New Ohio Banks

The Ohio American, published at Cleveland, refere to our advice to the farmere of Michigan not to receive the issues of tho new banks of Ohio in payment for their crops, and mys, in reply to our objection that no personal reeponribility of the BtocklioMera was inTolved: - "If the stockholders are not personally held for the redemption of the notes, the State is, for the issues are all based upon State stocks, pledged and depoeited for secnriiy to the ful! amount, and more we believe, of the bank issues. Jt eeems to us that this kind of security is niuch more tangible, and Jeg Hable to sequestration than the individual property of stockholders, wliich may po easily "take to itself wings." Of one thing, a' leas, vi e may assure our friends of the Signal : The bilis of our new banks wilJ be as good as the Michigan money which at present conetitutes so large a portjon of our currency. ' On this we remark, that it isa confirmation of what we said that those who are to own the banks, who are to issue the money, and profit by lts circulation, and have the wbole control of tho business, are not held responsible in their property to ony extent for any lose Ihey may occasion the public by their misraacagement orfraud. Our reason forrefueing their issues stil] holds good. But we have hcre an argument to show that the responsibility of State Stocks" is better than that of indiv'duals. As we havo not the Banking Act of Ohio before us, wc ennnot go into particulirs here; but we wotild refer to the lessons of experience on this subject. In the State of New York, a Free Bank syslem has been tried, with issues based on State Stocks. And what is the result? - Says Nïïes' Register: Thereare now smenty banks in the State inder that law. Ttcenty nine that commenced operation have been closed by legal procesa from the Comptroller, and ten otherp have been wound up by their own stockhold ers. What losses have been sustained by them in these cases we arp not aware. As n new system, its resulls so Jar teem to afford no certain relief from the evil to tchich the vla syslem of banking teas Hable" Thist certainïy, is poor encouragement for tmsting the banks of Ohio. Of 110 thnt comoienced operotion, almost one third within a few years from their commencement, failec! eo gropsly in meeting their liabilities that the authorities of the State compelled them to top business to save the people from lops; while a considerable number found the business so unprofitable that tho association voJuntarily dissolved. As to the goodnes of 'the Michignn nioney," we are not disposed to praise it ve;y much. Out of eome sixty banks we have but fonr remaining; and conPdence is much mpaired in three of these. If you ennnot dt letter in banking than the people of Michignn bave one, we want none of your currency.(L?" We notjce that Mr. Green, the reformed Ganibler, was to lecture in the Firsl Prcsbyterian Church in DnfTHIo, on Sunday. Jnne 8, nt half pa6l Tour. So il neems that in Buñalu a Presbytcribn Church ie none too pood to 1ípc)B9 gomblin n, and Jw Sabbnt! is none too hol y to be ueed for eoch a purpope. Ie An'i-pnmbling nny worp nearlv a! licd k Religión than Anti slavery?