The Ohio union. [volume] (Ashland, Ohio) 1849-1854, 1853-11-23
BANKS ANN BANKERS.

This Government can justly boast, over
ali other nations, of superior advantages Civ
en- TO her people, Of all classes; but it is a
humiliating fact that there are a few evils
with which we are cursed, anc sanctioned
by law, that other ENTHUSIASTICALLY the
laboring and agricultural class-may thank
their God they arc'not afflicted with. We
mean the present Banking system in tho
United States, and the Shylocks who con
due, il. Other nations have a few Banks
and their people are subject TO more com
mercial Neutrality-suspicious. per Sc
and YET not the ,housandth part Ct the mis-
cry is suffered by them, that we are com
PEELED TO endure every Ten or twelve years.
Many of the Governments Of the old world
have no paper circula lion whatever, and 1t
never has been claimed by any person, that
there was a want of a circulating medium ;
but, on the contrary, ii is more plenty, and
wages higher, in some places, than in this
country
Well do we reculleci, when the Banking
aw of New York went into operation, OF
L.~earing it claimed by the friends of bank
ing, tia, now there was law framed, thai
would absolutely prevent them from break
ing. A few years have rolled by. about
ciyht or Ten. and the news of their break
ing is beginning 10 rome lliirk and last.
The present banking system in Ohio, will
expire in twelve or thirteen years. The
Banks are good at present, and will prob
ably continue 50 for four or FIVE years, and
then fulfill their usual destiny, BY breaking.
These cormoranls, who neither toll Eor
spin" not content with eniaiii"g misery
upon a portion Of lheir fellow beings, yet
insist upon being exempted from liabilities
10 which farmers and manufacturers, labor
crs and merchants, are subjected. Can IL,
will itbe claimed, that banking is better for
lie interests Of a people than agriculture
labor, and other honorable pursuits of lie
The breaking of Binks has become a thing
of so frequent occurrence, that those who
lose nothing, regard it as a part Of the
banking system. Liule is ihnnghi of The
gloom, misery and wre,chedness, that il
brings upon thousands OF families. There
can only be one necessity for Banks OF
'ny description, aud that is for the purpose
pf speculation; it is this mania for spec
, ulalion ll,at produces an unsound credit
system, and, as a consequent, those who
float on this bubble, experience the cad re-
verses Of fortune, sooner or later. For the
lime being, business men may make mon.
~ but the moment a panic takes place,
they then find they are not equal 10 the
emergency.
In view Of the manner in which Banks
nrc conducted every where, we cannot sec
why VIC should he forever afflicted with
them. 1t is worse than folly, to our mind,
to talk about or try to frame a law by hu.
man hands, to prevent them from breaking,
Past experience, sad and bitter, has given
us this fact. And yet there ran be no rea'
son why a Bank should break. Can asy
sensible man tell US why they SHOULD
freak There can be none given. !
then, this is the fact, for one, VIC raise on
voice and demand Of The Legislature to pas
n law that If any bank breaks, all connec
ted with il shall be treated as other robbers
and tried accordingly.
There is no slate in the Union that hai
suffered more, heretofore, from expansion
and contraction, than Ohio. Herresource
now, however, are becoming almost equa
10 any crisis tina, may be brought upon lh'
country, and when Banks of issue relus,
TO disgorge, her Banks of earth steadily
Weld their haryests 10 all who are willin!
10 labor,
nEEru oP WIN. ruERTON.