Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-07-11
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COrrespOn denCc.
THE BANK OF MISSOURI.

Ifany thing were necessary to demonstrate the
intrinsic importance Of having wing majority IN
the next General Assembly, the letter which lol.
lows, from one the most intelligent and reliable
citizens of St. Louis, will furnish it.. As remark
ed in the Circular Of Col Birch TO which we
invite special attention in all its parts-in this
county and elsewhere) "Ihere is something mex
plicable in the management and course oil the
Bank" which will perhaps never be revealed 70
The people so long as majority Of the Legislature
is composed of the apologiS,S and defenders ofits
Directory.
uFThe people have been long enough in
darkness 10 desire highland they will have 1t!
ST. LOUIS, June 25th, 1s40.
ID The Editor Of The Booa'S Lick Times
Sir,-You are aware, that the State BANK OF
Missouri is, and always has been, controlled Oy
Politicians of the Loco Foco school, You Know
also, that they adopted last November resolutions
having very injurious tendency upon the interests
Of St. Louis and Of the State. You must be aware
that, by the rapid curtailments which followed
the citizens Of St. Louis were sorely pressed Tor
money--that they were compelled to submit TO
ruinous rates of interest in order to obtain The cur
rency, and that the currency was then shared at D.
6 and per cent. for bankable funds Hurd as were
these eXactions, the people stood up under thein
manluy, making all sacrifices to preserve their
credit and in most cases doing it, Fortunately Tor
then the business paper has matured and been Palo
Fortunately for them also, the discounts TO them
upon the accommodation tine were tritlng-that
kind of discount being reserved more especially fpr
the loyal Loco Focos fuvorite mode Of bushes
at this institution is known as k,ttng-the selling
of n Bill! to the Bank, on Illinois or some distant
pont-not with the expectation Of meeting 1t at
maturity, but of having it withdrawn, by renewing
| it for a smaller sum-well, these things have all
had their day. and the Loco FOco rec pients OF Ia.
vors, theirs. Pay day has come-Ond 10, they hnd
it hard matter to pay up even 10 per cent. every
four months. They begin to find out, that these
hard times, now that the bank cannot help them
along. For some weeks, and more particularly
within the last few days, some of the Directors
hard money men as they are-have been suffering
severely The consultations of the Board have
for the last few days, been frequent and, 1t is SAID
quite excited-occasioned by the disclosure, thai
one Of the state directors had OuerdrdUn his account
about sic thousand dollars, and could not, or woult
not, make it good. 1t is now some months since
this thing was done, and known to the Board. But
as yet no satisfactor settlement can be had witt
with him. He neither will pay the money, nor vii
he give security. A committee is said to be exam
lining his account and it is supposed that the Boarc
will take such action as will prevent his taking hi
seat with them. The liabilities of this man to the
Bank are represented as very heavy; and Whit
Legislature will be invaluable if for no other pur
| pose than to show the people the inside Of thi
| Bank governed as it has been by Loco FOcos, ant
not by the rascally Wings. We--another o
these Directors is said, BY Madame Rumor, witt
always is looking into these things, to be under pro
test aud of course he ought not to be found at tn
Board but he is, nevertheless, constantly there
| acting, upon honest and punctual mems paper. Hi