The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-07-08

49, s~PeteeueO " otoef machinery, anu
have now no further occasion for it. Il
sssld be made very serviceable in . country
once, and We will sell 1t at bargain,
News.
The new Portuguese Minister has arrived
in Warrington City and had 40 interview
with the Secretary Of State in reference 70
certain Portuguese vessels scised BY the gov
eminent on charges Of being engaged in the
slave trade.
Gov. Medary, Of Minnesota, is also in
Washington, urging the Administration to
send oct troops to protect the frontier from
Indian depredations. Major Sherman's ar
tillery company is ordered to that service
from their present station at Fort Smelling.
The Gre which occurred in Cincinnati on
the night OF the second, destroyed Meader l.
Co.'S furniture mandatory, on the corner
Of Columbia and Smith streets; estimated
loss 4l0o, 900; and Rssor 4 Co.'s stove man.
ufacsory. loss $l50,0oo. Some 500 men
ass thrown eus Of employment.
Ths Censtisutie 81 ana she Des M slnes
valley.
The Des Moines Valley has more direct
and deeper interest in the adoption Of the
new Constitution, than any other portion OF
the State. Its cut of for lack Of proper ia
cilisiss Of Communication from direct bust.
ness intercourse and relations with the East,
and consequently does not enjoy the advsn-
tsge which il possessed BY the northern por.
ton Of the Ststc, Of drawing upon the 6nsn.
eiAl abundance Of the East, either through i,s
business connections or the influence OF men
OF capital, who have smigrassd from the
Eastern States. And owing to this very iso-
lstion il 10 doomed to currency Of Nebraska
and city corporation shinplastsrs, OF various
grades and Of neighborhood circulation, no
one being current for over afty miles travel.
While the northern part Of the State, with
ito constant intercourse and business with the
East, 10 compelled to have currency good
u Chicago and readily convertible in the
East, and their shinplasserers are held to
meet this necessity.
Again, this direct intercourse and large
emigration Of men Of means and Of influence
to the northern part Of the State, from the
East, puts the people Of tina. region in s'con-
nection" with monied men in the East and on
ables them to negotiate for meaos 70 s,nduc,
their business. While on the other hand,
the people Of the Des Moines Valley are ut.
terly excluded from the possibility Of such
Accommodations" except in rare cases,
which only serve to build up An exclusive
monopoly in favor Of shinplasterers and sha-
vers.
The great interests of the DE. Moines Val.
iey-agriculture and manufactures--sui suffer
immensely from this condition Of affairs
And il is utterly impossible to develope and
foster these prime interests, 80 long rs our
currency /. made up OF local shinplssters, and
our financial facilities, are burdened with in.
terest at the rate Of per cent. . month.
The new Constitution authorizes the Leg
islsture to establish State Bank With branch
es, and, also, to pass general Banking law,
which would render our system like that Of
the State Of Indiana, or to adopt either Of
these systems, all such laws being suhject to
approval or rejection by vote of the PEG.
pie. Now all will admit that X such sys.
tenn Of Banking should be put in operation
in our State, the evils resulting from local
inconyertible and irresponsible shinplas.
Ter currency would cease at once for moth
ing would circulate as currency which wa,
not banksble at these State Institutions
Thus re would be rid OF the inconv eniences
the discount and the risk OF utter worthless
ness which attend upon our present ciscula
ton.
But benefits 81 far greater Importance tina
these will be secured on behalf Of the gres
interests Of the Valley, by the establishment
Of Banks 10 our midst under the Constitutio
Of the State. The Banking business, eve
when regulated by law and limited in th
RATES Of interest, is very profitable bus
nsss, and men Of capital - we'll ~ ill 9th
srs hsving money, which they Do not rsQui,
~ sS.iss ss:inss:, sex ;lyes;neai.
Bank stock. The demand for . lars
increase Of Banking capital last whit,
throughout the country, snd the rsridi,
With which the stock haa been taken, mol
withss.nding the great pressure 10 the NOSE
market, IL = sufficient guarantee thai m q
eouats number Of Banks, With a0pls capit,
would 20 into operation under the BAnkir
Law Of iosa.
Usdsr the nsS Constitution Keokuk vi
hAys B4aks With ample capital to farnia
f.silitiss for b. ~idsIy extended trade, IN
q feesss asd sussais hsr growing manila.
sssiae issssssss. The predsss bsysr sod q