The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1856-12-04

hDF.ve years ago, there 1were'ine Ohio just
about as many Banks as there are Today
Money WAS easily obtained at six per cent,
belng all hat legitimate banks ere permitted
to receive, Every body Thought well of the
ohio Bunk Law-ne cnesgfeared to receive
their paper, and all went along prosperously
At about that time, or during 1853 and 1854
. different system was inaugurated. True,
the stockholders in the banks at that time re.
allied dividend of from sixteen to twenty
per cent on their capital, but this did moi
satisfy parton of them. To increase theil
pei cent, some banks established brokers' Of
fees. or shaving shops, anil would receive de-
p,,its as usual, but never had money to l5nn
To get thu, the borrower must go to the bro
ker's Office an pay one and a half two, and
even as high as three per cent. per month
compound interest," Such was the power oI
those brokers tba, they either compelled 9th.
ers to join in their mode Of operations, OF
forcet! them to suspend business by getting
up "run " on them. II was currently re
ported at The time, thai the suspension o
the City Bauk of Columbus was caused in
this manner. .g .s.4 .. ..'.....
1t needs no argument at this day to pro'e
that such course of policy, however mich
it may have benefited the few engaged in
banking, proved disastrous to the generaousi-
ness Of the state, For two years bust
ness men have deposited their moFy with
bankers without receiving cent in1ompen-
sation, and have paid for every acommoda-
ton at.east one and a halfperce'f. month
AS a consequence, many honoraole and good
business men have been literdly shaved to
death, while no one but the shaver prospered.
This has been the general nj ''.'
Numerous instances con3 be cited where
entire towns have apparery fallen victims to
this modern species of svliling. and are to-
day ten years infe,i ior owhat they were five
/ years ago. 4i.f--s ai <i' .a 20 i... ..
No banker calculate on making less than
thiity per cent. on th/capital under his con-
troll, and every mayAt all acquainted with
the profits attenlaYupon all healthful busi
ness must knos hat no such rates can be
paid and tts bu iness continued ; and no
man of prulDk, unless possessed of large
amount of 9Pital, will engage in bust
ness which hay require him to ask an ao-
commodatJf at such rates. f..'. -a-
Now Yre is a remedy for this blighting
evil an Yhat remedy is in the hands of the
Leeisly IRE. That body has it within their
mower establish rates of usage and enforce
tbsiv vhsctment. by such penalties as will in
s,ybbservance of the law. We know it will
II $bjected that suih restriction would drive
obital from the State. 1t may be true
/dt it is better to have no capital than to have
L only upon such rates as must rain the man
who has it better do no business than to be
n constant whirlpool of ruin,
We are in favor of Banks. They are
not well dispensed with, but
here shonld be restrictions thrown about
such combinations Of capital to protect the
people against its tyrannic power. The in
erests of business men and of all dependant
upon business, require this. .'a n"5a.4 80
~ Ex- Governor Slaie has recently taken
mother bevy OF female teachers into Illinois,
Indiana, Missouri, and Iowa. -
LAND OFFICES OPEN.-The acting Com