The Kalida venture. [volume], June 27, 1845, Image 2

About The Kalida venture. [volume] (Kalida, Ohio) 1841-1865

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r" from the N. X- Evening Post
JUDICIAL LEGISLATION.! "J
TUnkino Public opinion, which requires
a lonjf time to mature, on many questions of
general interest, sometimes in uiju. v y.
unexpected events, 10 mimo up buiu
towards i correct conclusion. For more
than fifty years indeed ever since the adop
tion -of the Constitution the progress of
ideas on the subject of banking and currency
lids been slow and unsteady. A treat and
important point has been reached however
Ty the final settlement 01 me mucn vexeu
V oueBtion of a National Bank. There is, we
e h.llnve. not a Dress to be found in the coun
1 try which now raises its Wice in favor of the
t ' necessity of such an engine, simply because
it is a well settled point that such a voice
...U nn find a reanonsive echo in the
country. ' ' '' "' '
v .1 it .nnnniad that another step in ad
Vance had been taken, in this state, by the'
adoption of the General Banking Law the
: Uw mithorizinsr the establishment ol anunli
: uA imrhher of Free Banks, as they were
most improperly termed at the time. This
i.-f 1S3fl. which like all other legislation
o'wKin.h nreceded it. violated the first principle
"of sound finance, by undertaking to control,
Wislativa enactment, that which should
be left to individual sagacity and enterprize
0 has, within a few days, been made the sub
f deliberation before the Supreme
i Court ef this State, and has received, as the
- unanimous judgment of the Court, through
-"!ia rilii.f Justice. Bronson, a deliberate and
unsparing condemnation, on the ground of
" UHWIUDtUHWMnj' t
i t JThe importance of this decision, affecting
ahH interests of society in its most tende
I: ha .on at a olance from the
: uuuii, 1,111 t - o . i
-statement of the capital of the Free Banks
! as compared with that of the safety fund in-
etitutions. This statement gives 65 free
Banks ftSl.644,421 and of Safety fund 83
a; capital of $87,762,928
" . i Ann nnn AAA Jt..J
fhAfrno Hanks nave aooui w,uuu,vu uu
.' them and involved inthe constitutionality of
" the new law. !' '' "', " 7 ,
V ! Thrt MSB which immediately called out
this opinion of the Ceurt, which it was well
known to have long entertained, was an in
.Idiclmerit for passing counterfeit money '.he
tills of the Bink of Warsaw. This insti,tu-
t tin never wnt into operation, ana never is-
named vo jjow
Inoenuit or Germans. There is V
many mindrf a prejudice against the German
nation, on account of the stupidity unjustly
laid to its charge. On examining the subject
I find the following inventions have origina
ted in Germany. 'ivi.'-";"-''- - :"
A. D. 350, Saw Mills. 893, Sun Dial.
998, Fulling Mills. 1070, Tillage of hops.
1100, Wind Mills. . Oil Painting. ,1270,
Spectacles. 1300, Paper of liuen rags.
1312, Oreans. 1318, Gun powder. Uan-
nons. 1360, Wire making. 1300, ' Hats.
U79,Pins. , 1389, Grist mills.- 1423, Wood
engravings. 1440, rrinting. 14y, rnnting
press. . 1450 Printing ink. i 1452, Cast
types. ' 1487, Chiming of bells." 1500, Wat
ches. ' Letter posts or mails. Etching.
1509, Bolting apparatus. ,-1527, Gun locks.
1535, Spinning wheels. 1546, Almanacs.
Stoves. Sealing wax. 1590, Telescopes.
1610, Wooden bellows. 1620, Microscopes
1698, Thermometers. 1643, Mezzotint en
graving."- 1650, Air pumps. 1652, Electri
eel machines. 1658, Pendulum clocks.
1690, Clarionet. 1 1706, White china ware.
1707, Prussian blue. 1709 Stereotyping.
1715, Mercurial thermometer, 1717, Piano
Fortes. , 1738, , Solar microscope., -. 175S,
The gamut. 1796, Lithography. ; ' ?
: Besides those are several German inven
tions of which I cannot ascertain the date-
such as door locks and latches, the modern
screw-auger, and gimlet, the cradle for har
vesting, &c. &c, . ,, i
Surely' a nation which has made such con
tributions to the interests of literature and
the arts must occupy a high rank in iatel
lect and ingenuity. -v..
THE KALIDA VENTURE.
nilD 1Y, JUNE 27, 1845.
; DEMOCRATS ! KEEP IT IN MIND,
That the law passed by the Whigs
last winter creating the State BanK
of Ohio must be speedily and utter.
ly REPEALED. " ' ' '
Our' publication day will hereafter be on
Tuesday, as it will better suit the mam. J
A Great Work The noblest influence,
on earth is that exercised on character: and
he who puts forth this, does a great work, no
matter how narrow or obscure Ins sphere.
The father nnd mother of an unnoticed
family, who, in their seclusion, awaken the
mind of one child to the idoa and love of
perfect goodness, who awaken Jn him a
strength or will to repel all temptation, and
who send him out prepared to profit by the
conflicts of life, surpass in influence amps
leen breaking the world with his sway. And
not only is the work higher in kind, hut who
knows but they are doing a greater work
even as to extent or surface, than the con
queror? Who knoweth but that the being
whom they inspire with holy and disinteres-
? "" h.11.7,Ill Principle, m.y comnmAe.1. him.olf lo
i .. . a eminterfe ter.Bw"u ",D D"oul U"S" .
I (INI I I11LIU11 i TV IMUtwM ' I
found guilty and sentenced to nve years in
x,- atDtA Pr om. In his detence -u was
3f0,r.,hnt tha Rank of Warsaw was
t nnt nnlv a soulless but a bodiless institution
the act under which it was created being un
constitutional and void," because it required
:. kj n nt.tuinfiil a two-third Vote. The
UI1U IIUU " V w ......
r Court was called upen to charge the jurj
f1t 'and refused. The counter-
,T feiter'fl counsel took exception, and the case
. was carried up to the Supreme ourt, ana
i-x the judgment reversed.
. . The hasis of the decision is the 9th sec
tion of the 7th article of the Constitution,!
-'requiring a two thirds vote, for every bill
" creating, continuing, altering or renewing
i.n. Wlv nolitic or corporate. The only
T point arising out of this question uncieftliis
.rtirln ef the Constitution, is this: , "Is a
' bank created or continued under the Gene-
" tal banking law, a uoay punu.wi i.vim.a.,
Tn nm minds the question would nol
admit of a doubt. The Court of Errors itself.
' though predisposea to exempi ui iw ,umB , , ,
t lu" Ltui,A. N,,!-: muM not be brousht toIdaughter!
eay thoy were not bodies politic or corporate.
, " They did, hewever, resolve in the Beers case
'rt)y a nearly unanimous vote: That the law
' was valid, and that the associations under ii
-' were not bodies politic or cerporate within
' the spirit and meaning of the Constitution.
''' ' The true remedy for this anomaly, which,
; .i.:io u nimiififi to exist, cannot fail te1
alivd a condition of doubt and uncet
painty from which all banking operations
ought to be free, is to be found in a thorough
ments may spread through a nation througl
the world? Channing.
A Thrilling Incident. Rev. Dr. Bee
cher, in an article which 'he furnished for the
Young Reader, tells the following touching
story:' ..,:..
" A few years since, as the Rev. Joseph
Davis, an excellent Baptist Minister in Lon
don, was walking along one of the crowded
streets of that city, his attention was arrested
bv the circumstance that a carriage with
.r.i;.ii;nn nf common sense to a decision
"Hi".' . . .. , . t a., t...
several horses was iust about to pass over a
. . ... " - . . ,
little girl who was slowly crossing the roao,
He strongly felt the danger of the child.
and forgetting his own, he ran ana snatcnea
her up m his arms, and hastened with her te
he side-path, when the thought struck him
. . : .. ... i i !, ,1
what would the parents ot this aeai cnuu
felt had she been killed! At this moment
he looked in the face of the little girl, which
had been concealed from Ins view by her
bonnet and imagine, if yeu can, his teel-
ings, when he discovered that it was hisowni
daughter! I saw him about half on hour
after the occurrence, and I shall never forget
his asritation as he described to me her dan
ger, or his expression ot thanktuiness ie an
infinitely gracious Being who thus delivered
his beloved child from death V
DEATH OF GEN. ANDREW JACKSON.
We ihreud out paper in mourning on account
of the death of Qen. Jackson, beoause thii is the!
cuatomary method for teitifying reaped tor the
memory of the dead, and u due to one of the
Sreateat men of his aire. But we do not feel
ragret that ha has been relieved from pain, suf-
eiing and infirmity. Our regret la that death Aas
power to take from the world ita benefactors,
men of auch noble and maenanlmous qualities en
Andrew JackeoR proved himself to possese.
He waa great in the fields wherever he appeared
victory wont with him the blood thirsty savage
and the flower of England's army alike acknow
ledged his prowess. He was great in the cabinet
he waa morally as wall as physically brave.
When he became satisfied that the liberty of hie
beloved eountry was in danger from an internal
foe the money power he entered the contest
and braved the assaults of envenomed tongues
equally unmoved as when assailed by the toma'
hawk or shot of the enemy. He opposed to eorrup
tion an iron will and love of truth never exceeded
and in controversies with foreign nations he spoke
with no feeble or desponding voice, but as if the
echoes of the contest o' New Orleans rung in his
ears. Yes, he was great he has stamped some
thinsr of his own character upon his times. . There
was about him a directness ofpurpose-a manlinesi
of design, a contempt of littleness,and nobleness ot
effort that won him the hearts of the people, as
much and more than ever did his victories.
History will yet recollect with approval his sacri
fice of selfish ease for his country's advantage ; ex
perience will prove the justness of his views, and
the grasp and far seeing character of his intellect
From nature he had the results of that knowledge
which the mere scholar vainly Iabora through
heavy tomes to obtain a thorough knowledge of
men and a vivid perception of the consequences of
measures, which gave a strength to Ais well stored
mind equalled by few if any of his ootemporaries.
Wo cannot mourn h is departure in sorrow for!
him his mission was fulfilled his life belongs
to his country's history. There was left for nim in
this world nothing to hope and but little to regret
Our regrets are because we know not another to
supply his place none as brave, generous and ear
nest, en vhom his mantle could worthilyhave fallen
Bw for him death was a release for us, ihs setting
of a glorious light leaving our national horizon
shrouded and darkened. But we rejoice that his
life, the love and respect he inspires now, when
irons to ioin the ealay of heroes who have shed
lustre on our nation, will be a burning incentive to
tJie vouth of our country to follow him in all thai
j -
the Riporler feels anxious to know our Opinion on
the subject, we hasten to gratify him in advance
of the meeting of the ColumbusConventlon : The
principles of the men who will be nominees of
this Senatorial and Representative District will
be soundly Democratic. . Honest men will be se
lected who will do all in their power to carry out
the will of their constituents. This much we
can venture lo assure Mr. ;Davison Will be the
s. Besides this wo presume there will be pri
vate as(uranea required by delegates from the
leveral counties in relation to mattorsof local in
terest, and bledses -but' pshaw ! these matters
are all in the family, and you belong to a different
connexion.
Clerotman Alto Partsiuonhr. " Since
what passed between us," said a very zealous
clergyman, " 1 hope yeu do not open any
letters whatever on Sunday."
" I do not," replied the parishioner: " you
must know I received one this very morning,
( . T 1 I . r -.U,.,U klT I
r it,. i,n a niiest on. ' Lt the business 7 .
ui " "l , . . b nr. iiimnAnAn "
m i.:ik- iu..n nnnn to the community!10" " .
inrtrR. and bo as .ireo irom mumiauvc
mi - - . . -.,,.:
shackles as the business ot snip ouuaing,
packet sailing, buying and selling on com
:0.mn: domestic and foreign exchange, the
' issue ot notes or Dusiueua pao., v.
tin,! of trade: Under our present lmpeneci
... - - . .or ,
...aiom w lnan uoon a seioi repreHoiuttiivcB , ..... u. : .u i- m
WJrr .... . B - . to d0.halHvvhat mere migai uappou w uc . u.
SCnl w Aiuanjr wi(viv. r.r- , ---
whicn we can omj tiv,j . ' , , , '"i H W.J.:. tit, . s.i m,.
my i ii - .in.r na nrrntnar nan nnilKd i lltsuuutv iiuun vuu'" as..-,
' Jo?." Have they ever been able to giveBoften entered 4 drawing-room after a dinner
J ...- Hasinarfv not auite in such a state as to be tit
this arotection io v.......v - r ' . i.j: r .v i:J
.t. r hefirt a vear. or a month, or a day.Bcompany tor itie i.aies, wu.u,
. a. wre not. duly lemtimatelySintimate with him, en one ot those occasions
and under the sanction of charters and cor-
r.i:n. .fmuried ot thousannsf in ie-i
!.:-i, c,.o .nl iflniit iirjon a niece of engraved
ini.ui, " " i i
have made him groat, glorious and revered.
He had enemies for his was the warfare in
camp or cabinet of active strife, the struggle with
livin g earnest foes foi very life; and he has been
maligned and injurod as much as hate, envy, and
revenge could work; and yet all erifgts to tossen
him in the eyes of his countrymen jpr.to weaken
their confidence in his integrity have failed s
strong condemnation of the falsehoods of his ma
ligners, and confirmation of his truth. But he has
done with time his work is finished; and the
afflT;r- atatesman and christian has lone to his
glorious reward.
THE MIAMI EXTENSION.
Ho for Cincinnti! Two canal boatslofi
Toledo on Tuesday for Cincinnati by the
Miami canal j the AMrcd Ely, Captain Shaw,1
nnd tlm Rosa.' Caotain Denvir. There "is
some doubt of the canal being ready to pass
tham throucrh without delay, the btate
Scow, we are told, has come through to the,
7 .. , .....I
junction, but we have not learnea tnai me
J'That was rietit. And what "did you
think of the service to-day my new curate's
reading, and my sermon on attention lo roll
orinim duties?" "
Indeed I can hardly say, to tell the
truth. I could scarcely notice any thing,
for I could not help thinking all the time
i Z - ii.'ro m fhft unwarv citizu. ' He
i whirh the state seems to pronounce
' " Cood, and divests himself of the caution and
3 prudence which iA all other cases would
'L.rn .; affairs: and which, if it were not
for the absurd and deceiving legislative inter
fi.ror.ra. would ffovern him in this.
A'powerful agitation has been given to
this quenioa.;afte(ithad been almost lulled
- "to rest, by the present decision of the Su
preme Court. If we mistake not, this agita
tion comes very opportunely, and in time to
'prevent abuses continually, tnougti suenuj
growing upon hi. While the alarm thrown
.i,.,. ..n.vnnrtdtv. in some quarters will be
L..jt...i0 nmnt. inasmuch as the action of
.u. kf Errors even if immediate, would
not confirm the decision of Judge Bronson,
t ,;tr hfl flalutarv. It will show them by
. ,,;,-,m:.i ifiniiro thev hold a mono
wucli ni,
j tha riirrsnc and reuia-
ting the affairs of commerce in direct viola
tion ef the principle which teaches, that com
merce, being the legitimate offspring of indi
vidual skill, activity and enterprise, should
be free and .unshackled, and leave, me ,eur
handed him a tract entitled, Three words
a a Drunkard " The wit read out the title
very deliberately, and answered, " I suppose
ihey are "pass, the, Dome.'
An old woman seeing a sailor go by her
door, supposing it to be her son William,
called out to him. " Billy, where is my cow
wonef The sailor replied in a contemp-i
innna manner. " cone to the devil for what
I Imnw." "Well, as you are going tnat
tvv. said the old weman, '-who being a little
deaf, misunderstood him, " I wish you would
let down the barsl ',
HfflV TT I.nnKS AT A DISTANCE.
' Ohio Bakes. The DeTnocroh'c Review for" this
month, has the following remarks on Ohio bank
inn in its monthly notice of financial matters: V
"The citizens of Ohio, after having sutlerea in
former years to a very great extent from excessive
linnkintT. have, at the late session ef their legis
lature, authorized a new creation of banks. This
was effected under the influence of the dominant
party, which took advantago of the want ot cur
rnna within the State, at a time 'when the issues
of the banks had been withdrawn from circulation
in consequence of the failure er liquidation ot the
hflnltn. and before the course of trade had resup-
plied the channels of trade with the constitutional
currency, to urge the necessity of bank paper as
a circulating .medium. The popular'rejudice
airainst banks was overcome by a complication of
i nr' r i'l . . 1 1 1
requirements, me eneei oi wuicu, iv won uuegou,
wniiiri nreveni ine uansrers inuorciii m mo air
tem. This resulted in authorising two modes of
banking, one on the old system ot charterou
rirht. and the other in imitation of the New
Vnrlr free bankin? law. The law. as if in dis
trust ef the creatures it brings into existence, lim
its the capital and circulation to specified sums.
Thus there are in existence twelve old banks with
a capital of $3,792,240, which are allowed to een-
tinue business, ana, in auaiuon, sixiy-iurnu now
hnnks are authorized with an aearegate capital ol
$6,150,000, making together a capital of $9,942,
240, to be employed in banking in Ohio. These
banks may circulate their promises as money to
the extent of 16.676.000. This precise amount
is assumed by the law to be safe and no more.
Notwithstanding that, it is larger by near $7,000
nnn than the highest amount ever cirulated in
that stato.und which resulted in such ruinous re-
vulsions. It is very clear to a reasonable mind
that if the curreney so furnished is sound, it is
useloss to limit it. If it is not sound it should not
exist at all. No government ever attempted tol
limit the precious metals which should circulate
for the obvious reason that they can never accu
mulate in any state or country beyond the actual
wants ot its trade, ana we are ioiu laai papei tuu
vertible into the precious metals is every way
annul to them as a currency and preferable foi
daily use. When, however, the people discover
by sad experience me uuugum ui yupui, i, .o
the amount. ' The design of this parade of cau
tion is apparently to deceive the unwary, and to
induce the belief that legislative restrictions can
make that safe which of its nature is fraught with
danger to the community. The Ohio law is com
posed 01 seveniy-nre sections ui gicuv icugui, n
F ... ranlll.tl tin nit 1 n f)T.
The " regulations." however, apply almost entire
ly to issues of paper as money, by which means
the banner Decomesa oorrower iubicuu ui biouu-
ii .1 I 1 l . 1. . u-
er. JN early an me disasters aim losses nun nan
attended banking in the United States hnve
grown out of this fact, that it rs not what the
hunkers have loaned, but what they have borrow
ed of the people by moans of their paper issuesj
that have involved their failure. The seventy-five.
sections of the Ohio law are occupied almost ex
Mnaivfilv with detailincr the manner in which
banks may borrow of the people; not a word isi
said ot the manner in wnicn me peuuie may uut
row of the banks. The first methed of issuing
notes is for seven banks or more to associate and
nrmnint iir.h an airent. These acrents assem-
ole at Columbus and become incorporated as the
"State Bank of Ohio," each bank which sends
an arrant hAiniy a branch of the bank, and charged
. .fa . . , n. ...u :J
with the salary ano expences ui iu ngeui, .o
supposed to exercise a supervisory power over the
hunk that nnDoints and nays him, and he has a
vntn in the board fvr every .50,000 of circulation
that the institution ne represents may iibto vai-i
QinnHinor at the time of his vote. The duties ol
ihia Rnrd of Control seem to be confined entirely
to the preparing of notes to be issued by me nanus
that employ them. When a bank requires notes
for circulation, it is required to deposite in Uhio,
in United States stock or specie, ten per cent, of
the amount with the board of control to constitute
a safety fund. Tire notes are then signed by the
president ol tne Doaro 01 control, regiBioiuu auu
delivered to the banks, by the cashier of which
thnv are eountersiehed, and ready for circulation.
i. j . . .u-i i.
In putting tnem out, nowever, me imnn. io ""lun
ed to retain on hand thirty per cent, of the amount
in cash funds, of which one-half shall be specie.
Thamforn. one half or 15 per cent, of the circula-
t nn a renuired to 06 " speeie tunus. jtius
nhrnon in usually applied to bank notes on hand,
and the amount seldom or never in the course of
business, falls below hftoen per cent.: thus tne
returns of the New York banks showed a circu
lation of $18,365,031, and of bank notes on hand
$3,148,213 or about seventeen per cent., oemg
mrru thnn the reouirement of the Ohio law.
ThAra in then reauired fifteen per cent, gold or
Wtver to be kept on hand, yet the 55th section pro
r. . ...... i . jr.i, xt -vt. ti.:ia
viripn tttat sitrnt sraits" on new i uitx. x iinu-
delphia, Boston or Baltimore, shall be " deemed
old and silver wnerever tueaa lumm o.o uwu uj
ihia nrt. Hence "sold and silver" can be man
ufactured at a moment'snotice. Payuig out bills
for a "kite'i on a New York ngent will provide
nv nmonntof Iceral " eold and silver." Thus,
Ions sections of the )aw containing fancied res-
. 3. 1' J J it.
tnctions are neutranzeu, anu uic wnuiv mwii
under Vie old law. In plain matter of fact,
an Ohio Bank of $100,000 capital may issue $200,-
lOOOot circulation, ny merely paying awuy P""i ;l
fnr nhin stocks to deposite with the cierKs oi an
the banks, associated under the name of a board of
control. Several banks nave aireaay Deen organ-
new canal has been opened for navigation.
Toledo Blade.
Both Boats have gone south, the Rose in advance
and the Alfred Ely last Sunday evoning passed
suction 10 on its wav to Cincinnati. ;The canal
is now open throughout the line, the accident men
tioned in our last was speedily repaired, and no
new impediment has since occurred.
It is proposed to celebrate the opening of the
canal on the 4th of July at Cincinnati. Dayton and
other places have also been mentioned, and some
have proposed every point along the line tor sim
ultaneous celebration. It is matter of rejoicing to
all that the work is completed, and doubtless i
will be duly manifested.
To the good folks in this section it would hi
as well to consider how best to make it available
Kalida has but an indifferent road to get to it; and
beyond Myers' Mill though a road has been laid
nut m thn r.nnnl it ! not vet oDcned. Good roads
.i f r.nv.H;..l nnrtnr this law. and unless it is promptly RE
are essenuai iuio p.o... j. v. r- -- v.- .v . . . . t.rissKX
IT El&LlEJlJ UlUL UlUtC Will Ot ciiiaM-ifi".
tion of the community, and our village will never
be a prosperous business place till good roads are
opened to the surrounding country, making ap
proach from all quarters as practicable as possible ;
and the point first in importance now is a good
road through to the canal. It is not a great dis
tance and a little energy will accomplish it.
A PRESSING QUERY.
Thn itcmoer&tic thornier for the repeal of the late hank
ing law. under which banks are just now going into opera-
tinn. hna. tor some lime nun oeen avniK iwbv. n mu
round peal 1 now scarcely nenra irom any qnuner, anu
were it not for an occasional harmless squib we now and
Iimi nnp, would be led to suDnoBe the idea was al
ready abandoned. Juven tne n.auaa vemure in me ia
number to as silent ssthe grave on the subject. What doss
this all mean? Does it result from the awkward fix the state
printer, by injaneti, has placed the party in, or have the
leaders already discovered what will be certainly known
'nftar tha Iation. that the people of Ohio are in fuvor of
giving this law a fair trial, and are unwilling to throw away
' Thn lire-fist tree known in Mexico, and
the-one on which de Candolle made his es
ilmat. of the arte of this continent, is a cy
press, (Taxodium distichum,) and is , one
j j -j uti, fo in rirnimference.-i
Tim pplolirated chestnut On Mount .Etna isth ndvaotane of a safe and uniform currency that it is now,
llie ceieoratea (.ubbiuui u Mabout to afford them. Will the demoeraoy of this Sonato-
one hundred and SIXty-three teet in Circum-Hrinl Rnd Representative district abandon the intention of
ference. but is evidently composed oi nve , i , j-jji. uSSSi
Irunba , - .. . lof the Venure can inform ui. If he has the independencci
iruiinH. .. , . Bnnd nerve of his predeoessor, he will not woit till after the
, , ,. ,' , i '"' "' iMtriKtiiv convention on tne 4to oi juiy.aoao so. i.o
Atlnice 10 laaies wno nave uoou tuuioun.vj,,,,,,,,.
AiiDK-n , n -i r.lnmhn will not ehsntre
lilt WVIITOIIIliiii d
compared to which the FAILURE OF THE ST.
CLAIR BANK WILL BE AS XOTHWQ.
I a m he honed that this lauer occurrence win
1 . ... . j :
30 operate upon the citizens as to uepnve tne
banks of the ability to obtain too extended a cir
culation before a repeal ot tne law taxes piace.
Defences or the Atiantic Bordeh.
A ueneral order has been issued from the
War Denartment to. mount the batteries of
the various fortifications for the protection of
the olti
f-j - BANKREPBAL'. ) X .
Asa good deal of remark has lately bsen made
on this subject, in connection with Judicial con
trol over. Leoislation, by the Whig press, we
have jotted dowe our opinions, to keep pace with
the times '.
We view the power exercised by the Supreme
Judiciary of declaring the acts of presedent Le
gislatures irrevocably binding on subsequent Le
gislative bodies as not warranted by the Constitu
tion of the State, or any law passed in accordance
with it. A similar opinion was not lontr since ex
pressed by a correspondent of this j ournal, and
we have oh reflection accorded With its justice.
Otherwise, if the Judiciary possess the power
claimed tor them by the Whigs, we" may as well
at once yield the contest, and instead of appeal
ing to the people next October to put down this
most dangerous and pernicious creation of a bank-
ng system, we can Bavs trouble by learning the
opinion of tha Supreme Judges, and if unfavorable
remain in fettered end inactive acquiescence till
1866, at which time, if the present system of bank
ing so long escape disgraceful insolvency, power
would be in other hands than those of the people.
Cor what object the House of Representatives
was made elective annually, and the Senate once
in two years, if this construction is correct, wa
are at a loss to know. . "
The State and Free Banking law was not de
cided at the last election; it was nowhere made
an issue; it never received the assent of the peo
ple, and never can, (according' to the Whigs,) for
they have now no control over it, to aesentoreon
demn. We doubt whether the people yet have
correct understanding of its seventy-five sec
tions, and we do not believe its tramers ever de
sired that they should. Like tho Tax Law, it is
purposely obscure, end will require more than
Auditor Wood's extra-judicial decisions to render
t satisfactory. Many of the Whig representa
tives did not comprehend the manifold sections
of the bill, their microscopic vision could not for
see its results, which they distrusted, but like
dumb dogs they were whipped in to give it art
unwilling support, and they did their forced work
silently, sullenly, and mechanically. .
We know no beneficial consideration accru
ing to the people from the banking system to ren
der the " contract" of binding force. , It is true it
grants to bankers the special privilege ef borrow
ing public credit and making their evidences of
indebtedness circulate as money, but it also ren
ders the people liableto all the consequences of
bank speculation while those who enjoy the pro
fits are not responsible This, however, we should
think, would give bankers no claim.,
" Contracts" should be of equal force and mu
tually binding.' If tho State incurs a debt for
money or services loaned she can refuse to fulfil
the obligation, and sully her honor unimpeded by
the action of Courts, though bound by the strong
est moral duty to fulfil her engagement. But a
banker on whom the State has conferred gratuit
ous privileges can find Judges, with only doubt-
ful and implied power, to declare that these privi
leges binding irrevocably ! State character, hon
or, and sovereignty kick the beam when weighed
against Bank interests. And while the legislature
abdicate the popular sovereignty under the plea
of the necessity of having a "currency" of bank
ers' notes of hand, these same bankers may, af
ter having driven gold and silver out of circula
tion by substituting paper, necessarily of inferior
va.lue, refuse at any moment they please to supply
an adequate amount of this " currency," reducing
prices, and making profit by this dishonest
use of the " contract." There is no provision that
bankers ihall furnish a steady currency, or neg
lecting to do so, give way for the free action of
that provided by the constitution; they may pro
duce fluctuation & distress as often as thoy please,
and then tell a suffering and outraged people it
is a privilege of their" inviolable contract!"
Besides, to give existence to a law over which,
be the monopoly conferred ever so pernicious to
public interests, the legislature for twenty-one
years shall have no control, is an act of political
suicide, an unwarranted surrender of the people's
sovereignty by their agents. This gift of almost
B absolute independence (o corporations, if it is
a " contract" is one oi tne iunguses oi icuaai des
potism, at war with freedom and republican equal
ly. We do not believe that the sovereign power
of the people can, even by their own concurrence,
thus be placed in abeyance and relinquished for
upwards of a generation, any more than a free
man can sell himself into slavery, mad bind his
posterity by the act; much less do we conceive
thoir unauthorised agents can bind their constitu
ents tor all time; for if they have power to bind
beyond the two years limited by the constitution,
why may tfcey not resign the people's sovereign
ty for twenty-one years, for one hundred years, or
for ever. Our rights, as freemen, are an inheri
tance which we pre bound to transmit to posterity,
unincumbered with ceded privileges, unalienated
by diminished power.
A bank charter is a legislative creation abso
lutely perfect the moment of its birth, admitting
of no improvement or amendment! All other
laws which affect society those which relate to
life itselfmay be amended, altered, or repealed,
those only which relate to the pocket have the
odor of inviolable sanctity. This View might in
duce a new reading of Shakspeare the original
is not true to the modern philosophy : Thus, .
He who steals my life steals trash ; 'tis something. nothlruj ;
Twas mine 'tis his a loss sustained by thousands ;. ,
But he who filches Bankers' pictured rags,
ttbbs society of that which well enriches it, ' . ..'':
Leaving ft poor indeed I
A bank chartered to supply the State currency
is held by to a private corporation, entitled
to the immunity granted to corporations which
confine their influence almost exclusively within
the Atlantic coast. We learn that
lively engaged in executing tho order, Tbelthe eirele of their membership, such as a church
j .
married. '. . , . ihontrh w antiainntp
A woman should never take a - toverjour views P"n; B- r
thout the consent of her. heart, not a,hus-Iits concurrence and entorcem.nt o,
DO lieu miu.uuDni.i"-j - , H ...t...4 ,u t her roa-Bness. because tney are inuso gi"T
rency'of the country controlled only Wepiiwrv.wyu " . ,, iavod bv the Democracy. ' But a. the editor of
Whole-Mcomplement of guns and among
these are 42 pounders for the fortification
uf this sarrison, amounts, we believe, to the
number of liearly three hundred, constitu-
tins with the battery at lrort uainoun, a
weight of rrietal sufficient to resist any at
tempted invasion ef the fleets of the most
(ormieable JMiropean powers, a his is a pre
cautionary measure of clear propriety. In
deed, the batteries should always be mount
ed. - It , is ? very questionable, moreover,
whether there rs any savmtr, in an economi
cal noint of view, in the course heretofore
pursued by the government.-iVoioW'c J?eaeon.
or library society. To our minds an institution
regulating tho currency of the State is public it
affects the interests of all classes of the public,
and should be amenable to the State whenever its-
avarice causes it to clash with the interests and:
welfare of that' public, for evasion of legitimate
duty, and the falsification of the real or pretendod
object of its creation. ' ; ,
Theso views asserting the right of the legisla
ture or dissolve charters granting corporate privi
leges, whenever these are found generally injuri
ous, may be confined to a few, and very probably
are. They do not accord with present legal con
struction pf chartered rights. Bank corporations
Kiftirai inwR rii iru.no. '. . . tu '
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