Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-08-06

and more adaptation Of means to ends, in
accomplishing labor and transacting trade,
than the world has before known. What is
to cause revulsion and crash; and what
is to crash, when the crisis comesp II will
take wiser man than the "fossil" TO tell.
We pass to the second ground Of attack
by the writer on the credit Of the new
Banks, to wit, their "smal capital" The
fossil thinks it strange that the new
Banks, with their stock books open not over
three months, have not several millions Of
capital paid up, like the old Bank Of the
State Of Missouri! No doubt the "fos 81"
wonders that an infant does not walk be-
fore it is week old; or that the "reckless"
business men of ST. Louis do not possess,
at this early day, the vast financial wisdom
that renders his dull brain luminous. But
let the writer be charitable. The "busi-
ness men" of st. Louis: that he thinks SO
incapable of managing Banks, may yet i'm
prove. In the mean time, we will let the
public understand why the stock of the new
Banks has not been subscribed, in the opln-
ion Of this wise "fossil'' Of the Republican,
He says:
"From beinning to end, it 1.-THE Bank law1 gives
preference and power TO small stockholders, and
absolutely forbids any one, until after sir months,
from subscribing oUer FIFTY THOUSAND
DOLTARS-the final limit being one hundred
thousand. If lam not mistaken, THAT is A
PROMINENT REASON why so small an a.
mount of stock has been taken.o
All, dear old fossil, how can you be "mis-
taken?" you, who know so much? That
was a hardship truly, that you, and many
more stiff-backed old fogies, were "ABSO-
LUTELY" forbidden from subscribing
over fifty thousand dollarS" No wonder
the stock list remained meogre, with such
a prohibition resting on it. We trust III,
new Banks will make haste to get M a.
mendment from the next Legislature
whereby this RothSchitd OF the Republican
may oversize the small piles OF ordinary
men, and subscribe and pay up smarty over
fifty thousand dollars"
But we are likely TO make TO much of
Of this article which appeared in Saturdays
Republican. 1t is inconceivabiy absurd,
and inconsistent. 1t is absolutely ridicu-
lous in some Of its phrases, 1t is shame
to the intelligence Of the times, and an in
suit TO the business community Of st. Louis,
that it appeared where it did.
The following is the language used by
the writer of the Republican in regard to
the business men of St. Louis, who are Di-
rectors Of the new Banks:
The question recurs, what description of direc-
tors will heed it? As a general remark, junior
partners, successors, "onward progress" and
"Young America are inclined to disregard the
past. History is not always learned by reading.
Experience Is the only safe teacher. Business men,
tinged with speculative views, and tckled by spec
uative profits, are unsafe depositOres capital
credit. They Invariably SNAKE haste to be rich,''
and by their reCkleSsness and inlproudence, drive
many from affiuence 10 sadness and sorrow.
The new Banks of Missouri, as we have
said, are in the hands of the BUSINESS MEN
Of the present day, in St. Louis and Mis-
souri,, who have Weakened the State 10 new
life, who have infused its commerce and
manufactures with new vigor; who have
already made themselves names and repu.
tations that the proudest business men Of
the country may never excel. They are
the men-these same business men of St.
Louis, who, the writer of the Republican
says, are "unsale repositories of capital on
credit"-who will be the future n,aiionaireS
of this city and of the Mississippi valley. -
They will be men Of wealth, Of Intelligence
of usefulness and power, long after the hoar.
ded wealth which fortune, not talent or in.
dustry, brought to the venerable fossils
who now sheer at them.
This writer in the Republican goes 50 far
as to declare that there are parties in Mis-.
souri,, who will take no Bank paper, no
even the notes Of the Bank of the State o
Missouri! We think no other man in tn,
State knows such beings. 1t would be
curiosity, worthy of Barnum's Museum
the man in Missouri, who refuses Missouri
Bank paper.