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will be that the public debt is gradually incress
ing. The Governor makes very sensible remarks
in relation to the banking system Of the State ard dec
dedy condemns the establishment Of the free banking
systam He says that Of all the schemes for banking
which have been devised that is the most objectionable
and the most dangerous in M tendencies the indepen
and purity Of the government and liberty Of the
people proposes union Of Bank and State the for
nation of coalition between organized and combined
money interest and the civil power upon which the peo
pie depend for the safety Of their liberties" We annex
some extracts from the Message this subject on &C.
count Of It's importance at this moment =


The Investment Of the capital of the banks in govern
ment securities would be shield against fraudulent
Brokers in New York could purchase stocks upon credit
upon which to establish their hanks and then lend out 10


which oanaes q for s7 the
ton the banks can manufacture the means OF creating
nsif Twn osP.s I one dollar Of actual


Inc investment OF the capital in government securities
urged under the plausible garb o. security to the bin
the credit ofthe government pledged for the redemp


on othe French assgna and and vet these pa


on demand in specie and 's &C.
to the country The notes Of the Bank Of England have
b always en- sec ,scursd BY pledge Of the national wealth
public debt yet this bank suspended specie payments
and continued In state Of suspension for twenty.
three years at one time and s paper fell below TWENTY
FIVE per cent discount. An accumulation of rovernmert
securities, pledges Of real for the ultimate re-
dempon Of bank paper never secnre Il from depre
cist'on Nothing but certainty in is punctual
perfect commend, and nsng Il only on short loans on
strictly commercial paper can keep pafer money within
bounds, and prevent its depreciation.


In alludns to the decrease in the banking capital and
banking operations In the State the Governor says that


sncs the enchantment Of bank paper has, in measure
OF the fact has become that the prices Of
our commodities in Ohio depend upon the prices which
they will commsnd in the Atlantic cities and elsewhere
and not on the profusion Of the paper bubble When
wheat will command dollar bushel In New York II
will commend proportionate price in Ohio, although
there be not dollar Of bank paper within the limits Of
the State Gold and silver now abundant in the Allan
tic cities and the value Of II exceed the worth Of
the currency with which products are now pur-
chased more than the cost Of transportation