St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-03-18
OBJ gntrllieenttr,
Iowa Legislature.

The Legislature agreed to adjourn
on the 18th day of March. 1t spen
some time in passing the joint rcso
luton. But the friends of the adjourn
ment were not posted on the new
constitution. There was no requisi
ton for its publication, consequently
it would take effect on the 4th day o
July next and not sooner. The Gov
ernor returned the bill to the Senate
with his veto, which was for the rea
son stated above.
There is now no agreement for adj
journment, and the session will con
tinue longer than March 10th, and
this, for the conclusive reason that
nearly all the necessary laws will
not have been passed.
The plan has now been adopted OF
night sessions added to long day ses.
sion. The State may congratulate it.
self upon having most faithful and
persevcring class of public servants.
They work hard, but don't work to-
gether.
The Investigating Committee on the
Capitol frauds is elicting much atten-
ton. The testimony so far, though
not Of that direct nature that stretches
necks, is yet of that triple game, sly
handed, doublc-decling, which carries
conviction, if not execution. 1t is
plainly established that there were
much larger offers on the west side of
the river than on the east side,
through the Commissioners to the
State; and, infcrentially, that the east
side made the best offers to the Com
missioncrs personally.
The Senate is vigourously at work
upon the Bank bill Various efforts
have been made to prohibit the circu-
lation or issue of bills under So. Some
strong efforts were made to fix the
lowest denomination at $40. The i'm
possibility of keeping out foreign
small bills is the great argument in
favor of small bills, and without going
farther this is sufficient.
The bill now stands very much like
the Ohio State Bank law But the
bill requires 25 per cent to be kept
on hand by each Branch, in specie,
for the redemption of its issues, while
the Ohio law requires only Is per
cent. to be kept on hand Thus ours
promises even a more safe law for the
public than that. If our Senate ma
lures Banking law more safe for the
public and yet not SO restrictive as
to drive capital from such in
vestment, as that crisis-defying insti-
tuition, the Ohio State Bank, and don't
do much else, it will get more credit
in the financial hereafter than if it had
matured and passed all the specula-
tors relief bills that have been intro
duced this winter. This matter EN-
braces perhaps the most important
financial interests of the State. The
State Bank will doubtless be ratified
by the people. There is more doubt
about the success of the Free Banking
Law, which cannot offer the security
to bRlholders that the State Bank does
The Senate completed its consdcra-
ton of the School bill, and upon the
final passage of the bill through that
branch, the vote stood 10 yeas to Ii
nays.
The bill is quite lengthy one, and
introduces radical changes in the
school system. 1t is probably as
complete system of gradations in
schools, and in as complete an order, as
could be devised 1t is nevertheless a
system in itself. And it meets some
strong objections beside its unconsti-
tutionality The Board of Education
may entertain different views from
the majority of our Legislature. They
than one year, that will practically
nullify the bill now passed. This they
will have clear constitutional right
to do, although the Legislature at its
option, may repeal any law of the
Board.
The House had under consideration
the Free Banking bill, and discussed
the clause relating to interest and dis
counts. In committee the House pro-
vided for 10 per cent. till 1860, s per
cent from 1860 to 1862, and 6 per
cent. thereafter. There is bill be-
fore the House on interest, allowing IL
per cent, which, from the expressions
given, will doubtless pass with little
opposition. By some it was argued
that banking corporations should be
allowed the same rights as are allow
ed private brokers. Mr. Mahony urged
the point, which looks perfectly con-
sistent, that if banks were confined to
& per cent. their loans would be gen
orally to the brokers, and the business
man of the communicative borrower
for his own use would inevitably
be sent to the broker, to whom he
would be compelled to pay the current
usurious rate. Does it look like
justice to allow one portion-as bro,
kers-to take 10 or IL per cent. and
forbid our legitimate moneyed institu'
tons to take more than half that rate.
Let the law weigh equally upon all.
Mr.. Coolbaugh, who is practical
banker, takes the lead for the Bank
bill, while certain anti-bank Demo.
Gratis pitch in" on every possible,
occasion and claw, to the extent OF
their ability, at the whole principle,
while they cannot but admit the de,
mand for the institution. The chance
is that amid the critics it will receive
real strength in more careful guards
and explicit language.
On DITs-That Calhoun is to be sem
to Arizona as Governor. He says, a
Washington, that the climate cf hamsa'
don't agree with his health. Likely