Iowa territorial gazette and advertiser. [volume] (Burlington, Iowa Territory [Iowa]) 1840-1846, 1842-11-26
BANKS AND BANKING.

that thelr schemes o! ijanking are unpO-
pular and will not be countcnunced by the
people, have attempted TO father those
schemes upon the Democraies. They
| are endeavoring to show that a minority
Of the local and State banking institutions
in the U. S. we've chartered b. the Dem
ocra,s, and at the same time to convince
the people that National Bank would
operate entirely different from the other
systems, that it would produce uniform
and sound currency aud revive the pres.
ent depressed state Of business; in fine,
that it would fill every persons pocket
with money.
In regard to the first point, we consider
it necessary to say bat l.ttle. The PEG.
pie are too wei! acquainted with the his.
tory Of making bank charters TO be led
into error in regard to who were the orr
gina'ors and the supporters Of these
schemes Of swindling; and that history
will most eonclusvely show that the
Democrats, as party. are not guilty OF
'oadng the community with misery and
want by the charicring Of such insti,u-
tons. That there are some, who claim
to be Democrats and who have acted with
the democratic party, that have aided in
bringing nore or less OF these charters
into existence. we do not pretend to deny !;
but that the party as whole have ever
advocated the cause OF the banks, or that
they have approved Of the course pur-
sued by those who have aided in eslab-
fishing such schemes Of swindling, is not
to be found in the political or banking
history Of our country. How then, for
saoth, do the Wings attempt to show that
u majority Of the local banks have been
|chartered by the Democrats? Why,
they put down every bank, the charteyo'
which received the single vote of u dem
ocrat-w whether he was SO merely by pro-
fession or not--as a bank chartered by
that party: for instance, they put down
the Louisiana banks as being all charter
cd by the Democrats, when i, is notorious
} that the Wings have almost always had c
majority in the Leg islaturo Of thu, STATE!
Why then place these bank charters on
the democratic list? Because say they
the votes Of Democrats secured their
passage. Admitting such 10 be the case
in two or three instances; how, lei ns
ask, was this effected? Why, s;n,,ll.;, as
follows: \ few Wigs perhaps would not,
y Tor some local or personal cause, vote in
e their favor, while some two or three,
processing TO be democrats, were induced
through pecuniurv or ambitious motives
TO sacritise the principles which they pre-
tended to profess. and by uniting with
the body Of the Wings secured their pas
sage, aud these the Wings have the as.
surance to place among the banks char.
tered by the Democrats. Again, all the
banks in Pennsylvania and Michigan are
put down as being chartered by the Dem
ocrats, when It is known by every per.
son who knows snything about the his
tory of these institutions, that the char
ters Of nearly all Of them were introduced
into the Legislatures Of those States by
Wing members, ard that the whole DO
dy Of Wing members, with one or two
exceptions Ia few instances, voted for
them They have had the assurance, too
to put down the U. S. Bank Of Pennsyl
vania as having been chartered by ths
Democrats, when it is 4 matter Of uotori
jty that this charter was concoctcd by
the Wings and voted for BY the whole o
the Wing members Of the gls'ature -
The Democrats, it is true. had elected
majority Of members TO tina, Legislature
but unfortunately for the country, G9e o
their number, like Judas of old, saw more
charms in silver and gold than in prin.
cipe, and beiraying those who had placed
them in power, united with the wings and
forced that charter of denominations upon
our country. That any person has the
ef1'rontery to deny that such is the case
we are panied to admit. Who is there
that does not recolect the course pursued
by. Penrose, Irwin, Burden. Dickey and
Cunningham, who have ever since the
passage OF that charter not only acted
with the whig party, but have been re-
warded by the, Wings with offices for
their traitorous course.
We're it necessary we could instance
numerous other charters that have been
passed by such manoevering, and which
the Wings have the assurance TO put
down as being chartered by the Demo.
Gratis, but we believe the people are al
ready sufficiently convinced us to whom
!! they are indebted for these swindling in
stitu,ons.
Tha. the establishment Of National
Bank would at this day be a measure that
any party would advocate, we are truly
surprised Il Nor niy she people have
!! decided akajnst such an institution but
many ~ ihos who were once its warm.
a est aAY1cetaf ~ boz most bitterly oppos-