Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1857-12-26


might be dismissed, or should take notion
to resign. Even McKeon, Of New York, he
fears might want to 6le protest.
F..
TmE ST.. LoUis BAxKs.-The bank officers
in St. Louis held council few days since,
and decided not to resume specie payments
at present. The chief obstacle in the way,
~ the Nsas Is informed, ore, the high pre-
MUM on gold, scarcity of exchange, and the
expectancy Of having to renew considerable
paper on the LIST Of January.
Nebraska shtnPlasters .. 4 no Truth
Well Teld.
The Chicago Tribune of the 2lst has
well-timed and vigorous leader showing up
in its proper light the imposition that has
been practiced upon the West BY Cook 4
Sargent and other peddlere of Nebraska SHIN
plasters. We make several extracts:
"Aftsr the Georgia and Tennessee wild
cats were bsnshed from circulation, west.
ern peop'e fondly supposed that nothing of
lower grade ot currency than State stock
|
in this they are being bitterly disappointed.
The West is again being flooded by des.
cription Of shinplastcrs infinitely more worth
less. We refer, Of course, ~ the shinplas-
tiers called Nebraska money Nothing in
the history OF banking affords parallel its
equal in rottenness. 1t can truly b. said of
this trash. that it was conceived in sin and
brought forth in iniquity. The charters for
these banks were obtained by 6ri6ing o ma
jority of the members of the Nebraska Leg
islature. Some received shares of stock in
the bank, for their votes; others took land
warrants, cash, or interests in town Sites
These charters are, of the loosest descrip-
ton and afford every desirable facility for
swindling a gullible community. There are
no safeguards worth straw thrown around
them no deposit of State stocks is required
for the security IF the holder Of their issues
no provision is made for ultimate redemp-
ton there is no restriction upon the num-
bSr Of realms which may be issued-save in
tho refusal of the public to receive more.
They may circulate ell they can get people
to take. Redemption in coin is myth, or
in any convertible currency, deusion. The
notes of these Nebraska banks, we consider
without exception, but little better than
common counterfeits, and nothing like as
good as those well executed.
The game the owners OF these swindling
shops are playing, is to shove into circula-
ton s. much as possible at par, and redeem
it at fifty to ten cents on the dollar, and
when ttey succeed in getting vast quaati-
tics Of it out blow up their rag mills. The
CONFUSION in monetary affairs this fall has
afforded the owners Of the Nebraska banks
an opportunity to pass their trash upon
western people, which they have largely im.
proved. The State of Iowa is flooded with
it. The western counties Of Illinois are
cursed with it, and it is spreading like small
pox up the Mississippi river into Wisconsin
and Minnesota.
1t is probable that a million of dollars is
now in circulation, and it is being poured
out as fast as its owners can find dupes and
.impletons to take it. Wherever it circu-
lates it drives ont all other bank notes worth
anything. 1t has banished nearly every
dollar of bankable currency in the State OF
Iowa, and is doing the same thing in the
western counties Of this Stare.
The largest and perhaps the most danger
Gus Nebraska wild cat is that called Flor
s,scs, scattered through Iowa under the aus
pices of Cook 4 Sargent, of Davenport
The quantity Of this vile trash in cir culation
no man outside Of the circle of the conspira.
tors knows, but it is undoubtedly immense.
All of these brokers whom We have nam
ed, profess to take their respective issues on
deposit; but If sou draw your deposits they
pay you in the seine rags. If you don't like
Florence. they will give you your choice
among Western Exchange, Fontenelle, Ne.
maha Val ey. Platte Valley or Waubeek;
and if you refuse all those, they will offer
you De Soto, Omaha Scrip or rekama-but
nary red of anything possessing intrinsic
value. Perhaps they may oondescend to
offer you Burrows & Prettyman's, Mt Pleas
ant, Iowa, Individual Scrip Shinplasters.-
Cock 4 Sargent are driving away all the
good money from Davenport aud vicinity,
and substituting Florence "a cord of which
would hardly pay for supper. Mackey &
Co. are ling the same thing fer Galesburg
aud vicinity, and Garside & Go. for Fulton
county and elsewhere. TO say nothing of the
operations of h. II. Hine & Co., with their
Waubeek cat. These pretend that they are
actuated solsly by the benevolent and pat
riotic motive Of furnishing currency to
move the crops!' So argues the counter
feiter, and he is equally as sincere and as
near the truth as the wild Caters both
act with fraudulent intent, and both are
intent on getting something for nothing
The only difference we perceive between
them is AZ arbitrary legal one-tle one IS a
counterfeiter, and punished-the other, o
banker, and caressed.
To say nothing Of the injury this stuff in
flicts upon the people where it circulates, its
pestilent effects are felt abroad. Merchants
holding these shinplasters can not pay debts
nor buy goods with them in Chicago, st.
Louis, or the East. Wholesalers here are
unable to collect their debts from their
country customers. because Nebraska wild
cats can not be received in pay ment of debts.
Every mail from the West brings to this Of.
fee these fraudulent issues in payment of
subscriptions. We can do nothing with them
but send them back. Nobody in this city
will touch them with forty foot pole,> As
the evil has become one Of great magnitude,
some general and vigorous steps must be ia
ken to cure it by driving the miserable stuff
ont OF circulation before tens Of thousands
If innocent people are ruined BY it."
A VOLCANIC ERuPrIpN.-A Whole Villaqs
Destroyed, and 5000 Persons Killed. - An
account of the eruptions Of tho volcano
Anos, in one Of the Sanquir Islands, near
Bornso, has ben furnishsd BY The Dutch
yesidsats a Nauado. ''s
There vsrs two separate sruptions, On the
Cd ard 18th Of March laSt. Ths emission
= lsss stones and ashes vas 20 great = "a
sbsssrs IL san, and proascs total daskness.
| 4 vislsnt hurricane and lightning accomps-