The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1864-04-28
For Che Telegraph.
NVE VIC NOIVb uPIIs
The Rnnk 0neHfi0n.


ever the editors of that paper turn their at
tention to financial matters, they show how
easy 1t is for men to be wise, discreet and
sound upon some questions, and the very re-
verse upon others.
The editor, Familiarity known as 'LoNG
JOHN, nearly quarter of a century ago, had
periodical attacks Of money-hydrophobia, and
until his exclamation points lost their infu-
ence, and his capital letters their significance,
inflicted serious injury to commercial affairs,
and upon commercial men.
1t cannot be questioned but that large
portion, and perhaps the largest portion of
mankind have the same habit of mind as the
Frenchman, who went to Bank to Withdraw
his deposits. If the Bank had plenty of mon
ey be did not want to withdraw any, but if
it had not plenty, he wanted to withdraw all
his money. For this and other reasons, it is
dangerous experimenting with public credu-
lily upon financial affairs.
A paper having the extensive circulation
Of the Tribune, conducted with conceded ad-
dress and ability, might do much to produce a
financial prostitution, but could the editors Of
that paper look with complacency upon the
wrecked fortunes, strewn upon the ground
consequent upon an ancalled for panic? We
think not ....r .-.
We cannot but believe, at this time, when
the future destinies of this people are being
arbitrated by the sword, it is an unfortunate
moment to undertake to sap the foundation Of
the moneyed institutions, local or general.
| We call attention to the Wisconsin Banks.
whose issues are secured by deposite with
the State Comptroller, of U. S. and Wiscon-
sin State stocks. Can the editors of thatpa-
per name any safer currency, whether United
States Or otherwise? We pause for reply
We cannot, to-day, stepinto the Comptrollers'
offices, Of the States of Ohio, Michigan or In
diana, to examine the stocks which the Banks
Of those States have on deposite, or to read
the statute law by which they have legal ex-
istence; but we may be permitted to give an
opinion that the enlightened legislatures of
those States have adopted the same, or as eff
ficient safeguards as Wisconsin, against loss
or depreciation, from State Banking Institu-
I ii ons. a.E t-.
1t is hardly presumable, that in the great
wheat & wool-growing States we have nam
ed, filled with wealth and plenty, that their
banking institutions are wanting in frmness
or tie ability to withstand any vicissitude
1t has long been the practice of banking
institutions located in certain leading CON-
mercial places to take advantage of a slight
oscillation in public sentiment, to cry 'swolf',
and drive out the issues of other places-is
sues, perhaps at the same time, more safe
than their own-that their own might take
its place; but we have also noticed, and not
without some satisfaction, with what fearful
rapiditg the evil has returned to plague the
inventor"
Throughout all the period Of this fearful
strife, while the armies have performed a
noble and manly duty, during the same pc
Rod the local and State Banks have met the
requirements Of the government in the same
manly and patriotic spirit. Whenever Mr..
Secretary Chase has required additional
means to meet the demands upon the Cow
eminent, visit of that officer to New Yo1 4,
Boston or Philadelphia, brought the willing
cooperation of the Banking institutions of
those cities to the support Of the Government.
indeed, we believe it may be said, without
exaggeration, that the great financial strength
OF the Government lay in the monied insti-
tutions Of New York. Strike these down, and
the Government will have but initiated til
example of Sampson, who pulled down the
temple, but was himself crushed in its fall.
Among the evils which result from stri-
king down and lessening the number Of
Banking institutions, is an augmentation O
wealth in the large and subtraction of
wealth from the small commercial places.
This change in the monied facilities de-
ranges the business in the smaller markets
and manufacturing places, but adds strength
and vitality to the large ones. 1t clearly fol-
lows that the war thus periodically waged,
is war on the part of few great CONNER
cial centers, against the great body of less
important places
More than quarter of century ago,
when the anti-Bank and Benton Mint.dron,,
democracy were in decided ascendencv in
Michigan, brood Of wildcat Banks were
chartered by the Legislature of that State,
whose issues were virtually like the money
that turned to leaves in the beggar's pocket ,,
but the people of Michigan learned lesson.
But aside from all these questions, it looks
to us to be important in view of the high
prices of the necessaries of life, consequent
upon the revenue collected from them. and
the other direct taxes upon business, that ev-
cry good citizen should raise his hand against
any indication of an attempt at CONNER
cial crisis, or, indeed, any attempt to drive
out one set Of issues to give place to another
The Government issues find foot-hold
wherever they goand they have at all times,
and will continue to command public conf
dence. Whenever, by gradual withdraw !
al OF State and Local currency, its place can
be filled, and relatively to the smaller as well
as the larger places, by Government issues
it will present another question
10000 NEeEa for three Months Service.
CINCINNATI, April 24.-Gov Brough has
issued an order calling the national guard Of
Ohio into active service for one hundred days
They will be clothed, armed, equipped and
paid by the United States Government, and
will report for duty May g
The order says our armies in the field are
marshalIing for decisive blow, and the cit
zen soldiery will share the glory of the
crOWpiuor victories IF tl,o