Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1853-02-24


reading the following articles:
From the Keokuk Wing.
BROKERS' WAR IN ST. fouls.
There are some features in the recent
hubbub amongst the Brokers Of ST. Louis
and the course of the Press, calculated TO
excite our special wonder. And that our
readers may have an idea of the leading cir
cumstances connected with the matter, we
will state them briefly, as we remember, in
the order OF their occurrence.
During the summer, the board Of brokers
in ST. Louis, Of which Page & Bacon were
members, had fixed rates OF discount on cur
rency, and premiums on exchange. Early
in the fall, by q resolution fthe Board, these
rates were changed; and Page & Bacon not
being present al the time, and being dissais-
fled with the action, withdrew from the as
sociation and operated on their own hook
This winter they reduced the rates o! dis
count on currency, and made also more IA
vorable terms for exchange, and thereby
| increased their own business and interlered
with the profits as well as the ''rates" Of the
members of the Brokers' Association. In
stead of bringing their rates down, the bro
kers set in to bring Page & Bacon do,rn.-
But to attempt that simply upon the charge
that Page & Bacon received currency and
sold exchange on more favorable terms than
they, would have been utterly unavailing
and ridiculous. They therefore went 10
work Systematically to create panic in ref
erence TO the Page s. Bacon certificates
Telegraphic dispatches were procured TO be
issued from New York, Chicago and other
points, and runners were sent through the
country to sound one loud and long alarm
against Page s Bacon's paper. One false
report followed another in quick succession,
and newspaper paragraphs and leading edi-
torials were devoted TO the same end. But
notwithstanding all this, Page s. Bacon have
fully met their antagonists, legion though
they were, and foiled every attempt.
Newspapers that never whispered word
of censure or Of caution when the Clarks
were issuing their shin plasters and filling
the valley with their paper, and passed by
the Smith money, and the Lucas & Simonds
checks, in approving silence, have recently
been furious against the Page s Bacon pa
per. Instead Of joining with us in the et-
fort to prevent the first introduction of this
kind of currency, they kept silence or rid
iculed such efforts; but now, when all the
channels of business are filled with similar
paper, they make special onslaught against
Page s. Bacon. And they alege as one ol
the grounds of fear in regard to their sol.
vency, the fact that they have taken raj
road contract, and propose TO take river
Improvement contract.
But they have already cleared an immense
sum OF money on the railroad contract, ant
: we venture they will not lose anything OF
the river contract should they enter into il
The motives which have instgated tn,
war against Page and Bacon are perfect,
apparent, and clearly traced to the fell spir
! it of disappointed avarice, and not to an.
] record for the public welfare. For if tl'
public welfare had been the object of thei
thoughts, the brokers and lewspapers o
y St. Louis and elsewhere should have spokel
out long ago. They shulod have denounced
the Erie, Marine g. Insurance and Clarl
paper, and checked the issue in the bud.-
i But no, they fostered them and gave thon
: credit and circulation throughout the coun
TRY; and yet now forsoOth they tel Us Pag