Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-12-31

Dune upon NcDTaskd Cuiic"'y' "
comments made in connection with II,
VIC remarked that we did not endorse
it. There were more personalities than
was requisite for fair discussion. At
the same time there was in its sub
stance, "more truth than poetry"
As the people well know, we have
defended Florence from the beginning.
Not that we believed it to be the kind
Of currency we should have, but be-
cause, in our opinion, it would require
a little time to retire it quietly, and as
its owners promised that it would soon
be retired or placed upon the same ba-
sis as any others western currency, we
felt inclined to wait any reasonable
tine for that purpose.
Days, weeks and months have pas
scd, and Florence instead OF improving
has been growing worse. Our mer-
chants, relying upon the promises as
they believed made in good faith Of
Cook g. Sargent, have been selling their
goods and collecting debts, all of which
have been paid in Florence, and hope
fully waiting for the good time com
Jug. To-day closes the old year. The
lst Of January, 1853 is at hand; bust
ness mems notes are due and falling
due scanty shelves and empty cellars
need rcplenishing; and what have we
10 pay with Florence. Simply, Flor
encc. We have not even credit for
"currcncy" with our bankers. Since
the first of Nov. they have only recci-
we'd it on special deposit-payable I"
Florcnce-cxcept Cook a. Sargent, and
on currency" certificates and accounts
with them, they will only pav Florence.
"It's as broad as it is long" No mat
ter where our funds are, we have Cook
d. Sargent's promises to pay. Nothing
else.
As lamentablc rs the fact is, it is
nevertheless true, that We have all been
laboring at hard times prices, and in
payment, we hold funds that cannot be
converted, to any extent, into any kind
Of money, and when we are able to
swap them for little specie, or OK
change it is only at shave of from 5
to 80 per cent, just as we happen to
light upon customers.
While we lave always been disposed
to consider Messrs. Cook L. Sargent
truthful men We cannot consent to work
longer upon promises, we must see some
substantial performance. We have du-
ties to perform; they arc to the people
in whose midst We live, and in the ad-
vocacy and defence of their rights, we
shall at all times talk fairly and plainly.
Thank God our interests are with them
and not in any shinplastor banking.
When the first feeling adverse to Flor
ence was manifested, strengthened, las we
have stated, by promises that this cur
rency should be retired, or placed on
a respectable basis, we defended it, be-
believing that we we're laboring for the
best interests Of our City and County,
and their citizens. We have been dis
appointed. To err is human.
At the expense Of the people, and
tho business interests Of our city and
county, we cannot continue to defend
it, unless it is made good. The notes
Of the Bank Of Florence must be pla.
ced on a par scith Illinois and Wiscon-
sin funds, or they must and wiU Be
thrown ont acithin the merit thirty days.
The people will not and cannot stand
it.
Money is and has been accumula-
ting in the East, and from the East to
the West business has been gradually
improving since the suspension Of the
banks on the l4th of October, until at
Chicago, N. Y. exchange (which is
equivalent to specie, dcducting one
third Of one per cent. for express char
gcs) is selling at only : per cent. pre-
MUM, payable in Illinois and Wiscou-
sin money. This Improvement will
soon extend to Iowa, aud if it finds
our money market in a condition to
receive and give .. fair circulation to
good currency, We shall have it, and
with it we can pay our debts, and pur-
chase new goods.
But If it finds lis over-un With these
Nebraska wild cats, we can bid adieu
to all the good effects it might have
had upon us. ttffs ,-.l.
There is one way and only one in
which this evil can be remedied. There
must be q unanimous decision and de.
termination among our merchants to
refuse it unless made good. There il
time, even at this late day, to save our
selves, if we but act and act promptly.
IfCook Il Sargent will make it avsila-
BILE, ali right if not cut loose from it