The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1878-07-19
Official Press Of King County,
Friday, July 19, 1878.
A QUESTIONABLE MOVE.


the Constitutional Convention pub
lished this morning. it is stated that on
the twenty sixth day of the Conven-
ton one Mr. Hanna sprung 8 PROPOSE
ton upon the Convention, to the effect
that 1.-the Legislature shall not have
the power to incorporate any bank or
banking company, or moneyed institu
tion whatever, nor shall any bank COM
pany or institution exist in the State,
with the privilege of making, issuing
or putting in circulation any bill,
check, certificate. promissory notes or
other paper, or the paper Of any bank,
company or person to circulate as
money"
1t is not to be wondered at that one
might be found servile enough to in
troduce such cut-.hroat clause in the
interest q of few two per cent. Shy
locks, who have already got this Terri
tory fiat On its back, and are thirsting
to drain the last drop of its blood, and
then die themselves on the inanimate
corpse of their victim. But the Won
der is that eight out of fifteen intelll
gent men would vote to adopt such a
short-sighted and unreasonable pro-
vision, as it seems they did.
We wont say we will not vote for
their Constitution if their clause is in
, it. when it comes to the polls, for we
feel that the advantages Of admission
into the Union are so great as to out
weigh many and great counter
balancing objections against it. We
can put up with some serisas disad
vantages for the sake of the benefits
that will naturally accrue to us. But
those who have grabbed the circula-
ting medium Of the country, should be
taught that the Almighty has given
them no prescriptive right to use it to
make dogs and slaves of their neighbors
with.
We regret that we have not obtained
q statement of the vote on the question,
and the names.
This prohibitory clause. if adopted
in the form as introduced, is blow
aimed at business and at industry. 1t
is calculated to hamper and retard the
development of the country. Mon have
just as good right under the author
ity of higher constitution then that
of any State to incorporate together
for the purposes of banking as for any
other legitimate business. The only
effect of this hostile clause would be to
throw cloud over the Legitimacy of
corporate banking unless it be the
monopoly privileged. over taxed style
of the national bank system, which is
detrimental to the interests of new
State like ours, and impracticable. aud
to still further shackle this interest of
money and banking, which should be
the freest of all and the least loaded
down with limitations and prohibitions
in behalf of the dead hand" of oh
structionists.
When we see the clause as finally
adopted after amendment, and in con
nection with the provisions of the gen.
eral incorporation chapter. we may
find its obnoxious aspect consid-
erably modified for the better, and
are disposed to hope for the best, but
all thsre is about it, no such provision
ought to have been introduced at all
or adapted in any shape or form what
ever. Determinations against any class
OF legitimate corporations or institutions
are invidious and injurious They can
only result in evil unmixed with any
good. usury enactnennts, prohibitory
liquor laws. and all such discriminat-
ing laws that branch on the perfect
freedom of election Of individuals or of
collections of individuals to do as thew
will with their own property, are OPP
pressive, wrong and evil in their effects.