The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-06-13

y
was superseded BY other machinery, ant
have now no further occasion for it. i
could be made very serviceable 10 country
Office, and We will sell it At bsrgain.
The Iasuc CT tho Conssitution.
Ten years ago, when the Democracy wal
all powerful Ia lows, and the star Of Benton
was in the ascendant in the political heavens,
the Locofooo orators and the Locofoco press.
- led on the "hard 6sted" in their
var upon the banking system Of the country
under the banner Of Old Bullion, BY sound.
ing his delusive prophecies and promises, to
adspta Consultation prohibiting banking in
the State Of Iowa. Frsn that day till this
the people have fretted and groaned under
the evil eGecss Of their unwise policy. Year
after year the necessity for banks in our
State grew more apparent, and the feeling oil
the people in their favor became more in
tense, till finally . majority was secured in
the Legislature who were willing to submit,
the question once more to the people Of the
State.
The banking question was really the only
question in the minds Of the people when the
vote Was tsksn upon convention, aad "a
overwhelming majority voted in favor Of
holding convention. Delegates we're elect
cd, and ont Of the entire number returned as
members Of the Constitutional Convention,
only four or Eve declared themselves, before
the people, opposed to banking. Twenty
one we're known BY their party connection
and upon universal reputation to be decided.
lyin favor Of banking, and majority Of the
rest avowed themselves, in the course Of the
canvass, as in favor Of enc system or another
OF sound banks. In truth, the Democratic
party, not only in Iowa but Throughout
the country, had receded from their extreme
positions againss banking, and in all the
States, except Iowa, where that party held
the power, it had legislated 10 favor II banks.
And now, within brief period, Banking
systems hare been legislated into existence in
the then intensely Democratic States Of ILL.,
nois and Missouri, Immediately ems. and
south OF US. Thus the progress Of events,
the necessities cf business, the demands Of
the people and the universally Of banking,
had borne down oil systematic opposition,
and 1t Was really no longer party issue.
When. therefore, our State Convention
met, nine-,enths Of the people desired, and
al expected, that the prohibition against
banking contained in the old Constitution
would be removed. And had the Conven-
met and struck out that prohbitory clause,
adopted the balance Of the old Consultation.
and adjourned the same dag, We venture to
say there would have been no organized op
position to the Amended Constitution. But
the Convention saw st to sit several weeks.
and to make numerous other amendments,
none OF them, however, Of very great prac-
teal importance, but on the whole ouite
proper and salutary in their general scope
and bearing. And at all events. however
people may differ as to that, we venture to
say thai all well informed, honest and can.
did men will admit that none of those
amendments, nor all Of them combined, will
possess one 1.-THE the practical Importance in
their effects upon the condition, business and
prosperity of the State, NJ that in relation to
banking.
As this is practical age, and demands &C.
tnal results, regardless Of fine drawn specu-
iaiise theories and remotely possible ccn.in-
xencles OF fact, and as the people OF Iowa
are OF the "fastest" Of the age, and seek
above all things the immediate development,
OF the resources Of the State snd the up.
building OF the public and private prosperity
OF ITS citizens, we expect them to regard and
decide upon the main issue Of the pending
contest, without suffering themselves to be
embarrassed or misled by minor matter. Of
little practical consequence, or BY irre!ev AMI
issues not really involved in the case pre.
sented for their decision.
ihe great issue to be decided at the All
gust election, the one which has been press
ing upon the people Of Iowa for years, upor
which such an overwhelming vote vas siyer
10 favor oil Convention, and in reference e
which the members Of the Convention wer,
chosen, is the question Of banking. Shallth,
Legislature be allowed to incorporate bank
ing system Shall the people OF Iowa hav,
sound, legalized banks Of their own? Thos,
are the questions, 10 view of which Nil other
presented IN the pending contest sink into in
slgnihcance. These questions have alrcad,
been twice decided in the affirmative bv Inn
mense majorities Of the people, after YEAR. q
experience of the evils OF the want Of baor.
and IN the Ugh. Of the most full and ampl
discussion OF the subject on the stump, In III
Newspapers, and ct the Preside.
let the people are called upon now, to for
GET their past experience Of the disadyanta
ges and evils they have suffered from tb
Wah' o. backs, 70 shut their eyes to the uui
scrsai prevalence Of banks throughout al
we States Of the union, to ignore the grea
fundamentally which has ,ecurea thu -;
anphs OF modern commerce. deye,onea -,
unprecedented rapidisy the boundls.s resou,
60 Of our country. and constructed intern,
Improvements. throughout ~. h-c.a ,s,,,
saicn Is would have required ages OF the oil
io2y pot-mets., nc credissysten to hare fairl
commenced, and would have demanded
geological period" to have completed. An
II order 10 induce the people Of Iowa to com
nit this egregious blander, the oppeneu,
o. the banking system sinply yslp aboli
tios asd anslgamation and east ssniyrer.
Ito lief Of the people, thiakinx TIA. Ii
pesras - - prejadiosd thst they cannot %