Western union. (City of Hannibal, Mo.) 1850-1851, 1850-12-19
For the Western Union
Banking and Banking Facilities.

Without adverting to the past manage.
ment Of the Bank Of Missouri, it is a sufli.
cient consideration TO engage the attention
Of our Lcgislators--that the facilities af.
forded by the Bank are wholly insufficient
for the demands Of the people of the State,
necessarily dependent upon it. This fact is
attested by every business man---no, Linn.
self millionaire or broker.
At the date of its charter, the condition
and business Of the country did not require
one-fourth the amount of such capital, as it
now does. A, that time, also, it was SUI
rounded by circumstances OF distru>t and
political objections, which it has not yet
wholly outlivcd and in consequence Of
which, IA very small portion o the capita,
stock was taken. The same reasons have,
perhaps, since prevailed, and have prevent.
cd the necessary increase of the capital.
But time and circumstances have shown.
both the necessity Of such an institution,
and that, based upon proper principles, it
may be made Of great advantage to the
people, and profitable to the State.
To a great extent, the trade and business
OF the four great States of Illinois, Iowa,
Wisconsin and Arkansas, as well US other
territories, are chiefly dependent upon the
paper ejaculation OF this bank. The lead,
wheat, flour, and other commodities, Of the
three first named States, have been, and if
properly managed, will continue to be ex-
ported, rio st. Louis, and chiefly upon facil-
tiles furnished by the State of Missouri
In all these States, their chief circulation is
that Of foreign, Independent, and other bank
paper-the true value, or convertibiity of
which, is always uncertain and precarious
while the small amount of Missouri pa
per is sought, and laid by as "specie funds"
With these advantages for the profits of
trade, and the States aggrandizement, what
is the condition Of Missouri! Dependent
on brokers for the means to export their
own lead, wheat, flour, corn, pork, stock,
hemp, and tobacco! Dependent on posi-
tive favor, for small admixtnre of Mis-
souri, paper, or the "cumberous SPECIE" to
infuse into, and give currency to the worn
out bills of Ohio, Indiana, and Kentucky
ornamental, perhaps, with new issue, by
the Banks of these States, the more decent
ly to appear in the company OF our own
State paper. In this, we would not be un.
derstood to doubt the solvency Of those In
diana, Ohio, or Kentucky Banks,--but we
do say, that those States have not the ele-
ments Of trade, for the constant returning
stream of specie, and specie funds, that
Missouri has.
The central position, in direct, natural
line Of exchange, which Missouri occupies,
will ever guarantee constant supply OF
metallic funds, with which, in any emcr-
gency, to redeem the paper of her Banks.
Will these facilities have influence on heavy
investments from abroad, or the stock OF
our well organized and properly governed
banks? If the facts stated, are reliablc--and
we cannot doubt them-the answer must
be in the affirmative.
The present condition Of the paper cir
cuation in Missouri, is that OF an INSULT
cient amount OF our own, with the contra
band and unknown paper of other States
one currency for the banks and bankers,
and another for the people. The people
want mills, roads, bridges. and manuiactu-
ring establishments, ofiron and wood Why
can they not command theml The wan,
Of sufficient capital, IS the true answer
Does any member Of the Legislature remem'
Der to have heard Of the Bank of Missouri
loaning to a miller, one, two, or three thou
sand dollars, to be added to his own two
three, or four thousand dollars. TO build q
mill! 10 erect Il mandatory Of wood Of
front or, in fact. to build any thing, excep,
the State Housed
As to roads and bridges, they are Of coun
~ concern, but many Of them have no, The
money; and though their credit is undoubt
ed, the Bank has neither the authority moi
the funds to spare, even at high interest, fo
such objects.
Upon their arrival at Jefferson City, lie
Senators and Representatives ask each 9th
er Of the number Of mills, ordinary, grisl
saw, or manufacturing, they have in thei
counties, or in their immediate neighbor
hoods. The answer will afford some insgh,