The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-09-24
Light out Of Dnrkness.

We always rejoice in sound common sense,
on StA,e policy, evnced from whatever quarter.
And so We are especially grstiisd, to finl rare
and striking instance Of this never too abundant
commodity, in an article from The Cincinnati Ca
zette Of late date, in which that paper gives
hearty plunPing blow upon the tender spot OF
the present and of the proposed new banking
system Of Ohio.
The article we copy in full, on the outside OF
to-day's "Ss1tinel." 1t will startle the people
at the sight it affords Of the annual millions up
on millions, dragged out of their pockets, by a
process called exchange, butso far from it, and
under such false preiences Of mutual advantage,
a. to be more properly styled swISDLING. The
system Of the eastern deposits" so prominent
provision of the Bank law OF '46, and Of the
bill before the people for ratification in October,
was opposed by the Democrats from the first in
anticipation of the very evils now SO strongly
pointed out by the Gazette, says the Statesman,
and our objections were then ridiculed as the
impossible yagariesof an impractcable and fac
tious opposition. The concessions of the GA
zette, for its arguments are concessions, and
ought to have been regarded eleven years ago,
swoop down at one blow, one Of the grand fea-
lures of the Bank law of 46, and of the New
Bank Bill.
1t was pretended in '46 that these Eastern
deposits would furnish sound capital to bank
upon in Ohio--as if deposits in New York were
any more reliable than elsewhere-and as if the
sin of Insolvency, so easily besetting all money
corporations, never could overcome New York
end by the Democracy. when first promulgated
| 1t is now shown that we were right-but it
has required more than a decade to find it out,
besides the actual loss by bank explosions Of
hundreds of thousands, and the sacrifice to our
people of millions by the year, by placing Ohio
at the mercy of New York money market,
always controlled by financial adventurers and
gambling stock brokers.
The Democracy were beaten down in their
opposition to the system now so handsomely
though lately exploded by the Gazette-we
were beaten down by the false pretences Of a
banking capital Of "specie or its eqHi0Rem.'-
By such pretences the people were made to be-
lieve that their business prosperity depended
upon establishing and upholding this very sys-
tenn, the obvious cause of the evils acknowled
Sed and denounced by the Gazette.
Let the people now learn wisdom by the
past. They have been robbed and plundercd
as the article Of the Gazette shows, to an untold
amount, by having lost all control of their busi-
ness affairs-they now lie powerless at the feet
of banking system, the first argument for
which was, that Ohio ought, Us both a matter oI
the gravest interest and Of State pride, to 1pos-
sess full control over her financial and business
transactions. And this, too during the prime
and vigor oil banking system once lauded to
the skies--a system not only powerless to re-
store to us something of our lost commercial
independence, but actually responsible for the
loss, and yet sedulously working to keep us
still prostrate. Such is the existing State Bank
and such the results, for the evils stated so for
cibly by the Gazette, are nothing but the re
suits, of eleven years Of its career And We
another Banking system, alike in all possible
respect, the people are invited 10 fix as a YOKE
of tyranny about their necks, for another quar-
ter ola century! If the people have not had
enough of an oppression 50 CALLING, let then
comply with this modest invitation on the Sec
ond Tuesday Of October.