The miners' express. (Dubuque, Iowa) 1849-1854, 1850-09-25

the lands they own, ana tne persohai PloPcit y
of which they are possessed Would the labor
err be benefited by reducing the cash value of
the lands they own, and the personal property
of which they are possessed' Would the labor
er be benefited by reducing the cash value OF
his days labor? Would the farmer or mechan-
ic in debt, be benefited by having the price OF
his property so reduced that it would require
more of it, as much again, say, to pay his debts
, as it would now? Suppose tor instance he IS IN
/ debt two hundred and fifty dollars, and has htty
hops which are worth two hundred and fifty dol
lars; would it benefit him to reduce the value of
personal property, by abolishimg Banking, so
that his fifty hogs would bring him but one hun
dred and twenty five dollars, just half enough to
paw his debt? How could the farmer be bene-
fitted by such RESULT
But look on the other hand to the man with
money. Is he not benefited Does he not re-
ceive as much again personal property for his
debt, or his money, as he would have done be
fore Look at the persons who are enjoying
salaries. How is it with them? Will not q
thousand dollars year out of the peoples treas
ury buy twice as much personal property as it
would have done before the abolition of bank
ing'
We would ask the attention of the farmers
and mechanics of Iowa to this view of the ques-
ton. And we would ask our readers TO present
this view of the subject to their neighbors.
The foregoing extract is from late number
of the Keokuk Wing and Register, paper
which has of late devoted itself to the service of
Banks and banking. The whole series of int
rogatorics proposed above is based upon the pre-
sumption thai banks exist in Iowa and that prop
erty would depreciate in value as consequence
of the abolition Of banking. Now. there being
no Banks in Iowa to be abolished, it can not fol-
low that the cash value of labor will be reduced
as it is now at the cash value, and not at the
bank note fictitious value.
''W ould the farmer or mechanic in debt be
benefited by having the price of his property so
reduced that it would require more of it, as much
again say, to pay his debts as it would now
This is the second question asked by the Wing
q Register in answer to which we say no, nei
thcr of them would be benefited by such an CD.
Grafton, but how are you going to make that
question work in Iowa, where there are no banks
to be abolshed' The interrogatory can have
neither force nor application to the mechanics
and other classes in Iowa, none whatever But
turn the question the other way-the only way
in which it can be put to us-and what will be
the result The question in this State is not
'sshall Banks be abolished ?" but it is, "shall
Banks be established ?'-quite different ques-
ton. Any argument founded upon the first, has
no bearing whatever upon the question of Bank
ing IN this State, as there is no bank to be pull
ed down, the question being, shall one be built
up? The consequences of pulling down can
not be estimated until there is something to pull
at-so the whole series of heterogeneous propos-
ed to the "people of Iowa" by the Wing g. Reg
lister, have no more relation to the question Of
Banking in Iowa. than would judicial proceed
ing against an unknown or none xistinp beinp.
be conclusive against known individual before
identity established. Here there is no such
identity as bank, consequently no one can be
arragned for putting it out of cxistencc-no con.
sequences can be calculated till the effects of
existence shall have been felt
The, Wing q Register talks of "abolish;uc
Banhi"g, as if it were existing 10 be abolish
ed, and makes an appeal to farmer by asking
him, "suppose for instance he is in debt two
hundred and fifty dollars and has fifty hogs which
are worth two hundred and fifty dollars, would
it benefit him to reduce the value of personal
property by nbolishiug Banking, so that his hocs
would bring him but one hundred and twenty.
five dollars ~ No, it would not benefit him
But again we ask, how can you make the uucs
ton without bank There S the hard place to
get through. Turning the question round so as
to make it applicable, we pnt it in this manner
Suppose Spectator has ten thousand dollars
of cash capital, on the faith of which, he cets
charter from the State to issue 500, 900 in notes,
which he increases to an indefinite amount with
out authority; he is also authorized to receive
money from others on deposit, on which demos
It's he also issues notes to an indefinite amount
Now, our question is, has not this individual au
thorlty by law to make money indefinitely, the
only limit to his will being the distrust of credit
ors?
Again is not every dollar he makes upon all
his issues over ten thousand dollars, made at
some ones expensc-made by fraud-madc bv
swlndlng' Has a farmer with his fifty hogs.
worth $3.50 the same facilities for multiplying
his hogs and their value as this banker would
have? Would the farmer or any one else have
the same chance to increase his products so ca
silly and as fast this bankcro The mechanic
must trust to his labor and ingenuity-the far
mer to his labor and ingenuity, nature and the
seasons-but neither nature, seasons or labor
trouble the banker. A little head work on his
own part, little statute on the big book of the
State, name or two on a piece of paper, little
credullty among the public-and To- the banker
becomes rich at once. Hogs and sheep and
crops, though they increase and multiply with
great facility, cannot keep pace with the fertli-
ty OF bank printing press. The former do not
increase quite so fast, nor are they always readv
for market when they are wanted, but whoever
caught bank without the ready made note -
Who has ever complained of the scarcity of NJ.
per money?
Your hog argument won't do Mr. Wing &.
Register although it was designed to be verv
convincing, it lacks some Of the ingredients on
which all sound argument must be based. 1t
must lave question to argue-nonc of the dis
puted points must be assumed as true-and it
must be founded on truth, or what may be estab.