Spirit of the times. [volume] (Ironton, Ohio) 1853-1858, 1854-10-31

| Plbnneu FPecutdtlons WiscdtIy-WHolo
airy castle OF credit is suddenly over.
turned, burying hundreds Of industrious
nee chanics and laborcrs in its ruins
such man would once have been cx.
ecrsted he is now pi,ied while our
contempt and censure are transferred 10
those who are the victims Of his froud(ul
sch ONES. 1 ,f
For its political effect, not less than
moral, our banking system deserves 4
be opposed. 1t is essentially an oristd
cratic institution. 1t bands the wealthy
together, holds out TO them commob
motive, animates them with o common
sentiment, and initiates their vanity with
notions Of superior power and greatness.
The banking system is maintained dpt
Of the hard earnings Of the poor nid
its operation is 10 degrade them in thir
political rights, as much as they are De-
graded in q pecuniary respect, by the &C.
cident Of fortune. Its tendency is 10
give exclusive political, as we'll as ex'
elusive money privileges to the rich;-
1t is in direct opposition to the spirit Of
our constitution, and the genius OF the
people. 1, is silently, but rapidly, un'
dermining our institutions il falsliies
our grand boast Of political equality !:
|
it is building up privileged ORDER who
at no distant day, unless the whole sys'
tenn be changed, will rise in triumph on
the ruins Of democracy.
Even now, how completely we are
m monopoly governed how completely
we are hemmed in on every side. how
we are csbn'd, cribb'd, confined by ex.
elusive privileges |! Not road can be
op ened, not bridge can be built, no,
a cansl can be dug, bu, charter OF ex.
elusive privileges must be granted for
The purpose. The sum and substance OF
our whole legislation is the granting OF
monopoles. The bargaining and truck
ing away chartered privileges is the
whole business Of our law makers. The
people Of this great State soudly imas'
inc that they govern Il emsesss but they
do not They are led about by the u
seen but strong bands of chartered cor
; poraticns. They are fastened py the nj
mute bu! eEectca. letters of banking IN
stitutons. They are governed oy bans
directoS, bank stockholders, AMI 1dnA
minions. They are under the inaGeccs
of power whose nana IS LsGion-;aeg
are under the infuence OF hank nolo9-
olies, with / host Of assc cia,s and SUE
ordinate agents, the ether incorporated
: com mpanies, depending On hank assist
ance fol thei: mean: ctoPet1'ion- These
evil influences gre scattsted iLccc-1cg
our commGuity. ia every cuaft=r q ID:
State. They give tone to cur mse:iH=s
9 they name our candidates lor The lesis.a
ture, they secure their election, they con
= troll them when elected.
= What then is the remedy for the evil
5 Do away with our bad bank system re
j. peal our unjust, unsalutary. undemocfat
II ic restraining law +; and establish in III
= stead, some law, the sole object Of which
e shall be to provide the community will
'r security against fraud. We hope, in
It deed, to see the day, when banking like
h any other mercantile pursuit, will be LEI
d 10 regulate ITSELF when the principle:
e of free trade will be perceived to have a.
!. much relation 10 currency as 10 com
1t merce when the maxim Of Let us alon
y will be acknowledged to be better, infin
r. itely better, than all this political quack
10 cry Of ignorant legisla ators, instisa,ed b
'e the grasping, monopolizins spirit OF ra
: pacious capitalists. This country, W
n' hope, we trust, is destined to prove
ID mankind the truth Of the saying tina, tn
X ,oorld is gouerned too much, and TO prov
OF it by her own successful experiment
Sc throwing off the clogs and fetters wit
~ which craft and cunning have eve, col
s. trived to hold lhe mass Of men.
IT., Il
rst But much as we desire to see Il
Elk wretched, insecure, and, in polite
OF point OF view, dangerous banking sy
n. tenn superseded by the more honest al
an equal plan we have suggested, we wo
n. by no means be considered as the adv
a Gates Of sudden or capricious chang
n. All reformations Of the currency-s
n legislation, the tendency Of which is
n, disturb the relations OF value, should
n. slow, we'll considered, and gradual.
re this has,y and unprecedented artic
ey wo have glanced at the system which
,e. desire may ere long take the place
so thelpresent one, and have rapidly adv
es. ted to some Of the reasons which re
in der the change desirable.
is
ia TERRIBLE TIMES IN TEXAS.
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