Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1871-07-27

3 They tell u sDey no30 EOuu 10 tiir
old Democratic doctrine Of snnexa-
ton of territory. bu. they are opposed
to the acquisition OF SSanto Domingo
They pretend TO be for hard mon
ey,- bet propose TO issue an unlimis-
ed amount of greeubacss. They
pretend 20 respect the laws ard the
Courts, and they propose TO fisre-
gard not only the solemn pledges Of
our loan laws. but the decisions Of
the Supreme Court, in order to cheat
the public creditors. They declare
their opposition TO the National
Banking system, but propose nothing
70 take its place. In their wild and
blind opposition. they would destroy
the best system Of currency we have
ever had, merely because j. was
established by the Republican party,
though the first commercial nations
Of the world are applauding it, and
following our example, and though
Gov. Chase, now one of their candi-
dates, favored it and supports it.
Though no man has lost dollar as
the holder Of a national bank note.
yet they would derange all the BUSH
ness Of the country by uprooiing the
system, merely because there is sup
posed 10 be virtue in a party cry
against banks. They talk about a
Revenue Tariff and wise Tax laws,
and yet no member Of their party in
Congress ever proposed either. but
opposed every measure offered by
Us. When we repeal eighty millions
Of taxes, they vote against it. When
we devise new guards against fraud,
they vote against them. They talk
about economy, and yet they vote
for every extravagant expenditure.
They would load us down with rebel
losses in the war. They seize upon
every popular cry-here one thing,
and there another. In Ohio it il
''greenbacks;" in New York it is
"specie payment" in Pennsylvania
il is "protection;" here it is New
Departure" in the South it is a
perpetual war against the Amend
ments, and death to the Negro"
with the Irish, it is "Fenianism:" in
Kentucky, it is the resolutions of '9s,
Slightly revised" with jeff Davis
and his powerful followers it is
"discord, war, and disuniOn." Let
any impartial man look over the
whole field Of national and State
politics; let him look ut the danger.
Gus elements comprising that party;
let him consider what they would
probably do If placed in power; let
him combine In one cauldron all the
ingredients, and say, upon his oath,
it Is wise and polite yet to turn over
to the Democratic party the admin
istration of the affairs of a. great
nation like ours.
THE BANKING SYSTEM.
As to our banking system, it was
but the choice Of expedients, and a
happy choice 1t was. 1t subverted
an incongruous hodge podge Of State
banks founded upon the laws Of 81
different States, without uniform
value of local circulation, and endan-
gered by swarm of counterfeits.
These State banks were spawn Of the
extreme doctrine of State rights. If
anything should be national, itshOuld
be bank notes. They are the blood
Of the system. A centralized bank
like the old bank of tho United States,
was dangerous from ie utility and
power. 1t was managed by few
who were encouraged to use their
power for political ends. Our pres
ent banks are q unit only in their
security, form and circulation. They
cannot combine. When carefully
supervised and regulated by law and
well distributed, they form the most
convenient financial agents Of the
people, and In comparison with the old
State banks are preferable in every
respect. The only question we can
raise in the future about the national
banks is, whether notes issued di-
rectly by the Government, and re-
deemable by the Government, may
not supersede the necessity of the
bank notes. This would save to the
people the interest on the circulating
notes. Their credit depends mainly
upon the security Of the Government,
and the Government should share in
the profit. But on the contrary, the
general objects Of Government are
not consistent with other necessary
functions of Il bank. The operation
of loaning and redeeming notes cam
not be safely performed by Govern
ment agents. 1t must he done by
private persons personally interested.
Government banks could not be pro.
/ perlv Distributed Even officarS Of