Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1858-01-09
TUESDAY, JANUARY S, 1858.

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News from the s. wild Cato War.
The Davenport Democrat is daily frin
hot shot into the wild cat nest up there
The effect Of its volleys may be inferred fror
the fact that an endorsement of Florence IN
Burrows 4 Prettyman's checks has bee
signed by large number of professed bust
ness men of the place, but many of whom
we know to be town loafers, while not fe,
leading and influential business mems name
are not to be found in the list. The endorse
ment commences with this mendacious par
agraph:
/" Whereas, certain interested parties il
Muscatine and elsewhere, enyious ut tn
continued prosperity of Davenport durin,
the present crisis, are circulating report
with the intention Of destroying confdenc
in our currency and injuring the business O
Davenport, &C."
This is false. The business men o.
Muscatine, in denouncing Davenport shin
plasters, have only sought to avoid the dnan'
cial troubles in which those of Davenport
now find themselves. If this be an enviou;
attempt to injure the business of that place.
then let them make the most of it.
For the purpose of showing the farmers
of Iowa the true state of the case as regards
Florence and Burrows & Prettyman's checks
we make few extracts from the Democrat,
the bold and manly position of which OF
this question entities it to much praise. In
speaking of the endorsement above alluded
to it says:
"We publish this orning q statement OF
part of the merchants, of this city, endors-
ing Florence. This is inserted by us as an
advertisement, and by no manner of means
do we endorse it.
"We have been informed by number of
persons whose names appear in that list that
they should never have signed it, had it
been fully understood, and that they very
much regretted that their names appeared
there.
We have to-day stronger confidence in
the position this paper has taken. 1t is cor
rect one, and the very men who signed that
petition will sooner or later endorse it, and
many are seeing and admitting it even now.
"Florence must be redeemed within the
next thirty days or 60 into liquidat on
This community realize it, as we'll as we.
&c Our readers will see that the merchants
do not say that goods can be bought as
cheap of them for Florence as for Illinois
and Wisconsin.
"L, as that statement says, Cook d Sar-
gent are WILLING and ABLE to redeem Flor
ence ,chy don't they do it?''
In reply to an article in the Gazette, the
Democrat remarks:
"There is one fact in that article, to which
we desire to allnde. The writer says that
our merchants are paying 30 cts. per BUSH
el, in Florence. At Chicago the price is no
greater. Why isttis so2 We answer, the
stuff used in its purchase is worth so much
less than money, and not, that the same
quality of wheat at Davenport, is worth so
much more than at any other corresponding
point. This shows the true value of Florence.
"For instance party buys wheat payable
in Florence, at, per bushel SO cts
1t costs, freight to Chicago Is
Making cost at Chicago 70
Deduct price at Chicago IS
And it leaves an actual loss on the currency
paid of 10 cts
"Therefore, on every 55 csnts paid, there
is loss of Is cents-the freight from Da-
venport to Chicago. And on every dollar
of Florence there is loss of ~ 1-3 cents,
it being worth just 27 13 cents less than a
dollar of Illinois aud Wisconsin. Therefore,
in order to convert Florence into Illinois
and lFissonsin money, by the purchase of
whea t, it. costs q l3 per cent-this being
the currency paid at Chicago for the grain
when it arrives there. Gold is worth in
Chicago 23 per cent. 70 convert Flor
ence into gold, in legitimate way, there
fore, costs 80 cents, leaving Florence worth
but G5 cents on the dollar. Now there is no
better or surer test of the value of Florence,
than this. Merchants may semi-occasional-
ly procure small amounts of exchange from
Cook & Sargent rs matter of grace, at 7
per cent. (and this is rare accolnmodation)
and may be able to. pick up little gold on
the streets, at from Is to 20 per cent. shave,
but when they undertake to convert their
Florence in legitimate way, they cannot
realize more than IS cents on tho dolIar.-
This is fact and cannot be denied.
"Now we ask our readers whether we
hlve been telling the truth, or whether the
writer in the Gaz, tie is correct, when he
saws that "the Eastern merchant can get
Florence for his debts, and if he choose,
Immediately convert it into aour, at price
that will justify him in shipping it to Chi.
cago." Go to any grain, or other merchan:
in this city, with any quantity of Illinois
and Wisconsin currency, and they will make
large difference in price, as between Flor
ence and that There is nothing to be gain~
ed in binding our eyes to facts. Free dis
cussion will rot injure the cause OF truth
;SI>t p hau ,oruf fpfnr
welded strong Influence in this section of
the State, and particularly in this city
there NAV be many-we kDon there are
some people, who have been and are SO i'm
tpressed with this, that they dare not speak
what they think. For all such we are will
ling to talk, and we do not calculate that
this city and county shall suffer longer from
these worthless sllinplaste-s, without finding
voice to do battle for the right.
'sThe truth is, that the presence Of Flor
ence aud the whole brood of shinplasters, is
gradually draining the country of every gold
and silver coin, and every dollar of good
currency is pouacel upon as soon as it cross
es the Mississippi River, and hurried away,
and we are lett with roll Of worthless slim
plastcrs in our pockets, which are not re-
deelnable in any kind Of money, ard with
WHICH you cail Du} HotiHHS ten H'oo o@St VI
this city.
'sIt is amentable, it is more it is scanda-
lous, i. is a disgrace. This community owe
it to themselves and their creditors, that
stop be put to it, aud that too, without any
further delay.
.'If the proprietors of Florence cannot re-
deem. let them say so, and consult with
their creditors as to what is to be done for
their relief. If they can and wW not, and
desire that Florence should depreciate
so that it can be bought up at 25 cents on
the dollor, let them say that, and then we
sh II know exactly what course to take"
The aboveis sensible talk. tits just what
the Journal has been preaching for months
past.
The Democrat also notices the significant
fact that the. Treasurer Of the Rock Island
R. r. Co. has issued circular to the agents
along the lineeof the road that Florcnce will
no longer 5c received. The n. & NJ. r. r.
Co., on which the circulation Of this trash