Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-02-10
Debate in the Senate on Richardson Bill.


Banking bill, being 10 order, lie said that,
although he ieIl reisciar, tosp.ak further
ol this su!;i-c'. ks d;ry to lis constituents
called npon him 10 remnns,ra,e against the
rnormi,ies Of thi. bill. Every class in S..
Louis were opposed To TN, blll-'he work
ing men 10 less tEan Tie merchant. 81.
Louis had asked ter TO such legislation.
bal are Willing 10 lhroS The same resiriet-
ions around tie Savings Institutions as are
thrown srouia the Bauks. We had been
mi-reprsseuted, as il we were opposed 10
the weekly statement. and ether provisions
Of The bill. Here the Senator read ihs first
clause Of the bill, AID called attention 10
The isc! IiIa, only 81. Loais was Included
This MAS All onirase- upon ST. Lluis.
Mr.. RICHARDSON explained that after
nine days tie whole State would he sub.
jec,ed 10 The operation cf the bill.
MT. GaUacHiLL Was not satisfied with
the explanation. Why thi, obnoxious dis
'inciiun! 81. Louis ia 10. The nearest coun-
~ In the Stale, and he hoped Ike Senate
would moi cast this slur upon ST. Louis
The Senator called attention Ia the 18th sect.
.on. empowering The Bank Commissioner
10 apply for immediate injunction without
oath, and argued again,, the unjust discrim.
instion against the Savings Institutions, and
contsnded that if such objections 10 the bill
were removed, he could vote iur il. So, al
%, in The 22I section, which empowered
the Commissioner TO employ Clerks at the
expense Of the Savings Institutions. TEis
was an infringement, OF The charters; some
Of them granted twenty years ago The
Senator then went INFO u history OF the run
5up"n the Cape Girardeau Branch. For
iaerly, said he the old State Bank redeem.
ed The brunch paper, We had specie cur
rcncy, TO the satisfaction OF the entire COM
mani'y; suddenly the Slate Bank came Ia
the determination not 10 redeem The Branch
paper. The entire community, and all 9TH
er Banks were opposed to ihi. movement.
A policy which had given satisfaction Tor
twenty years was in day set aside. Ev-
cry Bank in 81. Loui, protested against it.
They did no, want two kinds OF currency
The Savings Institutions were not the only
ones which went Down 10 Cape Girardeau
10 draw out the cuin OF the Branch there
The Banks OF issue, and especially the Mer-
chants Bank " ere hostile 10 the policy o!
the Stale Bank. The Merchants Bank
being hat pressed, paid out Branch
paper, and then the o'her Banks said she
was false, aud they tno fell of. The Boat
mans Savings In tiiuliYr, which MAS strong
went 10 the Sin,c Bank and said, we will
lend you $500 ,OGo if you will keep up The
specie standard. Now, these gentlemen,
who claim to be the especial advocates Of L
specie currency would break down the in
stitution. which were laboring 10 keep up
q spscie standard There was q general
impression that the Savings Institutions
were constantly running upon the Branch.
es 10 break them. New, when the State
Bank had repud,nted the Branch paper. the
Baatmans Savings Institution received i;
a. cold ard silver, and fer such depo.i:es
paid tut gold and silver. So did every OH
.er Bank in ST. Louis. Therefore, they
were compelled TO send it home immediate
ly for redemption. Even this had hap
pened: Merchants had come 10 ST. Louis
with Branch paper. The State Bank would
not receive il but ss "baukcb.e funds" Il
was then deposited in the Savings Instilu-
lions and check given 10 ths State Bank
for gold and silver, which drew i, cut Of
The Savings Institutions. The other Banks
went to the Boa,nan's and SAID: stand by
us, and we will sill keep up the specie cur
rercy. The Savings Institutions dried TO
sustain the specie standard. This is their
whole fault, the head and front of their of- !
Tending. Crush them cut, and you benefit
q LII 40 fie IF IL. LII
andthe entire community. Their deposits
show wta: confidence they enjoy. The Sa-
wigs Institutions merely tried 10 sus.Pin /
policy which tor twenty years had received
The favor Of merchants and the entire bus )
mess community. The Senator then re-
capitulated The objections he had stated
against The bill. and expressed the hope
,ha.. sincs the S nate would moi accept lis
they would at least strike out
the obnoxious clauses which made /. incum-
bent upon the Bank Commissioner TO ins,i
rn,e inquisitOrisi proceedings against the
Savings Institutions. |,
The Senator urged various other object
,onable features, and hoped ye; such bill :
would be framed as he could vote for.
Z EsIsC SESSION.
Mr.. CHURCHILL carrecied statement he
had made Ills morning. He had stated
hat the Boalman's Savings Institution had ,
offered the State Bank 100000. This |
lad been done informally, and by one OF {
he Directors 10 ume of Tie Bank Directors. 7
4 gain, he would state that he was as much
n favor of the main features Of the bill rs Z,
ny other Senator on the floor. He spoke =
n good faith. 1.-THE bill was re-committed =.
D a COMMITTEES, and bill brought in put +,
ing the Banks and the Savings institutions |,
nder The same regulations, he himself, and $
Q believed the entire ST. Louis delegation, :,
,ould vote Tor it. One nights calm reflect i,
~ could do no harm. No one, he believed, n
ought 10 war upon the interests of ST. Lon i
!. Justice and courtesy alike required that e
,e matter should be passed over until TO- Il
GROW. With regard TO outside influence $,
3 had only 10 say That he was always glad b
see his fellow citizens from ST. Louis, a
consul. with them on matters that con- c,
.rned their interest Senators seemed 10 81