Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1843-09-08

"THE HARD MONEY DocTRlNG.''-Undes this
caption the Maumee River Times has lengthy
article in which the editor labors very hard to
prove something which is known TO himself,
probably-though we very much doubt wheth-
er his readers can discern any thing else in it
than mere slang and verbosi,y.
The editor attributes all our prosperity. in
dividual and national, to the operation of our
blessed system Of banking! With equal
sense and truth might he contend that the peo-
pie of this country are indebted for the advan-
ces thoy have uoodo in improvement, wealth
and civilization, to the existence of distileries
and gambling houses. Il will require some-
thing more potent then wing logic, at this en-
lightened day, to persuade the people Of the
United States that they owe their prosperity
TO the frauds and crimes of the banking sys-
tenn.
But the writer bases his chief opposition to
8" the hard money doctrine" upon the false n.y.
pothesis that the democracy are for "a specie
currency, and no Credit That the democra-
cy are for specie currency we ardenty hope
and beieve-but the assertion that they are
the foes Of credit is a Islander and falsehood.
We repeat now, what we have said on for.
mer occasion, that the only true friends Of
sound and honest credit system are those who
oppose the vicious and diseased system of
bank paper credit. A correct and we'll formed
credit system, is as directly opposed to tina,
which Is derived from the existence of bank
ing lncorp orations. as christianity is incompat-
IDLE with heathenism. No one who knows
any thing about the practical operations of the
banking system, ever suspected that, as gen.
eral thing, credit facilities were open 10 "the
poor young man, just embarkiog in business,
n hat IN ~ nf -
est business, received any benefit from them.
The sharper, the speculator, and the wealthy
profigate, including the bankers themselves.
are those only who are the peculiar recipients
Of bank credit favors.
Do away with the corrupt banking system.
and the wealth, which is now chiefly monopo.
lized by those who are the dead weights of in.
dustry and integrity, will be disseminated
among !hosc who deserve and earn it :. by the
sweat Of their brows." The true credit avs.
tem-which is founded upon the honesty and
ability to pay off those who require twill
then rise upon its ruins. Then Il young man.
or middle aged man, or an old man, could
always command credit Of his more opulent
neighbo., provided he had established repu.
iation for industry, economy and integrity.-|
There IS not one man out of hundred, in the |
United States, who has succeeded in any hon. |
est business from aid derived from Banks |
while thousand and tens Of thousand have been |
broken in hope, in spirit and in fortune, in
of the mutifarious evils enpen-
dered by this system.
II the stupid advocates of bank paper, should
all live two years longer, they will witness
The indignant reputation of their heresies and
humbngs BY nine ten,hs Of the American peo.
pie.
The Third annual Cattle Show and Fai: Of
me Illinois Union Agricultural Society. will
commence al Ottowa on the Goth inst. and coz.
inue three or four days. As they had such
splendid and successful time last wear. and
Is the interest has been increasing, i, is pre-
'umed that ten thousand persons will be pres.
INT, and that the sight will be magnificent.
Cant some Of our Hawkeye Farmers attend
+! A Free Dinner 10 to be given. and the
arge tent which will seat $500 persons has
'esn purchased by the Society.-Hawkeye.
We learn from the Cleaveland (Ohio1 plain
DeaIer-an excellent democratic paoer. by the
Mr.. Giddings, the member Of Con.
!ress, has been trying to unite whieperv and
lboIitionism, by urging the latter 10 vote for
clay. the Shareholder! He met win mo-,
uccess at CIeavelaud, and went home with .
lea in his ear. Wv"