The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1860-01-26

Board of Trustees. Connected with this in
e sttuton is an Agricultural Bureau undc
c The charge and control Of Gen. WIN. Duar
Wilson, lis Secretary, whose mremitting at
tention TO bis duties, and great energy, ha
rendered it Of very great service already Il
the State, as his valuable and interesting re
port demonstrates, and to which your atien
ton, and especially that of the farmers of TIN
l State is most respectfully attracted.
, BANKS AND BANKfSG.-The acts incorpor
ating State Bank and authorizing free bank
in this State, were severally accepted an,
ratified by the people at an election held fo
that purpose. The State Bank was oreo n
lied on the 2Sth Of October, 1858. Their,
! are now IL branches established at the fol
lowing points: Muscatine, Dubunue. Keo
kuk. Mount Pleasant, Davenport, Iowa City
Des MoineS, Oskaloosa, Lyons CITY, Wash
ington, burlington, and Fort Madison. with
an aggregate capital Of s46O, ,45O, paid in sne
Gle, and a circulation Of $553 ,S3G. 1hey,
are other important statistical facts bearino
upon the condition Of these branches contain.
Ell in consolidated statement published nv
4 the President Chester Weed, ESQ. for the
information OF the public, on the 5th of last
month, which makes it, perhaps, unneces sary
to embrace them in this communication. -
There are applications pending for four more
branches, and the probability is that fhe
number will be increased TO twenty in all in
the course Of this year, which will be able. it
IS thought, to supply the wants Of the leciti-
mate business of the State for some wears.
! If these branches have not ACCOMPLISHED all
that the public expect of them, it is gratifying
at least, to know that they have done a eau
tious and safe business; commandinr the
confidence of the people, whilst they have in
no small degree subseryed the interest of the
community at large in relieving the reason
able wants of its business men.
If the very eXtrao, tlinarv financial prcs.
sure in the midst of which they commenced
their business, has limited their operotions
on the one hand, it has, upon the other, i'm
parted a degree Of caution and prudence in
the management of their business. which is
worthy of all praise, and cannot fail to com
mend them to the confidence Of the public
/ In this connection I will be pardoned for s,,r-
gestng, that inasmuch as the State has lent
! to this institution its name and participates
to some extent in managing and directing its
I operations, through three Directors of It's
own appointment, It should. by the passage
| Of an act express its willingness to receive
the issue OF these branches in payment of
taxes
Standing in this intimate relation to these
institutions, it is but Just that the State
should, IN this way, add its confidence to
that of the public, which is an element of
such vital importance to their successful on.
erations. need not add that this policy, in
my Judgment, would greatly subservc the in
terest and convenience of the tax-payer.
whilst it would tend to drive much of tbe
foreign free bank money out Of our State. and
fill its place with our own issues.
] beg to say that desire to be held alone
responsible for this recommendation. as II
| does not emanate from the request or even
suggestion of any of the parties interested in
thr t.~.,,-.. "
have h5ee Seen 9st 9essttabHshed under the rree s1e
ing Law l have heard it suggested that it
was too stringent and ought to be modified.
| doubt whether an application Of this kind
ought to be entertained should one be made.
1t is the want of these stringent provisions
in the Free Banking systems of Illinois and
Wisconsin that have flooded those States and
Iowa with their irredeemablc paper. 1t is
infinitely better for the people of this State
to have no free or State banks If their paper
cannot be redeemed on demand i'm specie.
/ Under the I'D section Of the present Rev.
enue Law, the Auditor has and is saving a
! large proportion of the expense attending the
! collection of the State revenue under the for
NOR system. The allowance Of mileage to
the County Trcasurers, as formerly done, was
/ an expensive MOLE and less reliable than the
one now adopted. From the most po3ulous
counties of .he State the revenue is now pad
into the nearest branch Of the State Bank and
! is thence forwarded to the State Treasury, at
the Capitol. at the risk of the Bank and on
economical terms
! am Of the opinion that the State can fur
! ther economiSe the system of receivin and
diSburSing revenue hv sli~ht modification
Of its laws. 1t NAV le-itimately make the
bank, to some extent, the fiscal agent of the
State. The revenue being first moved from
the populous counties to the Capitol, must
he moved back again in large part, in dis.
bursements, for the use of the public insti.u.
tons in different parts of the State, and to
pay off their officers
A considerable amount has now to be paid
semi-annually, for interest on the outstand
ing State loan; and the rates of exchange as
well as the transportation Of specie, which
must be paid by the State, are less from the
river counties than from the interior.
If the Auditor should be authorized by
your legislation to direct the payment from
any county, to be made Mt any Branch of the
State Bank, to be designated by him, anG
thence ordered into the State Treasury, al
now--or thence disbursed on warrants di
rected to such Branch, i'm his discretion, il
would save the transportation, both ways O
a large part of the revenue, and save time ir
: reaching the public creditor. He is already
!, authorized to have it paid into Bank in tran
requisite is to disburse on warrants drecte,
to the bank This system would prevent an,
!, large accumulation Of money at any one point
and would also avoid some risks of loss in
evitably attending double transportation o
funds; while the security of the State woul,
be equal if not superior to that of the offica
bond. These reasons, together with the Fl
: nancal economy secured by it, commend
to your consideration.
REGISTRY LAW renew the recommeu
: datiOn of my predecessor for the enactmen
ofsuch law, and earnestly commend to YOU
y attention the suggestions and remarks whic
he had the honor to submit to the last Gen
eral Assembly upon this subject.
y STATE ARMS AND VOLUNTEER CoRPs.
: The quota of arms drawn by each Stat
$ is in proportion to its representation in Con
:, gress This provision of law operates to tn
y disadvantage of the new States, whose poI
9 ulation usr ally is much in advance of sue
: representation. Thus far our supply Ina
: been wholly inadequate to the demand
! A chivalrous spirit pervades the minds
u our young men, and many highly creditab