Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1837-06-03

rh;cb seems inevitable to imPend over them.
THE hotter feeling. as we said before, IS daw-
10 ferreu,ly TO be wished that Its effects
may soon be visible.
F,osa the Banker's Circular.
..yu. sh,lI state, that the advances from
tho Rank will be ample TO secure IN e punc'u-
Al navnen, Of all bills accepted by the Anne
r;can merchants. The guarantees for the MN
alluded n in the foregoing article, amounted
~ Wadnssdar. 10 900. and THURSDAY $
ne, swe,ied the amount 10 100000: there
fors ,b., sum at least will be placed at the
DISMISSAL Of the firm III question:.
..usar ~ the bills drawn in America upon
ia harsss seeking relief from the Bank. must
-. ~ ,sf,ssI sccentance---fhat being part
~ tic ohl;g,,;os to which they have subjected
themselves. IN order 70 secure me supP'ls.
from the Bank. And as this might cause g.sa'
loss ami emaziIsss . I.sI...an.s, -.
Bank Of England. VIII. We understand 5ran1
q credi; aHasua,ing TO a2aoe-ooo TO the BANK
of the United Sssses. to facilitate the sScnange
o,sr,,i,as heiweea the two countries. This.
nader ex;s.ias circumstances. Is measure o.
shs.l,.e ,4cessity; and il has been most
.roa,o,Iy and jadieioasiy determined upon, as
E, - nossiIb,s, between the Bank Of England
a.d ,ba houss Of Banng e. Co.. acting as agents
f,r the Bsak cfthe United States.
..Noney ism brisk demand. aifall rates: suf
hen The aforesaid relief has begun 10 oPeF-
alto. there will no longer be the pressure OF
scarcity"
Speaking Of these American houses In the
city. the Circular says:
Mex, corues the question concerning the
extent OF these credit and money transactions.
There have been for several years FIVE or six
leading and principal firms engaged in Ex-
change and loan and credi, operations with the
Tinted States. The most eminent Of these
are Messrs. Brown & Co Of Liverpool, Messrs.
Barring Co.. r. Wilson L. Co.. George Wildes
& Co. T. Wiggin & Co.. Of London. The
success of these firms in this new branch Of
trasfic--nex in itsextenI and raEni;icztions. and
inportance-has lat,erly brought other Arms
into the same field. and the house Of Roth.
schild & Co.. Lizard L. Co.. and Morrison
e. Co.. have now entertained with great con-
fdence and spiritinio competition with Older
houses; we do not say that all these hous-
es are newly sprung up, but their course o.
business in this channel Of traffic is either new
or vastly extended. We have heard of bills
anulnting individually to Eco 900, CSC, 1000
and as high as 10000, being drawn upor
one or other of these las, named houses. We
repea. that the course of business in this de.
partment OF their trade has been singularlv safe
and extremely profitable; and the extent te
which il has been carried is naturally large II
proportion to the advantages derived from 1t.
st is Of the greatest importance TO all who
are much concerned with pecuniary and cred
il affairs. 10 ascertain the credit afoat in this
channel Of business; and if we stated the col
lectiye amount of bills rnnning at one time up
on the principal American houses at from nine
to twelve millions sterling, we should not state
il higher than every national inquirer would
admit we had good grounds for doing. And
the facilities, the security. and the
profit Of this kind Of business, it is astonishing
mot that thecTeditin circulation ;s sclarge--
but that i, should not. in the course of eight o.
ten years of unchecked successful operations
have amounted to double its present sum.
Thus has the bank of England, by It's mar.
row-sigh.ed subserviency to the government,
raised up power tha, now fills them with a.
larm. By foclisbly making money cheap, and
and keeping it low value. they inyitei the
Intelligent people Of America, or those con-
nected with the United States, to transport il
to places whereit was sought with ayidity a,
a much higher value. as well for public works
as for private enterprises. The Bank Direct
ors have done their best to raise up and make
formidable the only commercial state that could
en,erinto successful rivalry with England"
HARD TINES. HARD TINES.
Every DO iyis cryiag out sshard ,imes''-the mar
with his thoIsanag, aad tn, man with his shilling
Esen the msadicaai, who was ns.er known IN
have DO lar IN bis life, takes ad antage Of the
o-rassoa, and cfies ssaard tifnes,' with as mnct
gravity as II ne wese president Of Nick Biddle's
baak- by the way. Bddle is very silent Of late
Wills the ba!ance Of the world are in distress, he
IS reaping harvest of high per cents. Every
Inan has his o.n reasJs for this state Of affairs
Curse tbs Trashy Circular, saysthc WI g-down
with m0nopoilcs, says the demorrar-d-n Gen
Jackson, says oae-ou, upoa the specie currency,
say nnother--lom Benton should BE- hung, shout.
fourth: what's the world coming 10, says diih-
why, says the BALANCE, '.hard times, hard times. .
we hare aiTeady arrived at tina. point, cries wag
the d--i himself Gould not put the crews 10 u;
tighter than they are. 1, is amusing to watch the
current of reasoi,g on this subject; but as every
body IS NJ liberty 10 give their opinions in this irse
coinisy, no ma IN done. aad lee, we he considered
aristocraiic, we shall give our opinion 1000 hi
OF mis', here goes
In The first place, discovery has been made
heretofore eaknowa to political economists, IN wit
thai living is 70 be obtained aid fortune made
without labor. And bow is THIS TO be doas! Why
says tas alchymiss. By Speculation. Borrow mo
ney at 8, 8, and 10 per cent, invest il in public
lands, and before your notes become due for ihs
money borrowed, sell your land for double its orr
ginal cost, psy up your nots 10 bank, and poke
The one husdisd pei ceat Who made this discoy.
cry, OF precisely nj what lime il was m AIDE known
we cannot say; but il has been received and actes
upon as s,andard axiom for the last fifteen o
twenty yeaY. This discovery had not been mad,
public long, when Il was further discovered thu
money was hard 10 be borrowed, and acccmmoda
lions of thai kind could nor be obtained by all tina