New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-04-01
OHIO.



CLEVELAND, SATURDAY.. March o, lisa
IL is the peculiar boast of the so-called De
mocrstie party that its principles everywhere he
ssme and yet the facility with which !, acoomno
date itsell 20 circumstances Is most notorious The
Democracy OF Virginia and Ohio. of Massachusetts, AL
niros for example. is in many respects as far apa As
the poles differing in principles greatly, save one the
i've loaves and two fishes
Thus, in Virginia the Democracy support the Banks
in Ohio it seeks TO destroy them in Massachusetts, il
eoalesees with Free Soism; in Illinois il esacts Ii.
Law OF Slavery.
For radical destructive LocoFocoisrn Ohio ius,ly
claims the front rank, the proceedings Of the late
Legislature upon the Bank question clearly shows tn.
facts sniecedent and presen, are as follows; During
the revuls:on Of 1886 Of the Banks Of Ohio SUI.
pended specie payments ard subsequently, were CON
PEELED 10 retire large amount OF their circulation A,
the business OF the State increased necessity wss felt
for more currency, and Banks were unabl.
10 supply the demand it began 10 dow upon us from
al Of the adjoining ard from many di-tsn, States. un-
til in 1924 four ffths Of circulation was foreign
Tskng sivsntage Of our necessities eastern swndin,
.hops like the Delaware Bridge Company. poured into
the State their traudent issues and when the proper
time cane broke leaving their worthless trssh in the
haods of thousands of our people. Thus every yea
Ohio was paying hundreds OF thousands of dollars in
the way Of interest to foreign Banks and for deprc
cated and worthless currency simply for the want Of
Banks ri home During thistime Loco Focoism backed
and hllcd tukered and retinkercd-now enacting
Bank law making stockholders liable 10 the "facst
tent-now Furnishing the emission or passing of notes
of less denomination than five doars-now proclaim
ing the hard money doc,riue-then resolving in favor
of "wcll.resulated Banks"-but all to no effect
still the evil increased until in ls4i the people took
the matter into their own hands and elected Legiss
ture which, in February, ISIS gave the Law under
which the State Banks of Ohio and the independent
Banks went into operation
From that day 10 this own Banks have furnished
the State sound currency, convertible ANY moment
and safe in any mans pecket
The paper of one or two branches which became EN-
barrassed has been promptly taken up by the other
branches without dollars loss to any one Thus per
forming the duties Of well regulated Banks, might
naturally be supposed that the spteful enmy Of even
Ohio Loco Focoism would be eayed but, on the COZ.
trary. that party has INCREASINGLY waged against them
war tending to their utter determination.
BY the original charter il provided that each
Bank should semi annually "set of to the State ak per
'centum on the profits, deducting therefrom the
pepses and ascerained Losses of the Company for the
six months next preceding. which sum amount 80
sc, oil shall be in lieu OF oil taxes to which such Com
psny or the Stockholders thereof account of stock
owned therein would otherwise be subject"
Under this provision to taxes the Banks went into
operation relying upon the good faith OF the State
well as upon the oft settled legal principle, that lar
ger sum would or could be demanded, duriag the
tinuance OF the charter
But Legislature has been found thai sets at nought
all idea of good fath and Supreme Court has arisen
that so far panders the base feelings OF the Rsdica
as to sustain the Legislature and override the decision
of the Supreme Court of the United States.
In April, lsJ2 law was passed taxing the Banks up
on their notes and bills discounted and upon all mon.
eys effects and dues Of every description, belonging
to them spperaining to their business. Thus the
capital stock is taxed twice or three times over, and
pays thrice the tax that TIA same sum invested In lands
or other property pays.
This law, so terry subyersive of the provisions OF
the charter has been sustained by Locooco Supreme
Court The question goes the u 8. Supreme Court
who cannot Ispprehend far stutly ITSELF overrue
Ia. owl d...ian. da.ia. .h-s a~sh Charter
Is a contrsc, and that law can subsequently be
passed mpairng its validity.
In the meantime and until the question is thus finally
decided the banks have refused to pay this illegal tar,
which refusal has given rise 10 what Is known a. the
Grow bar law" law which violates every principle
of liberty and which must ultimately react upon its
authors with tremendous power.
Thislaw passed March IA, 1853, provides that 81 the
Treasurer upon five days notice and refusal 70 pay
the Tax may enter the Bank and shall have pow@
TO break and open any outer inner door window
or enclosure. and any vault safe, chest, box, dess.
drawer other depository. after verbal demand o.
entrance made and refusal neglect forthwith 10
open the same.
Upon thus breaking in ne is TO seize sufficient gold,
silver bullion, bank bills 81 to pay the tax, remove
the same and ell at public auction at ten days notice
For his services in thus playing the mobocrat, hebto
receive in all ten per cent upon the amount OF taxe
which he Is also to seize and put into his own pocket
If the Bank procures Injunction, summary mo
ton to ds,ove is shall be heard and the motion be
refused. the Treasurer appeal but II the motion
be granted the Bank cann0 appeal.
Such few Of the features of this strange exact
ent By virtue Of it the vaults Of the Banks Of this
City have this day been entered and robbed according
to law.
Our citizens are greatly ncensed but no forcibs
resistance has been made But the {" end 10 no, yet
The Loco foco party OF Ohio are heaping up wrath
against the day Of wrath IL will surely come, and
that at no very distant day BUckEyE.
Seizure Of Bank Taxes.