Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-12-05
Missouri Legis lature.

1.-The Murder IS out" we nave got the uetSoh-
able letters. Col BENTON brought them from JEFF
ferson in his pocket, slipped them into the Argus
Office on Tuesday, and the same afternoon cut and
run for Washington-not daring to stop to see the
explosion Of indignation which was to follow their
publication the next day. 1t was well for the Col
that he struck in an unusual number of capitals,
so as to indicate the parts which were deemed OBJ
ectionable and excited so much Of the bile of HANS
SMITH and Speaker PRICE; otherwise, we are sure
plain, common folks, such as compose the popu-
laton of Missouri, never would have been able to
see any thing vlainous in the letters Of the Lon
don Bankers. No party movement of modern
times can equal the folly of this petty attempt to
| distort the correspondence of Banking house in
London into conspiracy to bring about the cleo
ton of Gen. Harrison. Col. Benton and all en-
gagged in it ought to be ashamed of themselves.
The whole matter is supremacy ridiculous, and we
do not wonder that the better informed men Of the
party here, should express their disapprobation of
the which has been taken about this cores
pondence. 1t is not in their nature 10 stand every
thing-especially when they know that such follies
as these have placed them in hopeless minority!
1t not yet satisfactorily settled how these let
ters found their way TO Jefferson City, and their
contents to the knowledge of the public That is,
however, an unimportant matter No objection
could have been made to their publication in the
usual way, on a call from the Legislature, and in
connection with other portions of the correspond
ence They are published. however, and it is with
the letters that we have to do.
| We venture TO say, that no case is on record
where so grave a charge has been made upon so
slender n foundation. What are the facts =! The
State Of Missouri, to pay up its stock in the Bank
the expenses of the Mormon ard Usage Wars, its
State House, and other liabilities, was obliged to
resort TO the borrowing Of money. The Legisla-
ture authorized the issue of State Bonds. They
were sent to the Atlantic Cities and there hawked
about from one Brokers shop to another, without
being touched by any one, to any extent Capitalists
were afraid of them. They did not doubt the abil-
ity of the State but they did question whether her
faith would be kept with them, so long as it was
under the control of Col. Benton, who, they knew,
laughed at the invoably of contracts. had derided
State credit, and advocated every measure which
had tendency to destroy it. Effort after effort
made--agent after agent was despatched to the
East, but no body would touch our State Bonds.
1t was then determined to send agent to Europe,
to see whether Capitalists there were willing to
trust to our good faith. 1t was six months Job
cost some eight thousand dollars, and ended in get
ting nothing. The Capitssts Of London and Paris,
as it happened, had their pick Of American Stocks
all of which were much depressed and they did not
care about dealing in new security, the character
of which was unknown to them, and about which,
ma Ee innu ria thayc hap cd
nothing very favorable. Mr.. Smith selected the
house of F. HUH g. Co., as the Agents of the
Bank, and left the Bonds with them. 1t was
hoped, that some change in the money market of
Europe would occur in few months, and early in |
the spring of this year sales were expected by the
Bank. In the interim, systematic attacks were |
made npon the credit of all the States first by Mr.
Van Buren, in his message, and then by Benton |
GruDdy, and the whole tribe Of Loco Foco orators
and presses. The knowledge of these extraordi- |
nary attempts to disparage State securities made
part of the creed Of Mr. Van Buren's party speed
lily crossed the water, and, as they were mainly
owned in Europe, excited more interest and were
better understood there than at home They at
once saw, that if tine States of this Union were
to prove faithess in their contracts, they must lose
not only the interest but the principal of the stocks
which they heidi and it is not surprising that they
were very chary about making new engagements, |
and looked with much solicitude to the course Of |
events here. In Mr.. Van Buren's administration,
they had no confidence, for he had already been in
strumental in deteriorating the value of the secu-
rites which they owned. They knew that fierce
struggle was going on between the Wings and the |
Van Buren, party. They knew. n1so that IL uoS n
canon OF the Wing party. that the public faith
should De preserved inviolate, both State and Ma
tonal. As a matter of course, they perceived the
advantage which the defeat of Mr. Van Buren,
would bring TO them !; and, as prudent business
men every where would do, they determined to
await the issue of the election. Their money was
their own, and they had the right to invest it in
american securities, or not, as they pleased. This
was the general feeling; and Messrs F. HUH g.
Co. in answer to the pressing solicitations of the
Bank for money, and wishing, as its agents, to sat-
lsfy them OF the inability of eiecting sales at that
time, frankly stated the reasons which controlled
European Capitalists in declining to purchase State
securities. How they will be surprised 10 learn,
that their frank business letters have been tortured
INTO an attempt to bride the democratic people of
Missouri, through their democratic Bank, to vote
Tor Gen. Harrison as Presidents and that distin-
;uished Senator has gone off to Washington, full
charged with these letters, as incontestbe proofs
II concerted design, on the part of European
capitalists to interfere in the election, and make
General Harrison President of the United Sates!--
How much they will be surprised to hear, that the
Legislature Of Missouri has made their letters the