Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1858-01-09
SATURDAY, JANUARY 2, 1858.
Tanning tho - wild Cats''..voiCe Of
the People and the Press.

There is general feeling of hostility in
this State and in Illinois against the vari-
Gus spesies of wild cat currency or Nebras
ka shinplasters. We observe in the Chicago
Tribune of the 3lst circular signed by
eiqhty-three business firms of that city,
which L" recommends all merchants and far
mers to hold their goods and products, and
not exchange them for what purports to be
money, but in reality is of no more value
than the paper on which it is printed.'
The Tribune also publishes letters and
extracts from various papers of the North
West, which speak with one voice against
the entire menagerie of untamed felines.
The Davenport Democrat deals another
shome thrust" with deadly purpose at the
" varmint" which Cook & Sargent are ex-
hibiting for the purpose of swindling the
people of this region out of their money
In its issue of the Slst, We find manly lea
der of more than column in length denosn-
cling the imposition upon that community
by the circulation of Florence. Weare sor-
ry we have not room for its article entire.-
The editor acknowledges that when feel
ing was first manifested against Florence,
he defended it not because he regarded it
as the kind of currency they should have, but
because he thought its owners should have
time to retire it as they promised. He then
proceeds:
"Days, weeks and months have passed,
and Florence instead Of improving has been
growing worse. Our merchants, relying
spon the promises las they believed made in
good faith) of Cook & Sargent, have been
selling their goods and collecting debts, all
of which have been paid in Florence and
hopefully waiting for the good time coming.
To dav closes the old year. The lst Of Jam
uary, 1858 is at hand business mems notes
are due and falling due; scanty shelves and
empty cellars need replenishng; and what
have we to pay with Florence! Simply,
Florence. We have not even credit for
currency with our bankers. Since the
first of November they have only received it
on special deposit-payable in Florence
except Cook & Sargent, and on currency
certificates and accounts with them they will
onlu pau Florence It's as broad as it is
long, No matter ,chere our funds are, we
have Cook & Sargent's promises to pay
Nothing else.
As lamentnble as the fact is, it is never
theless 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
exchange it is only at shave of from Is to
80 per cent, just as we happen to light upon
customers.
At the expense of the people and the bus
mess interests Of our city and county we can
not continue to defend it, unless it is made
good. The notes Of the Bank of Florence
must be placed on a par with Illinois and
Wisconsin funds, or they must and will be
thr wn out within the next thirty days. The
people will not and cannot stand 1T. There
is one way and only one in which this evil
can be remedied. There must be an unan-
imous decision and determination among
our merchants to refuse it unless made good
There is time even at this late day, to save
ourselves, if we but act and act promptly.
If Cook Il Sargent will make it available,
all right; if not, cut loose from it immedl-
ately.
Our merchants are gaining most unenvi
able name and one entirely undeserved-that
of being unable to pay their notes. They
have reputation to sustain, and 1T is we'll
worth sustaining. Thus far they have placed
their hopes in the Bank of Florence and its
proprietors. and honesty compels us to say,
that they cannot be ikened unto the wise
man who built his house upon rock.
Of Burrows & Prettyman's shlnplaster we
have not much to say. 1t stands as we'll as
Florence, because it is redeemed in Flor
ence, and Florence is redeemed in Florence!
If Florence should be discredited, we leave
the people to use their own judgment rs to
what would be the fate Of that shinplaster.
We shall have considerable more to say
upon this subject at another time"
The Gazette of the same date, on the
ether hand, exhibits its servility by attempt
ing a defence of Florence and Burrows
& Prettyman's checks, boasting that they
have been the means of enlivening business
there and of 'sskinning" the Muscatine mer'
chants of their country trade. How does
this tally with the declarations of the same
paper made month or two ago, that Cook
& Sargent were anxious to retire Florence:
AMI that it would be very soon wholly with
drawn from circulation? Why retire it if il
is of such vast benefit to the trade of the
place? But we of Muscatine are Indifferent
as to what course the business men of Dav.
export will pursue in regard to this matter
All we ask is that the .tacts concerning the
inconvertibility and utter aoorthlessness Of
these shinplasters shall be laid before the
people, and that they be left to act under
standingly. If they choose to countenanee
their circulation, with the indubitable evi-
dence before them of the design to swindle
them by it, let them bear the penalty of their