Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-08-05

How THE THING WAS DoNE.-Y es-
terday Burrows & Prettyman's checks were
thrown ont by nearly all of our merchants.
The news Of the disaster had reached the
country. and farmers and laboring men were
on the move to see what could be done with
this currency. There was considerable feel
ing manifested aud We were sorry that 1t
was generally turned in the wrong direction.
We desire to place this matter before the
people in its proper light, and to have the
responsibility fall upon the proper parties
We desire to say to farmers and leboring
men, that Cook d Sargent are answerable
tor the wide spread suffering occasioned by
this shinplaster, and that Burrows L. Pretty
man, rather than merting the anathemas
of the public are entitled 10 their warmest
! sympathies,
1t is acknowledged by B. Il T. that some
thing over s. 900 of their currency is now
in circulation. This being true, the question
at once arises, where is the money, property,
or credits, which they have received for it,
Certainly b. 4 +. are not extravagant.
They have thrown none of it away. They
have lost none of it. What has become Of
it.
The secret, ss we are informed, is this. Il.
Il F. were largely indebted to Cook Il Sar-
gent. G. d :. gave their scrip credit by
publishing that they would receive it upon
the same basis as other currency. IhiS be-
iag done they proceeded to collect Mor deJt
ogau,st B. d. T. by taking i,t Florence, and
plying ont b. & i. OF course every 800 OF
their own money that they could get up, and
replace with burrows 4 Pretty ymans scrip,
was Just so much collected of i. d p They
had paid 500 oftheir notes by that act, and
had by that same act transferred 800 Of the
debt due them from Is. Il p. to the person to
whom they paid the 800 of B. d P.'s scrip.
over one month ago they commenced issu-
ing certificates payable in b. Il P.'s scrip.
BY calling in Florence and paying cut Bur-
rows d Prettyman they have collected near
ly if not quite their entire debt, and b. d 2.
instead of owing {. d 5. S 5000. owe it to
the community. Each holder of B. d P's
scrip has contributed just SO much as he
holds towards paying off the debt to Cool,
Il Sargent
We knew months ago that this was up,
and cur readers will remember that we
talked plainly and told them what mould
occur, and it has occurred just as we stated.
But We want the people to understand
how this thing has been financiered and by
whom Burrows'dl Prettym anwere not the
stage managers, but Cook 4 Sargent were,
and every farmer, mechanic, merchant and
laborer that holds B. d p scrip can console
himself with the thought that Cook 4 Sar-
gent have levied just so large contribution
upon him to pay b. & Ps debt to them.
Burrows d. Prettyman are both honest,
industrious and good men, and notwith-
standing they are to blame for consenting to
issue their scrip in the first place, no men
are more deserving of kind words and offices
than they. Wesay to those old friends who
have stood by them and with them SO many
years" Do not desert them now, nor with
draw from them jot of the confidence they
have always received:at your hands. They
are good men and true. and although en-
barrassed Just now with their currency
(thrown upon the community by Cook 4
Sargent) they will sacrifice the last piece Of
property in the world to redeem it. To the
farmers in particular. do not vary, do not
blame Burrows d Prsttyman nor needlessly
sacrifice on the scrip, but throw the respon-
sibility where it belongs, upon the proprle-
tors Of the rotten, wild cat Bank of Flor
ence.