Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1850-01-17
dstute Financfers.
From the Keokuk Register.

From the keokuk Register.
0This looks very much like an attempt to discred-
it the law established Banks Of Ohio as well as to
furnish argument against the establishment Of a
similar system In this state, all for the benefit of
Clark and Co.'S. circulation.
awe are glad that the Hawkeye does not ssrecog-
nze this as matter in which party issues party
principles are at all involved,' having cut himself
loose from the Party, he may founder away to hi J
hearts content, as the Organ Of Clark and Co.'s.
Shinplastc- shop.
sSince the above was in type, the following state
ment Of the condition Of the Ohio Banks, as con-
tanned in the Cincinnati Gazette has come to hand.
We transfer it to our columns as well to head the
advocates Of Clark's paper as to show the people
that Banks established and regulated by law en-
tirely worthy Of their confidence"
We copy the above from the Keokuk Register,
not with view to controversy, for we desire to
avoid any collision with men, who are SO palpably
actuated by malicious motives. It requires some
thing more potent and respectable than the Keokuk
Register to read out Of the party; and SO far as
we are concerned,
s.We give them liberty, large as the winds,
To blow just when they p,esse."
The Ohio banks are of three kinds. Eleven In
dependent Banks forty Branches oft state Bank
and five Old Banks.
statement Of the condition Of these banks is
made by the Auditor Of state Of Ohio. This state
ment is copied into the Registrars the editors
show that Banks established BY Law are entirely
,corfhy Of confidence. Anew discovery to be sure!i
And what does the statement as published in tho
Keokuk paper show?
Independent Banks.
Immediate means $2,e2a,s32
Immediate liabilities 2,c66.s73
Balance of debts over means $37,O4l
Branches Of State Bank.
Immediate means S5,le5,s4o
Immediate liabilities l0,665,553
Balance Of debts over means s5,4ss,7l3
Old Banks.
Immediate means $l,744,sos
Immediate liabilities 3,2ss.sso
Balance of debts over means Sl,495.377
From this statement it appears that not one of
these banks could redeem its circulation out Of
their immediate means, if called upon any day.
And what have they to 60 upon ultimate meansf
Why, the notes of individuals, who have borrowed
their money! Do the Keokuk editors know these
notes to be all good and colectables Did they ev-
er hear of Bank Directors lending money to them
selves or to favorites ?-Probsbly not!
But this statement is published to sao,c the peo-
pie that banks established and regulated By Law, are
entirely ,co,fhy Of their fdence, Did the editors
Of the Keokuk Register ever hear Of the multitude
Of Bank failures in ls3e-7-s-e and '4o-banks e,a6
lishfd and regulated BY Law? Did they ever know
a bank to fail which could not show assets enough
in the notes Of individuals to cover their abilites
Probably not! No, Gentlemen, the whole de-
ponds upon the right kind Of law. Give US the
right kind Of charter and we 60 for State Bank
or Free Banking law.
But, again, the statement Of the Ohio Banks i.
copied TO head the advocates ef Ciar1's paper. We
have shown that without the notes of individuals,
given for loans, the Ohio Banks are insolvent!-
Now, as common sense men, which is the most re-
liable security-the notes taken by an individual,
ending his own money, the notes taken by bank
directors, who are lending the money Of others
'ften TO Reconsideration to favori,eso
If the editors think Clark and Co.'s money can be
%: without good security let them try! II they /
hink they are insolvent, let them enanirel If they
'oubt the financial ability honesty Of Clark and !
To-, they can surely ascertain the TRUTH If their
Investigations should result in Clark and Co.'s IA
'or, would they not prefer this paper-which is !
worth per cent. more than any paper in circu-
,nlaton in Iowa, except Missouri Bank-to the |
'aper Of the Ohio banks, about which they know |
lothinc Of reliable character? "Tarry, gentle !
men, in Jericho a little longer.o