Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1864-06-11
The New National Bank Act.

If it has no hitch in it not understood
here, tn .journoi ~ Commerce thinks, may
BE- considered as fair n settlement ct the
difficulty between the State and National in
situations as could have been anticipated
We qu te
Both classes Of banks are now left to
struggle for life, the old banks with only
thr prestige Of former success in their favor,
and the new banks with the aid Of all the
immense patronage Of the government. but
with no direct tayoritism in the law ITSELF
All the National banks are required to re-
deem their notes at par at certain so-callcd
commercial centres. to be selected by them
selves, subject to the Secretary's approval,
such as Boston, New York. Philadelphia,
Pittsburg, Cincinnati, st. Louis, Chicago,
New Orleans. San Francisco. etc, and the
banks at each Of these centres must redeem
Mt par at New York This makes system
attic par redemption, little more round
about than could be desired, but still a great
stretch beyond the requirements of the old
law. When holder here has a package of
bills on a country bank, instead of present
ing them to redecming agent here, he
must send them to the distant centre where
the bank rclcems, and thence transfer the
funds again to New York But even this
is better than chasing the country banks up
at all Of the crossroads to realize on the
circulation. The system has thus been
greatly improved and will now have fair
trial We have been opposed to it on
principle, and our judgment will be vindi-
Gated one day
The amended law will allow the n. Y.
Bank of Commerce, with its $4,000, 900
capital to bank under the law without a
change Of articles OF association, or on APP
peal to the unanimous sanction Of share
holders. The same clause would also au-
thorze the American Exchange Bank, with
its capital OF $5,OUU,OOO and 20 per cent
surplus, to bank under the new system,
without change of organization.
The Baltimore Platform.
The Chicago Journal gives the following
synopsis Of the Lincoln Baltimore plat
form:
The resolutions declare
That everything should be done to qucll
the rebellion and punish the rebels
That no compromise should be made with
the rebels
That the Constitution should be so
amended as to abolish and forever prohibit
slavery;
That the Federal soldiers and soldiers arc
entitled to the thanks of the people,
That Mr.. Lincoln is u man of practical
wisdom, unseltish patriotism, and unswerv-
ing fidelity to the constitution and the prin-
ciplcs Of American liberty = that his eman
cipaton proclamation and employment OF
negroes as soldiers are especially worthy of
approval; that nobod, is worthy Of conf
dence that does not endorse the principles
of these resolutions
That the government should protect its
sold ers without regard to color;
That foreign immigration should be fos-
tered
That railroad should be speedily built
to the Pacific;
That there should be economy and rigid
responsibility n the public expenditures,
and rigorous and just system Of taxation :
That the people are opposed to the estab-
lishment Of manarchial institut ions on this
continent
ANDY JolINsoS.-A Lincoln nevspaper
calls Andrew johnson 9TH. proteye of Jack
son and friend Of Douglas Andrew Jack.
son Donclson was also the proteqe of Jack
son, but he subsequently turned up the
kaou nothing candidate for Vice President