Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1855-03-21

I busi-
ness, and cannot be under Our present banking
| system.
| any considerable addition to the present
| banking capital, or to the number of bank.
would be an evil much and long to be deplor-
| ed. The many don't want them-the 'few' do.
But these few are active and busy. and pur-
| sue their object with untirng energy. The
Legislature is beseiged year after year by paid
or interested bank borers.' With this out
side pressure, ,aided by the log rolling system
Of sshelp me get my bank and s.I'li help you
get yours" the danger is imminent and great.
We may have rag money mandatory in ev-
| cry town, village and hamlet in the State and
cities might count them by dozens. But there
| is-ene remedy, and we hope it may not fail us
| IN time of need; that remedy is the refo power
| The Governor will prove recreant to his duty
| if he fails to exercise that constitutional pre-
rogative. He should set his face like flint,
against this iniquity. If he does sign batch
of these bank Charters nc might as we'll sign
his own political death warrant. He would be
called by the people to give account of his
Stewardship The sentence would be esthou
art weighed in balance and found wanting -
| hope for better things short time will de-
termine whether that hope is well founded or
not.
On principle I am opposed to the whole
system, and believe that we have too many
banks already, and that the number should be
lesSened rether than increased. No bank note
should be issued under ten dollars, and better
still if none under twenty dollars. But a law
of this kind at present would not. or could not
! be enforced, because notes of smaller de-
nomination issued by the banks of other States
would be forced into circulation here as is
now the case in some parts of the State not
Withstanding the present small note law.
The plan conceived by the Hon. Thomas H.
Benton would if carried ont lat once put a stop
to any further issue of small notes. He adyo-
Gates the passage of law by Congress fixing
stamp duty on every piece of paper intend
ed TO be issued as a bank note of small denom-
ination. The smaller the note, the higher the
tax.
Mr.. Benton does and says some very good
things, and is more often right than wrong
He is reported as having recently said: ssIf 1
were President of the United States sir, |
would keep beside me pile of blank vetoes,
and as fast as the plundering bills passed Con-
gresS l would send in veto veto (! veto!!!
sir, send in yeto.'' And here sSOld Bulion''
is ri ght. | think Gov. Pollock should have
his pile ready and veto veto /! veto -! every
snew bank bin that passes the Legislature Gre
gardlesS Of denunciation from any quarter"
have seen the Card published in both the
C!earileld papers Ill favor of q bank at that
place. The signers to the card call them
solves democrats Well might We eXciaim
How are the mighty fallen How is it that the
s'great democratic party''-which has always
heretofore claimed 70 have been the uncom-
promising foe Of banks, has thus been brought
to bow down at the foct stool of Marnmon?-
Je-ru-Sa-lcm what will Ex-Governor Bigler say
when he sees that sFCard?'' Wonder if they
could get his signature
The Wing party has been heretofore stigma
tiZcd as the bank party 'Whiggery' and
banking were considered Synonymous, and
so unpopular was the name that when Mr..
BANKS ran for Governor in 1871, he couldn't
touch bottom. On the eve Of that and other
lnla 4. .,F- II 70
sheba,'' that all the sins of al the HANKS, from
the United States bank down to the little sha-
wing shop, were CHARGE tble to this party The
whig party made the ssc3pc goat to bear
these sins-n0t '-into the Wilderness but TO
the end that their opponents might ride into
power on this hobby Ii answered the pur-
pose, for it was known, thcn-as now, that
laIg ge majority of the people were and are op-
posed to these exclusive banking privileges.
But the sgners to tie card doubtless had
reason for designating the political party TO
which they belonged. They may have suppo-
sed it would serve to prevent any opposition
as coming from democrats in the Legislature,
and that the Wings in that body would go for
the bill because il was their nature, they
couldn't help it; that it would go through with
rush, and that q s'bank Whig' Governor
would sign it.
Now be it understood that am not opposed
to bank TO be located in the Borough of
Clearfield, any more than am to one at Lock
haven, or anywhere else. / am against all
alike, and if Charter is granted for bank in
Clearfeld, the friends Of each and every par
ticular bank that is asked for would claim the
same privilege, because they will ali say that
bank is s'indispensably necessary to the
business community where such bank is TO be
located. Would it not be wiser and better on
the part of the people of Clearfield to do with
out their bank even if they could get it, than
that they should by their example and infu-
ence encourage and promote the passage Of all
the bank bills that may como up before the
Legislature, and thus infiict the country
most grievouS ana irrepairabe injury.
In that portion of the Governors inaugural
which treats of currency and banks We have
the following e y or will | refuse to sanction
the incorporation of new banks when indis-
pensably necessary and clearly demanded by
the actual business wants and interests of the
community in which they may be located.''-
From this it is inferred that the Governor will
not, or cannot consistently refuse to sign
Charters for sSnew banks, ;" and the language
used may have afforded some ground for the
inference. But if none of these banks are
'sindispensably necessary"-if the f'interests
of the community would be best protected
by Withholding the Executive sanction, then
there would be no Inconsistency IN such refu-
sal, because the contingency under which the
Governor might consent would not have ia
ken place.
Now insist that banks not ''indispen-
sably necessary and that the ssinterests of the
business community do not require any ad-
dition to the number of banks we already
have If this position is correct then the
Governor does not stand uncommitted. He
is pledged to withhold the Executive consent
from one and all of these esnew bank'' bills
and the people will expect the pledge to be
redeemed. a TRUE ssDEMocRAr."
Curwensvlle, March Is, 1855.