. . . the best and safest currency the people of Iowa can have is
that furnished by the State Bank. The
New England banks must sink or swim with the people of New England. That section has suffered severely by the
rebellion, much more so than the west.
The same remark applies to those of New York. There is no propriety in our people keeping
in circulation and thus lending to these distant banks, of the soundness of
which we know nothing, the large amount now afloat, especially while Eastern
Brokers are skinning our banks, which alone pay specie. Iowa Banks should fortify themselves with
Treasury notes with which to take up their paper in the hands of these carpet
sack men, send them home the foreign currency which floods our State and supply
its place with their own notes. This is
what should be done and what the people of Iowa will sustain them in doing.
– Published in The Burlington Weekly Hawk-Eye,
Burlington, Iowa, Saturday, April 5, 1862, p. 1
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