The Democratic sentinel. [volume] (Cadiz, Ohio) 1852-1853, 1853-02-02
Banks and Bank Taxes. The Har.
fison Branch.

We have occupied a considerable portion
Of tO-dAy's paper with extracts from different
papers in tins State. in relation to the banks.
and their refusal to pay the amOunt Of tax
which has been levied upon them. Also. a
law which is before the House of Repre-
sentalives, for the more speedy collection Of
bank taxes. We give these articles Of our
contemporaries. to show the opinion that seems
to be the most prevalent in the Democratic
party in this State, In regard to the banks
paying their taxes. We cannot say that we
agree with them in every particular, altho'
in the main, they are generally correct. We
have our opinion about this thing Of bank
taxes, which we will try to give before we
close this article.
The case will be brought up for a hearing
on tomorrow, the 3rd inst, before the Su-
preme Court in Columbus, which will decide
whether the laws relating to taxing banks
are constitutional. We shall wait with some
anxiety for the decision of that Court, end
which we suppose we shall be able to lag be,
fore our readers next week.
The Branch located in Cadiz is among The
number that refuses to pay its proportion 0
taxes. 1t refuses to pay it on the ground
as it says, that the law passed on the 18th o
April, 1859, is unconstitutional. Whethe
the law is constitutional or not, we shal
leave our readers to decide; and in order t
enable them to make up that decision, we wi
give all that the Constitution says about tax
ing banks, as well as the law relating to tn
same subject. +
Section 3 of Article XII, Of the Constitu
ton, says:-
Sec. 3. The General Assembly shall provide, b
E law, for taxing the notes and bills discounted or pu
! chased, moneys loaned, and all other property, effect
or dues OF every description, without deduction,l
all Banks, now existing, or hereafter created, and
all bankers, so that oil property employed in banl
ing, shall always bear a burden OF taxation, equal
that imposed on the property Of individuals.
The law passed on the 18th. Of April, 1885,
has the following about taxing banks:-
SEC. 10. 1t shall be the duty of tie president al
cashier of every bank or banking company that shi
have been or may hereafter be Incorporated by I
laws of this State, and having the right to issue bill
for circulation as money, to make out ana return Il
S der oath, to the auditor of the county in which su
# bank or banking company may be situated, in I
month of May, annually, q written statement co
tanning,
lst. The average amount Of notes and bills d
counted, or purchased by such bank or banking col
PAW, which amount shall include all the loans or d
counts OF such bank or banking company, whether
riginally made or renewed during the year atoresa
or ut any time previous; whether made on bills off
change, notes; bonds, mortgages, or any other e.
dence of Indebtedness, lat their actual value in II
neyD whether due previous to, during, or after
period aforesaid; and on which such bank or banki
company has at any time reserved or received, OF
entitled TO receive, any profit, or other considerati
whatever, either In the shape OF interest, discou
e exchange, or otherwise.
Ie I'd. The average amount of all other moneys,
y fects, or dues OF every description belonging TO 81
bank or banking company, loaned, invested or o
erwiseu used or employed with q view to profit, or I
i on which such bank or banking company receives,
is entitled to receive interest.
The above law, which relates to the ia
ing of banks, was framed in accordance wi
= the above section of the Constitution. Al
we do not believe that our Legislature cou
te have made a law more constitutional, th
lie the one they did make. That's our opinio
n and we believe it will be the opinion Of
those who. give the law an honest, impart
'e reading.
l. The President and Cashier ofthe Harris
ID Branch made out a statement, under oal
las we'll as under protest. to the Cour
N Auditor, of the condition Of the bank in CO.
- pliance with the above Law. In that sta
ment they say
First.-The average amount Of notes and bills d
counted by said Branch Bank during the year el
ing the LIST of May, 1852
n For bills and notes discounted, S247, $3.50
~ Safety fund invested ....,... 1864, So
or ---S267, l2l
Second-The average amount