The Davenport daily gazette. [volume] (Davenport, Iowa) 1856-1869, 1857-07-15

One of tho greatest dssyaaHhs iar a e1A''-'
in the old Constitution 81 tic St"'' 'N''
in the fact. that under It the people i'a'' ~"
the privilege of establishing -'i's'ai ''''''"
ina, s,.,.m NJ, have been t'sis!sd m'th
~. It,. anil bll, Of distant in.tithi'"f'
az which the great masN ~ 'h' ls"l'e ~
;,noranf either ~ o. the men VINO con
- ,4,.n their securities g. bill holder,
- avon the :, item ul.pn which they ar
,,,,dsI No state in the nion i'as more
ami ..rable currency than Iowa. Ihree-i"'rfh'
If the bank notes circulating aiming u arr
taken ..l,y consent, without any kn""Ieie,
,,l., .a,v., a. ~ their real worth
Great deal Of it j. made M Of individual =
suc,. uncontrolled hy the ordinary irs''ia-
tive safeguards. Even the ncishl"f'is TOT
ritoric. assist in supplying ~ WITH cur
rcney.a Under the Old t0n't'tn'i"i' We
have been utterly prevented from etapl''l-
ing banking system Of cur own, the "a'''
of which mish, bc familiar Z" every fi'''ci''
and Il issues passed from hand q hand WIN
fun confidence, or laid away with the sure
" that Al lcast a week hence u w"''ld SIN
be currency"
In the new Constitution. the total I'i"i',-
bition If Banking is removed, and the que
ton - lef, open TO the people to decide
whether they will have Banking or not
The new Constitution doe. MT pr"s'd,
Banks or Banking system, but mercl,
give, the people an opportunity 81 '"'n-
Cor or against any banking system presented
by a Legislature. Ia gives tie people
psea,p which they d. not now io-V"'''
and which they can use or n"i a. they
please n aJrn, the question 81 Bank "r
No Bank, which never could be que ton
und,r fli. oil Constitution Notwiihstand-
this refer the question IL Banking directly
~ the people, anil allow them ths priv ilces
ofdeci.liag car themselves ~ l-iler..f MT they
viii have hanks. and notwithstanding tli,s
article passed the Convention hy almost an
unanimous vote, ncarly every Democrat yo-
ting for tive now find tho Democratic
party arrsyins itself against the new Con
st.tation bcesusr IL permits the pe"pl" ~
have Banks II they want them. Some o.
rhe organs have l,ecn openly adsocasinc M
exclusive gsld and silver currency, dec
trine which we had thought obsolete. and
pr.etieall, declared 80 lay almost ever,
State an the mon, without reference 4"
polite In all the Democratic States OF
th. Wet We find banking systems. our
ncighboring ~ called Democratic State ~
tie East anil South, lll,nni> and M,,@auri
hate n"w tA.a banking :, stems. iiu, the
Democrats IL Iowa would wish to be knnwn
Constitution, a. hard currcnc, men.
We do MT mean To say that all or even
malorit, If our political opponent arr "p
posed {. this t.snkin- clan-c. Hut y. ~
mean 20 say, that the whsle party in iiIi,,
State h bcin. placed Ia iai.c y, fitinn J.,
those who assume To dictate IL agtla ur e.
speak IL VOICE on this banking question
IL Cannot he true that any s.ai Democrat
will oriase this Constitution beeausc II
merely gises the I,ririieyc 10 n l,ssy.f Of dc
ending whether or not they desire hank
ins system IN ihi. state. and under such
D. 'ffiefions ~ must secure the bill holder.
III the Cont .itation bc adopted, il will
tacn becsne the duty Of Legislature to
drAft banking system, and this i, Ia be snl.-
mitts,l 10 the people for approval OF r.jec-
t.oi- Tn ~ wat certain Democratic
lcaler- opI,,se. With all their profe sion,
they will never submit any question di-
rect 10 the people II IL can be avoided. -
tine question of Banking ~,
the new Constitution docs, We do MT con- |
ceive ans especial argument Is needed To- de-
lend this clause. IL c,tabli.he. no banking
system, but with cautious hands il mark,
out the boundary lines IL safety by which
any such system 10 be- hereafter established
-hal le guarded. This il right. Tie rco-
pie will sustain the new Constitution in TIN.
its most prominent feature, because il leave,
fhsa To determine whether we snail have
proper, iaileiou- and well ma,urel banking
system ii oar own, or he dependent upon
that which now constitutes our s.eutreney -
Those who oppose tins clause. are opposed
70 leaving the subject 70 he iceI4e
We here take occasion to remark. that IN |
this series u brief editorials ". are merely
stating the leading nlcis connected with |
those articles Of the new Constitution which |
have been attacked and n.i-rep.e.ented by |
CUR opponents, and We expect 10 conclude
them IN time Ia enter into a more slalor,,,
discussion alon am l.oiut &c leslie WHICH
may be made n"a or hereafter \, Demo
cratic organs, here or elsewhere.