The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1864-02-06
Foreixn Rank Currency.

Inc prO01Dll1On Oh TIC ClICuidLAOA VI DAN
bills Of other States in Iowa, is anothe
measure upon which there has been n
movement by the people. Nobody asks
but few interested parties, and there is n
reason why any other parties should asl
it. There are no Bank failures. There i
no worthless and irredeemable currency il
circulation. There is in fact no imitation Q
the currency, but on the contrary there !
rather scarcity to meet the requirement
Of business. Under such state OF things
to exclude the good currency Of othe
States, is simply wanton rasplng OF tn
fingers of the people, and an uncalled 10
attempt to control and worry item in thei
every DAY financial operations. We trus
that members from the border and rive
towns especially, will remember tina; tn
proposed law would be u source OF daIi,
annoyance and constant injury, and tina
the interests of their immediate constitu
ents would be seriously imperileG by sucl
| law.
| Things are working well enough; le
them work. If people prefer greenbacks
all right; but if they are satisfied TO TAKE
currency, let them alone. Such law coult
not be very generally enforced, ard while
it remained on the statute book would bt
too fruitful OF curses for the peace 81 min,
of any Conscientious man who Shalt .sssls
in imposing II upon the people.
We cut the above from an article in tht
Gcte Gig Of Wednesday. The Gate takes lis
turn with the Republican press generally
in informing the General Assembly Yha.
il thinks should and should not be done
which is al right and proper. We should
not refer 10 the subject al al bH. that i,
does not content itself with Simply saying
its say, but goes out of its way, like many
Jealous persons, to cast impu.ations upon
those who differ with il. We have urged
the Iowa Legislature to exclude foreign
bank paper. We thought we were doing
it for the public good. The G0;c says no
body asks the exclusion OF this paper but
"a few interested parties There il 10
reason why any other parties should ask
it, says the cate.
We take issue with every statement con-
tanned in the above paragraph. There il
not one grain OF truth, a single deduction
or argument, that viii bear the test Of eS-
animation. 500, GOO OF Green backs have
our currency un,l i takes 81, 5S
cents in paper 10 buy one dollar IN gold
In addition 70 this, five hundred millions
of six per cent tive-twenty bonds hds. been
taken by the people, a large proportion Of
which are becoming the basis oi other
banks and bank issues. Mr.. Cng-e il Is
suing ave per cent legal tender interest
bearing notes II a large amount. which are
going into the banks and taking the pace
Of idle paper, and thus increasing the infia-
ton. Mr., Chase will probably soon com
mence issuing batch OF Six hundred mill
lions Of tent forty bonds bearing five or six
per cent interest, which will, like the I've
twenties, form the capital stock o. still 9TH
or banks. This is the present condition Of
our currency, and yet this knowing editor,
who assumes to know all abou; currency
money and banks, says there is .'tlo a3.9a-
tor, bat on Tie contrary. there Is ratder q
to meet the requirements Of base
ness"
There are thousand little banks Gown
East, scattered over New England. New
York, Pennsylvania, New Jersey. elc., tie
paper Of which is largely circulated in
Iowa. This paper is not as good "a Green
backs by half a per cent, consequently the
currency is sorted by business men and
who take ii in mixed condition.
but pay out no Greenbacks, but only this
trash which the people take without
knowing anything about. Who are inter
ested in circulating this bank paper in
Iowa and who in excluding il? Accord
ing to the learned financier Of the Gate the
people do not want or ask a currency OF
uniform appearance and uniform value,
which would reduce the price OF exchange
and cut down bankers and brokers profits.
Nobody asks it but q feac interested parties,
ind there IS no reason schy otter parties
should ask it," Nobody asks a currency
equally good in New York and San Fran
cisco, receivable for public dues, Of uni
orm appearance, so that there need be no
study Of bank detectors and no submis-
ion to the tender mercies of bank sha-
,ers, "cxcept q fer interested parties"
Should one result of this war he to Sc
cure to the people q uniform currency and
wipe out the myriads of irresponsible
banks which have heretofore furnished the
people miserable currency, it will have
lone great good and saved the people the
oss of millions of dollars yearly by bank
ailures, the cost of exchange, &C., &C.
And if there ever was time when a Ma
ional currency was attainable, that time
8 the present. Now is the time to make
he change. 1t can be made without risk
without danger-without q monetary
rash. 1t can not only be made safely, but
here is safety and prudence and wisdom
n making it. For there will be time, and
hat time is not many years distant, when
hose banks will go Oft like rockets, and
he people, not the bankers or the brokers,
will be hurt.
MISSISSIPPI ExPEDITION.-The 10th
Army Corps, under command of Maj. Gen.
J. A. Hurlbut, which has recently left
Memphis for the field, contains the follow
ng Iowa regiments:
First Division, commanded by Brig. Gen.
I. NJ. futile, of Iowa. First and Second
,rigades none. Third brigade, the 9Th, !
9th, 33d and 35th, Iowa Infantry, and the
nd Iowa battery.