The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1857-10-03
The HANDING 0uessiou.

OF NsPfeseHtGICe ~ i4ta NtpFeseatdfius Dstftct,
JESSE w. DENlsON,
OF CRAWFORD COUNTY
The Banding Question.
1t seems to US, that there should be but
one opinion in this State, in reference to the
Of o sound banking currency.
All the real, substantial interests Of the State
demand it, and until We get such banking
system, VIC shall continue to be oyerrun with
the deprecated currency of other States.
The idea Of an exclusive specie currency is
exploded. No sensible man thinks Of such
o thing, and none but deinagogues will now
adv ocate it. There is not gold and silver
enough in the country to answer the rur-
pose, even if it we're ever 80 desirable.-
Every civilized country in the world has its
paper currency, and in the United States,
Iowa stands alone among its sister States,
in having heretofore prohibited the estab-
lishment of banks. And the bitter results
of this mistaken policy, are now being felt
most kcenly by all. We have had to take
up with currency issued either by broken
banks in other States-put in circulation
here, by private individuals, and depending
alone upon them for its redemption, or else
with the bills Of banks in Nebraska, which
We have known from the first, to have been
established in violation Of every principle of
sound banking, and which recent events
have proved too true. Who, We ask, desires
such state Of things to continue? Who
wishes to see the people of this State Ion
ger subjected to these impositions9
The opportunity Is now offered for
change of policy on this question. A new
Constitution has been adopted which re-
moves the Inhibition heretofore existing
against the existence of banks Of issue, and
authorizes their establishment with proper
checks and safeguards. No one disputes,
but that it was the strong interest felt By
the people to secure sound home currency
of their own, that led to this change in the
organic law, and every reasonable man ex-
pccsed that all parties would unite in COM
mon effort, to secure in the best possible
mode, the attainment Of this desirable OBJ
ject. Blu. what is now tho position of par
tics in reference to it? To what extent are
they prepared to give form and force to this
almost unanimous wish Of the people on this
important subject. Let us see.
The Democratic party held its Convention
in August, proclaimed its principles and
nominated its candidates. Among. the for
mcr, there is not one word in reference to
banks. On other subjects Of vastly inferior
Importance, its platform is explicit enough,
but on this, the great question of State poll
cy involved in the canvass, it is silent as
death itself. What does this mean? Is the
great Democratic party Of Iowa, afraid to
avow its opinions, OF has it none on the
subject, and shall We take its silence, as
declaration opposed to, or in favor OF, a
State banking system9 We must seek for
answers to these enquiries in the avowed
seutin ents Of its candidate for Governor.
And here all doubt on the subject is dissipa-
ted. BEN NJ. SANUELs is an open and avowed
anti bank man. He declares himself to be
such in the most emphatic manner, and
he tells US also, that il elected to the Office
Of Governor, he will not recommend the es
Establishment of a banking system by the
Legislature. The people then know we'll
enough what to expect from him. OPPOSE
tion first, last, and always, to Banks, will be
tho guiding principle of his administration,
should the people be 50 unfortunate as to
elect him to the Office of chief magistrate.
And the same spirit which actuates their
candidate for Governor, is exhibited
through tho entire ranks of the party. Look
At the course Of its organ in this city. Its
columns day after day, are filed with de-
nunciations against all banking paper, and
i. studiously endeavors to make political
capital out Of the recent failures, of the
hybrid banking institutions of Nebraska, as
if these bore the slightest Resemblance to a
sound and safe banking system, such as it is
proposed to establish in this State. At the
same time also, its candidates in this Sena-
torisl and Representative district, are mum
on this subject. Neither Of them will avow
himself in favor Of the establishment Of
banks. Even Mr.. PusEY, when pushed to
the wall, At Sioux City, on Saturday last,
by his opponent would not do so, but would
only SAY, that If any banks We're established
it should be State bank, with branches,
but he would not pledge himself even to
vote for that. lie dared not do it, his party
would not permit him, to do it. Such then
is the position of the Democratic party.
In reference to the position of the Repub-
licsn party, weneed say but few words. 1t
has no concealment on the subject, but
boldly and unequivocally avows it" deter
minstion to respond to tho just expectations
Of the people. 1t recognises the fact, that
it was Their intention to secure the es-
tablishment of a sound banking system, that
led to tho adoption Of the New Constitution,
and that such is now the earnest wish of
large majority Of the people of this State.
The State Convention which assembled in
Iowa City on the 2lst Of August, and by
which the Republican candidates for Gov
ernor and Lieutenant Governor were nomina-
ted, adopted the following resolution:
Resolved, Tha. it is deliberate conviction of this
that the next Legislature should provide
= system Of Banking, that will secure to the state
modiu redeelnabe At all times within its
limits sold and silver; and will support for State
0sCrs and Lhe Legislature, srch, and such only
svowedy and unauaiacdly favorable to that result.
and the same sentiments here proclaimed,
have been reiterated by every Republican
Convention held throughout the State. Its
candidates ull stand upon this platform,
Gen. Lowe, our excellent candidate for
Cor oznox atanda uno, Il and fully ans