Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1857-01-15

agsrieved; but their Complaints were stis
ned by the potent agency Of money. In
'nis manner. majority of the stock. in
'he seventeen branches first organized.
was subscribed by twenty-eight individu-
ais, the largest portion of whom have
never been engaged in the business Of
banking, and have. already disposed of
their stock, to others, at enormous nrrmi.
ums. q
1t would be interesting and instruc,;v.
TO have, for comparison, the names Of
the original. and the present STOCKHOLM
ers. The sudden transfer OF stock would
convince the most incredulous. that the
charter was procured. not for purposes
Ell banking. but for speculstions; tor The
benefit of The few TO the exclusion of the
many. The premiums thus realized blythe
original stockholders. are believed to be
not less than one quarter Of million of
dollars; all OF which must be re- imbursed
by the laboring aud producing Glasses
Had the State exacted such bonus from
the cofpora'ors, to be paid into her treas.
sry. 1t might, at least. have been s.id
that. IN this respect the whole were ben
Gifted. =
Having knowledgs of these facts. and
regarding the charter as a d,rrc, v;oI..
ton Of the Constitution. | caused two
suits to be brcugat-pnr i'm nv own
name. and one in the name. of The
Siate-for the purpose of testing it's va.
lsd,v. The firsl has been decided, with.
out touching any of the. great points in
volved in the issue. The second is still
pending. and will, in it's progress. fully
test the RICH, Of the corporators. The
Supreme Court have already intimated
such on opInion. in regard TO the adop-
tion of amendments to bills upon the
passage ss mus, inevitably, render he
charter nullily.
In view OF all these facts it is nv sol.
emn conyiction, that public credi, and
confidence can never be given to an in.
slitutlon of this character. recommend
there lore. that the charter he expung~d
from the statute book; or failing in this
effort. that all connection between the
Bank and the STATE. either by deposit of
! funds or other wise, he prohlbi and
that il be prevented from rr-issuing the
notes of the. ptesent State Bank By tho
pensl,y Ola forfeiture of the securities
received therefore.
The charter should be promptly and
absolutely repealed so that no ssnciinn.
whatever. It's gal existence shall an
pearlupon your staiutr book The safe.
! ~ OF the public: funds should also admon-
ISL YOU To prohibit Tho reception of ils
/ issue for public dues
The Legislature owe il to themselves.
60 the cause OF honesty and Justice. IN
/ the credit of the State and of IN. cousti1
;uiion they represent, to lake prompt md
decisive action in the premises. When,
the present State Bank shall have been
entirely wound up. and all its nff,ifs Ii.
undated shoald the people then desire
another Institution 10 succeed il, their
| representatives Will come instructed TO
| that end. and can frame charter which.
guarding the right Of al, shall rot be sub
servieni To The purpose OF private spec
ulstion. If il be good. the whole people
should be permitted to participate in iis
benefits; il 1t be otherwise, ii should be
promptly suppressed.
| IL may be said that The ne institution
| is now III the haEds of safe and response
BILE mrn. and that their rights OF proper
ty should not be disturbed In answer
ii may be'stated ihat they pur, hs.ed the
stock. with full knowledge OF the frauds;
that The stock. instead OF passing into The
! hands If our CITIZENS; our farmers mrr-
Chants. and mechanics a. in the former
Bank. is being transferred to men beyond
Cur limit who have no other in crest in
I the prosperity of our State than 10 M ks
II tho iaestre OF IN il spearoA lions. Nor
have W. ans gusrsn'y, or assurance. tbs :,
however SOLVENT the present 81. ckfold
cts. The stock insy NOT ia an. frat mo.
lnr nj of disaster. be transferred to others,
without character. ar responsibility.
With The extended powers and privI-
lrges conferred on this inslitulion-its
right to ISSUE post notes. TO discount up
on deposits. sud 20 defy the scrutiny or.
conrrol OF the Leeisla,ure-it is be.
iieved th,t 40 prudent capitalist would
sveI invest his money in it.
c,SDLUDED NEXT WEEK