Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1857-05-14

tect us from the designs of those who crowd
the Io55iss, and work for the almighty dol.
lar If the people Will remain quiet, and
tamely submit to such an institution as this
new self-stylel Bank Of the Suite Of ha.li-
ana" with such powers procured, as ths
testimony shows it was, then You may ex-
pect all this and more TO be accomplished
by AMI through legislation.
In all this. [ have not alluded to those
powers that all men must admit are danger
GUS, aud will inevitably lead to the most Sc
rious consequences. The right is given TO
ISSUE Post-notes-beautifu notes, looking
like money-;he most worthless ofaII Bank
issues. payable in the future, when il will
snit the convenience of this institution: and
as if the privileges were not sufficient. it
mo-icstly de6cs the scrutiny and control of
the action of the Peoples Representatives
-pIacing itself Independent Of the l.gisla-
ton of the country.
Ii is thc spirit of our Constitution, that
the people are the source OF all political
power. aad, therefore, all legislation alec.-
ing their interests, or the character Of the
State. should emlnate directly from them.
Bur this Institution was sprung upon the
Legislature. without previous discussion,
without notice, without investigation. with
out any expression of the popular will, and
without any Indication of public sentiment
in favor Of the measure. If such legisla-
ton We're valid ami constitutional. two
wears before the expiration of the Charter
of tn, old Bank, what Is there to prevent
the present, or any succeeding Legislature,
from extending the monopoly of the BUSH
ness of banking for another period of TWEEN
ty years IT, the same, or more importunate
corporaters? If such is to be the interpre-
tation of our Constitution, and the prac-
ticc under it, il is the skeerea mo-kery to
talk of government of the people One
Inischievous, reckless or ignorant Legisla-
ture in an age might thus infiict upon the
State a catalogue of evils which would re-
quirc the wisdom of an age for their remov.
al, involving, among other evils, the dss-
truction of one of the main supports Of
public virtue, the supremacy of the voice
OF the people at the ballot box.
: II all that is claimed by this corporation
lie true, and is carried out in practice. here
after in legislation, the Bank parfor be-
comes the hall of lcgislation, in all that re-
lates to tn, financial interests of the State
You have no power over the Institution
They ignore vour bills, and arrosantlv tell
Won, the Representatives of the people, that
they refuse their assent to all you ask and
claim, unless we, the Bank. vouchsafe t.
you the privilege of passing into law what
we now present.
Anti Democratic as this doctrine is, and
at war with the very spirit of our Institu-
tions. vet it is among the most remarkable
events of the day, that during this session.
while the bill of the Bank was pending fol-
additional Branches. sufficient strength
could not be found to place as an amend
ment to that bill, if accepted by the corpo-
ration, this further and essential power, I'll
the Institution is ever to have the conf
dencs of our people, that the additional
sum of two hundred thousand dollars Of
stock, vet to be taken in each of the Branch
es, should be given to those who are citizens
of the State not already subscribers, under
. fair competition by opening the book:
for Thirty days. The very fact that thi:
was not seriously attempted, after the evI
dence. discloses that your farmers, mechan
les, and business men of the State, had beer
prohibited from taking stock under the sys
tenn of fraud AMI corruption. heretofore a
doptei at most 'ofthe Branches, should salts
fly tho most sccptical that the power claim
Cd and exercised two years ago, has IN
creased in two years with fearful strength
AMI you may judge from the past what tn
future viii be.
The principal topic of discussion witt
certain gentlemen, seems to be my consis
ten-y, nv course, my views upon banks
What has all this to do with the question
What come cticn is there with my views up
on banking. withwhat your duty is! Som,
of you admit that this charter was wrong
1t should be repealed. Yes you 90 furth, r
an I have to admit that there has been on
constant stream offraud and corruption con
nec.ed with this Institution, from its yer,
commencement. Yet, you say, Governo
Wright has not been consistent
This is no occasion to answer these mat
ters. There is my record-go and read il
warnei Won in 1923, of what you Nigh
expect, if you did not provide some add
tional guards for your Free Banks. urge
you, again and again, to secure by Ban
Department the safe keeping of our bonds
AMI safe custody for your securities
Tim, has demonstrated the correctness 9
these views; by this l am willing to b
Judged
- AS it regards your State Bank, old 0
new, there never was time during my con
.tinuance in Office, that would have signe
a bill for re-chartering the cid, orperpetua
ting the new Bank. Never Never! woul
/ give my sanction to any such monopoly
10 any set of men; and last of all, to an
corporation with the privileges and power
like the present one.
think, hewever, it would be far Nor
like prudent Statesmen, for the honorabl
members to investigate the powers OF thu
corporation, the means and appliances tina
were used to bring il into power; the con
duct Of IT'S managers, from its first establish
ment to this hour; and bring all the powe
ofthe law making department to aid in it
immei late overthrow. than to be led int
personal questions, as to what has been tn