Hannibal journal. (Hannibal, Mo.) 1852-1853, 1852-03-25
THREE.

In tho absence of sufficient banking capital in
this State, we hope this substantial house will
issue a hundred or two thousands OF these GER
tliicates OF deposit. ard thus root out of circua
tion--in measure at least.--thc flood of trash
that is now called ''currency."
With the responsible names attached 10 these
certificates, the public have guarantee that
they will be redeemed at the place called for on
their face.
We learn they are redeemed IN gold at Quin-
cy- and that here they are taken on deposit by
Messrs. Page & Bacon at IL per cent. Off or
cashed at same raie. .f
This Bill or certificate, has produced in my
mind some reflections which will submit
LIST. 1t is currency intended for the State,
issued and put in circulation in evasion of our
laws.
2nd, 1t is shinphsier, intended to be shaw ed
upon its face. The price of that shave at the
Office Of the respectable and responsible hous c
of Messrs. Page & Bacon in St. Louis, is only
ono half Of one per cent; but when "a hundred or
two thousand of such shall get into circulation,
other brokers and elsewhere may demand deep
er shave.
81. The excellent house Of Messrs. Page s.
Bacon is of known solv cncy and high standing,
and will undoubtedly redeem every dollar de-
posted with them. But when their currency
has gained credit and such shinsplaters have
become familiar TO the country may not other
brokers likewise avail themselves of one half
of one per cent, on ready money deposited in
II nd tha q.
many hundred thousand dollars may be found
in circulation and no body to redeem them. Our
State would soonbe as bad fix as Ohio, where
nothing but shinplasters can be had in exchange
for So dollar gold piece.
4th. 1t reminds us of the guardianship of the
Bank of Missouri. That by the dogmatical
holdings of the so-called Democratic Party, that
Bunk has been constrained, against the better
judgment of the immediate Directors, to withhold
its aid, in the election from the State, of the dir
ty, dingy and counterfeit shinplasers of 9th
er Statcs-nay, TO encourage and sustain such
currency" by refusing 10 furnish substitute,
and to aid in sending it home in limbo, when
found within her borders. The Bank of Mis-
souri, in this matter the best ally ana friend of
brokers and shavers.
9th. The absence of sufficient banking CAPT.
tal'' reminds us, that under the provisions of our
| Constitution we can have but one Bank, and
that the capital is limited to five millions of dol
lars; but the actual capital in the Bank of Mis-
souri, is only about two millions, upon which
she has done business TO the amount OF S tx
millions; when, if any efforts had been used, the
capital stock could have been increased TO five
millions, and she could have done equally as
SAFES business to the amount of fifteen millions.
Ii is now universally admit ed that This would
not be sufficient for her commerce, while no
one doubts, or can doubt that this amount of
banking capital in the State would have expel-
led more of the shinplasters from Ohio, Indiana
and Ksntu2ky.
9th. BY this device, we are reminded that the
Bank OF Missouriis the close of its political
existence; and that provision must soon be made
Tor its final dissolution, or its re-charer. Ev-
en- now it is said that the Mother Bank is reti-
ring 10 per cent. each six months of the Branch
Paper, but by what authority, and for what
purpose, we know not. The effect will Ger.
tanly not be TO Danish shinplssters, nor to cir
cHmscribe the business Of brokers.
7th. II Messrs. Page s Bacon should, as adj
yised, issue "a hundred or two thousand Of
these certificates" and other private bankers,
as good, or not SO good, should avail themselves
oil the same privilege, the circulation would soon
exemplify the system Of Independent banking.
as well as produce price current for currency
by which the people could take care, and gov
ern themselves accordingly.
9Th. How the ST. Louis Inteligenoer, lead:
ing and influential Wing paper, opublished in
our commercial emporium, can recommend the
establishment Of deprecated currency, is .
problem NE cannot solve The Wig party in
Missouri, and elsewhere, is in favor of Bank.
but never countenanced recommended, or es-
tabiished, knowingly, any but sound, convert
ible, responsible and specie paying bank. Such
banks Of competent capital, paying a duty in !
bonns to tho State for its responsibility, and
serving the State as a financial agent, is tbe
kind Of banks Missouri Wings prefer, and will
generally support. d.
,. LEE Sow, ii will be seen, have changed