The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1857-10-31
The Age Of Scrip.

The suspension of so many banks in the
eastern States, and the consequent deprecla-
ton and distrust everywhere felt in relation
to all currency, has tended to inaugur"tc the
Age of Scrip in this State. Some OF the
town corporations in the eastern part OF the
State have issued Scrip, and others propose
following the example. And, even in our
own city the question has been mooted, as to
the propricty of such a movement. What
ever may have been the motive prompting
such proposition-however worthy the
objective are decidedly adverse to even
its serious consideration. We have seen
enough of getty Scrip already, in that
issued by our neighbor over the river. 1t
is true, VIC want money, and money our bu-
siness men must have, but we very much
doubt whether it can be supplied by any such
means. If we must have ''Scrip,' let some
of our wealthy business men issue it. Relief,
or post notes have been issued by business
men in Chicago, Davenport, Iowa City. and
at other points Eastward, and the same
might be done here. At Dubuque, where
Mr.. S.xuELs said they had no use for banks
the merchants, bankers and business men
generally, met in convention, and recon-
mendcd the issuing Of relief or post-notes,
by the Harbor Company of that city. The
plan suggested, was that the Company
pledge real estate Of the value, say ten to
one, and upon such security to issue suf-
fcicnt amount of notes, ranging from the
denomination of 81 to 90: that trustee be
appointed to act as Auditor, who should be
entrusted with the securities of the party
issuing the notes, and endorse those notes to
the Limitation Of the securities. These notes
all to be made payable at one time, for the
reason that, if payable in specie on demand
they would afford no relief at all, rs they
would be Immediately picked up and return
cd for redemption in gold; but being paya-
bic on time, they would be laid away by
those who, having confidence in them, would
prefer them to even the gold itself, and
would thus serve all the ordinary turns Of
business, and be a regulator Of the present
debased currency" a-
The reasons for this action on the part of
the business men of Dubuque are thus set
forth by the Times Of that city. Perhaps
their parallel can be found in the affairs Of
our own city: aa ~urer-.- .@. IA
The cine que non for Dubuque is money. How can
this be obtained? Gold and liver have been withdrawn
from our banks and boarded BY those who unwif
70 use or to lend II; currency has bern drained east
WARD % meet exchange leaving too little even Of
INFERIOR quality, to answer for daily trafiic. 4
IL Is noteworthy fact that there is much real .
MeaItn 10 dubuque and many wealthy capitalists az
IN any city Of It's size in the Union is equally true
MAJ tne wno'e community has unlimited confidence in
tnc intc2lity ana ABILITY Of busness generally;
and looks to them for some remedy what can they
DO? How can they give impetus TO business Of all
i,;,s they step forward and meet tho
The movement on foot 10 induce the Dubuque Harbor
Company an immensely wealthy corporal in no need
,ss1 any reei 70 issue post notes well secured BY
amount Of its notes Of ISSUE would much 70 relieve
every business man from all his enbarrassmeuts give
ana aborer wehope the pressure Of the public demand
Will ee so great that this corporation induced 10
comply with 1t, and supply the community with chr
sency potter than any wehave in such amount asmay
DC required and at such rate Of interest will place
within the reScA Of erey responsible business man OF
corporation.
We understand there are parties in this
city, who would consent to make some such
arrangement as has been made in Dubuque,
h1tthey were satisfied that such step would
meet the approbration Of our citizens. We
oelese that something is required and must