Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-01-01

reached ~ at our own homes and fire.
sides. Tho rich and the poor the
merchant, manufacture, mechanic md
laborer, have all felt it, bansful indd'
. (Vv would that, on this d9y, q I'll
othera We could say cheerful words,
and give our readers evidences and
hopes Of aepething better in the fd-
ture.
A Daily Journal i not alone, a
chronicler Of the passing news and his
tory of the day and time. 1t has high
or aims and dutiea Upon the various
questions affecting government socie-
ty, trade, commerce and finance, its
readers have . right to expect it to
speak it, opinions fearIessly and bold
y. And while It chronicles passing
events and records the public senti-
ment, whenever it sees danger ahead,
it should raise its warning voice and
speak its own opinions without fear,
be the consequences what they may.
We cannot but regret that "Flor-
ence" or Burrows & Prettyman's"
was ever issued. But the thing has
been done, and repinings are useless.
While "FIorence" was redeemed here
in "currency" and at Chicago and other
points it answered DIR purposes thesame
a. the bills of Illinois or Wisconsin
Banks. And although Florence was
not secured, yet the assurances of Cook
Il Sargent, their we'll known pecuniary
responsibility and high character for
integrity and financial experience indu-
ccd the people.to receive their 'promi-
ses to pay"
We, and We think the people do not
charge Cook h Sargent with any inten-
ton to act..unjustly; but we may fair
ly presume that the difficulties and
evils which have arrisen, have been
caused by the "system."
We say the people received the bills
Of" Florence" upon the representations
and good faith Of Cook Il Sargent
they did more. While Eastern Bank.
were failing, the people sustained Cook
h Sargent, believing that they in re.
turn would be sustained and protected
Cook y Sargent and also Burrows 4
Prettyman have been Of great service
TO our city county and State giving
employment to large number of per-
sons, expanding large sums Of money,
and We cheerfulIy accord to the latter
firm, the praise Of having done more
for the trade Of the city than any other
house or firm. We, the merchants
the business men, feel like sustaining
them, but there is one stronger feeling
"a feeling which even brutes pos
sess-a first law of nature stronger
than any attachment offriendship, it is
SELF PRESERVATION.
h Sargent have, besides their
own financial resources, the monied
wealth of the whole community to sus-
tai, them. At least ninety per cent of
on, circulating medium consists Of
Flrence, and yet they canuot.fu,nish
auamount Of available currency suffi-
cint to pay one tenth of our foreign
irebtedness. Our citizens have been
tng currency, the only security for
vich il our local confdencs, and the
bpe that At some future day they
ould be relieved from it, has been a.
aost extinguished,
'1Florence and Burrows 4 Prettyman'
represent our property, our goods, but
IL 10 not our currency We have no cur
|ency, ave the little gold and the few
Illinois bills that occasionally stray in
70 the city.
Florence has driven away al curren.
y. It wa said that if we did not re-
hive Florence, there would be no mon
z; We did receive it and what il the
rtulti
The fire that was built to warm, has
10 soorchsd % (: if it be not quenched
sesa, Il will Be our funeral pyre. =
When We cay that gold il worth
Ahien per cent premium and Illinois
bLlA ten, We pay that old fashioned
1nnaey = high compliment, but make .
great mistake: Florence" is worth 30