The Democratic sentinel. [volume] (Cadiz, Ohio) 1852-1853, 1853-08-10

ftd 0ttBhN n fe fHANis'aH' ~ s'N 49,
ing OF deposits Is no matter OF coNPUL-
sIoN.
Again: Il is objected that the law oPe-
rates more severely upon s'me insGl utiOhs
Than upon others. This Is To be regretted.
But this occurs. not from any defect IN The
law. or the principle upon which IL is framed
but frum the want of uniformity IN the char
ters of The different banks. The law itself
i, uniform; but unfortunately, the bank
charters are not. Sums banks have greater
privileges than others-are allowed 10 issue
more circulation in proportion TO their capl-
tai aad give less security forts redemption
consequently the operation Of the law
may be somewhat more severe upon some
banks than others. Il Is 10 be hoped that
the laws regulating banks, lheir power and
privileges. may ye, be made uuiform-that
all Of them may De placed upon tte same
platform -reqaired 10 gigs tic @tR;s sec2rity
Tor tie redemption Of tteiT ciyratation, and
then the operation Of the law will be precise
ly alike upon all,
w. haze thus, as briefly as possible,
glanced at some Of the leading points Of
difference betweep the new law and the law
subjeet eapdjlly and fairly. The figures
ana statistics ge have presented haye leen
prepared with some care; it 'hey are incer-
reel, in any particular, We shall be happy tq
he sci right The tax law OF 1852 Is not,
we believe, Claimed by its trainers Or friends
10 be Rrrtcei. 1t is conceded that lie all
other 1aws, experience may and doubtless
will point out defects. But On The whole,
VIC BeBs,e it will afford general satisfaction
10 The people Of the State. 1t explodeS the
old system Of special exemptions, aims at
an equal distribution of taxttion upon all
the property Of the Stale, aud lays So hroaa
4 aiogpdation that with an economical ad-
ministra;ion OF our State government, the
'levies will rapidly run down and the people
soon be relieved from the bur'ken Of public
debt which has .ong pressed like an incubus
upon their energies an kept their taxes
nigh, With duplicate OF eight hundred
millions, continually increasing with the
growing wealth Of the State, and By the
gradual payment Of the public debt, it will
lie but few years until the people of Ohio
will be comparatively free from tax.
Democrats Of Ohio TO you belongs the
glory of inaugurating this new eta IN the
financial affairs Of tho 5 ate, upon which we
are Just NOW entering. The new constitu-
tions an instrument of your own creation,
declares that the public debt shall be paid
Oft and no new one created. Your Legtsla-
ture has enacted law providing for raising
Il Sinking Fund for its payment which, un-
like all former laws upon that subject, pro
vides that the amount raised annually snail
be Immediately applied hthc& p~rP9Se and
none other, instead of being loaned out TO
favored persons or corporations rs formerly.
This fund has to be raised, mainly, 10y tax
alton. Tho constitution and the tax law
have wisely provided that the property of
banks and other corpoF9tlons shall contrib
ute their Just proportion towards the pay
ment, Of lnis public debt, as we'll as the sup
port OF government. Tile Banks hare ret%S
I'd to submit to tie lay!
Notwithstanding the obvious justness Of
these provisions--notwithstanding these in
situations have prohted and speculated
largely bv the creation and continuance Of
. This public ebt-notwithstanding much OF
the expenses Of the govern nent arise from
providing them with facilities for the collec-
tlon Of their debts, the transact, n of their
bu siness and extending to them the protec-
llon Of the laws-although they never could
have had an existence nor could that exist
ence now be plo6atable TO them or even pro
longed single day without the sustaining
hand Of the goyernment-although they
''toil not neither do they spin;'' yet, by rea-
nn OF the special privileges conferred upon
them they are enabled to make dividends
pt profits nknown 70 any other pursuit; in
the face Of all these things they have the
audacity to demand that they shall be ex-
empted' from the common bqrthens Of the
citizen who asks no special or exclusive
privileges from the government-who earns
his bread in the sweat Of his face-w whose
highest desire is that he may enjoy in peace
under his own vine and fig tree, the fruits
oI the laborS Of his own strong arms, es-
teemins i not Il hardship but pryiIese to
contribute his proper proportion t9 the gov
ernment which thus protects him. Will
you permit these glorious provisions of the
new constitution and the new tax law to be
lrampled under foot, nuIlifed or disregard
ed? Or will you sus tain them and the men
who carry them into effect? We do not
permit ourselves to doubt for moment
You will sustain the law and the men who
enforce it. Political partisans may fret and
foam; subsidised presses may distort a.d
,aisrepresent, the combined monop Dlies qt
The State may league together and plot and
scheme; but all will be ofno avail. In the
language ofa contemporary; "Banks have
got to disgorge-z-raiirqads have got to pay
taxes-cofpofatiqns of every character have
got to be put on level with uniucorpora-
ted capital, and the unchartered in4iyidual
has no longer got to pay the taxes which be-
long TO his more wealthy but legally privi-
legged neiyhbor."
Kentucky Elections,