The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1880-07-08

AsassA f#ss1s s#sl M t1sHstsfs IA "A tas4
s+sfH+#gst r. 8et4As Hs8l tsn tEHsass.
fassss sasi lsah ~ sh4p matastaaa Asaea
s44Fts 8s4as - aa4AtA s4AtA tAsHn Il | yaA
sssss Interest sHta tslnal III ~ 1vs
ps44t IA ~ fWAsAss NAfnt tA sas4 aAasssat
~ satAetssal. Asal sflii. slnttfa ail slytss
s~eststs AntA. ilsas s#a sssis tsHse tAt nN
n ihit eateMs isa lst ssts' lpf III.
ftttH. in' thsA rHs'thHt III rssAst iNu
aatis tbs tefsaa \ W sfu lNsafi. slsaetss
"A, This .ier iaid msfnnte "A rintplsA
Ma rsstfA sssssi rs ths npars l#aest. NJ
inalA~sAl nn sis lWeale IN isaEg. a. s~sns
atshsNsia'h hs tia ssaaasstt ia ths ltasstse,
isMnAusr n ssffnis the passage "a thr
hBsalt,Astft. ~ prssnssrk asi flss
mta,li Iafmsi thu issnfs il rsss4nisasAa II
mte*sifyst wfv rra.isll ii, fsssul ~
islhu rslsi ist.as a iwae,s ~ d faimn lsasis
~ lsanlinp. Tn Na,in.al nautiuu Al
aas alaaeei FL. -, i<si, aiihra,ph il
wns ffss suggested in lhssnl,4s, issll
anil siehRis urv,si during .seh s44sSt,m
~ tsmgrw~ until II ~as rnarispl
Euts iinanrial nre~ure II cmprp#
,l'ir'nr she unr, ssrr, rr,,i~i,an tsr thr
tssue II l~snls. pr.nharks ~ Treasury
n'ssr. sn@ strictly guarded anil SHAPED,
H. rsati,rm in iln interests ~ Tho mun.
lrH's banking -,.lnmrs Ia r,m,s,nl,ln
tim. Having .s,n.vi,,sl The hla III IL
Inlt,sl Siairs ln,nI h,sis i,,r M. ininre
hank currency. the, athi Il, watk hill.
rfa,.ly ~ rph thr nation ~ H. ,s,,rl~ lin
that rnrl~,... rlus hai r,l.l. all There
Was III TIN country. which liz, ipni ~.
reed &IA,.sN, INN. They authorized thu
iss,r' first II crippled lrltal .rn,lsr~. CON.
uriille IA lar intn hands They ,lnn
required NIL ,luiies Ia lW pail Ii, ,s,ill,
ktnwing that the demand III importers
tpr duty manrs Would enable them IL
nh,ain a. nr ~ ~ lsn,l money t,l n IL
duty mnilcs. Then 10 grt their ,lni,
mu,us hask they ma,lr thu ~m annual
lntrr'si nn tlmir lAl.lr, lmyal,l. III g,,i,l.
Finally. TIM public lsral.r alarmed II,
tlr iiicrcns. nf the bonded ,l,.ht. aul
Congress nn Mareh Il lS,ri. repealed
tn" CLAUSE ~ the legnl Tender mel
wlicl, ma'ln gr,v,,ha.k~ fnn,lullr
in'o borls. Fnilc,l Ia this. iim
bankers rMrtrl ~ another scheme
equally ~ favorable IL tl,.nlsrl,.s,
They secured thu passage VI law htr.
bidding she isSuc IL more tlnn siH,.
NM. .,MM III grvnlmrks, nud ~ Il blind IL,
thu ialllie induced Congress IL i~st,r
Mpmr al. .iaNl, ,tNNl,t nf interest nnd
MISUNDERSTANDING treasury
nntes. to In redeemed la ln,inls ~ lepnl.
tender money nj lmr. with accumulated
interest, NJ a lariMl not to exceed three
yrnr~ from, date. Il,ry could we'll afford
ta wait, tor nl,,.t II these m,tcs ,lf.w
either 3.lu ~ pr cent. compound
interest These they rricl down, un.l
picked ~ NJ from ~ ~ nv crnts on tho
dnilar IN cnin. nn,l Mhrn lhrs were ,lns
t.nk them viii, The interest accrued ami
converted most ~ lhpin in,u la,I,,ls ii
pnr ~ thu ba~in II their iululc banking
operations. lsy thr~ operations Ill.
bankers nln.lr MT. l~tWrun tln Years
lss'a ainl lssIs. ~ eltoW, hy tlr un.
or ssip,iaf Gf.t,,, 'ihir,l nS-i,,n, for,l.tl,
Congress, lnsc l,Gln, u, purchasing
Rr,.nlAarks M Il discount and exchanging
them fnr lnl,.ls III lMr. tl,r sum I'll S,i,s,
iii ,t,st5, aud I'll interest st.ta, iii ,t,so,
Total MT profit, Si,iTl .Mol 80.
W. now purpose a. siluW thnt tho IN.
tiru bonded debit III ilr nntluli. ulnl tln,
present MISUNDERSTANDING ealtal anl
machinery, including clrrnlutinn nnl h.
Ral reserves, inight llnse grown ont IT
il,r interest which ,l,r Government l,.i.l
IN the ttsaslir, mites tssinsl IL icin,s
iir current rNM'ilH.~. nnl TIM mt pros
ree,lS ot ,lisrountlng them IL otis,in unld
a. pny duties uil isilnrts. Al il.r rl,r.,
II Iii. Mar the gall ,l.a.lris hai ,,l.,.l.
II, n..rrt md Rnld prannns tn rn,n
II Al. l,nl, From ~ INN. NM IL
thia, thu entire present national bunk.
ing capital AMI circulation might hu.r
Rlnwll, while the Tp.,hN,. NM wonll fnf.
nl~h ln uMple lpsnl rrser,. far l,.url,
uf quite ths l,fennt hank circulation.
They might llas. purchased. anl IL.
lr,sitod with tin Comptroller Al INN. NM
III ltuli.ls, receiving il hank charter, nlnl
alro s!ltE,. .tAN In natinnal.INtnk currency
~ Rynd ~ Tint which they lnid iur their
la,n,lr. The, open lank ainl .l.lauitS
commence I" e"'ne IN. Which tin, ,sc
frrel, IL ,lisca'ntlng lmlnr. h,,,ing ~.
rhnnge, e,r. III fasi, the, have larr
inones tian tlsN can t,s.. NJ they tl,kr
III. sAAl, 'NAl VI their I'M, rlirrrllr, uisd
purchase Tint amount IL lpn,l-, which
they ,lela'sii nnd siart another hunk viii,
M I~r cent III The hni,ls ,aid hnek a.
tl,rM IN hniik nal,r. nh,,,lntlllR IT, sSlp,-
INN. This u ngnin ln,l intn l.,l,,l-, nj,
ntlnr bnnk started. anil sf.p. ..AO n,ur,, III
hank currency received.
Tho f.,lluMhp lnhl, shows tlle number
ii hunks That inns grow o'lt IL III. first
one. having n ,nlAl.,NM ~ capital, nlnd
thu amount III lpi,ln Deposited III Which
thu ils. nien draw se,nl.ani,unl gold IN.
trrcst: