Marshall County Democrat. (Plymouth, Ind.) 1855-1859, 1856-02-21
ton in Reference to Banks. The Sentinel
and its Views ON the Su0iec. OF Banks.

ton in Reference to Banks. The Sentinel
and its Views ON the Subject OF Banks.
A question seems TO have arisen in the
Democratic ranks IS to what Is the true
and proper position of the Democratic par
" In reference TO the subject of banks and
banking. 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 Con
vention, oa the 9th of January, at q late
hour of its proceedings. adopted without
discussion, a resolution offered by Judge
Lowry. OF Elkhart, declaring that the De
mOcraey of Indiana, as represented in that
Convention. were opposed to banking and
all other chartered moropolies, and dis
claiming all responsibility for the passage
Of the new State Bank bill. This resolu-
ti)n was introduced as the individual feel
Ing and opinion Of is author, and late in
the evening. it passed, without invesiiga-
ton, discussion or much consideration. l.
was certainly untrue n some Of is parts
and declarations. The Democratic party
could not truthfully 'disclaifn' 'oT respon-
sibiIity for is passage, i, rs a party, it
held Itself responsible f,r tie individual
opinions and votes Of is memJers. Some
few democrats supported and vo.el for tic
Bank charter, AID they 10 doubt, thought
they had 4 right 70 10 50, without viola
ting any of the cardinal principles Of the
Democratic creel. \ mans opinion upon
banks has never bean a tes. of bis democ-
racy. and We hope never vii DC mai one.
We have known tic most orthodox demo
Gratis to Differ as to the policy and expedi
ency Establishing banks; and we have
ever thought that all such questions should
be determined rs business matters should
be, by the eondiic. cf the times, and the
necessities Of trade and commerce. The
present State Bank charter was passed by
men Of all political parties, without refer
ence even to party lines. The charter Of
the old State Bank was about to expire, and
it became question whether another one
should be chartered The circulating me
dunn of the country was too small for the
business OF the people, and if tie State
Bank was TO be crushed out, at least four
millions Of our own state currency must
have becn Withdrawn from he already Inn
tied supply.
Since the days of the difficulties of the
Democracy with the old Bank of the Uni
ted States, it has been principle of the
Democracy to look upon all banks with
suspicion, and to place such restraints up
on them as to prevent them from cxcrcis
ing political influence in Government
1t was the attempts of the managers of the
old United States Bank to control the po-
litical action and policy of the United
States Government that aroused the patri-
otto Indignation of General Jackson in op-
position to that institution. The people
weIe invoked to protect their political priv
ileges from the grasp of monster money
king, and they with alacrity joined the
standard of Jackson, In crushing the enc
nv Of their liberties. 1t has never been
truthfully urged that Gen. Jackson, or
even the Democracy Of the nation, or hard
ly Of any State. are totally opposed to all
banks under all circumstances.
1t has been well remarked that even
Gen. Jackson gave limitations III his mes
sage to Congress, that there could be such
a bank organized as be would approve, and
he gave the most unequivocal evidence
that he had great confidence in the State
Bank system. by making State Banks the
repositories Of the public treasure. after he
removed the deposits from the old Bank of
the United States.
Thus il seems that the Democracy, as c
party, have never been Internationally OPP
posed To all banks. They always declared
their hostility To the dangerous political