Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1838-01-06

-. cow III. following trom.she Wheeling Va.
,,..,. n show the opinions of some OF the opop-
100, il relation 70 the BankCoavention.
BANK CONVENTION Much has already been
..;d in relation to the decision given Dy '.e
convention which recently held us session 10
New York city. As to the Josuce 81 '"a. lo-
olson we ask permission to say lew wol 90
In connection with very D1lel g.aus. .. =: INC
wise opinions which have been 50 os'en.daous-
~ .a.snced by few contemporaries both IN
the east and west.
Previous to the assembling Of the coIYen-
ZION we expressed the opinion that the liter
es,s Of both banks and people demanded not
only speedy resumption CT specie Paymnts,
hui concerted and harmonious action on tho
mart Of the banks themselves. But faiiig 70
Determine upon an immediate resumption' we
contended that they should, upon no account,
fail to fix period. however remote, when they
would resume. We did not come to these con
illusions without due reflection. We viewed
calmlv the ominous signs around Us. We
thought upon the natural dislike. aye, the ma
tred felt and cherished by one portion Of seci-
~, towards what is considered the ssaristo-
crscv ofwealth." We beheld the administfs-
lion nress in every part of the country engaged
most earnestly in the diabolical work of adj
dino fuel 10 this erroneous. this designating
impression, and fanpingi into fame, v hat was
hefore but a pickering blaze. We heard the
assertion made and repeated, that the banks
never intended to resume---that they were I'M
noverislling the people and enricflng them,
selves. We knew that the ignorant believed
and that the unsuspecting were deluoeo oy II.
w. knew that by these efforts all confidence
n the banks would eventually be destroyed.
Knowing these things, could it be supposed
thai We would for a moment hesitate! we
think not. On the contrary we felt imperative
ly called upon to express our convictions. we
did SO; and how wisely, the sequel mustit 1t
has not already determined.
The convention has adjourned without hx-
ing period of repumption. All harmony Is
DESTROYED, and for what! Because. say some
very sage gentlemen, "specle IS at preml-
um." Now, we would respectfully ask, when
specie will be ON par with inedeemable bank
hottest Will it be atpar while the banks con-
,inue to buy it up at premium of one, two,
three, four, or Ave per cent? Can we expect
4 man to exchange good specie dollar Tor
note which, for all he knows to the contrary,
NAV never be redeemed! Certainly not. The
banks themselves create market for the pur-
chase of specie, and then we are told that the
banks cannot resume while specie is at pre-
MUM.
The balance Of trade is now, OF will in ve-
~ short time, be in our favor. The rage for
speculation is nearly over. The issue oftrea-
sury notes, will render it unnecessary for the
government to pay out specie to any longer to
the members Of Congress, consequently the
demand in that quarter will cease: Yet we
are told the banks cannot resume, and the wing
press in some parts of the country approve the
saying.
Far be it from US TO impeach the honesty Of
the banks, or to impugn the veraclty Of either
bank directors or our wing contemporaries OF
tho press. But, until evidence to the contra
ryi is adduced, we must believe that little too
much care is evlnced, too tcndor a-tcSora rvs
what they IMAGINE to be their own interests Is
manifested; to the prejudice Of the interests o.
the people, and the permanent credit OF the
banks themselves. Every day that resump
ton is delayed, renders more dubious, mor'
questionable in the minds Of the many, the
bility Of the banks to resume at all. How I'm
polite then, the course pursued by majorst.
Of the delegates to the New York convention
But we caanot dwell longer upon the subjec
at present. The following paragraph whic
can. will afford a just conception Of the dissa
tisfaction which the conventions decision ha
given even to jealous wing:
1--WE conclude then, with reiterating the 9
pinion expressed yesterday, that there ere
mains now but one course for the banks Of tn
city and state Of N. York--ttat Of holding
separate convention. and agreeing for them
selves upon fixed day, which should not b
later than the LIST April or the LIST May, at tn
very fur.hest, for resuming payments.
sit can be done---it should be done--it mus
be done.
The New York Courier, in an article on tn
same subject, says that the banks in the stat
ofNew York will, without doubt, resume spe
Gle payments before the LIST Of May ensuing
the period when the state law legalizing til
suspension expires--unless, in the mean time
the sub-treasury bill should be passed BY con
gress.--l Wheeling Gazette.
FRANKLlN's ADVICE TO EDIToRs.---1n tn
conduct of my newspaper, lcarefuily EXCLUDES
all libelling and personal abuse, which has Q
1xtA hecomn on dia0racof,1 ~ nur rc,,c%r~