Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1854-11-02

| MR. HREEN'--At lllS time lNere ls u
considerable panic in the money market,
and many persons are afraid TO keep paper
money on hand for fear it will prove worth
less.
This is a realization Of what the Brokers
in the cities have been working at. for
months, in order TO shave Innocent men ont
of their hard earned and honestly made
money.
This great panic has been gotten up by
soulless brokers against The free banks that
are organised on the only safe plan, to pro-
feet their bill holders from loss.
These brokers know that the free banks
are not now put down, and public confidence
destroyed in regard 70 their circulation, the
jig is up with them, and they can NO longer
amass fortunes by indirectly stealing their
Iill-go'tcn gains from unfortunate bill hold.
ers, as they are now doing.
These free banks have stock pledged to
redeem every dollar Of their outstanding
circulation, which will secure all their bill
holders from loss. 1t Is hoped our citizens
will not be duped out of their money by the
tricks planned by few unprincipled men,
who have been ofiicious in circulating many
false reports in regard 10 broken banks.
The public will see a; glance why this
excitement is kept up against free banks
AT this time, printed circulars, with list
of some fifty or sixty reported broken banks,
are being circulated, TO brighten the unsus-
pecting bill holders, with view Of swind-
ling them out Of their money.
The fact is, these brokers are striving to
tear down the free banks, by using all the
foul means at their disposal, in order that
banks chartered without securing bill hold
ers from loss, may take their place. Then
we will always have broken banks, and bro
kers will grow rich on all such false re-
ports as are now being circulated.
These brokers are getting too much pow
er into their clutches. Our next Legisla-
ture ought to enact laws, either to prohibit
their business entirely in this State, or de-
stroy their power over banks. The people
demand remedy for this evil.
The bank Of the State of Miss ouri has
the entire confidence of our citizens. WHY
is this so? For the simple reason that we
have but one bank in this State, and the bro
kers know it will be bad policy to destroy
the confidence Of the public as to the sound
ness Of the institution. Brokers know we
must have banks, TO facilitate the business
transacted in our several States, and they
also know that were it not for the exist
ence Of banks, their money would have to
be invested in some other kind of business
which would not be so profitable as shaving
bank notes, and purchasing and selling ex-
change.
/ They want banks kept in existence; still
they have sworn humiliation to all free
banks, from the fact that they are too safe 10
be as profitable TO themselves as they wish
They have seen the confidence these banks
have gained from the public, and to fill their
pockets with money they have declared war
upon these banks, and are now making
good use Of their means, by purchasing bills
on these reported broken banks, at large
discount.
Suppose, for instance, the brokers' of St.
Louis were disposed to destroy tho credit of
the Bank of the State of Missouri. How
would they commence their operations p
By refusing to take bills on the bank, eXcept
at large discount, as they are now doing
by the bills on the free banks Of Illinois. H.
diana and Ohio. They wcu|d also start re.
ports, at the same time, that the bank i I'M
able TO redeem lis circulation. These false
reports would spread Ike viii fire. and in
less than week not dollar "a Missouri
money could be circulated through the coun.
try.
. A tight money market j. just what I'M
scrnpulous moncych mcn delight in witness.
ing, FOR at such times they can use their
money TO loan TO those who must borrow.
and charge them exorhiunt rates for the
use of it. These panic> in the money mar
ket are certain to make the article scarce.
and hence another reason the brokers have
for making a run on the banks.
Give us free banks, with stock pledged
TO redeem their circulation, and destroy the
power of unprincipled brokers over the
banks; then, and then only, will we have
sound and healthy circulation of money in
our midst.
FAIR PLAY.