Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-11-12
saw, then, Mr.. Speaker, that before ihi,

| say, tnen, MT. speaker, tnat oelore ans
House undertakes to pass a bill Of this kind
1t is proper that this subject should be care
fully examined and reflected upon, and that
the ultimate effect Of the bill should be
looked to, because, unless we can pay the
debts or make substitute for the payment
of the debts that press upon the people, we
shall bring burden for the. people in the
future TO bear, it will involve us into greater
and more inextricable difficulties than now
press upon us, II will place in circulation IN
this State substitute for money that will
be worthless, money represented BY the
debts on the books Of bank, that are not
worth one-tenth part Of what they appear
This is my conviction, sir, and believing
as do, shall be constrained to vote against
this or any bill of the same kind. At the
same time believe that we can offer, and
that there will be offered amendments 10 this
bill, that will relieve the pressure Of the
times, and put in circulation nothing as
money but that which is money, which will
enable the banks to give that relief TO their
creditors that they are entitled to, and
which will rethin the value OF real money,
which to. this day we have had and which
hope never to see banished from this State
Ma. SwiTzLER being entitled TO the floor,
went into discussion Of the bank question.
He regarded the condition of things now as
essentially different from that Of 1887.
Then the country was depleted of specie.
Not so now. The specie is in the country.
Called attention to the fact that throughout
Europe there is a stringency in money mat
tiers. He favored the passage of the orig
,.,h; ah Ill a. h. a. Il
q currency. teH- e
Mr.. BRowN of St, Louis, took the floor,
corrected q statement he had made before,
relative 10 the Bank Of st. Louis borrowing
money at the time of making her reports
He doubted the accuracy Of statement made
by Mr.. Switzler of Boone, relative 10 the
excess Of gold and silver currency over that
Of paper. He believed that paper currency
predominaed in every State of this Union.
He said, that even if that statement were
true, was but greater reason for making
the banks resume specie payment. He did
not intend 10 discuss the financial condition
Of Europe. There is crisis here among us
and should be met. He claimed that no
bank had been chartered by this Legislature,
! except specie paying hanks, and consequent
y could not be reduced from currency pay
ing to specie paying institutions. He had
/ understood that the gentleman from WASH
, ington, ( Mr.. Kennett) had depressed from
the discussion of the pending bill, 10 allude
TO his party as one that raised the negro to
a level with the white man.
Mr.. KENNErT said, that unless the party
to which the gentleman (Mr. BROWN be.
longed, attempted that thing, his remark
was not applicable. 80
!, Mr.. BRowN disclaimed that he or his par.
+, ty held to any such principle. He said that
the dominant party in this House would be
= held responsible for the action taken in re.
gard to the bank measure. That Mr.. Hen.
derson of Pike had made the same remark
in caucus, while discussing the MEASURE
: lie said that any man who is governed in
: his vote by any private motive, would be
) consigned to deserved infamy. 1t was use.
less for any gentleman belonging TO the An.
+ ties, to say that he was not esponsible fol
the action of this House on this question:
The party in this House, assuming the name
OF the National Democratic party, could moi
make up its mind on any great question OIL
State; but found no difficulty in the division
t Of the loaves and fishes.
n 1t had been charged upon his substitute
that it was equally as unconstitutional as the
bill offered by Mr. Henderson of Pike; bu
when asked to specify any unconstitutional
Y provision contained therein, they shirkcd
upon the plea that they had not examined it
He but little doubted that the charter of ev.
t cry suspended bank in the State was but
D, mere nulity. 1t is the opinion of men learn
/ 81 in ha hot fbar 4
that the banks shall redeem their is
S sues in gold and silver on demand, and no
in the future, as had been claimed by gen.
' tlemen on this floor. He then diseusse The
= comparative merits Of the bill offered by Mr.
Y Henderson and the substitute offered by
E himself. .... .-a
3 He claimed that the bill provided that The
Y banks while in suspended condition, nigh
: exercise all the privileges of banking insti
e buttons. His substitute provided, that tht
e suspended banks should wind up their bu.
Y siness as corporations and go into liquida.
g ton; did not believe that the bill would af.
S ford any relief to the people at large. ThC
Y President of the State Bank was opposed t.
| issuing another dollar Of paper, which fac
? precludes the possibility of relief. H,
u SiaihOu liot tho susptHueu DankS Hau M
Y right to act as banks in any respect, much
1 less (as the bill provides to extend and ex.
e pand their issues and lend out every dollar
$ in their vaults, to issue seven to one ant
o then loan the one. He did not believe thai
: a single bank in this State, would ever re.
Q sumo specie payment under the provisions o
b such bill as is offered by the gentleman
r from Pike, (Mr. Henderson;) did not be.
o lieve that it would benefit the State at all t
e enlarge her obligations, though rather tina
S It was the part of prudence 10 control them
t Wished gentlemen 10 bear in mind that the,
Y were now called upon to decide between
e two policies, enlargement and extension oil
|. the one hand, and retrenchment and reform
$ on the other. Mr.. Brown then read from
5 speech delivered by Mr.. Seward, in 1855
e to show that the relief offered by the bill
S (of Mr.. Henderson, would be but tempo
rary. He said that the laboring classe