Iowa territorial gazette and advertiser. [volume] (Burlington, Iowa Territory [Iowa]) 1840-1846, 1843-01-14
TIlE DU BI,NuE BANK.


OF the iIoase has introduced bill for III
repeal orthe Charter Of the Du Buqu
Bank. What will be the final action O
tic Legislature upon this bill, VIC arr
anxious 10 learn. That tie Democrat,
members will so enmasse for the repeal
we have no fears, but that there will b.
found majority in both Houses in ,.vo
OF the repeal sc have seric.s doubts.
Experience has shown mat the wings re
and always hav3 been, the friends Of cor
Pora'e n.,nopolies, and that they are al
wa:'s ready to lend their aid in shield
'ag them from the law. That they vii
~ the present case so act we are led I,
believe from the debate already had upor
the reference Of Mr.. Rogers bill; ant
they and the mongrels, il is known have
the majority. What coarse these latte1
species o! legislatorsl!) will take will b
determined by that Of the wings, fol
with them they have acted and with then
it is NEE, they should act. else they would
no! be true 10 ,ncngrclism.
That the charter of bank should
be repealed, and she compelled to WING
Up her affairs, are steps that should have
been taken long ere this. The Bank has
iro.., the very commencement Of its ex
istencc, done more than any thing else
10 'njarc the financial standing Of the
Territory. The very first act she com
ml;,ed was fraudulent, and she has gone
Oil heaping fraud upon fraud, until the
mass Of corruption has become so grea,
that it needs legislative aid to prop it up
How. let us ask, has this institution been
managed? What benefit has the people
of lswa derived from lis existence p
What has been her standing before the
public? Ii is q matter Of no;oriety iha,
the owners Of her stock ale principally
non-resIlcn:s. That few brokers in
| ST. Louis, Instead Of the terms Of her
charter and tho Territorial Legislature
have been her guide-boards OF action
That she has never been in situation to
,ace' her liabilities from the day she com
. n!vnced operations. Tina, her notes were
never more that barely passable-never
ii. par-onc hundrsd. miles from the bank
ing house. Tia; those few Of our citi.
zens " no had confidence in her sufiicen,
to receive her bills, have been compelled
first ard last 10 put them off q: a very
heavy discount In this city il is true
bat very few allowed themselves to let
, their confidence make iEroads into their
pockets, for, from one nlailto another,
lie :.epoits Of lis standln. at home were
50 char. ,~able as 10 prevent almost every
ON, iron, dea ling in such worthless trash.
This Bank. 100, being the only one in
he Territory. ~ zen the representa-
tive oi oar financial ppa 'a.!ons abroad.
aud that such representa-. on las been
any thing bat a favorable oae, we ssaup'
not but that ali will agree.
We have asserted tina, the stock Of this
bank has been principally owned by non
residents, and that this is matter Of no.
torie;y. We have heard it int!mated
and from source 10 be relied upon, that
Should she succeed in holding Or to her
charter, not only foreign capitalists but
a foreign corporation that has already
swindIed the people Of the West out Of
hundreds Of thousands Of dollars, will
hereafter be the godfather, and direc:
her operations; and, that instead Of be-
ing Territorial Bank she will be but
mere tool Of more extensive swindiing
shop, situated in one Of the States.
II is we'll known that we arc opposed to
banks in every shape; that we arc oppos-
ed tot them because they conflict with our
principles, but we are particularly OPP.
posed TO boistering UP rotten institution
whose whole career has been one Of fraud
nad corruption, and for tins reason we
have been induced to make the foregoing
remarks We hope that whatever may
be the course oil tho democratic mem
beers Of the Legislature in this matter,
they will one and all go hand and heart
in Kidding the Territory oil this nstilu-
ton; and, tha, il it is permitted longerto
exist, the wings and mpngrcls may be
made 10 bear the possibility.
ILLINOIS. "A relief law has passed both
branches Of the Illinois Legislature.
\ bill to put the State Bank into liaui-
lasion has passed the House Of Repre-
b, vote Of los TO s.
The Hon. Tho,. G. Browne, Associate
Justice Of the Suprems Court, and Judge
Of the 9Th judicial circuit, ls on tria! be-
fore the House Of Representative; tor al
legged incompetency. The charge is In
stituted by the members cf the GalenaI
bar.
The n mn,ls Inhn q R.nnnt+ ia 1nct,r