The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1861-08-02


who can deny the obligation
Of western towns and villages, TO the FAM
tastic antics, and ostentatious pretentions
Of Young America and who now 60 in
sensible as not to enjoy, to satisfy and
the SeP'eiory fruits Of its ollie
ious, quixotic dement's.
Ihave experienced very great incon-
veuienoe ffom defective currency ever
since my arrivals at Chicago. This vcS-
atious arrogance to the community is
really appalling and can be properly un-
derstood and appreciated only by those /
who have resided or moved within the 1
pale Of its banciul influence. But a just
reuibution viii inevitably b,suro to over
take evil docrsand rest most cogcntly and
deleteriously upon themselves, So this
disaster has boon most fatal aud calami-
tous in Illinois whore II first received
countenonce and patronage
The general Banking Law was, as il is
pretended, dsfeetiUsi but il 80, those who
made it are not wholly blamclcss in per-
hitting its passage. They had previous
ly suffered from unstable and swindling
bank institutions almost beyond ondu-
rance. They had the diversified expert
enco and experiments Of Ohio and Indi-
ana before them, md also the peculiar
advantages, fully demonstrated, of idon-
tilying moneyed corporations with politi-
cal iogglery. They could have examined
the volumes aud learned dissertations
written upon the beauties of reform 50
pertinaciously urged for years, especially
in Ohio, upon the consid Grafton of an
suspeciing community by disintercsted
demagogues; and they might, by tho sim
plest operations in common arithmetic,
have computed and footed up the loss and
gain to the dear people in consequence
Of Ills commiugling Of politics ,Dih cur
reRcy. But itwould seem that the wise
legislators of Illinois ignored all these
and similar sources Of light and expcrl-
mental and dcmonstrative knowledge;
and finally adopted system which, in
its practical application and use, has
sowcd broadsidc a currency unp urallelled
for its utter rworthlessuess. They had the
Scylla and Chorybedis Of Ohio and Indi.
ana banking before thcmsand tic elocu,n N
gasconud9 Of enlightened, patriotic poll
tioians to guido and direct them, yet as j
resolved to be original in error, the
avoided neither Scylla nor Churybedis bu
ran against both, and downward int,
the absorbing whirlp ool yOwning to re
ccive them.
The good people ofIllinois, with chris
tan maguanimity, instead Of imputinl
1 their embarrassment, to the proper sourc
aud instead Of nculcating as they ought
r the doctrine, and oboring to confirm pub
, lie sentiment in It's truth.ulness, that Po,
/ tiles and currency haze not nor can dau
any abiding q5iaity talk coofly about tn
) defects Of their bunkiug law, and dc
nounce with appropriate cpithets Of con
3 scious vindictivenoss, the exten sivo ad
8 vantages taken of il by reckless adveu
{ turers, brokers and pennyloss shurperi
: One would really suppose that il wa
: time that this morb id sentimontality ha
e. been corrected. But patience is a fun
p damentul virtue with tho suckers Of Ill
o nois. The drain upon the State has bee
, immense and il necessarily cripples busi
I ness and withdraws the active resource
q Of trade and commerce from their pros
S pectivr employment TO almost ruinor
l. extent The total circulation of the
n linos Banks last fall must have exceedC
+ ten millions Of dollars and for this emo
Is nous amount, it must be recollecte
d that the people had paid dollar for dolla
IS This may not have been paid in Amer
, can gold or even bank bills, but like @
E, cry bank issue, it was paid in its equiv
n lent, the propu cts Of the country {
j. their proceeds). such as beef, wheat, ~
ID corn and oats, therefore the banker r
=, ceives a full and satisfactory equiyale
le for every dollar issued and paid for
It mere promises 10 pay which ultimate
f and, while in their Legitimate use, becou
j. deprecated and worth only from twenl
p to ninety cents on the dollar, and the
p the same banker will receive them for /
s. more although, in the meantime, he hl
y enjoyed the benefit Of its par equiyalen
D. It is singular that a people so INTEL
,e gent, as those Of the Free States can
o. induced to adhere to tho shadow, 10 pr,
f. orcnce to the substance. Now in II
u nois, as elsewhere, the bills were issu
is at par, and the farmers paid for them
n the produce Of their labor at the full VI
IN ne as expressed on their face. The mt
ic chant and met hanic did the same b
s. the makers Of these promises to pay 1
ly fuse to retake them at the same rate.
re Tie inquiry naturally arises, why shol
We they have this right or privilege tn
Of are not legitimate, nor incident, right
It, profits. Theyreeeive six per cent int
Il; est on their boEds deposited as secur
O. for the circulation, and ten per cent
d. terest for the use Of the currency itss
d. This makes sixteen per centum per Q
e- mum for theirprofts, and what reason c
Is, there be for an enormous shave up
70 their own issues And why no per
ite criminal law to punish Il