The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1858-06-12
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This d an important query, and one which
The people Of this State viii Be called upon
10 determine for themselves, on Monday,
The oSth inst. Atthat time, viii be sub
mitted to vote Of the people Of lows tive
distinct Banking systems for their approval
or rejection. The form Of voting will be
Sc For the State Bank Of Losoa," or" Aoasnsf
the State Bank Of Io,ca." also, "For the
General Ranking LaO," or "Aga'n's the
General Banking Lar."
These laws were framed by the Legisla-
ture last winter, and are submitted to the
people in accordance witha provision Of tho
new Constitution. We believe it is the de-
liberate and sober conviction Of the people
of this State, that Banks Of issue ore insti-
tutions they can no longer do Without. At
least, that they are disposed to avail them
selves of the benefits accruing, or likely to
accrue from well-regulated currency Of
our own. Assuming this state Of affairs to
be correct, the only question remaining, is,
what kind Of Banks shall we have? Good
Banks, of course-we all want them, If we
have any. Doubtless, we all have our pre-
ferences-that is, that portion of"us" which
fayors the establishment of Banks. Some
would prefer the State Bank, While others
advocate the claims Of Independent Banks.
We believe that it is generally conceded,
that both systems submitted to vote OF
the electors Of this State, are equally guard
ed and stringent, and framed expressly to
secure the bill-holder against loss, while at
the same time, ample margin is left for the
remuneration of the capitalist. As has been
stated by our contemporary, the Des Moines
Citizen, sit is obvious that If one class OF
these voters deposit ballots for one system
only, and negative ballots on the other pro-
position presented, spirit Of retaliation
will be excited, which will place it in the
power, possibly, Of the opponents of all
Banking, to defeat both the propositions
submitted by the Legislature. Our advice
is, therefore, to the friends Of 70 Home Cur
rcucy, of all names, parties and classes, to
deposit an affirmative ballot on both the
propositions presented. If tho systems are
not perfect, they can be perfectedh thereafter"
The people of this State have been over
run by Wild cats Of every size and age, from
the largest tom, to the veriest pulling kitten,
long enough, it would seem to US. Now,
they have IN opportunity Of disarming these
"cats," extracting their teeth and claws, by
proper exercise of tho elective franchise.
Will they do it2 We have greatly mistaken
their understanding and intelligence If they
do not. Pottawattamie County, and espe-
cialIy Council Bluffs, has suffered as much,
if not more from the ravages of the wild
cats that have invaded the State during the
past three years, than any other section. and
should, therefore, enlist her entire forces in
the crusade of determination. 1t matters
not, that some of US have heretofore held
to the principle that banks were curse to
the unnecessary and productive Of
ills-we must have them around
are compelled to receive the issues
of Banking institutions Of other States-we
have been compelled to take Nebraska
seats, ]" and in consequence, have been sore
ly bit, and scratched time and again, and
even vet bear the marks Of q recent encoun-
ter-it is duty we now owe to ourselves,
to adopt some system Of protection. That
We must continue to DO business, with pa
per money, is beyond cavil. That being the
case, and i. cannot be successfully contro-
verted, shall we be more liable to suffer loss
from institutions in our own State, and un-
der our own control, than we would were
Illinois, Indiana or some other State to fur
nish us circulating medium? But enough.
We will take it for granted, that we want the
Banks-that we want the capital in the
State, that the adoption of these laws would
bring. Then, let the voters Of Pottawntta-
mic remember, that on the 2Sth of June,
inst, a descent will be made upon the
'wild-cat nation. Let them assemble in
full forcc-no hanging back-and show
their hands-and let the world know in what
they hold the whole race of fe-
lines. How many anti-bank men shall there
be set down to the account of old Pottawat-
tamie, the common resort of the "kittens?"