Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1844-07-12
p. r. 75ppk;i,,s, Esq.

SIR:-In reply to your communication,
in the Bloemington Herald of June 2sth,
soliciting my views on the several subjects
Of, Bank charters, mourning public debts.
right Of suffrage, and salaries Of public of
6cers. l have TO say. that so far as am
acquainted with the charters Of Banks of
discoun. am led to conclude that they
were created for the purpose Of enriching
the few at the expense Of the many, and
the history of Banks. and my own obser-
vation. prove to me that they answer we'll
the design Of their creation.
Without taking into account the loss
sustained by community by the deprecia-
ton of Bank notes in value, occasioned by
the refusal or inability of Banks to redeem
their paper, and aside from the deleterious
influence exerted on the morals by indu-
cling reckless speculation, and by encour-
aging fraud and bad faith. am of the
opinion that Banks of discoun! have been
productive of more evil than benefit, TO
community. BY increasing and diminish
ing at pleasure the amount Of currency in
circulation, they have rendered unstable
the value of property. This instability is
perhaps fruitful source of speculation to
those who control the cause which produ-
ces ii, bu. is always detrimental to the in
terest of the great mass Of community who
are engaged in the steady pursuit of per-
manent business.
admit that Bank charters may be so
guarded and restricted as to secure the
community against these evils III great
measure; but such conditions amour, TO a
prohibition of banking. Deny TO the bank
er the privileges Of banking unless he will
be held individually liable for its misman-
agement and abuses, and you divest him
OF one of the strongest inducements TO in
vest.
The mourning Of public deb. hold, in
general, to be bad policy, and should new
er be adopted, except in cases when the
expediency of the measure is not even
doubtful. The warning given US by the
embarrassed condition and PROSTATE cred
it of those states which have adopted the
policy, to avoid the rock on which they
have struck, should not be unheeded.
Some constitutional provision should be
made to protect the State of Iowa against
the consequences of reckless and profit
gate legislation on tins subject.
The right Of suffrage should be liberal.
All elections should be free; and every
freeman has a common. if not an equal in
terest in the community, and in the enac,'
men. and execution of the laws; l hold,
therefore. that every white male ciIi.
izen, over the age of twenty one years.
and who has resided reasonable time in
the state, should have The right Of an cleo
| tor. Making the possession Of given
amour. of property requisite TO constitute
hold to be Objectionable. This principle
| ought not TO be embodied in the Consli,u
ton of Iowa.
The salaries of public officers, whether
fixed by constitutional provision. or regu-
lated from term TO term by legislative en-
actment. ought, in my opinion, in all cases
to be moderate. An adequate and reasons
services rendered the state.
With small population. the bur,hen
of supporting state government must be
necessarily heavy. l hold that the pecu-
mary interest and public morals of our
community will be best promoted by pur.
suing. in relation to our state, as we'll as
individual expenses, wise medium be-.
tween the extremes of parsimony and ex>
travagance.
Respectfully. your obi serv't,
and fellow citizen,
L. F. FLETCHER