Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1837-09-16

world 1.-The charge of treachery now made by
!he wing press of the north against him---the
lnYldlous assaults at-this ::.cnon: being made
on ms reputation by the slaves and mercena-
rles OF Nicholas Biddle---all commend him TO
the mass OF the people as liberal, patriotic
ana enlightened statesman. So far as | re-
member The tenor of his letter, concur entire
'ly in Its tone and spirit, hut cannot adopt the
remedy ne suggests---the recharier of The Uni
ted States Bank. That proposition will never
receive my vote
l will, however, take my seat in Congress
with the conviction that something mast be
done Tor the country---some financial system
must be adopted. am free to confess, as |
ever have, thatthe present system of deposi-
ting the public moneys is bad one, OWING
to the multlform character of the charters. and
the rotten condition ofmany ofthe State banks.
Those Institutions, too, fostered and strength
encd by the use of the public funds, are slim
uated to extrayaeant issues, and nine times
ont OF ten become the mere instruments ofspe-
culators, or the engines of political factions;
thus rendering themselves obnoxious to the
very same objection, so justly urged against
the United States Bank. am no fnancier,
nor can undertake to predict tho character of
the measures that the Executive will recon-
mend to Congress. That they will be conser-
yative and salutary, there can be no doubt
Mr.. Van Buren, is statesman of patriotic and
comprehensive views. He well knows the ac-
tual and suffering situation of all classes of the
the necessity-.-the absolute
necessity-.of adopting some plan for the relief
ofthe country, the restoration of confidence in
the commercial world, and the regulation of
the currency. Whether he will recommend a
national bank, sanctioned by an amendment
ofthe Constitution, to be owned jointly by the
States and the Federal Government free from
foreign influence and executive control, is not
for me to determine. have good authority
for believing that Mr.. Van Buren, does not run
into the ultraism of an erciusire metallic circu-
latlon: nor do know any prominent member
OF the democratic party who cherishes any
such Utopian vision. | believe that Mr.. Rives
IN his admirable speech of the last session of
Congress. truly interrupted the opinions on
the currency of nine-tentl,s of the friends of the
His views were sanctioned
and sustained with extraordinary ability by
our own distinguished Senator, mir. Walkcr,)
and by other gentlemen standing equally high
in the estimation the Executive and the coun-
try. feel bound, too, to say, that Mr.. Ben
ton is misunderstood or misrepresented on this
subject. The people have been induced to be-
leve that he was determined to annihilate our
paper circulation at blow, and to substitute
nothing but bullion in its place. This is all
electioneering slang, employed to traduce a
great man, and TO embarrass the administra-
ton. Mr.. Benton is engaged in great reform
1.-THE REFORM or THE BANK ABusEs---and the
history OF his life proves that he will carry out
his mighty work, in despite Of detraction and
ridicule. His great principle is to diminish he
paper, and increase the specie circulation. He
would break up the rotten system of banking
on fictitious capital which prevails in the State,
and substitute the precious metals for the eve
ry-day uses of trade, with paper for CONNER
cial purposes, convertible at any moment in
to gold and silver. The only difference be-
tween Mr.. Benton and other distinguished
friends of the administration. is in the time in
which this salutary change is proposed to be
accomplished. AS an humble member Of the
party, believed he was inclined to affect this
amelioration in the currency at too rapid rate;
believed that bank or fiscal agent Of some
kind, proceeded by an amendment ofthe Con-
siitntion, might be necessary for a few years.
But from the Developments now before me,
from the whole tenor of the opposition press,
Which, for the first time in two months, Illave
leisure 10 review, am satisfied there is de-
termination in the bank party to force Nicho-
las Biddle, and his Infamous machine upon
the country. Not satisfied with the willing
ness ofmany democrats to surrender something
OF theory, and to put in operation for a limited
term, national bank, to bring about re-
sumption Of specie payments---not satisfied
with this compromise, they charge the Execu.
tive with having brought ruin upon the coun.
try, and demand, as the atoncment, the IN
conditional charter Of the late United States
Bank! This atoncment will never be made.
The price of apostacy will never be paid fol
their support. The democracy Of the Union
will unite, and carry out with Irresistible ener.
gy the work Of reform. Their State Legishu.
lures will search into and expose the heartless
and fraudulent proceedings Of those corpora.
tons, chartered for the beneftof the commu.
nifty, that have been monopolized by Shyocks
Spectators, and commission merchants. Can.
gross will commence ils duties by reducing The
taxes; by razeeing the revenue to the wants o.
the Government, and by taking every necessa.
ry step to increase the circulation Of stand.
ard and uniform currency. That party which
arogates to itself all the wealth. all the talent
and all the deccncy, will soon learn that the
moral energies ofthis nation are not vested ex-
in themselves, but in that great mass
who derive no practical benefit from monopo.
lies Of any kind. The people are rapidly be.
coming sensible Of their own power. The
workingman, the small farmer, the mechanic,
is gradually assuming his proper station in So
cieiy, from which he has been heretofore ex-
Guided; and, for the first time, our professional
orders and mercantile nobility are beginning to
hnoW that this is a Government of EQUAL
RIGHTS. 1t is the commencement Of new and
fortunate era. It has been brought about by
the spread Of knowledge, the spirit Of free in
gniry, and the excuses Of those that have for