Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1856-02-14

VII ~ -
then, throughout the State, lend us
a helping hand !? Let every man
who receives a copy of our Prospec-
tus, consider himself specially APP
pointed to actin our behalf; and we
hope each one will take such an i'm
terest i'm the matter az to induce him
to work with energy and PromPtness.
Tho Democracy of Indiana and their
Position in Reference to Banks
The Sentinel and it's Views on the
Subject of Banks.
A question seems to have arisen IN the
Democratic ranks as to what is the truo and
/ proper position Of the Democratic party in
uference to the subject Of banks and bank
ng. A question of such importance and
magnitude is not easily answered in such
manner as to be satisfactory to all classes OF
the community. The State Convention, on
the Sth Of January, at a late hour Of its pro
ceedines, adopted without discussion, a reso-
luton offered by Judge Lowry. of Elkhart,
declaring that the Democracy of Indiana, as
represented in that Convention, were opposed
to banking and all other chartered monopo-
lies, and disclaiming all responsibility for the
passage of the new State Bank bill. This
resolution was introduced as the individual
feeling and opinion of its author, and late in
the evening, it passed, without investigation,
discussion or much consideration. 1t was
certainly untrue in some of its parts and de-
clarations. The Democratic party could not
tuthfully 'disclaim" 'aH" responsibility for
its passage, II, as a party, it held itself RESPONSE
BILE for the Individual opinions and votes Of
its members. Some few democrats supported
and voted for the Bank charter, and they,
no doubt, thought they had a right to do so,
withoak violating any of the cardinal princi-
les % Che Democratic creed. A mans opin-
lon upon banks has never been a test Of his
democracy, and we hope never will be made
one. We have known the most orthodox
democrats to differ as to the policy and expe-
diency of establishing banks aud We have
ever thought that all ssch questions shoull
be determined as business matters should he,
by the condition Of the times, and the nc
c~essities Of trade and commerce. The pres
ert State Bank charter was passed by men OF
all political parties, without reference ovcr
10 party lines. The charter of the old State
Bank was about to expire, and it became :
question whether another one should bc
chartered. The circulating medium of the
country was too small for the business of che
people, aud If the State Bank was to b,
crushed out, at least four millions f Olr uvr
state currency must have been withdraw
from the already limited supply.
Since the days of the difficulties OF tho De
mocracy with the old Bank of the Unitet
{ States, it has been principle Of the Democ
: racy to look upon all hanks with suspicion
and to place such restraints upon them as Il
prevent them from exercising a political in
iuenee in Government 1t was the attempt
OF the MANAGERS Of the old United State
Bank to control the political action and polio,
of the UnitedSta ties Government that arous
ed the patriotic Indignation Of Gen. JAKksos
in opposition to that institution. The rcoil,
were invoked 10 protect thor political priv
ileges from the grasp Of a monster money.
king, and they with alacrity joined the stan
dard Of Jackson. in crushing the enemy o
their liberties. Ii has never been truthfull,
urged that GEN. JACKSON, or even the De
mocracy o fthe nation. or hardly of any State
are totally opposed to al banks under al
circumstances.
II has been well remarked that even Ger
JACKSON gave limitations in his message Z
Congress, hat there could be such a bank or
ganized as he would approve, and he CAV
the most unequivocal evidence that he Ia
GREAT confidence in the State Bank system
by making State Banks the repositories {
the public treasure, after he removed tho d,
posts from the old Bank of the Unite
States. .tI -.
Thus it seems that tho Democracy, as
party, have never been Internationally or
posed to all banks. They always declare
their hostility TO the dangerous political pow