Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-01-19

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during your deliberations
4 The question Of currency and agriculture
Ars new subjects Of legislation ia this State,
authorized and enjoined BY the Constitution,
sud possess no ordinary significance.
In the absence Of . national paper curren-
cy, and with an established policy of seven.
~ years standing In the use Of mixed cur
rency OF paper and metal by the States, each
for itself providing and regulating its own
circulating medium, il would seem TO be the
very climax Of human folly for single
State. possessing equal pow ers, to lean Who'll
" upon other States and foreign corpora
tlons for its currency Yet, Iowa, from
the beginning. has been guilty of this great
folly. the effect Of which has been to keep
out that amount or fair proportion Of gold
and silver, which q wise and well regl.la-
ted banking system would have necessarily
supplied; and subject us TO the necessity. a.
well - hazard. Of employing the paper of a
thousand banking institutions in other
states, ct animmease annual cost, In the
shape OF interest failures, and eounterieits:
and nov, when he whole country il over
taken by money crisis, in which many
OF these banks have gone into liquidation.
ans other wise withdrawn their issues. we
md ourselves entirely destitute Of circu-
lating medium
1t is needless to distinguish the fact, that
like the balance of the civilized world, we
are greatly in dsbt-w no disposition,
however, to break faith with our crediters.
Possessing millions Of pooduce and other
good property. still we have no money or
available credit to meet our liabilities.
A sudden enforcement Of these liabilities
under the re- nssa v,nu1l he A,saa
| trous as it would be cruel toward the peo-
pie OF this State; and the question may be
seriously propounded, whether any princi
pie at ethics would be violated in affording
reasonable time and that relief shall be fair
10 all parties, for the liquidation of these
liabilities.
As the state in liz sovereign capacity hes
clearly been at fault in not providing the
way for supplying a safe, sound and reliable
currency OF her own, that our people might
be placed on an equal footing, and with
IKE advantages ana privileges enjoying by
the people Of other States, she is bound by
every consideration Of fairness, to repair
and uphold the falling fortunes of the peo-
pie So far as they are affected by the want
of a home circulating medium.
According to the statistics OF the Federal
treasury, there in the country $3.50, OvO, 900
of specie; $6O,OOO.0OO Of this form the basis
OF bank issues in other States. Had we ten
years ago established wise State Banking
System, endowing it with the attributes
and powers OF similar institutions, the prob
ability is. that to-day we would have had
our fair proportion Of this specie, both in
the circulation OF the State and the vault of
our banks, justifylrg the issue Of an amount
ma NOR t,Ial Il. hui 10 al I
emergencies, would greatly relieve our peo-
pie In these days Of evil potent, or ut least
keep them from falling into worse cond-
uon Than our fellow countrymen in other
States
Forgetting, however, the errors Of the
past, let us make haste to retrace our steps ::
do now what should have been done years
ago-nlake provision for sound and an
adequate currency Of our own.
1t is competent for you to frame general
law, under which either or both of the
banking systems contemplated by the Con-
stitu,ion may be established 1t is perhaps
unnecessary for me to indicate my opinion
in regard to the relative merits of the one
or the other; or to venture any suggestions
as to the provisions which should enter into
the frame work Of either The very large
amount gold and silver in the country
lustihes the conclusion, that an actual specie
basis would be obtained under a banking
law wisely conceived Is to the privileges
1t conferred and the limitations it impos-
ed. There Is often power in words. Conf
dencc Is an important element in all bank
ing operations. The word STATE, in gov
erument well orde. ed and conducted, is
with many the synonym Of confidence
These facts, with others, would deterrnin.
my own mind in favor of a wisely adjusted
State Eanking system. Let it be establish.
ed under the best lights you can obtain.
protecting the bill holder, inviting the cap,
talist, issuing no bills under the denorniua
ton Of five dollars
The constitutional requirement upon the
General Assembly to encourage and foster
agricultural improvement, must have had
its origin in y knowledge Of the fact that
the legislation of the country everywhere
has been disposed heretofore to ignore "this
first horn of civilization"
1t is true that high s tate of prosperity re-
qures the promotion of every branch OF in
dustry, and the cultivation Of all the arts
and sb.ences but agriculture is the pre-
cursor of all these, and from the characte,
OF our soil and the nature OF our geographic.
cal position, must be the great leading avo
cation of our people, and therefore the first
interest to be considered and improved.
But the question recurs, how can this in.
junction Of the Constitution be carried out
and the highest capabilities In the economy
Of field labor and general husbandry he at.
tanned, by anything which the State in its
sovereign capacity can do?
ia ho'iouol tbot tLo Ev,k ,x.,, g:
direction, after afrording due encourage
inent to county and state agricultural socie-
ties, is to establish an agricultural bureau
as distinct department of State, similar in
its functions and appointments to the one
proposed and enacted by one branch Of
your body three years ago, but lost in the
other.
1t should hold the same relation to the
people OF this State, that similar depart
ment in tho Patent Office at Washington
City does to the whole country. Putting
itself in connection with that Office and all
the agricultural societies in the land, its
great office would be to introduce new and
valuable seeds, both of the cereals and veg
etables; direct their culture; gather up agri-
cultural statistics and Information from the
best farmers every where, and disseminate
the same largely among the generation OF
free laborers who now or may hereafter oc-
cupy our plains.
But secondly. agriculture, in her higher
aims and purposes, is a science, and de
mands the application of scientific knowl.
edge to the labors Of the field. This in.
wolves the necessity, at q proper time, Of
establishing agricultural schools, in connec-
ton with experimental farms, where the
natural sciences bearing upon her donna. n,
may be taught and applied such as geo
logy-organic chemistry-botany-phy sio.
logy-xoology-atmospheri properties and
influences, &c. To elaborate the connection
between these sciences and the objects OF
agriculture. which has its out goings in IT,
Infinite. is neither expected nor demanded
in this communication.