The Burlington weekly hawk-eye. [volume] (Burlington, Iowa) 1857-1858, 1857-07-22

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Tnc new OBSERVATION-DISCLOSURES
i We continus our extracts from the e. Nadi
son PiAindealtr 5sN
AarYcLK yuI-eoaroaA1Ioxs -
/ This article c3cites the chief opposition 70 tn
| new Constitution, Il emoOdies the great issu
/ presented In that instrument. We will examin'
| i, aud the objections to IL, briefly.
The prescnt Constitution prohibits the crea'
| tion OF any corporate body with the privilege
making, issuing Or putting in circulation an
| paper, as money.
| The new Constitution permits the General As
| semLls, to pass banking lava, but they can no
take effect until approved by vote OF the peo
| pie
The present Constitution prohibits the people,
even ii they should desire it, from procuring The
/, enactment Of any banking system whatever.
The new Constitution merely gives them an
! opportunity OF voting for, or against such q
systea, if submitted By the legislature.
This article on corporations does not make u
imperative on the legislature to present sys-
TEN of banking; it only permits them 10 90 50,
and then before taking effect, it must receive
the popular approval.
We should be pleased to know what y 6nii-
democratic in this.
The people are worthy OF being trusted with
the decision OF far more important questions
than that Of banking, aud we can not understand
Why they may not pass upon matter 20 yitaliy
affecting their Interests.
A few presses in their zeal, or want OF discrc
ton, have raised the CRY Of 'hard money" and
an exclusive .metalc currency" and attempt
to show that this is the doctrine OF the demo
cratic party.
1t may be proper to notice this position. We
kEow not but the democratic party might favor
an exclusive '.metailic CURRENCY" II !: were
practicable. Every intelligent observer must
know that in the present exigencies Of trade,
paper money has become incxtricabiy associated
with the business Of the country.
/; may be an evil, but it is . necessary one.
We doubt whether the democratic party ever
raised in any State, except in Ohio, the lag OF
.'.hard money!" and even there, although IN
decided majority in the constitutional conyen.
ton, they failed to embody their doctrines in
the Constitution.
Every democratic State in the Union, except
Iowa and California, has constitutional per
mission Of banking.
Many Of the most prominent and influential
democrats Of this State arc engaged IN the active
circulation Of paper, az money.
These gentlemen would certainly not be con.
cerned in spreading the sblighting influence of
paper money among the people, Il It were so
great an evil as the metallic presses confidently
assert. They retain too, their position as Lead
ing men Of the democratic party, notwithstand-
ing the odium that the "hard money" editors
would attach to the business of paper money
banking
The attempts to make 'hard money" party
issue is the height Of folly. II is wholly imprac-
ticahle to get rid Of paper currency, II we
desired to do SO. We are surrounded with
banks, and our State Is inundated with paper
money. Iowa is called hard money State, and
her prosperity il ascribed to that fact. Has she
been more prosperous than Illinois or Wiscon-
SIN, both OF winch States authorize banking
But Is she hard money State! Is she not a.
common field for the circulation OF shinplasters,
Nebraska, Perth Amboy, Rhode Island Central,
&c, &c! Are not some OF her cities, and VIC
regret under "hard money" authorities, issuing
shnplasters, in open violation Of the constitu-
ton? II is common remark that Iowa has the
worst currency in the Union, and yet VIC are
complacently told she is 'hard money" Safe.
Ii may have been, that at the adoption OF the
present Consti. ution, the wants OF tie State did
not demand currency OF her own, but th'sis no
evidence that il is not requisite now. Her trade
has increased SO largcIy, that she i now ttiot'-
tary to nearly every State in the Union Tor
banking facilities, and It is well known iact,
which cannot be disguised, that des.re to re.
move the prohntcry clause in regard to bank.
ing, contained in the present Constitution, was
one Of the chief causes for calling the late Con-
s'ituional Convention.
In connection with this il may be proper to
say that we are in possession OF Information
froma democratic member oithe Constitutional
Convention which states, that the democratic
delegates held caucus in reiereucc 60 their
proper course on the question oil banking, &c,
ard although, large majority represented
themselves as theoretically "aard money men,
yes that their constituents expected tue clause,
contained in the present Constitution prohib ting
any banking sy stem, would be removed, aaa
that the people might, at lcas., have an oppor-
tunity OF deciding the question ior themselves.
In view of this public opinion they acted, and,
but four, voted in favor OF total prohibition OF
| all banking within the State.
The general features Of the article on corpo-
ra,icns, in relation to the creation Of banks, in.
diyidua liability, deposting OF stocks, are copied
| from the democratic constitutions OF ONO, In
| diana and Michigan.
Its said. that the article on corporations IS SO
| restrictive that no banking system can be es
| tablished under it.
This il strange objection to come from the
! s'hard money" presses. Bot it is not SO. snE
| lar and even more stringent restrictions VIII ht
found in the constitutions of II any OF the States
under which banking systems have been estab
lfshed and been secure.
| We refer our readers to constitutions OF New
York, Ohio, Michigan, Indiana, Florida, &e
/ Tie cLief opposition to the article ON corpo
rations is made not by the real anti bank men 0
| the State but by gentlemen interested III Ne
braska. and other foreign banks, who hnd !
convenient to do their fighting under the tag 0
/ II / b IA
should desire to deprive the people Of the ri2h
to establish any banking system OF thei' 9" u
so long az they monopolize the money matter
| Of the State. They can well afford, as the.
doubtless will, to spend large sums OF money y
prevent the adoption OF the new Constitution. :
Its defeat will reward them amply.
Before leaving this article, we ask our reader
to remember that the new Constitution does no
require, il only permits, the legislature 10 pre-
sent banking system for the approval oil IN
people. Let them remember also that the qat
ton 10 be decided is not between "hard money,
and paper currency OF Iowa, but betweeeaNe
braska and other foreign paper, now circulate
among us and the right OF the people to estan
lish a systen, OF banking, or not, as they may Sc
fit This is the true issue before us, and let non
be carried away from it by the specious cry
.'hard money" raised by the Nebraska banker
and their allies.
That appropriation to send special messel
ger TO an English ship-yard with petition th,
the owners OF the Great Eastern will be kin
enough to send that vessel to New York, is ~
OF ,hc many characteristic Jobs which marks Il
Dead Rabbit majority OF the Board OF Aide
men The real purport is this: Aid. Clancy
one OF the conductors Of The Sunday Leade
Mr. George Wilkes is one OF the conductors
Porters Spirit Of the Times. After The rece
prize fight between those distinguished iudivl
uals known as Tom Savers and Upton Sisshs
which Savers won and became thereby 4
!. champion OF England, another modern he
! ! named Ben Caunt challenged the new champo
= The fight will probably take place in Il
weeks About the same time will occur I
Goodwooi Races, and Messrs. Clancy a
Wilkes, in most laudablc syir,t ot enterpri