Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1858-02-13


mics of our Florence currency, of the fact
that the Nebraska legislature authorized the
suspension of specie payments on the part
of the banks of that Territory, if they saw
fit to avail themselves of the privilege. We
have a fact for these anti-F Florence gentle.
men and their organ in this city, which will
considerably more than counterbalance all
the talk they can utter for months. Last
Friday night a farmer who lives in the i'm
mediate neighborhood OF Davenport, return
ed from financial visit to Florence. He
had a payment to make on his farm of 5000
in gold. He took that amount of Florence
money with him to Florence, and visited the
Bank. Here he told who he was and what
he wanted to do with the gold. This was
after the passage of the law legalizing the
| suspension of specie payments by the Flor
ence Bank, if it chose to avail itself Of the
privilege. Our farmer friend received forth
with for his. 5000 Florence money, 800 in
gold, and 5000 in Eastern exchange, at 5
per cent. premium, which be at once scldd
for gold at the same premium! lie return
ed with the hard currency. The name of
this farmer will be given to any one who
wishes veriGcation of these facts or furth-
or information. We respectfully request
the Davenport Democrat, Chicago Tribune
and Muscatine Journal, to give the above
facts to their readers, or to copy this article
with precisely whatever comments they may
| please.-Dav. Gaz.
So we do copy it, Mr.. Gazette, hoping you
will hereafter deal as fairly with US. The
Gnzette having given an instance for its side
of this question, we will 6" go one better -
to the contrary. We will merely inquire, en-
PEASANT, why the farmer alluded to was
obliged to tell "who he was" and &c what
he wanted with the gold'' before he could
get it-and whether bona fde bank ever
hesitates to redeem its notes till it knows
who holds them? Our instance to the con-
trary of this story is that of gentleman of
Iowa City-we gave his name two weeks
ago-who went to Florence with a. number
of these pictures purporting to be worth
81 ,000-just 800 more than that taken out
by the farmer alluded to by the Caste
and for which he could get nothing at all,
not even his breakfast! We put these two
statements together and find we are just ono
ahead Of the Gazette,-still leaving wide
room for inference that it's instance, if true
was gotten up for effect.
1t is impossible for the Gazette or any OF
the other apologists of Cook & Sargent tc
conceal the fact that they have grossly i'm.
posed on the people of Iowa by their wiid
cat speculations and that they have eve1
since last October violated their pledges
concerning the redemption of these notes al
their counters in Davenport and Iowa City
P. S. The following from the Ae6ras
khan, published at Omaha, in the immediate
vicinity of sc the bank, p is sufficient of itself
to dissipate the slightest illusion that may
have been raised by the Gazette that the in.
stitution is really paying specie:
STAND FROM UNDER.-BANK OF FLORENCE
Conserve deem it our duty to caution the
public against the "wild cat :" institution
in this Territory, known as the Bank Of
Florence. We give the facts, well known
in this community, and leave the public to
Judge of the soundness Of this concern
A gentlemen of this city, last week pre-
scented about 81 800 of its Bills at the coun-
ter of the bank in Florence, and was met
with a peremptory refusal to redeem = the
teller, or cashier, alleging as a reason for
such refusal, that he aoould not redeem it,
because it was evidently a run on the Bank.
1t is currently reported, and believed, that
upwards of $780, 700 of this Banks issue is
in circulation in Eastern Iowa and Western
Illinois, and we are crcdibly informed that
parties in Iowa City holding 50, 900 of its
notes, arc deferred from sending it home for
redemption, only through fear of losing il
by an immediate suspension of the Bank.
/ With this state of facts, people cannot be
too cautious of tax n the stuff, as the Bank
is evidently prepared to fail at the slightest
warning. 1t is to be hoped that but little
Of this money is in circulation in Nebraska,