Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1846-11-12
Ole Gamf- Gne.

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BURLINGTON:
Thursday, November I2. lsi6.
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Two Dollars per annum, b. in Advance
For Terms in Detail, see First Page.
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To the Candid and HfGfCfi nc.
We believe the People begin TO SEE
that the Wing party is the only party
friendly to their interests. Were we no
confident of its being such we would pray
that our right hand nigh, be paraly zet
and that our tongue nigh, cleave to the
roof of our mouth, ere we should indie
another paragraph or speak another word
in lie favor. The grand principle Of Pro-
lection to American Industry. is of itself
sufficient to signalize the Wing party as a
combination designed 10 promote The wei
fare and secure the prosperity Of every
branch Of business. But this s not by
any means the onlystrai. in the character
Of the Wing par.ysthas is TO secure for il
the confidence and support Of The masses
Of the people
In the light Of experience and common
sense they have seen tina, whatever al
tempts nigh. be made to accumulate the
precious metals the amount would fall far
short Of an adequate supply required for
the circulating medium of the country
In view of this and the absolute wants of
the people and to promote the prosperity
and increase the business of the country,
they have all along insisted upon settling
down upon the principle of mixed cur.
rency. TO carry out this principle, sound
and we'll regulated banks, with homes,
men to manage their affairs are needed
Had the Wing policy prevailed, the fuc-
tuations in the currency and the unseilling
Of the business Of the country, which has
brought ruin on thousands. might have
been avoided, and hundreds Of millions
might have been saved to the country
The farmer nigh. have found sure mar.
Ike. and steady and fair remuneraing
price for his products. Blu, the wild ex.
periments Of our opponents have launch.
ed The financial affairs Of The country in 10
chaotic uncertainty, so that no invest
ment can have assurance Of safety or of
remuneration. In this the wings have no
idea of encouraging the creation of a mul.
tiplicity of banks such as characterized
the period Of the successful war against
the United States Bank. when out Of the
ashes Of that institution scores of ire.
sponsible banks came into existence in al
most every State in the Union, proving
themselves to be real little worthless
monsters. Some Of these. without a spe-
Gle basis Of single dollar. issued their
red dog and their wild cat CURRENCY in
such profusion as TO make almos, every
man feel himself to be wealthy. These
banks were encouraged to discount freely
by the very men who were the loudest in
their ana,hemas against the safest and
soundest monied institution that ever ex.
listed. Because the U. S. Bank could not
be made subservient to the party then in
power. il was declared by that very party
10 be mons,rous party engine, and the
Eat wen, forth that it must be crushed,
its paper was of uni
form par value all over the world. All
the disastrous consequences
hat followed the destruction of this ia
miliarly called great Monster. The little
issued largely-reiailers, who
could borrow to any extent, became i'm
Dough, largely in Europe,
on credit, thinking themselves to be rich.
md the most stupendous system of over
trading was thus encouraged.
While all this was going on. others who
had borrowed largely from these ire.
ponsible banks, had merged their all in
own lot specula,ions land and real es.
ate of all descriptions were clothed with
. false value, and almost all though, he |
country had reached the very acme Of its
prosperity. But the bubble soon burst.
European fabrics accumulated in the |
stores Of all the merchants to such an ex-
ent. that TO get rid of them and in conse.
luence OF the vast competition by which
hey were surrounded on every hand, |
hey were obliged TO sell at great dis.
count on the cost Of their goods. Their
European creditors began to clamor for
heir pay; the merchants Immediately re.
'or.ed TO the banks whose paper they had
been taking for their goods. for the pur.
pose OF obtaining specie to send to Europe
% pay their debts. They were thunder
struck in learning tina, these banks had
no specie in their vaulis and tho, ;ns,o,d