Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1861-08-28

cosnssys vii! spssng up In rank gTowths
thss viii sovss the present. dssolssion
svaa II IL yisld no harvest. Bat what 9
msekssy Of hope viii Be found IN thls
great prpmise Of abaadaaesl Whas q
depth Of disappointment l. hiddn andsE
all saeh sseming laxarisaesl Applss Of
sodom, aad grapes Of GOaezzahI Hare
We not sssasd this paper noney--sAis sea-
paadsd oarreney' thsory-Aad kSow
samsshing Of iss bitter fraias9 Do we
not know bow surely isa promised lusei.
oasnsss turn 10 ashes On sAe llpss Are
We never to learn anything BY experience,
bas 70 o. shsasing ourselves with these
old lies, svaa sitter their speeious false
hoods has passed into pFOssrba We
may obtaan, IL 10 tsus, temporary re-
spiss by the experiment; bus eyen while
the Rashiaking ARE elappiag shsir haads
and rejoicing ovsr the sxhilirasing psos-
pscss shs shadows will be gathering
aboas -, and thu day Of reekoniag draw
ing TO . Close. aa
We do not regard the depreciation
hksly % take place 10 such careaey ~
Its shiaf evil. II will drive the gold
steadily ous Of our reach, and isavs as
nothing bat the hollow semblancs Of .
grand capital, swelling like IN air bubble
larger apd thinner every hour, and ready
70 collapse at the slightess touch.
'- AS fitting accompaniment 10 this pa
per usonsy scheme, Congress has, In q
fsw bssag words, saacted o statute 10
break down the Sub Treasury system,
which has been strengthening each year
Of its exisssnss In the public esteem. It
10 provided thas 'sinsssad Of gold and
silver being Immediately paid into the
Treasury, IS nov acquired, tho money
derived from the loan may remain la SOL
vent banks until II shall be drawn out In
pursuance Of law" Of course, all banks
In which these large amounts shall be de-
posted, will Be solvens, until the money
Is drawn for, when they may not be able
10 respond. But 1t b nos Of this that we
propose to spsaks. The risk of loss
would be rsCksned By napy 70 be Of small
account. Nos do We care to dwell upon
the dsanoraiising sfTsOs Of such pEovis-
ion; TIE scEanbling among variety of
hungry institutions for thsig share Of the
deposit, or tbs greedy partiEanship clam
oroaa for reward cat Of the pablo funds.
The SaEy tAoagh1 Of saeh q scene is TOO
sickeuIng foF Somfogt. Bat ws may look
for moment a. the object Of this dispo.
silica Of the loan. Ii L. doubtless 10 pro-
vide reserved fund a. basis for the
immense paper superssFucsure OF which
We havs spoken. The banks may sab-
scFibe to this loan, take their bonds in
payment, draw interest," on tho same, and
still Eesain the HloBey for their own use,
- government deposit. OF course ii
viii not lie idle. The TAXATION once be-
gun, shsy will b bssiagsd by borrowers,
and the capital soon be lent ont 10 their
customers. The Governments viii MOI
wanf ID until the pressure comes, and
thai will be ahs very noaans when the
banks Oannos pay 70. Then look ous fos
tho bitter end.
Bal, Il may BE- asked, whas il ne Gov
ssnnsns 70 do7 II must have . tssge
Asnouns Of means, and Il Ii cAanos grasr
the subssazss, why blame ii for making
shift With to shadow We answer: be.
cause the iIlasion Il worss than vanity
IL IL absolass rain. Who ssys shss vi
ssnnos sseass the sabssaness II the ssssea
rsmaining In tho Ualen sege called upoE
In plain ssFns 70 pay into ne Treasury I
tax " dirty 70 atty aaGiIion dollars, shs
sum Of shsss haHdred millions could b
borrowed Aera and In Earops, not b
pspss PROMISES, bat In hard sasls, which
would 60 - Tag - iys hundred million.
Of representative capital, svsn shoagh sbs
lattsE ware nonInally q par. The faai
% lazy saeh IA, which has bsen mani.
fsstsd Il Washingson, has done saors ID
waAksa tbs eouhdsnos ar eaplsaaiess il