On Friday, I mentioned that Ohio had a tradition of resisting central banks. The best known instance of that resistance was the action of Ohio Auditor Ralph Osborn in 1819, when he seized $100,000 from the two branches of the Bank of the United States in Ohio in collection of taxes owed to the State.
While his action was overturned by the Supreme Court case of Osborn v. Bank of the United States, Auditor Osborn displayed a courage against Federal intrusion that has rarely been equaled in Ohio history.
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