The weekly Lancaster gazette. (Lancaster, Ohio) 1852-1855, 1854-11-09
Monetary Panic.

oepenoent BANKS OF Indiana have cast
commercial gloom over the whole country,
and subjected hundreds softhousands among
the poorer classes, to losses, inconveniences
and abject poverty and misery--and
have demonstrated, beyond the shadow of
doubt, that our whole Banking system is
not only wrong but ruinous to the great
and vital interests Of the country, and not
at all adapted to the genius and wants OF
our people. As longas Banking has re-
spect 10 the resources Of the country and
the enterprise of our people, and is con-
Quoted upon well established and per-
fectly sound basis, then Banking Is a.bcn-
efitto the country and acOnvenience toher
peoples. but otherwise, and under our
present system il is one ofthe greatest cur
ses that could befall nation. If our
country has greater resources than she has
means to develop. it then becomes abso-
lutely necessary to increase the cireulst-
ing medium. How can this fairly and
prudently be done Why thus:--Here is
u real estate worth at any time one hundred
thousand doliars--and here are ten thou
'saHd dollars in gold and silper, Now put
these ono hundred and ten thousand dollars
together. under statute regulations, as a
capital held liable for the debts of Its trus.
tees in their corporate capacity, and give
them leave to issue on this basis Of one han
fdred and ten thousand dollars not more than
thirty thousand dollars of a paper currency,
for which this capital is held exclusively
liable. If the trust is honestly administer
Ncd-and the penalty of fraud should be i'm
prisonnsent in the Penitentiary for tys-the
security is ample and the bill holders and
public perfectly safe. In case of suspen-
sion, the capital is three to one ofthe claims
against it.
Our present system Of Banking, how
'over, we are extremely sorry to say, is
founded on an entirely different principle
principle Of financial rottcnness, and is
no more nor less than logalized fraud and
the curse of honest labor. Entertaining
these views. we would be untrue to our
position as public journalistic if we failed
iAgiying them htterahce. This is alike
true of the free Banks in our own State,
and just so soon as public confidence is
materially impaired, just SO soon will they
go the way of the Indiana Banks and all
other rotten institutions of like character,
and leave the laboring, honest and deluded
masses in possession Of hundreds Of thou
sands of worthless promises to pay. II
bills to only one Adyf the amount Of then
Indebtedness should be presented at theii
counters it would be utterly impossible fol
them to redeem them, Stocks pledged a:
security for the bills issued by these Banks
are nothing more nor less than an evidence
ofthe public indebtedness of the State. and
thus the Nations poverty is the basis Of al
these te.tcn issues now flooding and ours
ing the country,
1t is no use for the old Wing party t
charge this system of Bank fraud and cor
'ruption upon the old Democratic party, no
isit any use for tho old Democratic party
aocharge j, upon the old Wing party, a
both of them are parties interested and ar
alike culpabic--for while we see Whis
,S.o ,;,L n;c 49,, = o,I ,,,o =; II
tancously hear groans coming up iron
DENocRAr1c Indiana from the same publ
calamity. The fact is we need new par
ay--aparty that will act with the peopl
and for the peoples good-a party tina
will regulate the financial and other inter
ests ofthe country and bring it back 10 it
original purity and prosperity. AVA
with your vaunted and lying declaration
that it is Whlg move and chargeable t
tho Wing party-fOr the groans that ar
now reaching our ears from DEMocRATr
Indiana brand you as, hypocrites an
knaves. Away with your lying charge
that it is Democratic move, for like effect
are felt in Wing States.
Give us the AMERICAN PARTY-a part
madeiu up of the rank and flea party ths
bears notthe taint of political corruptio
uponits snow white robes-a party ths
win administer and enact the laws Of ou
country for our country's good. This
what our country needs, and this is Whit
our country win have.
INcESprARY ATTEMPT WITH Sun glass
The San Jose (Cal.) Telegraph state
that some one, with the design of destro,
ing by fire Mr.. John Connoy's grain, r'
sorted to the following scheme. The vi
lain got piece Of shipgle. six inches long
in the centre of which he fastened sma
upright stick, about eight inches ibng, an
On. the top of the stick sun glass WI
placed. So arranged he put the instr
ment among the dry grass and grain. @