The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1858-06-12
For tho Cate City.

For tho Gate City.
= hanks.
1t is gsnssally known that the Democratic
party il opposed 70 Banks, and In favor Of I
hard money currency. Why il l. 20, il /
nyatsry to many. The true ground Of thu
opposition to paper currency 10 not gener.
ally understood.
4, Daring the discussion in Congress Of the
oDli9hs in relation to the re- charter OF the
r s. INK, and the Tariff, in the years ls4l
and ~, ~ leading Southern members tool
the groua4 that Banks operated injuriou sly
tolOs Interests Of The South, and that Il
Ahsy wos put down and hard money ~.
tsm We adopted, our manufactursrs would
not need ! protsetive Ieia.
sThey sontsndsd, II NJ tho effect Of {
paper circulation, " and through banks
would be 70 double he amount of money Ii
the country and End, thatin proportion t.
the abundance or scarcity Of money, ID,
price Of labor and produce WAS increased o,
diminished. These propositions were sus.
tanned by arguments, and ars,sindeed, self.
evident truths.
But, Yea ask, hew could these facts injur.
the Souths They answered, that many ar.
ticlss Of the produss 81 the North found I
market a the South, and at . conssquen,
high price, BY which thsy were greatly in.
jured; and that % far y their labor and pro.
duce Il. .. slave holdsrs) vas concerned, ths
fact Of the abundance Of moasy did not ben.
eft them: not their lsbor, because 1t =,
slave and FREQ from wages mot their t(6.
duce, COTTON being their staple), bscaus.
the price Vas not affected BY tho money
market Of this country: the price o. cotton
is fixed in Liverpool and Hayre. 1t was,
therefore, for their interest 10 put down the
banks, and to establish Z hard money cur
rency.
Although the opposition Of the South 70
the U. s. Bank and protective tariff "a,
dictated by motives purely selfish and SEC
tional-salthough the arguments proved this,
and established tho fact that the difersn,
kinds Of labor and produce Of the North
would BIO materially injured BY such policy
yet the Northern doughfaces thes, ~ now,
followed the lead Of the oligarchy, and,
among others, Mr.. Buchanan made speech,
in which he advanced the doctrine, that "so
reduce the price Of labor, Gas hard money
currency would do TO the European stand
ard, (sen cents per day. would All our coun-
try with blessings"
! suppose Mr.. B. got this idea from the old
fedoraliss, Gov. s., Of Mass, who, abou,
sixty years ago, is reported to have said,
"that the good Tins would not ooms till q
days work could be had for sleeps head
and pluck" This saying Was then regarded
~ u bitter pill, but modern Democracy has
sugar-coated it, 20 that among the party it
has now become sweet.
Since the time when the South demanded a
hard money currency and opposition to
banks, the Democracy have held 10 the doc
trine as an article Of their faith, and 10 this
State, (alone, Us rule Of practice, We have
had no banks, but We have had the refuse Of
all crsation's worst paper currency. One
million dollars probably would not pay the
loss this State has sustained for the want Of
we'll regulated banking system and sound
home bank paper money.
II w&wish 70 see al men and eli branch 60
of business in prosperous condition, We
have only to give protection, encouragement
and just reward to labor; money must be
supplied BY some means. With these, a.
Aladdin With bic lamp, the free men Of the
North would soon raise our State to the
highest grade Of civilized and enlightened
people. Then the streets, the stores and
chops Of your CITY would bs filed with :
class Of happy and paying customers, 80
that there woul4aot be room TO hold them,
till all your vacant lots were occupied. On
the other hand, adopt Mr.. Bacbsnan's mode
Of "blossing the country, ".rsduos the
wages Of the laborer to the Earopssn stand
ard md you viii SEQ your streets, your
stores and shops, thinIy occupisd--your Va
cant lots will be Of NO use except - potato
paschcs-baf your customers would come
in bsrefoossd, and I'll signs Of prosperity
and happiness would be bsnishsd forever
So. thinks . MUD SILL.
Monday's War Talk In the senate.
Mr.. Mallory, from the Naval COMMITTEES.
reported IN amsndmsnt for the construction
Of ten now sloops-of-wsr, namely: Five Of
twelve feet draught Of water, four Of four.
tssn feet drang6s, end one paddle wheel
steamer Of eight feet draaght, at an aggre.
gats cost OF 81 ,1OO, 900.
MIR. Hale moved TO strike out The four Of
u feet drasght, leaving the others In.
Mr.. Bell supported the proposal, and made
some sarcastic remarks, asking where were
The war spirits who excited % 90 much few
days ago2 Whore was the Senator fron
Georgia, Mr.. Toombs. who wanted I war with
England 1t any time these ten years past p
Where 10 the Ssnatof from Illinois. Mr..
Douglas, whose bill to eloshe he President
With extraordinary powers, liss on the tablep-
Where Is the Ssaator from Nav Hsnpshire,
Mr.. Hale, who could not agree with tho y ise
and moderate course Of the Chairman Of the
Committee on Foreign Affairs, M. Mason ;
fheae war spirits have left no margin for any
gentleman following in their wake except 70
resolve that the President shnll sive orders