The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1852-05-20
LoCoFoCOIsM AND BANKS.

LOCOFoCOISM AND BANKS.
Whatever objection the Locofocos ma,
urge sgaius, the Wings, there is one charge
they cannot make with show Of consis
tency. They cannot accuse Wing princi
Piles with assuming different phases in dif
ferent localities. They cannot say, here
you are in favor Of Bank. and yonder op
posed to them; here you advocate in,erna
improvements and there You condemr
them. But whatever is protested by al
intelligent Wing here, is known and &C
knowledged as principle Of the part,
throughout the U. States.
How different the principles professet
by what 10 termed the "Democracys-a
word that in these latter days has come to
be significant Of things rough and uncou,h,
20 that We fam would not use il in speak
ing OF our Locofoco brethren; for instance,
If . man be drunken and ta,,ered he is said
- sPH0os DCtuOCEdtiC.
In Illinois, Wisconsin, Missouri, Ohio,
and in we know not how many of the 9th
Or Western States, Locofocos are in favor
Of Banks. We know it will cause feel.
ing Of holy horror to creep over some Of
our Locofoco brethren at the bare mention
of the idea that their party should favor
Banks--but such is the truth nevertheless.
We have before alluded to host Of ire.
sponsible shin-plaster establishments char
tered some years since by Locofocoism
when 10 Legislative supremacy in the
State Of Ohio. 1t was Locofocoism that
created the State Bank Of Missouri with
branches ramifying throughout the State
Have our neighbors Of Illinois and Wiscon
sin turned Wings, or Why do we see gen
sral system Of Free Banking in those
States? 1t is because upon this point, al.
90 that Of internal improvements, Locofo-
coism sees that il is policy to change its
course. Principles that are adapted to
Eastern nabobs are not suited to the yeo-
manry Of the West. These men Of prince
y capital prefer themselves to embark 10
internsl improvements, well knowing they
shall be handsomely remunerated BY the
speculation. Here we have no heavy cap
italists to undertake extensive improve
menfs, we are poor and therefore appeal to
the Government to "come over and bel u.s."
The contracted arisiocracy Of Eastern Lo.
cofocoism expands as it enters the bracing
atmosphere Of the West and becomes sound,
conservative Wing doctrine.
We write Is 10 reasonable men and wish
our language to be weighed 10 wel-balan-
ced minds. We have said, and ii is now
our aim TO provo, that the leading princi-
Piles Of the Wing party have been adopted
by Loeofocoism.
In the two most neighborly States We
have seen Locofocos originating and per
fecting systems Of Banking that have me,
with the sanction Of the people Of those
States without regard TO party. In Iowa,
on the contrary, peopled with men fresh
from Eastern Staies-very few indeed
from the free banking Slate of New York
--imbued with ideas antagons,ical TO the
welfare Of the inhabitants of Western
State, we find not only no system Of Bank
ing, but Constitution adopted BY Locolo-
cos, utterly prohibiting every description
Of Banking. Now are The Locofocos Of To-
va wiser than those Of other States, or do
they stand emphatically in their own light!
Let Us answer this question BY briefly con
trasiing the results 0i the systems respec-
lively pursued in Iowa and Illinois, both
pure, uEadslsered Locofoco States. Find
ing themselves in the successful prosecu
tion of trade obliged to receive and pass
notes Of distant banks Of doubtful soiyency,
the people Of Illinois, wisely determining
that il any good could "come out Of Naza
rcth" to appropriate it TO themselves, re-
solved to adopt system Of general Bank
ing which would protect them from the
irresponsible issues Of Eastern States, sc.
cure d reliable circulation and at the same
time realize to themselves all Of The profits
accruing IRON q safe and successful system
Of Banking With this idea system elm
liar 10 thai adopted by lie State Of New
York was submitted to the people Of Hi
nois and by them sanctioned.
Nov how is il with The people Of Iowa
II the course oftrade We fad the gold and