The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1855-01-24
A Stab nt KeIIey's state Bank by
the Cincinnati Gnzette--What's
UPl 81
We find the following OminOus paragraph
in the Cincinnati Gazeffs -s


in the Cincinnati Gazeite. 81
"We think, when the people are hourly
suffering from want Of good banking sys-
TEN, when they are ground down with enOr-
nous taxes, that il required more than an or
dinary degree Of assurance on the part of
Mr.. Pugh and bis puppies to promulgate such
a platform as they have, and nominate men
for reelection whom the people only know
by the intolerance of their official acts and
the weight of the burdens which they have
imposed" .' sc y..-. 81
Here we have full confession of all that
the Democratic party have charged of the
utter rottenness and uselessness for purposes
Of public good of the present Wing banking
system of Ohio T! The State, Independent
and Stock Banks are the offspring Of Whig-
gerry, and now we are told by the Cincinnati
Gazette that the people "are hourly suffering"
from The evils they ihflict Didn't the De-
mocratic minority in the Legislature warn
you that such would be the result! r.
Had the policy!of the Democratic party in
regard tVlthe currency been. carried into
practical effect, the business interests Of the
State would have passed the late financial
pressure with comparative ease and safety.
Our Banks, prior to the commencement of
the late monetary troubles, had tempted men,
by the offer of money at low rates, into
schemes of extravaganza and speculation,
which has given the storm all its power for
mischief. s.r..
In Iowa, where the Democratic policy has
always been in the ascendant-where paper
money is interdicted in the Constitution
this monetary tempest. which has had such
desolating effects upon the productive inter
ests of States where the Bank policy has
prevailed, has made little or no impression
A correspondent Of the New York Times, a
Whig journal, pays the following just tribute
to the sound Democratic policy which has
preserved this young and prosperous State
from the evils which have been visited upon
her less wise and more proAigate neighbors:
DUBUQUE, Iowa, Dec. 81, 1854.
/ To the Editor of the NJ Y DAILY Times
Nothing could be more discouraging than
the tone of your "Money articles" for long
time past, unless it be, for a stranger, to
walk from Trinity Church down Wall street
/ to Pearl street, Hard times Hard times!
Let me for moment show you another
picture. Dubuque is rich Dubuque is fat
and lazy Let stranger drop in here and
he would see every face a picture of good
nature and selI-satsfaction. We have got
enough to pay our debts without any trouble
and real estate does not fall dollar. Me
chanics are in good request, and labor is at u
premium. We are "hard money" people.
! We have no banks of issue in this State,
and no special charters. Every man has an
equal chance at every thing. By the stat
utes, deed need only embrace about twenty
words, beside the description of the property;
and short p. s., by notary public finishes
it off. SOvercignS pass current here at
81 80, which keeps them i'll the country.
In spite OF "hard times" the farmers from
Ohio, Pennsylvania and New England pour
in here, and Uncle Sam takes in at the Go
vernmcnt office here about $4,000 to
$500, 900 month in American gold.
AS Salu petoEe, our ClTCuIdLloH 10 gohl
and silver. Our merchants buy mostly for
cash, and sell from $25,000 to SS0,000 each
per nnnum. Our banks issue TO paper, but
are banks Of discount The farmers have
splendid crops this year, and get good prices
ia specie. Consequently we are all rich out
here, and calmly witness your spasmodic eff
forts at the East.
Eighteen months ago, Iowa was pointed at
in terms of derision by the hank organs as
slow and old fogy State-a half century be-
hind the times-and.the prediction ventured
that she would be compelled to abandon her
hard money policy. But where is she now
Where now are her accusers ! Truth is
mighty and will prevuil."-Statcsnan and
Democrat.