Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1837-06-24

hsvo,d their means Of paying; and our exemption
,hev cav. ia owing to the Specie Circuiar, wnlch
drains the gold and silver from the East, and dinu
ses Il through the West among tne people ana .ne
banks, enabling them to mse. .',s,:
a,d redeem their paper, and lmpait1ng iiie anu VI
49, - b,,s;ness of every kind. How reckless must
r. ,he ma, VINO would blast the unparalleled pros
,s.;,,, ~ the West, out of blind devotion to ms
49,, o hos,ilitv TO the administration whose mea-
sues have caused il. Yet the journal ana Amos.
avery other Federal print in the country, are 'ooa
IN their denunciations OF Inc Spseie ciieua' au
imperativeiy demand It's fepeu, az go .hs
dc s,,ov our prosperity and bring misery upon the
o,,,,ry f,r me sake of veriyi's TIE iaiss p'es's
,;,s thew nave been King for the last elgnt
Of the effect the administration ofGenssai acksoh
| would produce upon the country.
Observation-Disclosures Ritner has refused to
convoke ain extsa-ssssion of the Penasyivania Lee
p;slature. to take into consideration the s'a.e u
mo-, Az ra .4ers a. this Crisis " extract from MS
| Prociamation On the subject, the following souna
and sensible reasons for the course ne mas
nroner 10 ADOPT. Amer. Constellation.
s.p.c,.s. all the measures which have baen pro-
noa.d TO be adopted by the State Legislature, 70
meet the emery ency, would, iii my opinion, rathef
increase than diminish the real diftcuites OF ouf
| condition. f a,,o
ssauthor;tyto the Banks to issue notes q deno-
,ainptions less than fire dollars, would DC 'ne IN
Fiction of great permanent evil, 70 ai,esla'o
temporary embarrassment, ana Woui.' o.'sJ -
.hI,;,.o, q, the lower denominations OF circu-
latinp medium for the higher denominations " 'us
same. without Withdrawing any OF the ia'ter nom
ci,c,aton or giving the one any stronger Claims
:, ,,,hl;c confidence than the other, tneleoy M
creasing the aggregate amount OF oahn -.
mt increasing the amount of specie or properly re-
e,entsd and thus inevitably deprecla''ng .hs a..
tual value uf the existing rep:esen'at.'s III
s.TIe ofa la,o to SAFE the forfeiture Of the
charters, TO which the banks will become suhlect:
hv continuing to refuse specia for their notes, WOMB
onIv increase and render more lasting the miscnie''
The Instant the result would in all praoliity pe
vast and runous increase Of the BANK no'e eiteu,a
tion-a correspondent diminution OF It's real saiue
Ia dangerous facility of Obtaining oahN ioalis-a
sudden rise in the nominal value OF all xmas
: otv, f,rther increase of the mad spirit OF spe-
: cuaton-and finally, the mourning OF eai anou'I
of d.ht which must afterwards be paid IN hafd mo
+ Nov dollar for dollar, to the ruin OF thousands.
tsYhe massage ofa Ian for the stay Of eTeeutto''
in case of deDt besides aggra.atas inc esl, Juss
named, would accustom our CITIZENS 70 o'si '.'
!. for the obligations OF law and fof punctua
. their dealings, anu would beget fimliarity WI"
" the dependence of Indebtedness, wholly lncohs's.
font with the character of Pennsylvania citizens
GEN. JAcxso Ms ISso LvENcY.-Our readers
will do us the Justice to remember that we never
care nnblicity TO the r,mor of Gen. Jackson being
- bankrupt. We did not do it, because, as we nave
repeatedly said in private conversation, we snoul
i reeet any unforeseen accident which might feducs
n Ihim to want in his old age, &C.
rumor of his having draft protested IN TINS Guy
or of his losing large sum ofmoney by ths iailurs
~ ofYeatman. Wood T. Co, of Nashville, or in any
10 other way. is utterly without fouadation. We have
~ seen letter from the old General, III which NJ
~ saws that for tcenty gears he has not drawn dfai
he upton any person whatever; that ne IS IN no wa.
~ responsible 10 the of dollar, for any per
~ son or pefsons except for the purchase ct two
~ three slaves by his adopted son; and that all tn
r,mors in relation to his drafts, his endorsements
and his losses. are entire alse and without the shad
ow Of foundation IN truth. 1t affords us pleasure
make this statement for theeasons before assigned
No and because as retired Executive OF tae Unite
&C States. we hope his days may be ended III peac
bv and prosperity-[N. Y. Couf. g. Eng.
,c- Ter,suRy C1RcuLAR.-Mr. Secretary Wood
of ,r has addressed circular to the cashiers oi IN
suspending banks, asking an explanation OF IN
causes. &c. and notifying them that no tarthe
daposites of the public money can be made WI
he them. if they have actually suspended. Inc -
cre,ary Informs them that he will draw out he Ilho
of deposited with them, oy warrants ana transfer
reasonable in amount and time ofpayment--whlc
o = "a expected that the banks will meet i'll sati:
No factory manner, among other reasons s'to eSone
ng ats themselves from injurious, inevitable and vi
~. ~ nl.asant consequences The following querle
&c, are propoundcd for early answers:
ed lst Whether you expect to resume spec'e pay
Az ments soon. and what mode you propose 10 tax
n fully and seasonaby to indemnify, secure and 81
M t;sfy the government and the public creditors Il
lis any breach ofyour agreement and bond!
,as 2nd Whether, if you do not expect 70 resun
ip specie payments soon, any particular Tins Tor
hereafter has been yet decided on, and what sp'
has cal efforts arrangements you Intend 20 MAKE
NJ that very important object!
the SreAMeoATs ON LAKE ERIE.-Ihero nre no
,ch ON Lake Erie orty-t,ro steamboats, in active en-
ployment Besides these, are six ye, unfnishe
its which will probably be running before fall.
the 1925, the Superior the only steamboat on Il
ell lake.
am OF the profits made by these boats one can Juds
INK by the following The James Madison, sple
it did new boat left here Oil the 23th for Chicag
to- The Gazette, printed al Erie, where the boat
IS owned, says she will clear this trip, S!p,0O0
~ What an idea do these facts convey of the bus
de- ness done OIL Lake Erie. 1t is yet in its infancy
nl- what will it be when the immense and fertile nell
on Of the west are lhcky settled, as they will De
me long?
ing Let any one stand, as we have done day aft
,ef dav on The wharves and see these boats and file
of sail vessels, loaded to the waters edge With pa
say sengess and goods all bound that western cou
IS try which must, from its wants and position, pa
the tribute 10 this place. and ho will not think Our
Don pectatons of future greatness too sanguine.
the s9~--ss Buff. Com. ADV.
ties New JEnsEY.--The Legislature Of this sta
0n convened a. Trenton Yesterday, agreea6,y to Il
call of the Speaker Of the House. The House @
eanized and adjourned over till to-day, many