Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-01-04
For the Iowa STATE Democrat.


MEssas. EDIroRs: see by the newspa-
pers Of this. - well - other business places.
that there is public want Of confidence in
the circulating medium Of IowaNr-ally,
but We. here, should first look e.
credit. character and solvency Of Dava IN
and Scott county. and our efforts ma =.
tribute to induce the intelligent men o. q,
er parts Of the State to do something TO
correct the financial evil that seems to be
likely to very seriously effect the credit and
prosperit every interest Of the State.
lbaring IL Having operationsl
There 10 certainly po& CRISIS. there
fore. it is the duty. a. we'll - interest. Of ev-
cry man who has . care for the common
wealth to do and recommend in public and
private. anything that may conduce to re-
lieve the community. not only from actual
loss. but is the duty Of the people and press,
to do all they can to secure the community
from danger ovapprehension of loss.
The shin plasters. or rags. that take the
place Of silver, of less denomination than
one dollar, can, and should be Immediately
discountenanced and driven out Of use.
The shinplasters of larger denomination
are matter of grave consideration. The
interest Of the community demands that
caution. deliberation. and even Cancellation
should be resorted to. to save the thousands
that an Onvolved. from Loss.
The currency (as it il called. or miscal.
led) Of this region. is composed almost en-.
tirely Of Florence and Burrovs / Pretty
man notes. which are dull Gale At from ten
totwenty per cent for money, and from Eve
to fifteen per cent for currency.
Now. the great question il. how are W to
b saved from losa. or the APPREHENSION Of
Of lost Twill make suggestion that may
tend to induce some wiser heads IN concert
with Messrs. Cook 4 Sargent and with Bur.
rows 4 Prettyman, 10 eoncoct plan that
will do some good:
l would suggest that c. 4 & and B. 4 p.
place in the hands Of one o. more Trustees.
ssesvisy to the full amount Of all the issue
Of said c. Is. and B. I p. Those sssuri.
ties to be liable to be sold, say in one year
from date. to REDEEM 90 much - may BE- de-
manded and payment refused. Giving due
notice and every reasonable arrangements
to save sacrifice, and let C 4 8. and B. 1
P. endorse evey note that 10 presented.
which they will not redeem with good mon
ey 20 that the holder will be entitled tointer.
est at the rate Of ten per cent. per asnum
from the time Of endorsement until psid-
l would recommend that large part Of the
securities may be taken in property. that
the parties may not expect OF desire to
cell.
I would also recommend that when .
certain amount Of these notss are placed in
the hands Of the trustees and cancelled that
the trustees give up:to G. / 8. or b 4 r., %
the case may be. corresponding amount Of
the most ssleabls and available security
that they may operate with them to ens.
bic them to take up another batch, and %
on until al may be returned. Il seems 70
me that this plan would give eonAds.es in
the paper, and relieve the holdess, not only
from damage. but believe large amouae
Of the paper would b held By iArmsrs, and
others. - aafs kind Il iavsatment, asd
certainly with security and Interest aesru-
ing. 1t would purchase exchange at res
sonable rates. and sSwuuld doubtless
then be . much better currency than it i
now. Messrs. Cook 4 Sargent and Burrows
= PrettynAn, under the circumstances.
should be willing to pay ten per can't in
tsrs't for the han. and should give solid
aud Substantial ssssrity, asd IN IL present
snssgsesy. The eenmunity should b ut.
''nsd e make such compeumisa II Il nov.
v'fy s'sAs that sansthiAl Hhsald ~ dsas