Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1853-01-05
1HH PORTAGE SENTINEL, N !,
RAVENNA A OHIO.
WEDNESDAY. JANUAFsY S. 1883.

WEDNESDAY. JANUARY S. 1853.
STATE CoNvE.TIoN.-The Democrats State
Coavention meets in Columbus on Saturday next
@ nominate candidates for State Offices. We
hope the proceedings of the Convention will be
conducted;in harmony and that ticket, compos-
ed of the best men in the State will be put in
nomination.
The wings are hoping to see the party divided
and distracted in its councils and it is upon such
aresult alone that they have.left single ray OF
a-sS hope To this end they have been striving for
long time to create eelousies and discord in our
ranks. We trust the Convention will so act as
to disappoiht their hopes. Whatever individual
- preferences may exist, and whatever personal an
r. imosity, when the Convention shall have acted,
we believe every Democrat will yield his cordial
and hearty support to the choice they shall have
made, and thusssgAow te csr opponents that the
Democracy arsflfly capable of managing their
own affairs, and that in event will they permit
y the Government 70 pass into the hands Of party
shat hes employed it to the base purpose of build
ing up privileged qrder in oarsmidst>aKd pf max
<sing the people subservient to the money powef.
.THE wfF.rnE BANKS WIND UP.-Afoet the
:" time Of the passage of the, Tax Law, reaaRing
the Banks to be taxed equally with the people,
the Sympathy Of the whig politicians and editors
8 was deeply excited. and they were filled with
.the most glasug fears that the Banks would be
scomnsffed to call in their circulation and shut up
sh6ps, and thus overwhelm the State in s'ruin.''
When one or two of the Banks did actually return
some small part of their greasy rags the whig
papers exultngfy pointed to the circumstance as
an evidence of the runous effects of the tax law;
sand claimed that all the other banks would be
compelled to adopt the same course, and the peo-
plewoud be left entirely destitute of that beauti-
ssauI shome currency which these banks would
furnish them, but for the operations Of the tax
tsaaw. This was scare got up by the bankers
eanlsthe wings to frighten the people into compl-
ance with the demands of the rag barons. But it
failed to produce such a result. The people could
not understand why the Banks, while they were
declaring from Is to a per cent. dividends, should
ebe compelled to suspend business because they
were taxed as other property. And how have the
dire prsgnostics been realized? Have the Banks
withdrawn their circulation and wound up their
business! While they and their whig protectors
were endeavoring to alarm the people, were the
Banks taking any steps towards carrying their
threats into executiona No, not bt3of it. You
couldn't catch them surrendering up the power
of creating and controlling the currency of the
State and filing their Golfers with the substance
wrung from the hand of toll. You didn't catch
them surrendering the power given them by whig
1egislation,of making from Is to "A per cent.
withoutlabor and without adding one farthing to
hssaetuaI wealth of the country.
e On the 25th ult., Mr.. Morgan, Auditor of State,
in compliance with resolution of the Senate,
submitted report to that body, showing, from the
sworn reports of the Branches of the State Bank
Ohio, that the increase in their notes in circu-
luton, from the first Monday in May to the first
Monday in November, 1862, amounted to $467,-
45I,whiie the decrease in the same period amount
ed to only $1s5,o81; showing net increase of
$282, $40 with the Branches Of the State Bank
alone Another report from the same officer,
made to the House of Representatives, in compli-
a1ice with resolution of that body, shows there
have been issued to the State Stock Banks, on
their application, the sum of $25o,s53, while only
1872 have been returned; showing the amount
issued over and above the amount returned to be
$25s,9s1 :.
Thus, while the Banks were threatening to call
in their circulation and wind up business, and
thus bring about panic, all on account of the
tax law, they have increased their circulation in
the sum Of $54l ISL. These threats of winding
up, are the appliances which the rag barons en-
ploy to frighten the people into compliance with
their unjust demands, to continue to them the un-
equal and unjust privileges they have long held
"Wind up!" well let them. s.'Tis consumma-
ton deyoutly to be wished for,'' but we hope they
will do it in different way from what they have
commenced since the tax law went into operation
County nemacratic Cnnxrenfion