, 1859-08-16

But to Chicago, this il not the vor,t festn.e,
While We Of this section, snd tho busineas men
generally ofthe Stats rsgnrd Chicago u tho not
nrst market for our crops and for the .narchan-
disc we wish to buy, Jet in sll Of our river
town. nd in :syeEy Interior town, merchants
les'a worth Of goods IN, and rarely send bush
81 Of grain to Chicago. Their stofss are filed
with goods from St. Louis, and their produces
goes thers, and 70 the writer's certaia know
ledge, ths tendency IN this section il more and
more to et. Louis. And the reeson Is verT eyi-
dent, and often and truly assigned BY plain.
when produce Is shipped to Chicago, they are
paid in deprecated currency, two per cent.
below par, and st. Louis with The gold, or its
equivalent, in her hand to pay for the produce,
gets it, Of coursc: Let your Chicago merchants
think of tilis, and it they do not believe it now
the facts, md then belieye, and If not then, let
them shut their eyes to what is plainly to be
seen. until the multitude of our merchants be-,
comes wholly aliennted from them aud then they
sriU believe, It is ",he safe appeal of truth 10
time" ::
Were The majority Of these Banks owned by,
parties who. when compelled bv the tedi-
GUS process Of law. would redeem their notes.,
The people might feel more tolerant. But not
the least Of tue evils attending this system is,
that 1t brings upon the community the piethoric
issues Of scores Of Banks-retarnless, home.
less, fatherless currency, the issuers Of which
never intended to redeem it, sven if ut the dis
tant tail-end Of the law. These NAV be ycry
properly termed "Backwoods Banks" and this
class are not few, either in Illinois or Wiscon.
sin. Some adventurous Shylock buys his Mis-
souri IS and deposits them with the Auditor,
receiving. therefor the bills Of the Raccoon
Bank, and fakes them to Chicago or some other
city and loans them at 3 high rate of interest
in addition to which he receives his six per cent
annual interest on stocks in hands Of
the Auditor. Tho bills read, "The Raccoou
!sa bane. SLEEPY Hollow md fancy pictures the
rough, occasionally renturing forth into the
world, but quickly returning to his birthplace
md his home, but everybody Enotrs that the
Haceoon Bank was born in Chicago, or Spring
field, or Milwaukee or some other city-that It
never had home, that the bills once out, hence
rs the people allow themselves to be swindled
by taking them and regarding them as cur1encr,
SO long they "go," and when the people ret
tired Of 50 doing and become willing to assume
that risk, delay aud expense Of presenting and
protesting, then the Auditor sells the Stocks
aud closes the affairs Of the bank, aud how does
the @Stock Secured" currency Of such banks
turn outf The bix per cent bonds Of Missouri
form the greater part Of the security OF the Ili-
nois and Wisconsin bauka- These stock are
now worth eighty three cents on the dollar in
New York, aud il any considerable amount was
thrown suddenly upon the market they would
fall TO q much lower figure. With the deprecia-
tion in value Of the securities and cost Of wind
ing up, which would be from ten to fifteen per
cent it is apparaut to every one, the loss to The
innocent bill holders would be not little.
But the evils Of the system are too numerous
and too apparent to all, to need farther enunci-
alton. AMI who pockets tho enormous revenue
derived from such u system? Not the State
nota cent ofit-uot the citizens, nor the farmers
nor the business men. sThey hare no interest il,
the matter. But curb.stone brokers, mushroom
spectators, penniless adrenturers, and iShy-
One day the tide sets in from. Eagle Point,
Wisconssn-the Arctic Bank, ]. G. Darbor,
Cashier. and the next day from Mt. Carmel. Ill.
inois-the Dank Of America, J. q. Darbor, Pres
ident. and in the advertising columns Of the
Press we read, ~. G. Barbor, Bankiug and Ex-
change and uncurrent money bought and so1d."'
Bye aad bye it will. perhaps. be part Of his
business to bug up his own deprecated issues
at sixty to seuenty cents on the dollar.
Some Of these men, living in Chicago, St.
Louis ind other cities, own six or eight banks
that the public submit to this wholesale swiudle
We are equally interested with you Of ILL.,
| no;s in this matter. Our interests are so in.
teIwoven. that what proves Injurious to
Illinois is as much so to Iowa. We
rejoice thnt eyen at ibis early period
Bank Of Iowa. But it will be rcaa:,,;; scen ,hat
it is indeed hard for sn::e paying bauks. iocut.
ed right nn stiae battle ground, to compete With
lie i1redeemable currency Of Illinois and Wis
| consln. The branches Of our State Bank have
been prompt in pairing gold for every dollar of
thetr money which has been presented for re-
dsmption, and were the three hundred banks in
Illinois and Wisconsin compelled to redeem, it
would 50 eqnalize the burden as to mike it
light for oil. Our banks recognize the fac. that
when there is no produce going forward to make
Eastern exchange with, cOin must be shipped.
and must come from the banks. But they labor
under great dlsad draotage in such onc-sided
| game.
The dutr Of the people is to take this money
under Frcffsf, just Us in community where old
boots OF any other article was circulated rs
"money," the people might be Obliged to nut
up with it and endure the eyil for short time,
but they would doit under protest.
The duty Of the press is to agira1e the matter
TO make it subject for daily discussion-to
hold It up before the people-to exhibit it to
them in every light, to call their attention to the
location Of these institutions tell them to
look upon the map and see where Eau Claire il,
nt which point. there arc about half dozen
banks; scs here Eagle Point, Brinkerhohr,
| Gunekon, Baraboo, Waupacea, DC, Ac., are,
and to count tue numbsr Of banks there are
all along the shores Of "Gatchec Gumee,"' "in
the woods and in the fenlands," and among the
shady and swampy retreats Of the skunk, the
raccoon and the wild cat. Thus the people will
be led to look beneath the surface Of the spe-
clous stock secured" aud will realize the ne
cessity Of Immediately checking this enormous
and growing eFil. And when public opinion is
ful Il turned against these banks, they twil1haye
fentful antagonist to encounter.
But .somethieg more remains to be done.
| Upon the legislature Of Illinois and Wisconsin,
devolye the duty Of forcing these banks TO re-
deem or close upbefore the evil becomes greatet
and harder to cure. Let the members Of those
bodies 60 up 10 their next session surcharecd
with the sentiments Of the people, which they
shall not dare disregard.
Editors, you bare touched the right chord,
yon hare sounded the right note. Blow it long
and sound it loud, and though a hsudsrl Of cur
renoy makers and shyloeks meet you with theis
nnathemas, the voice Of appreciation shall como
up from the people Of erery city, town aud farm
Whether the West shall be provided with a
specie-paying currency or be still cursed with
this miserable trash until universal bankruptcy
closes the chapter, will soon be decided. lis .
question Of vast importance to her present md
future welfare and reputation. 1t Is page in
the .istory not only Of Illinois and Of Niscou
sin, but Of Iowa and the whole West, that is
We cannot have the notes Of specie pairing
banks, giye as wildcat that sAotcs her e1dtcs'
in preference to the same animal whoze hooltd
nails nre wisely concealed under :sStock Sc.
cured.'' Very respectfully.
BULLION.
Important Arrest Of Countcrfeiters.
| [Frum the Louisville Journal, 1Ah1
It will be remembered that some weeks aco
| the Cincinnati detectives arrested a 4fan named