Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-08-25
The Chillicoths Bank Affair.

part silver, and part gold. While he was at work
mob was organized, which appointed commit.
tee 10 wait on the note holder, and inform hin
hat ne must take his bills, and be off. giving him
five minutes 10 leave. 4 number Of persons were
about the Bapk, considerably excited, and The
agent of Mr.. S. Thought it prudent to leave, and
did so. He went home, and returned again. in q
few days. He gives the following account Of MS
reception, and the result CT his second trips
On The evening of the 18TH inst, /, in company
with Z. Mex. Bounds proceeded 10 Chiiiicotbe
On the morning of the 18th, before bank hours.
was waited on by Or. Mcdowell, who informed
me that he, IN behalf of committee appanted bv
the citizens Of Chillicothe, was authorized 10 IN
form me, if came there on business with the
bank, that had better leave, as they were deter
mined that neither nor any one else should draw
money from The bank.
then visited the President OF the Rank at he
residence, told him had about ten thousand dol
| lars Of their money. / related to him the pro-
ceedlngs on Saturday Che having been absent from
The town.. he remarked, us | had bad FOOD
deal Of trouble he would redeem in gold. He was
going 10 De very busy on that day, but that should
have the money if he had TO count it after busl-
ness hours, which lie expected he would do az
| then all would be quiet After some time had
elapsed and Banking hour had arrived the Presi-
dent came 10 the Hotel, and informed me that they
had $4,000 counted out, and If would come to
the Bank and bring the issues they would redeem
did so. Went into the private room of the Bank
to count the issues, in company with the Prcsi-
dent He counted fiowly. asked him to call
the Cashier TO expedite matters. He stepped to
see him; returned, and said there was discrepan-
cy in box Of gold, and he could not come.
Weproceeded with the counting. In e very
few minutes the citizens commenced pouring INTO
the Bank, which they filled, and crowed around
the windows of The private room, knocked at the
door OF the room we were in, and the President
opened il. l suggested Tat there was enough in
and he stopped and closed the door. They talked
with the President and expostulated with him not
10 let the money GO, and said 10 me, Mr. Bounds,
the money shall moi go-you can't lake it away.
We will not permit YOU"
| conferred with my brother, F. Nick. Bounds.
and Mr.. James Mills. Of this city, who were ad-
mitied 10 the private reom by my orders. They
having mingled with the crowd and citizens, fully
CHAs. L. BOUNDS.
Tbs citizens Of ChiIlicohc held public meet
ins. which adopted the following resolutions, in
defence Of their course:--
WHEREAS, Tac people OF Livingston and the
adjoining counties, have, by q subscription OF
stock, established abank at the city Of Chlicohe
for the purpose Of aiding thc people in the trans
action Of their financial affairs; and that St. Louis
brokers. and other rnoneyed institutions. for the
purpose Of restricting the business Of said bark
and thereby depriTinr those by whom and for
whose benefit i was established, Of the benefits
which siosid accrue 10 them from the bank, are
in the habit Of presenting It's bills for payment,
only 10 inure its usefulness, which being impaired,
must result in serious .detrimeiit 10 the public
good; therefore, be it
a Ilesolped, That we, citizens OF Livingston coun-
ty, believe it TO be public duty TO protect our
selves against all brokers, moley-shavers, usuries
and rnoneyed harpies Of every character.
RssoIrcd, That a committee to consist OF DR.. S.
j.. Marshall, David Carter, DR.. I. Mcdowell,
Geo. Pace, lr, Benson, Dr.. John 6. Williams,
ing, whose duty il shall De 10 wait upon ali sach
persons as may VISIT this place, with the purpose
OF drawing specie from the Branch Bank, and to
advise them that further runs uron the Bank Will
not be tolerated; assuring That this community has
entire confidence in the Bank as a sound and well
regulated institution, where gold and silver can
always be obtained in exchange for its bills, for
all proper purposes.
Resoired, That the people OF Chillicothe pledge
their honor men 10 sustain the committee in all
the proceedings deemed by the committee Ieces
sary.
Rssolrcd, That we, in behalf Of the common
interest of The country, solicit an expression from
and press upon them the necessity OF maintaining
the credit Of our Banks, far il Is al all adj
missabIe without leopard!zing Their own Pecunl-
Gry interest.
The ST. Louis press, We ara glad 10 note, is
unanimous II its condemnation OF such proceed
ngs.
The entire Bank interests OF ST. Louis, also re
gret the course pursued, and we think the Chilli
cothans themselves are getting ashamed Of 1t, as
any honest community should.
Tie paper of tlIat Branch vas OF once placed
Eve per cent. below par in st. Louis, ard If tie
Eank persists in its course, it ought, md will be-
fui.her disced,sd. Banks are no better than in
dividuals. When an indiV dual Issues promises
TO pay, has tire ability 10 redeem his promises, and
refuses, he Is Justly sca!led a dishonest mana
rascal. Banks that protect themselves behind
mobs, and the nobs that protect them, mist share
tse same fate, and be regarded in the same light,
by honest men.
The Chronicle, published in Chiliicethe, gives
detailed notice OF the whole affair, which, taken
altogether, leads Us 10 the comfortable belief the
Editor is ashamed Of the transaction, but he de-
gires 20 ''stay N town." does not come down on
the moSbers as lie would Like to. the article
concludes with the following sensible paragraphs,
which should be well read and thoroughly pom
dered. as IN them is truhfdlly sci forth the cause
of our present financial troubles
The prime cause Of this state OF things is, that
the difference of trade is against tho State. The
products Of the country do not equal the cors'1'p
lion, and the excess against us must be paid in
i.0Tsg or its cqlirGIeaf. In this lies the whole
cist Of this continuous run, although II may have
been instgated through luminosity. The excess
OF trade against US has not only got TO be paid,
but the difference in that which will answer us ns
money here, and that which will answer as money
at the points o. Indebtedness, must also be PAID
amounting to quite an item. For this Exchange,
or difference in that which IS money here ana
elsewhere, the brokers are striving. In the ab-
sence Of he produce brokers being able 10 pay
this excess, payment is sought somewhere else.
Tie consuming portion OF the community has
10 nav his difference in the worth of money 10
some on so long as the difference of trade is against
u.s. The difficulty in the presentinstance is that
ST. Loeis is as much the metropolis of trade to |
illinois as Missouri, and the Illinois currency is
not SO easily converted into srecie as Missouri,
and hence the inability Of our banks TO supply
the great demand. That there is general run
upon Missouri Banks is no evidence Of a defect on
their part, bat rather an evidence Of their being
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