The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1856-12-09


would be as dlstasseful and dissstrous 70 you
Is to us,-it woald be disastroas, ignouin-
ions, but wsli-sarned result, which would
bear equally upon al Of rs.
The question Of corporate aid, as an
economical question, we design to discuss at
another time, in separate article.
NEBRAsEA MosKY.--There has been con-
siderable alarm manifested BY some concern
ing Nebraska money, Of which there 10 con-
siderable in circulation In this city. We are
ers of this city, that il il received at par ut
their banking house, and We perceive estate
ment has been published ia the Nebraska
News, which shows the banking institutions
OF that Territory to be as safe a. banks ever
are.-[F Fl. Madison Plaindealer.
Yes, all kinds Of statements, figures, as
suranccs, have been made and given to the
world, to create confidence in Nebraska
banks. OF course. They couldn't circulate
their money otherwise. The word Of good
| and responsible men has been given, men of
nnimpcachablecharact and great pecuniary
capacity. But yet, we have seen all that
done for rotten institutions before, done in
good faith and with homes. motives.
And we are not now going to commence
any new war with the Nebraska banks, or
write long article about them. We have
said great deal about them. We have our
own opinions. We have from the outset
considered them dangerous things. We
have said so, and given our reasons why. 1t
was our duty to do SO. We have discharged
our duty in that regard, pretty nearly, and
consider ourselves therefore nbsolved from
the catastrophe which is impending over us
in consequence Of the employment of their
notes, and which will sooner or later fall
upon the community where their currency
circulates. And we can't say very much
without personal damage. The people
WON'T thank us, and the money. dealers will
pretty much oil feel irritated Mt even this
short article upon the stuff which for the
time enters SO largely into our commercial
transactions. We shall therefore content
ourselves with the reflection that, in spite OF
some risk Of mourning degree Of displeas-
urc, We have discharged our substantial dn-
ty, as we understand it. But We wish to
suggest few questions for reflection.
1t is not Nebraska people that have gotten
up their banking institutions. People along
or near the Mississippi, from st Louis up to
Wisconsin, have done it. And they have
brought the notes to commercial points east
Of Nebraska for circulation. Now why have
Eastern people gone out to Nebraska for
bank charters II they are willing to be
responsible, in manner which Eastern laws
deem wise and necessary, why do they go to
Nebraska And il they are not, then is it
not folly to say that their currency is as safe
And If they go out there for the purpose Of
issuing q comparatively unsafe currency,
does it not argue an impending danger, and
ought their policy to be countenanced? And
is not the Nebraska system one which safe
and prudent men all over the country, all
over the world, have condemned Whenev-
er it has prevailed, has it not proved its un-
soundness and danger by widespread disas-
serr And is there reason to expect that the
Nebraska banks will prove an exception p
Again is it not altogether probable, under
the most prudent management, that some
one OF them will fail?. Add If any one fails,
will not the whole Nebraska currency, 10 all
probability, be sent home with rush, with
a rapidity that will almost of necessity cause
every one Of them to collapse? Aud if they
collapse, are there any pledged securities
certain to save the bill-holder in the end -
Finally Our own city circulation Of Ne
braska paper has been principally predcsted
upon the argument that it was necessary to
carry out improvements under way that We
could not obtain sufficient means elsewhere
that il served us very important, il not
necessary use that when il served that TEN
porary purpose, is could be, and gradually
would be, removed Well, the season is late
improvements are nearly suspended; the
great bulk Of payments have been made but
is the currency leaying' From the fact that
it has been so extensively used, is il not
therefore so much the more difficult to get
rid of it Il it not matter OF more prime
necessity to-day than on any day previous?
And is not necessary dependence, even
though it be temporary md partial do.
pendence, upon such mass of stuff, rather
an unwise and unsafe thing
We have written more than we intend
ed. Bet goodbye to Nebraska, for the pres
cnt, perhaps.
The above has been in type two days
Since it was written, we are informed that
our bankers have agreed not to pay out any
more Nebraska money, though they are re-
ceiying 1t on deposit. We hope now that
they will agree to designate some day when
they will stop receiving il, and thereafter
rigdly refuse to countenance it in any form.
CHINESE BArrlE.--The Chinese in Califor-
ma, in the vicinity of Mount Spring, about
sixty-fve miles from stockton, had . quar-
rel which resulted in an arrangement for .
regular pitched battle, md the contest would
have been wagsd to n bloody end, but for the
interference of the civil anthor,,;es The