Kenosha telegraph. [volume] (Kenosha, Wis.) 1850-1854, 1852-12-17
ILLINOIS sHIN.PLAsrERS.

ILLINOIS SHIN.PLASTERS.
The present state of the currency of this State
and Illinois is in a most horrible condition. 1t is
the subject of serious and apprehensive comment
by all intelligent and right-minded men--and a
few of the independent presses, only, have dared
to speak out. The great majority of them, either
thinking that money matters have nothing to do
WITH Tor for fear of losing, their business. are 81
lent as the tomb.
The law of Illinois, as interpreted BY her law
yers and bankers, gives them the privilege of is
suing as much worthless paper as they please
in order more effectually to gull and cheat the pub
lic-they have established banks upon the law of
the State, which requires the deposit of certain
amount of State Stocks, as a basis for the issue
of the same amount of bank bills This amount
countersigned by the Register, is good money
With the same external appearance and names,
there is then issued, by these same banks. an en- d.
less flood of the most miserable trash that was ey
erpalmed off upon credulous community.
The people seem to take thi, stuff as readily as
offered than. Farmers part with their Pork and
wheat, and produce for it, just though it was
good for somethng-besidcs the pictures for their
children to look at. The mechanic takes it for his
labor under the impression that he is getting mon
eyC) for his work! The reason why the price
OF pork Is now run up to six and seven dollars
hundred, is because it be paid for in such
wildcat currency as is now ahoat, and the farm
ers, we suppose, think they arc making great
strikes in getting high prices for their produce
The very men who are deluging the land with
this stuff are known to be the very men engaged
in the Michigan wildcat swindling and red-dog
currency of fifteen years ago. Men with no more
character than Jackall, busily engaged in
| crowding the stuff into market, and are making
thousands by this system ofhighway robbery. The
loss is not merely the amount of money whic h
each man happens to have in hand at the time OF
the explosion of this worse than gunpowder plot
but the revolution which must ensue in all the ram.
ifications of business, Already has it driven out
every dollar of silver, and every dime of change,
and soon the smallest change we shall have will
be deprecated shin-plaster dollar.
After the great explosion which must sooner or
later come, the same individuals who have made
thousands by forcing them into circulation, will
be first in running them down to the lowest
notch, because by this course they make more
thousands by buying them up at five cents on the
dollar
We believe that the law of our State is so guard
ed that these baseless issues will not be tolerated.
perhaps it is believing to much for already our
own state is aording its full share of shinplascrs
and pictures. There seems to be no end to the
holes as well as mcshes of the law, and whoever
thinks its administration perfect, has short lesson
yet to learn.
There. is glorious uncertainty about the law.
And what our bank law will turn out to be is al
most as uncertain the Faro Bank law. See
how the people upon the north and west of u.s. on
the line of the Rock River Valley Union Railroad
are farng in the shape of money for their work,
Iennessee.and kentucky.pa form the exclusive
currency of the community, and it is next to an
mpossibiity to dispose of it this side of Kentucky,
foranything man can live upon-exccpt in the i'm
mediate locality of their works where it passes as
currency, because their is nothing else. 1t has
driven all other currency out ofthe market If this
paper has cost those who pay it out, one hundred
cents in gold and silver for the dollar in rags why
do they not pay out the gold and silver instead of
paying out these pictured promises of future
pay.
When the honest and legitimate banks of our
State get into operation, we shall look to them to
clear the market of this trash-it will be in their
power to do it. They are interested too, to have
it done.