The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-09-27

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slte Isl, issaflF IT, issale ~s'i sta'Aiss II
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l~aihsss,s w vaas ~ u rvs ani itssi.iH tnh ~
Sas4ass ii, tsis lass4W# AMI nfa sssi lnsssisAls
lHf h.tssfs III banking asAi h.tasssss*l astaisRs
ntnt- In tlss ps~t Ia war; las mt Fas.,is~l
{ she peoples tnssWs,sl Independence ani sltis
/ rsnntrtsan ~ si44ir Iasnish' II shn ell rAan
/ tsai anil 1. the nlh safksalinp atsd ssssndnA
ls,pss-s a~sfnl ss,ls IL sl,n 1rssssi powers, II
siil rsell llHif rslisttls asalth. alal thorls
nak. vfst.fssl ANIL lstaf The hafl working
lwsaIr
rl,I antn n..is
i II a rtantoIit a myth; ihlng VI iltv Iinsgina
/ tiani = istdAlisns a I'M sInWfr~~iss itl.a, amt
4 lie III hshatsl. In rusfst..s Iii on,
e,nnsf, IL, nearl. ia, wears has rr,,ir-r.ti i
fn.t ~ n. hst has i.en ~ elastic that, likv Ii,
j ,f,grn gaa, II la. lvsn immensely altusr tt
i ssasssals rvrslilE fs,iii~ wright un II IN
1 i~s. I'm illu~slaii,s -leeir resumption ~
i paying l.ank IN l;lssl. lralh was inspected II,
Z sin state authorities, VIII Iuatd a currency i
-ne.i II ss~.,u, anil uni, s~s ~ IN sain IN ,l,s
vaults III tlW bank ~ frlssm IT. circulation
1 Ihi. i~suminn known lel ntl,.r Niase- ID Ia
rlres tl.if hanks. anil, iiu,ling similar iernllr
ii created great panic throughout New I'm
glana In l>ia Tin tHitesl siat.r ltauk lal In
circulation sla.ssa,un, anil hal hi iir vault.
ss,Ns.,sn In ruin. In lNiii alist isi4 the hanl
circulation, IN tain IN lie ea.nit, MAS 81.
upt.t In ISL ami ISIS u was siu.'sst.sn
III ISM ilte, hal contracted u back H. ~,
us.aA nj eunrs II created = great panic
bankruptcies aii.i Distress ia tile t,lpsttatt,n ~
hnriHr-. Great financial Distress cauiinurs
Through "a ls!s In lss ilHiv was u laig,
creation II iliv~e sanis Specie fsa-.impi tim AMI
redemption lankr IN the Middle ksas,r, Ii
ni.ts States IN the Snnl, ana III Missouri mnie-~
rom. Al that time q anarchy aud a, di-.
Hut III ls.I MI slr hanks hepan ~ expand the.
currency The i,ank III ihe t'nile,I states ii,
creased it, issno~ over sa,uA,ssst hut earl
In lSs, disaster salne uln,u orr furtei
ins naihe1 slnre darling in-tih,"
Ne hal hi i.sH fur the tir~t tin,
copied IN our ss,le IT banking. / n,ean II,
banking system If England |, Wnnld hay
h.eh Nl-n Ia ilas. avoided Tint fatal tpsk
Ilnl Alesand.f Hamilton thu first seeirsaly Il
tn, fra~nr. In tliir Government under WASH
irgssn, I,eilp ~ heart AMI expressed iauguag
mnnar.liri insisted oii roiltinE ih
n,,ilaIel,ir, SYSTEM ul enrr.nc, and lnp,a,,
though rtI,iiRl, npp.~ed lay Thomas iritef-o
and DANES Mndieuii and their euspafriuts Nil
| then advocated and believed that II ALONE Il.
hinged ~ the Government III t.rii" solely n,
. currency Ia Ine.i tlp' Waite NJ thu naiiatl III
Hamilton AMI lis ~ssi prevailed. anil r,seset.
I III getting national hank chartered IN III e
: taenss wars, with capital IT siuHs,..n. |
. I'LL They applied ior u 'es charter, In, i va
mt granted
would here sas lint jefferson gave write
uinia,, Willie sseta.ars af staiu. denying III
powers III Congress- 10 Incorporate n lsank, All
Madl-nii, by u powerful ri4r.h In Congress. ri
la,-.sl II M Violation ~ ilne constitution.
. lint In is.i. to ~ III. III. liank III tnsat
fuiind il necessary IA .liriail ilr Discounts II, III
i ser ~ check the austloa III bullion 1il- a4e,
, rloi,sd terrible eia.t III England ssiy.ial
i banks failed, and mari, twasihirdr 81 the me
: .liaris and manufacturers starped pasme,,
causing graf Distress aIlolis The working eiAr
| m Ilnrn1ll gold hcgaD 10 iIow fro,l n
United s'ainr, alrl the hunks Ia this .pthif, h
sa ,, =, -n,. I! .s., payment, fin, Iaa s
all asef III. country, ltnt thi~ country did II
i raflet !, severely ~ England Mn, after. /
the high turin III ls.l aud ls..~. md bs Il
i huil.llng u railroads, which, l4gan IN iSh, Il
,l.t~iIial activity MAS somewhat stimulated. hli
= DaserlleleA-. business generally continued
"a
II Ind hesn fastened mn the country. anil dstiss
& WAS tlinfs ur lies common
i INV II will IN apparent Ia livery eanld nil
: that this srpaeie larirs s,rtsin--siis .hnnu
ii n,,IIs,a rssi.inis l.,,t atlapt.d Ia tho Waits
i free laulle. Tits SYSTEM, sAss All ,nlihe
writer. ha.l lsset IL, operation fuf OYER quart
ii u tsii.ifs, ad during tn wliole time, II
country lind Hasi uilaa enjoyed thu n,i.aniaR
il Ut u raiiid currency. Fsetilliafy Distress pr
nelieal feiui1,s uf expansion aud contraction, q
ranged currency. ruined exchanges. and rahi
4 anil COMMISSIONS hal characterized the enil
Ii partial tn hankH, although barol IN In
|. i,oHs mil pipi.ssilig 10 pay ,.,in, wera
. rtAte ~ chronic siispunriut. 1lle prer-
tlse country aar completely rnlsi'liMd; Go
! H.rr, NJ we'll NJ tn State Legislatures. bow
ID IN alI.et rll,Inlrsi,tll ~ tie mandates III 4
4 ll.ouey isowsr; anil even tile Aurrnina Court
~ shs United ssaier did mt escape IL eontamina
Il Ing influence, 1iN people wara perfect, hsi
II le-r, and tl,a ousln,I u American liberty ii
il Independence was dark, indeed.
il hight lITfT II liz worthy uf mention TINT
i, William l'itt Ia is.l, wh.u Hamilton bfo,ia
81 forward ll% funding AMI banking rel.ine, rai
- .t4t' Tin Americans adopt th.r funding SYST.
il Ainl ~ int. their banking institutions, aud III,
y l4,artssl independence viii lA' n.ar. phantan
lat liz s'inenllst eyer that William lin MA
true ffiund " America. AMI ss.f pleaded
Parliament for the wrongs ~ An.lisa 70 h.
= dressed.
J, III ~ Glen. Jackson Mas elected pr.~isl.h,