Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1858-01-09


Webb would not be convinced Of the
benefits Of the United States bank I'M
til Nicholas Biddle had given him 50,
600 arguments in its favor it said that
the Messieurs Sanders found three hum
dred reasons (all wild cat) which sat
isfied them Of The incalculable blessings
of Florence. As we were not present
ut either transaction, we cannot, OF
course, vouch for the correctness Of
either rumor. We must, however, do
Cook d Sargent the justice to say that
We have too high respect for their
shrewdness TO believe that, in these
tight times, they would throw away
anything but Florence on the babblers
Of the Gazette. We propose to exam
inc few Of the arguments offered by
the Gazette to prove that Cook d Sar-
gent should not place Florence on a
par with Illinois and Wisconsin currcn-
cy. Here are some of them:
It 10 nor u light matter 10 disturb the en-
tire business arrangements Of a community
and to suddenly interrupt its tide Of health
full pursuits, or to attempt to do 30. especial
ly in times like these, when this very pros
perity proves an exception to all around us
Now, we ask the Gazette, as it wish
es to preserve the little reputation for
common sense it has, how would it
"tisturb the entire business arrange
ments," "and interrupt the tide Of
healthiul pursuits" Of this community,
to have Florence redeemed at Cook d.
Sargent's counter in Illinois and Wis
consin currency9
We have shown In previous articles, what
would he the effect if these men shou sue
coed in their endeavors to destroy or seri
ously iniure what at this time constitutes
our principal local currency We have also
pointed out how intimately connected is this
currency with the remarkable prosperity Of
our city this peculiar season.
1t is nonsensical and ridiculous to
talk about "our efforts to destroy or
imjure our principal local currency"
Orr object, on the contrary, is to i'm
proue it. 1t is now l24 cents below,
aud and our desire is to raise it to, par,
This is the first time, in our experience,
that an endeavor to improve currency
was eyer branded as an attempt to dis
troy it. If Florence be Intimately
connected" with the prosperity Of the
city, SO much greater is the reason fol
improving it, for placing it on res
pectable footing.
The Muscatine hackers of those who have
been leading this onslaught, which, if sue
cessfnl would have reduced our city for 6
time to the stagnation Of theirs can retire t.
their own reflections.
Are the editors of the Gazette en-
dowed with reasoning faculties, are
they posted in.the A B C's of bust.
ness! If they are, they know better
than to write such stuff as the above
If they are not, they have no business
with newspaper. What asinine stu
pidity or what black mendacity must
have prompted the assertion, that the
placing Florence on a par with Illinois
currency would stagnate the business
of that city. which of the two asses Of
the Gazette fathercd that idea?
But, not contend With aspcrsing the
friends of a rcdeemable currency, they
ever SANDER those they contracted to
defend. Mark, what they say of Cook
4 Sargent;
The first effect would have been the
downfall Of the leading banking house IN
the city and in the State, dragging with il
many OF the most prominent business hous-
- Of the city, and they forming whirlpool
which would have sunk many Others
We believe the Gazette does inius.
tice to Cook & Sargent. 1t insinuates
that they. are.on the verge Of bankrupt.
cy-that the mere act of making Flor.
ence goodin Chicago would be the sig.
nal Of their downfall! That's vile libel
on Cook h Sargent! Tia. firm ha.
ample means to redeem Florence, iftAea
choose to do 50. Does the public
believe the Gazette's charge that Cool
l. Sargent cannot pay their notes :
Never. Gentlemen of the bank, ge
some ono to defend who won't pleat
bankruptcy as your excuse for you
mot doing your duty. In the behalf o
the merchants Of this city, whose bat
tie We arc fighting, we Indignantly den,
that.they are ready to topple down tn,
moment Florence is placed on foot
ing wan Illinois or Wisconsin. Tn,
assertion If not ridiculous would be in
sult,ng.
Now, with regard to the charge o
ofpauic making, we ask who is respon
sible for the panic, if any there be-
We who declare that our bankers art
solvent or the Gazette which protest,
that they can't pay their debts W.
say that our city is strong; the Ga
zette insists that if Florence be made
good in Chicago, our merchants and
business will al 60 down in one com.
mon ruin. These Wild cats are panic