The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1864-02-27

-eIeTai interest seem to have been 0ur
schools, and the Bill authorizing the re-.
ception OF treasury notes, and notes of
National Banks in payment of taxes A.
10 the former il seems well settled tha, ~
great change will be adopted: the system
As Il whole Will remain. but perhaps soma
MINOR amendments. There will be verv
strong effort made to increase the duties -
County superintendent, and there seems
a chance that it will carry. AS to the 9th
cr measure, the House is determined ON a
direct vote by large majority after ful
discussion, that it would not authorize tho
reception Of notes by the State Banks
while they were taking the course now pur,
sued by them.
But ! noticed that this did not appear 10
proceed from enmity TO this Bank 50 much
as iroma desire 10 encourage the forma-
ton of National Banks. The debate uas
very earnest and able, and your member
Mr.. Bereman, is pronounced TO have made
an unaswerable argument on the subject
/ am told that our State Bank brancbe.
or, | ought to have said, some of them
which are paying out Eastern currency
get two per cent allowed them for payine
K on. that it is sent them and Greenbacks
taken in payment at two per cent premi.
um-that is, with ninety-eight dollars in
greenbacks they buy one hundred dollars
Of this currency and pass it to their cus.
toners. Do the banks in Your place nv
out greenbacks or National currency On
checks? They don't here unless it is 10 70
to some favored customer, by special
agreement, and no matter how much is
paid in, it all goes to buy Eastern trash. h.
Let the people" st0hd from under -
Mr.. EDIToR:- The above is from the
Home Journals Des Moines correspondent
and is understood to owe its paternity 10
Senator Woolson, OF Henry county. the
Chairman Of the Senate's COMMITTEES on
Banks, and Director Of the First Nation.
al Bank at Mt. Pleasant. / have not no.
ticed any report OF Mr.. Beremans speech
and consequently have no means of know
ing Just how "unanswerable' it NAV haya
been but, this attempt on the part Of the
Legislature to compel taxpayers to nav in
legal tenders, and notes Of the New Ma
tional Banks, will hardly strike the people
generally as being just the fair thing Our
State Bank was chartered by the Legisla.
ture and the law ratified by vote OF the
people. Three of the Directors are elected
by the Legislature, and, are not allowed to
own stock in any of the branches. and in
various ways the State exercises a super.
visOry control over it. The branches so
far have been managed with prudence and
safety; they paid gold in redeening their
circulation in 1851 when Illinois money
went down, and, gold went up from 20 to
80 per cent premium. and continued to do
So until the Government ceased to paw
coin on Greenbacks. when suspension be.
came general throughout the country. and
are now redeeming in legal tenders which
Is All TINS new uniform currency promises
to do. The silly paragraph III the above
extract about some of the branches raceiv.
ing two per cent for paying ont Eastern
currency, sounds great deal more like
being designed FOR local buncombe than
general information. or with the xpecta.
ton Of having any body seriously believe
It.
The Law Of Congress under which these /
National Banks are organized exemptS
them from all State, County. and local tax. /
alton. and millions of dollars will be in. /
vested in them, from which the State andI
Counties i'll which they are located will
not derive one tarthing of revenue. II II
am not mistaken in my figures, the branch
OF the State Bank located in Burlington
with $4,000 capital. pays in state county,
road. school and other assessments.
sl,425d
To the City Of Burlington, l,5OO,W
Total per annum, s2,G25,1
While q National Bank located right alond
side with a like amount of capital will NOD
pay Il ittt tOWdIdS ueITaNluH lue NpeUseY
OF our State, County or Municipal gOyern{
ment. All good citizens will observe Conf
gressional enactments because they are tha
supreme laws of the land and ought and
must be respected; and as the act abOvl
referred to has exempted the National
Banks from everything but national taxa
ton, why, that's the end of it; but l fail n
see any good reason why the Iowa LegislI
ture should consider it incumbent upo{
Ii,
institution in which the people have contt
dence back lick, without any correspond
ing benefit to the people; for after all it i
the people that are really Interested. d.
not presume the banks care straw whetht
er their notes are received for taxes or not
but it does make some difference to thOsi
that have taxes to pay. / notice that oni
member said he should vote 70 exclude th
State Bank paper because he wanted 4
''rally round the flag, boys" which is suTt
posed to mean that he was in favor OF thu
new banks because they are National: AMI
the J0n17anFS correspondent SAYS, 1T Ill
not proceed from enmitv To the State Banfl
but 10 encourage the formation OF NationJ
Banks Did it ever occur to these gen'H
men that the general government will had
no interest whatever in these new bank|
save and except to pay them about. ~ pd
cent. per annum nett after taking out the1
pledged for their circulation. So far frod
the Government having any thing to d
with them; they will he owned in mani
instances by irresponsible parties that vii
locate them at inaccessible points, wheA
there will be practically no redemption.
SuppOsinga man owes a debt OF fifty dol
lars and offers his creditor a fifty dollA
bill payable at the counter of the 'sFirst Nj
tional Bank Of Slab Town. Saw Log towr1
ship, Pine county, Minnesota; it is Refused
because 1t is not a legal tender. The hold
er that flattered himself when he tookA
that he was getting some Mniform currency
has either got to go to a broker and payi
premium for greenbacks with which to dis
charge his debt, or make a pilgrimagen
the counter of the bank. What would
think Of 'rallying round the flag N
alacrity with which these banks are h
organized all over the country shout h
folks that still have some cOnservatiy 81
tons on the subject of the currency
thinking. We may possibly be goingt1
fast, and the very fact that none y.sLarA
at central points are so jealous in aidng1
getting them started, should not be ID
sight of Within two days past bsse
heard it suggested that we are to have
.'Second National Bank i'm Burllngto1
and Horton IL Naiken, and Simon Ski4
EN- & Sens, and Clowburgh d Co., of CHI
cago, tperllaps have the names a lit4
f,,S ~ ~