Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1873-10-02
The Panic.

leaQlng newspapers Oh tne country III
reference to the late financial trouble,
now happily almost past, though
somewhat conflicting, are worthy Il
reading by those who want to know
the views taken of the matter by
men who have good opportunities
or understanding it in the cities:
The general cry is for few more
millions of the hational currency.
The public confidence in this univer-
sal paper circulation of the country is
unshaken, and here we have basis
of security against any financial dis.
turbance which we never possessed
under any other system. The ques-
ton now to be determined by the
government is the question of tenn
porary paper imitation to meet an
extraordinary contingency though by
many financiers it is held that the
smallest paper imitation involves
further postponement Of return to
specie payments. From all sides,
however, we hear the complaint that
the paper circulation Of the country
is not equal to the business wants of
the country. In any event, if twen-
ty, thirty, or fifty millions Of 'cnrren-
cy will relieve our banks and mer-
chants from the embarrassments
which otherwise threaten them, the
President will be endorsed by Con-
gress ard the country i'm this timely
measure of relief.-New York Herald.
Since the close of the war there
has never been a time when our
mercantile community have been in
q better condition than now. Their
engagements are lighter than the
average for several years past, and
every department of business Is un-
usually prosperous. For the first
tine since the suspension Of specie
payments the balance OF trade il
turning in our favor. Excepting our
new railway schemes, which have
been flooding the market with their
paper, and which have been impor-
tunate borrowers, there Is little in
the loan market to indicate danger.
IN. Y. Chr2nicte.
A hardware firm of Chicago stated
Ftonn h,terg 0cedN reporter, dny Ur
two since, that they had received
more letters in the last week, from
their customers, asking for discounts
on their unmatTed paper, than they
had received i'm the same time before
in two years. In certain sections OF
the West, where portion OF the
crop has been marketed, debts seem
to have been liquidated promptly,
and country dealers are ready to set
tie demands against them In advance
OF their maturity. Whatever the re-
suit Of the present stringenccy, this -
an indication that the West js ~ q sol
vent and really frsspotousc condition
Banks may fail, stocks may tumble;
but grain and beef and pork are nee
essities for which the demand cam
not cease. And these necessaries the
West has in abundant store. She Is
something in the condition ofa man
who may have scanty furniture IN
his house, and q rather dilapdatcd
wardrobe, but who has happily paid
his debts, has a farm free from in
curmbrance, and we'll filed .granary
upon which he can rely with certain
ty for ready money to refit his prem
ises and meet current expenses.-r
Inter- Ocelga.
Only through some sharp discipline
like this can a decisive terminatiOH
be put to the periodical rage of spec
ulation in fancy stocks. We speak
OF these railway bubbles more ut
length because they have been the
latest Of the delusiOns. But Df
course, the reactionary and beneficial
effect of the failures which we record
from day to day will be felt in many
other respects. Banks and banking
houses which have been too greedy
to take great risks for great prospect
i've profits, and have snubbed mer-
chants when they wanted loans, now
learn that the slower, more conserva-
tive policy is the best after all. They
learn that the only true dependepes
of banks is on the solid business In
terests of the country; that they
cannot refuse to give proper accom-.
mOdatiOn to merchants and extend
their aid wholly to speculative
schemes at uspriOus rates without
inevitably incnrring the penalty.
We know not how searchingly the
present crisis will test the soundness
Of our banking system but we un-
dertaket to say that the banks that
suspend will be found In nearly ev-
cry case to be those which have
done the most cold-shouldering To
merchants in Legitimate business,
and have dabbled extensively in the
railway and other pretarious enter
pris OF The day. Banks sGouid not
no,o be in di1scutty II Their loans mers
placed among tie mercantile class.
And 80 we come back always to this
eternal truth-that speculation dYa
not pay.-N. y. Journal Of .Coz4s
Daerce.
c. Z. Whiting, Of Mon0na Goun-
ty, has been placed upon the Anti
Monopoly State ticket tor Lieut..