M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1855-05-11

togues alike,
Those who chance to ea,ivid rec
objection Of the state Of society in The
United States during the universal sus.
pension of specie payments BY the banks
need not be reminded Of the depiorable
deteroraion Of morals then exhibited.
from the highest to the lowest classes
OF the community. All confidence was
destroyed, every man went forth in the
srmor, Of suspicion; il was diamond cut
diamond; the neighbor palmed his
worthless paper money on his neighbot.
and quieted his concience with the sali
vo that, having been taken in himself,
he had a right 10 take in Others; and,
finally. Congress, by one sweeping sr
post GOeto &C; Of bankruptcy. passed in
the very teeth Of the constitution, and
which made no distinction, and which
between honest and fraudulent debtors,
ut once pIostrated all the barriers Of Sc
curity 10 creditors, and gave un6Uunded
license to fraud and deception All
must have seen that since that 6isas-
trous period, the max'ms and morals OF
that trade have become far more loose, II
not actually licenlious; and that what
less than half century ago was called
Swindling. is now scftened down into
"speculatioD." 1t may in fact be said,
with perfect truth, that an invaTisble
standard OF value in that money which
is the sole medium for supplying all our
wants ard gratifying all our appelites,
which is the great master spring that
gives motion 10 the clock work of the
world, is next akin to an invuriable
standard of moral principles in regula
ting the action.and enterconrse oi man
kind, Any great shock given 10 enc is
sure to strike 10 the very heart OF the
other, by increasing temptations to dis
honesty and fraud. Such are few Of
the fruits that spring up from the great
modern root Of all evil.
But it may be said he is but a quack
doctor who eau only tell the disease OF
OF the patient without being able TO ad
minester remedy. This is certainly
true. and equally true that there are
times when evils arrive at such o stu
pendous magnitude that they can only
cue themse,ves-:n other words, be
remedied BY bitter experience of their
consequences. We beieve-shall we
say we hopeH-Ihat time is near al hand
We have gone the rounds of the entire
system, are now trying the last expert.
ment--that of free blnking, as i.is cal
led. Free enough. Heaven knows sinre
il may be said TO afford unbounded Op.
portunity, unbounded license, and al
most irrestible temptation TO all sorts OF
swindIing aud imposition. II this fails
we know Of no resourse but that lately
spopted BY the Legislature Of Indiana
namely, converting all the banks into
pawn. brokers' shops. and exchanging
their rags for all sorts Of haberdsshery.
This will be, indeed, the millennium ol
banking. What a glorious time il will
be when man can pawn his old frying
pan for discount, or a good house wife
barter her second hand petticoat, for d
handful of promises 10 pay Ii will be
fair exchange, and no robbery. Who
knows but they may be able TO apply
the system Of pawn.broking to ladies'
hearts and mems cUnscisnces, and dis.
count ;hem at a rate greatly below paT?-
But whether or not from the experience
lately had Of bank directors, bank cash.
iers, and bank tellers, we have no
doubt many Of them will make first rate
pawn brokers from having been so long
cOnyersant in old rags and all those sec
ond hand articles that come under the
denomination of "wear and tear con-
sciences" II tseems somewhat Surpris.
ing that the'egislatures of MasSOchu.
setts and New York-haviug lately been
dipped in the river Styx, and become in
vulnerable to common sense common
law, constitutional principles, and q II
that sort OF onsense-hsve not adopted
this last and crowning improvement in
banking. But people cannot do every
thing at once; and we do not doubt in
she least that il you only give the en-
lightened whig.a boIition Temperance.
spiritual.knocking knowuot othing fusion
lists iOir play, they will not only per
feet the system Of banking ard every
thing else, but set both the North river
and Boston bay on fire. and run away by
the light Of them.