The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1856-01-17

Court of the United States at the Nav
term. l854-George E. Pugh and R. T.
Spalding appearing as counsel on the
part of the State The decision was a.
gainst the State in the first case, and for it
10 the second. The Court was not unani.
nous in either decision. The cases are
both reported at length in the 10th vol
of H,cards Repo,ts. s1
/ cannot Disguise the humiliation feel
at seeing the sovereign State of Ohio ar
raignel and placed on trial before that
tribunal by certain corporations within
her own boundries, because in an hour of
misplaced confidence she bestowed upon
them undue privileges and exemptions
She has violated no contract with these
corporations, while they have scarcely
made an effort to accomplish the purpose
tor which they were created. Instead of
furnishing currency equal to, and re-
'eemabie IN specie. they have too frequent
y Hooded the country with DEPRECATED
bills.
The taxes on the people of the State
have been nearly trebled since these insti-
tntions were established. They have
BONE the expenses OF an extensive and
costly system of internal improvement !;
avenues of commerce., of industry, and
trade have been opened in every part of
the State, and, while these banking cor
porations are the greatest beniticnries
from those several enterprises, they refuse
to share with the people the heavy bur.
dens which have been thereby occasion
ed. asJ a -es. era
They ,'cfray alike the force of public
opinion, the determination of the Consti-
tntional Convention, the laws of the
State, and the decision of our highest ju-
dicial tribunal; and persist in claiming
that. if taxed at all, it must be different
rule from that of indiviauais-on their
profits only, and not on the value of their
property. Ten millions OF property die
tates to duplicate of eight hundred and
fifty millions Under these cireumstan-
ces, ! connot do otherwise than recon.
mend an unyieldins adherence to the just
ANA honest principle of equal taxa
| ton
! Banking privileges still more exten.
sive, am told, are to he asked at your
hands during the present session. 1t is a
source OF some qualification, however, to
know that the present constitution oppo
SIS an insuperable barrier to the tax ex-
emptions that were formerly so uuwisely
and inconsiderately granted.
The report OF the special agent appoin-
tel in 1854 by the Auditor end Secretary
of State, to examine into the condition
of the free and independent banks of the
State, will be laid upon your tables. Il
| abounds in in ormation, and coutain.
many useful and practical suggestions ir
relation to the evils of the system at pres
ent pursued, and the supposed appropri
ate remedies. The subject Of banking
has occupied a large share of public at,
tcnton Tor years, as these institutions, iT
entering the halls. of legislation and ask
ing for privileges denied to the individu
al members of community, have succeed
cd, whether Intentionally or otherwise, in
giving to it a political bearing.
SO great is the power which the au
/ thority to Issue and circulate notes a,
money conters over the commercial anc
other business relations of life, that the
necessity OF protecting the people from
probable injury and loss has always beer
felt and acknowledge and hence we finc
the General Assembly at almost every
session attempting to regulate the curren
cy, with how much success is known to
to every one.
The expe iment Is to he tried again. hu
the opinion is fast obtaining ground tha
neither commerce nor credit is benefited
by legislative interference.
The amount and condition of our State
liabilities may be obtained from the fol
lowing table: