Year: 1864

We were not aware, when We
penned some remarks the other day against
the policy of enacting law in our State
to exclude the bank bills of other States,
that the measure was pet scheme Of oul
friend Of the Hawkeye. Had We known
that fact we should, Of course, have sup
pressed our own views in Difference to
SO distinguished an authority on finance
and currency, but we are in for it now
and must stand by our opinions if he
should annihilate US.


The Hawkeye regards the currency ol
the country as redundant to an extent
measured by the premium on gold. if we
understand it. And the remedy it pro-
poses, for this inflated circulation of the
entire country, is statute excluding the
bank paper of other States from Iowa.


Now, We do not propose to adducs the
various considerations going to show that
the currency of the country is not inflated
to dangerous extent. Nor need we ad-
duce arguments to show that the remedy
proposed would not be adeq uate to the
evil, if it were 90 inflated. Such stat.
ute would have no general effect on the
currency of the country, but would sim
ply prove an annoyance to emigrants to
our State aud citizens thereof for awhile,
and would then be evaded and disregard
ed by at least one half the community.


We desire, and the people desire, a
currency of uniform value, and we expec.
to have it after awhile, not however by
means of warring aud prJhibitory State
legislation, by score or two Of indie
pendent Legislatures, but through the
legislation of Congress and Mr.. Chase's
National Bank system. That is the scurce
to which we and the people generally look
for uniform currency, and things are
rapidly tending to bring itabout- 1t is very
! clear that State legislation of the charac
ter proposed will no. help is to a uni
form currency, but will only add 10 tn,
evils and annoyances to be encountered
In our way TO that grand desideratum.
When the National Bank paper is is
sued in sufficient quantities TO meet th'
requirements of The country, We lool
to the taxing power OF Congress and III
public sentiment Of the country to secur
a uniform currency. 1t is to State legis
la.iou that we are indebted for the presen
variety and lack of uniformity in tn
currency, and it is utterly preposterou
to expect uniform currency TO be re
stored by the separate action of thirty
five State Legislatures, each one of whic


is to protect and endorse its own bank
and prohibit and discredit all others.


| There is no difference between tn
editor of the Hawkeye and ourself as





the desirableness Of uniform currenc cy


But he processes to seek that end b


warning State legislation, excluding ban


bills of other States and protecting thos


of their own States; while We would leav
the matter to the legislation of the Ger
eral Government and the influence of I'll


superior advantages presented by the un
form National Bank circulation. Aud
carrying out his scheme he would make
man criminal. and punish him by fir
and imprisonment, for doing acts whic
he has been accustomed to do in perfe
innocence all his life, and which hab
! convenience and interest will prompt hi
$ still to do in spite of the crotchets Of lie


islators-while we, on the contrary, won
leave our citizens free to exercise the
9 own judgment in the premises and
the influence Of public opinion and volu
0 tary self-denial exercised in reference
all local bank paper, secure a gepel
/ sentiment in favor of uniform curren
:, throughout the entire country.