Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1857-01-15

ment. l cannot doubt thvt the ssIutaEy inau.
} encs Of such legislation would be speedily man.
fest in the increased value Ofths roads and ID,
agrsater security Of lraV,ltn and frsightsn.
A sound currency and secure exchanges
are not less importan. 10 the intercourse Of so
elely than safe means of transportation. In
almost all, currency is composed Of coin and
Of circulating notes, convertible into coin, sup
piled either directly by the Governments t,sr by
} Banks organized under lie authority. 10 this
State the powers, functions duties and liabil.
tiles Of banks have been defined by law, some.
} times BY special laws under the name Of char
terS, and sometimes by general laws ansnda-
J bic and repealsble at the pleasure Of the leg
islature. Whatever difference may exist on
the abstrac questions relative to q mixed cur.
rency, none apprshend, will be found among
practical men in regard to the certainty that
such currency will continue, for an Indefinite
periodic constitute the actual medium Of pur-
chase aud sale. in this, as well as in every 9th.
er State in the GOnfsderacy. Certainly no
power, less ample than that Of the Federal
Government, is competent TO the effestual ex-
clusion Of such notes freM circulation as money;
and no present indication suggests Rny proba-
biI! that the power will be exercised for that
purpose.
Whls opinion on this point thus approach
es unsnini!y, the public judgement in this
State, remains divided upon the question
whether the franchise Of banking should be
limited to defined number OF Institutions, or
extended to all who are willing to give the re-
quired securities and guarantees agsinSt abuse
have, upon sformer occasion, expressed my
preference for the most liberal extension Of the
franchise, with such restrictions upon its sxer-
else as will efeclually protect the community
agains! mere paper mSnSy currency.
The act to incorporate the Bank of Ohio, and
other Banks, passed April IL. 1856. and sub.
uited to the people in conformity to the pro
provisions Of the Consti,lt on, on the second
Tuesday of October last. not having been ap.
proved by majority ofall the electors voting
at the election, has failed to become a Law.
More recently the Supreme Court Of the
State has unanimously decided that the ACT
to authorize free banking, passed March l |,
1851, but supposed by some to have been alb
rogated by tbS new Constitution, remains in
full force, unaffected BY any provision of that
instrument. | submit 10 your better Judge,
ment, whether sound policy doSs not suggest
the expectancy OF observing the practical op.
Grafton Of this act, and Of so amending it from
time to time. as may be necessary to protect
and procure the interests Of the COMMUNITY,
without invoking the decision Of the people on
a new banking Law.
Considerable practical difficulty has arisen
in carrying into execution the provisions OF the
act of April 1885, for the taxation Of prop,
srty employed in banking. To dsternIns the
precise rate to be eviad upon the property aud
means included in The first statement, rsqu.
red by the act n order to produce the sum
which would be produced by the general rate
If levied upon the second, and to levy that
precise rate when ascerLainsd, prove, not unfre.
quently, to be complex and embarrassing op.
srations. The requirement. also, that the
gross amount Of property and means embraced
in the first statement shall be entered upon The
: duplicate for taxation and taxed by different
aud usually mach less rate than that levied
upon the property Of individuals, is calculated
to produce en- impression, which in my judge
M mt, mot fail oprSVs injurious. It is the true
interests of banking institutions, as we'll asthe
people, that all legislation concerning them
should avoid even the appearance Of special
favor. The most rsIOlute impartialitv in the
distributions Of burdens is demanded by every
consideration Of policy as we'll as sf justice
I, therefore. respectfully suggest such amend
> ments Of the Law as will require all property
employed IL banking to be embraced in one
schedule. and entered upon the same duplicSt'
for taxation st the same rate as is imposed
upon other property.
, The Constitution authorizes the establishment
in the Secretary Of States Office Of q Bureau
/. Of Statistics, Some provisOa for the collection
n Of stAtatioal information iI already made. The
i. Township Assessors are required to make ls'
: turns Of the quantity Of wheat and corn pro
]. duced in their several tOwnships each year.
i The District Assessors are required to report
). andsr certain classification once In six years
. The number OF acres Of land taxable Ia the diff
If srent counties. Various acts squis the col
!. lection Of other statistical information. more
!. less spscdc. IN relation to production, eduOa
!, lion population and crime. Under these acts
although from want Of system and Of adequate
: means Of endorsement thsy are often very
II impOrfectly executed, large amount Of ussta
I. e.... .ttau l. na0anl.A II l. .aau..nl H.