. [volume] (Fremont, Sandusky County, Ohio) 1850-1853, 1851-09-20
aLet the PeopIe Remember.O p

The editor of the Democrat in bis last paper
says;
That the Legislature last winter passed a
law taxing banks as other property. and that
the new Constitution perpetuates this measure
OF reliefto the ground-down- tax payers Of
Ohio
That Attorney General Stanbury and a
majority, if not all the whig candidates for
Supreme Judges, believe all such acts uncon-
stitutional They believe bank charter is a
vested, sacred right
The Legislature of last winter passed law
leaving it optional with banks chartered pre-
vious to the passage of that law, to list their
stock for taxation as other property, or pay
their taxes in accordance with their charter.
One or two banks have come in under the
new law, because it lessened their taxes, but
others have refused to do SO, saying, that if
they conceded to the Legislature the right to
alter their charter in one particular. it will not
stop until their rights are entirely sacrificed.
ThefWhig party claims, that when the Leg
islature charters bank, Rail Road, Plank
road, or other company, without reserving to
itself the right to alter their charter at pleas
ure, and such company proceeds in accord
ance with their charter, that the Legislature
has no power to interfere with it. In other
words, the Wings believe that contract on
the part of the State with individuals, is just
as sacred as a contract between man and man.
The courts have often decided in accord
ance with their view of the matter, and that
our authority may pass as orthodox with Lo-
coiocos, we will give the opinion of Gov. Wood.
While on the Supreme Bench, law similar
in all respects to this was before him, and the
Court pronounced it unconstitutional The
case was this: By the Charter of the Com
mercial Bank of Cincinnati, it was taxed per
cent on its dividends. A general law was af-
terwards passed taxing it 5 per cent This
the Bank claimed to be unconstitutional, and
the question was submitted to the Supreme
Court Now, as our Locofoco friends don't
want to vote for any man who holds these
opinions, we will simply call their attention to
what Judge Wood said on the subject
The case was decided by the Court in Bank,
after due consideration. and may be found
reported in O. R. part st P. 125, The court
says: ~
we take it to be well settled, that the
charter of a private corporation is in the nature
of contract between the State and the COR
poration. Had there ever been any doubts
upon this subject they must have been re-
moved by the decision of the Supreme Court
of the u States, in the case of Woodward VS..
Dartmouth College a Wheat R. 5ls)-
POaUers once granted cannot be revOked;; nor
can any material change be made in such act
of Incorporation. asaless By the assent Of the
corporations themselves. Hence it is custom
ary, in the Legislation of this State; to reserve
power of change or alteration, when it is de-
sirable that such power should remain in the
State
This decision is but one of number, and
will answer our present purpose, to show that
this love for the dear people on the part of
the Democrat is all sheer moonshine. The
editor of the Democrat is certainly not so ig-
norant as to suppose that Banks would refuse
to be taxed in accordance with law. at least
We have the charity not to attribute to him
such ignorance. and putting the most liberal
construction on his remarks possible, we only
charge him with 6ana6ugging his readers.
twill be seen that Gov. Woods opinion, as
given above, fully comedies with that of the
Whigs,and if editor of the Democrat is opposed
to such principles, we call upon him to take
Woods name out of his paper, as candidate
for Governor, and hoist some other as true
exponent of his principles, Our neighbor pre-
sumes on the ignorance of his readers, to an
extent we did not think him capable. But
Humbuggery is the order of the day with him.