The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-10-20


mont in the west. and samuels gains over
Blchauan's vote in the north.
The WESTERN Exchange SWindle.
We devoted many columns Of our paper a
year or two ago in an effort TO warn the peo-
pie Of Iowa against the shipplasters Of the
Western Exchange Nebraska bank. Iienn,
Williams 4 Co. redeemed the paper al Fair
field and made arrangements to redeem il at
various other points. and for time the Ne
hraskn shinplasters had a partial circulation
in tbs section of country in spite Of our
warnings and circumstances. Recently,
however, our bankers generally refused the
paper, and at the time of the failure there
was worry lits!e in circulation in this vicinity.
We cali attention to these fucts now that
our readers may understand our position
when wewarn them OF another swindle which
Is about 70 be attempted Oh behalf of Hem,
Williams 4 Co., and other shinplaster manu-
facEurers connected with them.
We bnd the following paragraph going the
rounds Of the papers:
" Ihe Western Exchange Bank of Nebras-
ka had 9 ciicu.aton Of 1886 ,00a at the time
OF its suspension, none of which is likely to
be redeemed. six thousand dollars were de-
pfsted The day previous to the suspension,
yet bat Sl4D we're found in the Vault
Now we believe tia, Hem. Williams & Co.,
Green, Wear 4 Co., and other parties, are
legally responsible on these notes whether
they have assigned their interest in the con-
ceta or not. And ii such be tho case, it
would he playing right into the hands Of
these swindliag Wild cat operators to depre-
cis;e the character Of their issues that they
mas be enabled to buy them up at ten cents
ON The dollar. And we venture to say If
they succeed in doing so they will come out
after the pressure has passed by with n
flaming exhibit Of the solvency Of their blank
and claim the gratitude OF the public for the
skillful aud honest manner in which they
have conducted this "moneyed institution"
Indeed. We find long editorial in the Coun-
eil Bluffs Bagle already, commenting the
conduct Of Hem, Williams & Co, and nbso-
lu'ely asserting in connection with this very
affair III the public could be made sure that
IS good, honest and upright men as Messrs.
liann, Williams & Go. would have the con
ir5l 1t the banks in cur State, there would
ba less objection to the establishment Of
banks" And what are the facts upon which
this grand puii Of Hem, Williams & 60. Is
based, 10 our readers suppose? Simply and
: ey up3n tie alleged statement that Hem,
Williams CO. proposed TO mortgage lot
Of wild .auds al inflated prices to securethe
amount " stock-seyentyive thousand doll
lars which they subscribed
Law and hon ssty required that THE amount
should have been paid in cash ~ the tinethe
concern was started, yet, now after il has
been in operation for years, and Hem, VIII
liams 4 Co. have had almost the exclusive
bcnef, Of the use OF its immense issues, it is
made matter If high eulogy Of their hon.
esty and uprightness that they propose 10
mortgage wild lands to secure the amount Of
stoe4 oanrd by them.
ilenn had been Register Of the Land Office
ana Has q Lacoioco Member Of Congress,
and nssd his frangng privilege and the
credit of his position 10 Disseminate Tho c,r-
go. 40 o.,n.,. !,
'''' 49, 80 "'1 sA'e". i"e eFeuia ana
eaFE84ASs"" "' sh"se SsDfAsAa nhirpiasters.
lie pie4ged himself fer their redemption nj
Ftsrfsl3 Sc ossd Tia tocarnco n,cs. 80 ~
s. ,,n,-,.. s.. ,t,.l.. .,,s
"'N" '"s eAteh'
~ hts ~eA4'A, ana .ais aitaliing rrobits aad
hoaorQ'}3e dealing aud now he sinks out
on the tiifal pre,etee that he is not le,aih
a3I4. ~ ~,
y '''e IAenahse
pShs'
IL contradiction, however, Of the para
rraIttt published above. We have tho .,ata.
rt
49, - :.
"t5h5t' SAsi''s ~ 9'e concern, WHO, after
* ha}ne -s tiiaaS, ST. III card q he
ra5He, lt44l Il. assetts greatly exea.a i,s
So MA ~. +, ,b,3.
'f'N'o' '''''
nv
fs, p.,,.t, ..i 49,,
80 SV4uihh
e screen ~ Laeoipsg leaflets, iienn and
Williams, from their share in the Nebraska
wlld eat swtnd,e. closes lis article 4. fa1-