American Lancaster gazette. [volume] (Lancaster, Ohio) 1855-1860, 1856-01-17
ESTABLISHED IN 1898


mos; needed for he produce and PROVISION
business Of the count y. aggrayetes their
ezactions. AT all esenis. the most stril-
gent laws should be passed against the pri-
va e use Of tie revenues Of The State which
no well organized Government will permit
for a moment. .,.s
Several Of tho appesl cases in reference
to the question Of tank taxation are pend:
ing before tLe Supreme Court Of the Unit
ed States. have no oficiah. information
as TO the time when final decision may
be expecte'. 6;
Two cases, the Piqua Branch Bank, vs.
the Treasurer Of Miami county, and the
Ohio Life Insurance and Trust Company.
VS.. the Treasurer Of Hamilton county, in
volving the right of the State 10 tax banks.
were tried in The Supreme Court Of the
United States, a; the May term. 1854
George Z. Pugh and r. P. Spslding, ap-
pearing as counsel onthe part Of the State.
The decision was against the State in the
first case, and for it in the second. q The
Court was not unanimous in either decis7
ion. The cases are both reported ct length
in the l6.h volume Of Howsrd's Report.
/ canno, disguise the humiliation 1 feel
at seeing the sovereign STATE Of Ohio ar
raigned and placed on trial before that tri-
bunal BY certain corporations within her
own boundaries, because, lin an hour OF
misplaced confidence, she bestowed upon
them undue privileges and exempions.--
She has violated no contract with these
corporations. while they have scarcely
made an effort 10 accomplish the purposes
for which they were created. Instead Of
furnishing currency equal to, and re-
deemsble 10 specie, they have too frequent
ly fooled tie country with deprecated
bills.
The taxes on the people Of the State have
been neafiy trebled since these institutions
were established. They have borne the ex-
penseS Of an extensive end costly sJ stem Of in1
ternal improvement. Avenues Of commerce, Of
industry, Of trade, have been opened in every
part o! the State, and while these banking
| corporations arc the greatest bsne6ciaries fr9m
these several enterprises, they refuse to share
with the people the heavy burdens which have
/ been thereby occasioned.
! They defy alike the force Of public opin on,
the determination Of the Constitutional Con-
I veniiOn, the laws Of The State, and the decision
of our highest judiciaLsirbunal; and persist in
claiming that il taxed at all. it must be by n
different rule from that Of indiyiduals-on theig
/ profits only, and not on the value Of theit ptop1
D., erly. Ten millions Of property dictates 10 q
duplicate Of eigh. hundred and fifty millionsl
Under these circumstances cannot do other.
wise than recommend ar unyielding adherence
10 the just and bonest principle Of equal taxa.
H.! ton. ,- go.
Banking privileges still more extensive, am
told, are 10 be askeu at your hands during the.
present Session. 1t is source Of some gTatif-
cation, however, TO know that the present Con-
Stitutlon opposes an insuperable barrier 20 tho
Tax exemptions that we've formerly so unwisely
and inr0n sderaiely granted. .,
I report Of the special agent appointed in
1854 10y the Auditor and Secretary Of Stale. to
examine into the condition Of the Rree and In
: dependent Banks cfthe Stale, viii be laid upon
yJur tables. Il abounds in information, and
contains many useful and practical suggestions
IN relation TO tie evils Of the System at present
pursued, and The supposed appropriate rene-
dies. The subject Of banking has occupied a
large share of public attention for years, as
these inS;itu ions, in enterrg tbe halls OF iegS1
Iati"n and asking for privileges .denisd to the
individual Inemberj Of community. have suc1
ceedsd. whether Intentionally o; otherwise, IN
giving to 1t political bearing:... .
81 great Is the power which the authority to
, issue ana cifeuale notes as money cURIels over
> the commercial and other .bgsntas- @latjons of
life, that the necessii OF PToteeliHgthe people
r fsUm probable injury and loss, has always been
, fell and acknowledged; and hence We find the
General Assembly at slmost every SESSION at
, tempting TO regulate the cpueacy with how
much success is known 10 every one. Il,
; The experiment is 10 be tried again, but ths
, opinion is fast obtaining ground that neither
, Commerce nor credit is benefited by legislative
int ference. ... 49,.
The amount and con lItion Of our State La
biliiIes may be obtained from the following
table: