Weekly Council Bluffs bugle. (Council Bluffs, Iowa) 1857-1860, 1859-04-27

I II Is stated In report recently made by
| the Secretary ee the TERasufsg, that the
ranker Of banks In the United Stztes, on
the first day Of January, 1859 sas faRztssa
| hundred aud seventy six, and tfIe tbt&i
amount Of capital Invested In them was
fuur hundred aRs one million Of dollars -
The total amonnt Of specie they claimed 10
haze on hand wa una hzEBagsd aad fsRg
millions Of ta liars, and their total cireu-
lation ten millions, In commenting upon
this startling table Of bank statistics, the
Philadelphia AEgas sxelalDs and askss 10
Eha same breath, tho name o4 all that Is
alarming awhsther are we tsndingl" Aye,
sure saough-fourteeu hundred aud seven
ty-siX incorporated parasite institutions,
like lseohes sucking sat tkaSeTy life blood
Of the uztiaR~=atloWe 70 print paper dol.
lars and to circulate their promises-to-p
as 80 much value received; author lied 10
lead their own debts and receive interest Gn
what they oWe-aud lend too, twice or
thaee times as much as they are worth, and
draw interest on the whole amount. Hard
handed toiler Why Is it In this boaBted
land Of equal laws aad equal rights. yngI
eaHR1t grow rich on your own debts, as
banking interpretations do ? Banks are
allowed ky Iaas 10 lead two or three Of their
dollar they have In the world; way are not
you per mitled to do tha same Why are
not you allow ed to print dollars and circu-
late them as money! People take a bank
hotc, which cnly promises noasy, and ssll
tt value Teceiged; way Wilt they not axe
your pro misses to Hay labor, or slaves, or
Eraiu, pork, p3tatoes, chairs, tables, bate,
eIothes-aBd ALLOW you to keep the thing
promised in your own pOssasAioHg as ths
banks do the real money they promise TO
pay? The accumulation Of gold and silver
Ia the vaults Of these blo0d-saeking ahomt-
nations is deserving the most careful at
tsaii0A While ths nero aRtlie, mechRui
cal, agricultural, and 9thsr Interests c4 the
country, have been suffering from the para
lyzing effects OF the EnoaetaFy panic pro-
6uecd by the ualastiRable suspension Of
the k3Hks, These tRstltu ioHs have been
hrapjng uP vast aggrsgattous OF speete Ia
their yaalis. BaeABg lt ap asd keeping 1t
out Il circulation playing the dog Ia the
maUgcr policy, no matter at what peril to
the prosperity Of the country, no la&tt Of
vita distress ii might occasion individa-
ais depending gpnB tdsm for aeeommoda-
uohs Look at it. The specie locked up
from circulation by these shaving shops, is
SI9&, ,O91, in 1853 in January, 1887,
Ehs amount was S58, 900 900, now almost
double what It was then; in 1883 it was
SS5 900 ,DO0-beiag an INCREASE OF specie
il tie vaults Of The banks Of nineteen mil
hous Of collars in single year. while those
who waRssd TO borrow money 10 carry ou
tfleig@ nsees sAaEy busiasss operations, eaald,
oaly wah the greatest possible difficulty
obtain a discount eveR for ,undoubted secu-
ri i, and that only fnT q hmiked tlms. -.
supa0se Ehis iaaGnARaa amount Of specie wac
in ne haHds Of indtgiauals, lastsad o3 be-
ia .ssntrolIed bY corporations wha, 10 use
tha language of Sidney Smih, have neither
boaes ia be Kicked nor souls to be daGaHeds5
Whsz aifFeFent stats Of things would then
exiss, II one Hsan could not lend HIS Neigh
boY shat be waHtsa to borrow, another
lRo,lld; and it AEoald not De lei for siMty Of
nin4ty days then az It lS noW, vita the IN
erainty &c the note hsiRE removed at ma
tudty. bne for Two, threes os avs, years, as
It nigh be dasired-the longer the time
the better It would salt the lender, pE0yi-
dsd the security waH good. Are cur banks
PIIiHte hisssfngs z IL Is blessing 10 hare
such an immense power delegated 10 ire
spo lsible, sou}less, Interpretations as that
af gaDtruhing the Whslo IoBetaty aRairs
of The natibR--4ak King money plenty when
Il suits their Interest, and scare Whenever
1t suits their convenience Expanding
the currency to-day, and inducing ovsrtra-
ding, lagHy, idIeneM aHd extrasagaUes,
contracting 1t tomorrow, turning multi
tudes out Of employment, and covering the
eopRlTg with wreck and rHfnf Locking
un hundred millions Of dollars in unpro.
u&hgs l8iehsss ia their vaults, while hard
tiEnss and Aoaey seaFreH Is beard al every
eotn>r. lis % woaaeT shat Fisher Ames
once said that f'knavss will continue TO
pTossIyte fosls and keep the paper money
question aliye.n s. .... .e.