The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1863-10-10
Secretary Chase.-New National
Hanks

Secretary Chase has demonstrated to the |
nation that he is master of his position. No |
officer OF the Government has been more
devoted to the interests of the country, and
none have been more entirely successful. |
He has performed herculean labors with all
the GOODNESS, dash, adroitness, and deter
mination of Napoleon. He has happily
disappointed everybody-friends and enc
mics. He may have made mistakes in ad-
ministering the affairs of his bureau, but
they are not now apparent Financiers
and capitalists intelligent and renowned,
experienced and clear-headed, one and all,
have been compelled-sooner or later-to
yield to him the respect due to superior.
His faith in his plan, and his perseverance
in carrying 1t out, have removed mountains
| OF obstacles, and his financial ability stands,
to-day, unquestiOned and unQuestiOnable,
in both himispheres.
II ever nation needed a mana whole
| man-fOr most important position In
most extraordinary emergency, that nation
| was ours. When the war broke out, all
alike, the timid and the faithless, the cour-
ageous and the hopeful, feared speedy tinan-
cial chaos. A chilly darkness of CONNER
cial troubles lowered over us, and it was
palpable that men dared not expect any
thing but a plunge into disaster and ruin.
We wanted then patriot, true, loyal, self
sacrificing, entirely devoted to his country,
and God gave him to us. We wanted more,
and that want was supplied. We wanted
still more, answering determination ana
untemptable moral and Christian princl-
pie, and there we were not forgotten. we
wanted more yet, man whose honorable
career and record would place him high IN
the confidence and affections of the people,
and in this we were favored. We wanted
the added gifts of diplomatist, business
man, asagacious minister, a wise counselor,
and skillful inancier, and we were in all
these graciously remembered. A loyal
people are devoutly grateful-more and
more daily-that our worthy Chief Magis-
trate so thoughtfully and so promptly
sought the aid Of such rare administrative,
judicial and financial talent. And altho'
Secretary Chase has not yet finished the
stupendOus work committed to his hands,
nor yet done all that will be required OF
him in our glorious struggle for LIBERTY,
not yet seen even II resting place for body
or brain, we are nevertheless constrained
to say "well done," and to tell him, thro'
! these columns, that loyal people will not
forget the unparalleled efforts he has so no.
bly, and so successfully put forth to give us
the power-the financial strength-so much
needed in bringing our great struggle to
final victory.
We desire in this place to speak of what
in future-will be called the GROWING
act of the administration of our worthy
Secretary of the Treasury. We say in fu-
t ture; for now the people cannot or do not
) begin to estimate the results or the benefits
q of his pure currency banking SYSTEM
Enough, however, is already known to
give it great popularity, and to inspire the
belief that it will at no distant day, prevail
in all parts of the country. We have been
Q shaved, cheated and robbed long enough
e Millions upon millions of dollars have
e been lost annually, by miserably poor OF
an entirely worthless currency. Some o.
our States have legislated from year tC
e year for the protection OF the public, ano
have done much to guard their interests
; On the whole, we are in greatly improv
o ed condition, still we have no currency
@ except our national currency which is en-
# tirely satisfactory, or which answers al
- the purposes of business. This is univer
+ sally admitted by capitalist, bankers, ane
It men of all parties. We were greatly pleas
If ed during a recent journey to tind-ir
paying bills and receiving change-tha
everybody said, either at hotel or railroa'
IL office "Give us greenbacks." A good cit,
r bank bill of Philadelphia, Baltimore o
It Washington was instantly rejected. Loya
!, men and Copperheads all agree on thi
- question of the pocket.
Il The plan suggested by Secretary Chase
~ and adopted by Congress. to give the coun
40 try uniform currency, is so well under
stood that we need not refer to it in detail
III Already numerous banks, under this Law
h are being organized in every direction, an
a. very shortly we shall begin to appreciat
= and proof-sheets Of the new currency, an
e. are happy to say that. as specimens OF al
ne tistic skill and beauty, we never have see
g. them surpassed, ifequalled.
We will mention a few of the reason
nc why the people generally will demand tn
d, prompt adoption of the system of Seeretar
us Chase, and why every locality of muc
limDortance will soon have a. "Nation;
w Bank"
" .st. It will give to the people uniforl
81 currency-as it is designed, in furnishir
"a banks, to have the bills of each denomin'
ton exactly alike.
I'd. The engraving and entire workman
,at ship of the bills will be in the very highe
:. style of the art, and consequently the bu
a' mess of counterfeitinS will be, PRACTICAL
! ended.
ID. Sd. Every bill issued by every bank
matter where located-will command Il
he entire confidence of the community fro
es- one end Of the nation to the other, and pa:
on current at all times, without a question.
he 4th. Each bank will have as basis Fl
INT it's circulation and as unquestionable pr
of lection to the public, precisely the san
in security-viz, Government stocks.
m 5th. The faith of the whole nation-not
a single State-will be pledged for the r
nd demption of such a circulation, and ther
'"
u- all business circles.
in Such a currency would be used as N
lie dunn of exchange from the Atlantic to Il
X. Pacific, and would save the country m
lions of dollars annually now paid TO br
ed kers and shayers.
IRE 9TH. No jealousy or opposition could
on would xist between the banks, in a tin
Of of panic, on account of their relative sc
he vency or safety. A small institution
use Kansas would hold up its head as high
is the proudest corporation in the city of Ne
he York.
Dr. Sth One of the strongest arguments
nv favor of the National Banking system,
the great strength it will give to the Go
ar eminent, by creating in all quarters, CT
he and country, a demand for United Stat
i'd Notwithstanding perfect market
cb at least two or three hundred millions.
ne 9th. All these National Banks, when {
tablshed, may safely be used as Cover
ment repositories under the Internal Re