The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1854-12-01
ns RknlrI aId Banker.

q Arg pllr MY fu'ig 70 the people, were
70 How he -pIt ent excitements and
Jisiies ID niohetar3 matters to pass With
out some word Of advice or Ieproof.
The party with which Ha sand connec,
ted has ever. in Ohio AZ least, been sound
OnsiIlA shrrahtyq qnesti1n. M . have new
er been able to see the necessity Of Acts Of
private incorporation; not being able to
see why partieswho deaIip money tomakeF
gain out Of it; should net he held persons
ailg and ioecpniarily liable 70 those with
whom they deal to as full an extent as are
parties say y u IA GAy othst saAess Rur-
suit,
Tie common people are wofully igneg-
ant On this point and new tilata esNS know
where they may safely repose confidence,
j proper tins has arrived for Information
10 be disseminated. How often it is the
case that esfeW enterpising business men
combine their efforts, means and manage
ment, in tie establishmentof bank. They
adopt some name it may be, Che Z gLancas- !.
ter Bank = the Exchange Bank, Or the
Savings Institute. BY whatever name
adpp.ed The institution poppIarly known
Nowiu feposihg confidence II such an NJ
stitution- in. going into its Office and pcre
leaving their money, BY auhat foasidera-
hons are nine -teflths Of its customers noy-
Ied? You meet one such, .jnst after he
has made his deposit, and he will proudly
show you his certificate and recount the
|superabundant security he thinks he has
for, the return Of his money and interest.
Why, has he not Messrs.A. and 3. and g
Bel and are they not all gentlemen Of
proud, positions IN point of responsibility
aud cstatesS Poor deluded man, he has
! yetto learn That these gentlemen he names,
and who Individually and collectively are
worthy Of all the, high commendations he
passed upon them, are engaged an trade
Under tie protection efa Charter, and are
not, therefore liable TO- him for a .farthiag
evel though the Bank should break and
It's rotten assets should fail to pay him
shilling On the hundred dollars Of his de-
posits Such system Of banking in our
Opinion, is about as one sided as the boys
mode ofrafing- ng-r-a Heads Trims, tails you
ss{ose." 1nall commonhonesty why should
the men who borrows our money % bank
be less liable, personally, for itsrepayment
than the man who borrows it TO merchan-
adise or buy land, or invest itiin any other
business transaction? How often do We
sec the customers Of such institutions, by
defalcations and failures over which they
lhaye no CONTROL reduced TO begggary,
whilst, at the same time, the very chief Of
theIproprietors rolls in wealth and lives in
lluxuryl The latter had only invested q
small part oflhis spare change in the bank
and tEen having but "a small amount at
stake he launched out boldly upon has
ldepositor's money! into every sort Of wild
and dangerous speculation, hoping that by
some fortunate stroke Of policy, bis insti-
tuition might make a niillion-well know
ing, at the same time, thatif worst came
to- worst, he, would not be ruined-he,
had his nice private fortune to fall back
lupen--de, was protected by the depRs
ippeatioa--a charter, and WAS not, there
fore, individually liable tarsss,
the, absence aof individual liability on
the epart& proprieters Of banks, is pfodai-
tive Of anotl, ,cr evil! one ofwhich the his
, tory of all banks gives us frequent illustra-
4 tons, It's this ;ftheyttoo often trust tho
management Of theirinstitutions to bad and
dangerous hands; and too eften men who
need to be-, and actually are the largest
borowers,,ha almost unlimited sway -
Wha1 minitiated individual has any o:her
! idea of a bankuthan that it is a place at
/ which moueyiis issued, deposited, and OBJ
, (tained on load B? And who, but the man
Iagers, are thealeaders? this same party
! would inquire. Unfortunately, just the
! reverse of this is truesin nine cases out Of
!, ten, Let the provisions of their charters
be what theyimay, byghook or by crook,
: when little dayGghtIis thrown into one OF
J, these dark and secret recesses, those who
had been looked upon as the chief lenders,
i turn out to be the monopolising borrowers
I and as such, the snperinducing cause
Of embarrassment and ruin to the best in
, terest of the institution fover which they
4 have presided. Now, do you make all the
! stockholders liable,and wonld they choose
4 tsuch officers and agents?s Make all the
!, directors personally Liable, and would they
Z Iso yield the reins of entire government tc
tsueh handsa If you will have Banks, We
say, letsthe good old Democratic doctrine
\ ofindividual liability prevail, and let nc
+ man be trusted as an o6icer,with the mon
. ley of his confding customer unless, as {
! man, he is liable FORTS repayment. Ohit
Eagie.f e}tti atoH
...1 US BANK AND TARIFF. The Cincin
!. matt Gazette has broken ground in favor 0
= la United States Bank and q High Protec
!. : tive Tariff The whig press, generally, i
|, 4 asserting to it. Already have they em
Z barked in arerusade that's designed to re
y ,ytttard emigration inathis country. Men Q
= : sense and Intelligence wereledto to believ
y ! that the treaty made by our government
through ,ConnodoreiP Perry, thegovern
y y ment ofJapan wassubserving the interest
4 Iof Commerce and thecallse of Civilization
y They must have been mistaken. Cali hom