The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1844-01-12

Ui,cou.i; Nspnry---Our Positio"'
On several previous occasions we called 'he
attention Of our readers to the issues Of the
Wisconsin Marine & Fire Insurance Company,
and gave such nm expose Of ita operations as we
,,ere enabled To- do by the information IN our po-
Session The readers Of this paper can Judge ior
themselves whether the remarks made by Us are
of sn,Ii lent weight to have an influence with them
in CHECKING the circulation Of 10 paper "hal
wn have said respecting the paper Of this lns'ilu-
ton was not prompted by malice towards The pre-
s.leut of the concern, or those employed III Ms
MANAGEMENT; nor were we aclua,ed by selfish
feeling towards the prosperity OF ncIshpolhS
ciiy, whose "JisHsgs men" apparently, 80 much
desire the welI.bcng Of the inslitulon-but were
we trust, governed by higher and puTcr motives,
ana what we have said on the subject was given
TO tho public free ftom prejudice and WIN
sole desire to protect, rs far as our limited IniIu'
enee enabled us, the conGJirs aud unsuspcctng
portion Of our fcllow.cilizens from sustaining loss
anI injury by the explosion of the institution IN
question.
The northern portion Of the state OF Illinois de-
oonb entirely for it's prosperity on the successful
cultivation Of s soil by the hushandman, and
whom he finds good market for his surplus pro.
duets, nnl exchanges the same for sound cur
rcncy, the whole country feels the cheering inlu'
oneo ofit. II is his labor that adds wealth to the
community, and every dollar that comes into his
possession Is literally dug out Of tho earth Ivy his
hard labor, and Is worth precisely as much as IL he
entered the mine and proc ured tho precious meta
itself. Labor gives value TO everything. and The
farmers bushcl Of wheat, il worth ono dollar, thot
dollar should be worth its face, and to be thus val
liable il aira be placed b,yond The potcer Of dpre'
eiaiioa lf,hc farmcr exchanges his products for
nero worthless promises instead Of money ITSELF
the former becomes the currency of the country,
and the latter is Seldom il ever seen. |, is now
100 late in the day 10 deny the fact that the orcu-
luton Of mere promises excludes the use of money
isef--and ii is equally true that there is quite
suiIicency of the precious metals to do the bust
ness Of any of the western agricultural states.
We arc aware that the correctness OF this position
viii be doubted by some, but the history Of The
county anI daily experience will sustain us IN
wha, we say. When the banks Of this state were
in their palmics, days the precious metals were
bat seldom used in the ordinary business Of tho
country and when they issued bills olu less demo-
ianaIon than So, the country was flooded with
Sn entire paper circulation, TO the exclusion even
Of "suali change to pay postage What is the
history of the country since the explosion Of these
banks Every person is acquainted with 1t, The
bank, have gone down-thcir paper has been
driven from circuladon-a return to wholesome
business aud prosperity has again dawned upon
tbs country, aud every man knows that the pre-
cious metals are now much more abundant than
at any time during the existence Of these banks
Thus much in regard to the paper circulation
of this state ia times past, also the folly and inn
propdely Of eoun,enancingi at all in the ordinary
dealings Of our citizens and now few words
respecting the poper Of the Wisconsin Marine q
Fire Insurance Company.
II, the banks OF this and other states, which were
leghlly constituted al.t literally sustained by the
people, failed to answer the purpose for which
they were created, wha, NAY be expected of the
Wisconsin Marine and Fire Insurance Company 7
No man will pretend That i, has legal existence
in this state for It's existence here is in violation
oil our constitution; aud il ia also known that u
committee ofihc Wisconsin legislature. al it's pre-.
sent session, has recommended a repeal Of It's
chatter. or, ifihat cannot DO obtained, materia
modification Of it, on the ground that Il erercise
privileges nery granted by he hc Grating Il
Ana il is well known that no person stands re
sponsible for the redemption Of It's bills, save on'
or two iujis;iunls whom we noticed on previou
occasion, and whose history. u, given by us, ha
not been disputed by those who pretend to uphol'
The concern, Wha, claims, then, has this insli
tuition to public favor and conddeneci DO no
Ne very nature anJ existence give room for TIL
suspicion Of fraud and 'siny