Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-11-19


follow in the train Of stay-laws and acts le-
galizing bank suspensions, (such as are
now under discussion at Jefferson City, the
masses will vindicate their cheated rights
against such unconstitutional legerdcmain.
Even here in St. Louis, falsely supposed to
be most in favor of such unconstitutional
action, there are not five hundred voters
who have the slightest sympathy with such
demoraizing legislation. The doom Of ey-
cry shinplaster and stay.law advocate is as
certainly written, as il the honest express
sion of the masses had been already record
ed. At the first intimation in favor Of le-
galizing suspension, the Democracy Of Phil
odelphia held meeting, denouncing with
entire unanilnity all such swindles upon the
people. In New York and Massachusetts
crowded Democratic gathering, have also
been had, at which, without dissentient
voice, resolutions of the O'd Hickory stamp
were passed with enthusiasm. No Demo
cratic journal or statesman has yet spoken
except in unmitigated condemnation Of such
corrupting legislation. Here in Missouri,
which is the soundest Of all States on cur.
rency questions, there can be no doubt Of
the sentiments OF the masses. There is
not one county which will sustain shinplas
ter action. Let the question be submitted
to the people, and every shinplaster adyo-
cate will be as certainly defeated as the day
of retribution comes. The question 1rU be
before the people next year. Politicians
cannot keep it out of the canvass. 1t will
also be before the courts, involving all who
act on the faith OF such unconstitutional stat
utes in inextricable embarrassment and ru-
in. No bank can constitutionally exist in
Missouri, except as a spccie-paying Bank;
/ it "shall be made liable TO redeem its issues
in gold and silver" The General Assem-
bly, cannot lcgali1e any act to the contrary.
No matter what humbug bill ii may pass
for the purpose, it will be brutum tulmen,
"A nullty. Non.specie paying notes can
not be issued; all notes of our banks must
be redeemable, on demand, in gold and sill
yer. 1t is fortunate for the people, that
they have such safeguard in the COnstitu-
ton. The bank notes already aAoat bear
twenty per cent. interest, from the date OF
demand and refusal 10 pay. That rate Of
interest is part Of the contract between
the bank and note holder, and the Legisla
ture cannot change it. Nor can there be
any honest Legislation, which strips the note
holder or depositor Of his right to 0 SPEEDY
collection Of his demands. Why should the
people be prostraed under bank Legislation?
Why should tie thousands of honest and in
dustrious and prudent men b. driven to The
wall, deprived of their just dues, turned of
with broken bank notes and hin-plasters
lett to the rigors Of q coming winter without
pay in the only constitutional tender-gold
and slyer-in order that some few mer
who have oyertraded or over speculated
may be permitted TO pursue their wild and
hazardous adverturers unchecked, or shift
upon others the consequences Of their OWE
reckless folly? Are the few to be permit.
ted TO grind the many hopelessly into The
dust? live are TO he cursed with such ar
aristocracy, then farewell to all Of our hope,
as American freemen The State must be
saved from such ruinous legislation. Eve.
: ry politician, and every man who now urge:
disregard of the Constitution, through {
shinplaster or stay-law, must be market
: for all time to come. Temporary expedi
ents, political quackery, Abandonment o
principle-in or out of tho Legislature-d de
serve no apology, and none will be received
by the masses. The Constitution and law.
were made for public protection. tn,
masses demand tina: they be enforced
They vii! not tolerate any violation OF then
by banks or Legislatures. Not two thou
sand voters in the whole State ask for all,
such quackery or injustice. The existin!
clumor comes from a few persons who asl
that the whole State shall be ruined in or
der that they may have time TO shift the.
individual responsibilities 10 the shoulder
Of the innocent.
Why did the Bank suspend? Becaus,
| the notes discounted aud bills of exchnng
on hand were not met at maturity. Thi
e must have been so, or the Bank has done al
: ilegitimate business s-overtraGed. What
e then, is TO be the basis Of the new issues?-
, Protested paper, and notes and bills not ma
c tured. The Illinois bank system is base
e on State stocks-a bad enough system--ru
= inous, ultimately, 10 any community. Tn
}. old New York system, based OH mortgage
of real estate, exploded, and passed into in
e fanny long ago. And now Missouri is ask
S ed 10 base her bank circulation on promis
l. sorry notes and bills of exchange, whic
L.,.o oopa to OrnteSt Op which the mol, a,