Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-02-10

]; was death struggle, but they fought III
vain. These Savings Institutions w"uld
mol bssu'tainedin delug,ng the State with
foreign currency. This outside influence
gave him headache, for lie had 10 drink
their liquor, but he did no. believe any Sem
a'or would be improperly influenced. he
hoped The bill would De reconsidered.
! Mr.. Johnson argued in favor Of Mr..
ChurchilI's amendments Especially was
he opposed to The clause which armed the
Commissioner, as in9uisitor general, 10 en-
quire, by writ of QUO warran,o, into the le-
i gali'y at the charters Of the Savings lns,i-
i'!tios. So i.-rtnnical en- enactment could
a"i be found inihe statute Of any State.-
! What right have we TO impinge upon char
ters granted by former Legisiaturesl II
these Savings Institutions were Banks, IN
der the Constitution, then the Bank act was
passed, there being ten Banks in existence.
the Banks OF issue could moi be chartered,
and we're unconstitutional. This bill was
therefore, two-edged sword. A worm
trampled upon would resist. The laws
would he invoked by the Savings institn-
lions 10 les, the cunstitu,ionality of, the Bank
charters. For himself he was opposed 10
all this war among the Banks, especially
this arming Commissioner with = law Of
fcer 10 keep him 10 hunt down one kind of
institutions. He would call attention 10 an
other subject. He would ask where, IN
der The amendment Of the Constitution, there
was any authority TO establish Branch Banks?
! Under the old Constitution Branches were
expressly mentioned. They were omitted
in the amendment, which was ia presump-
ton Ina, they were prohibited. The Con-
/ stitution says there shall be only fen Banks.
The Branches are as much Banks as any
other. THIS is their weak point, and he
! was sslouished 10 see the Banks raising
these questions. He was cpposed 10 any
thing OF the kind. Ii looked malicious on
the part OF the Legislature 10 be acting thus
in this matter. Credi, was tender thing.
and already the Savings Institutions were
compelled 10 curtail their discounts. L
Senators are sincere, why not require the
Commissioner 10 inquire into the constitu-
,ionaliiy of the Banks. He was friend
Of The Banks. hui he would no. empower
them 10 ira:npie upon the weak. Il was as
strong, the Savings Institutions as the
Banks, and his proceeding was 10 DO com
lnenced without oath. Why you could not
c"mneufe proceedings in cnurt Of JUS
lice nn the smallest note without OATH
He had every confidence in the present
| Bank Commits iuner. He was L. an OF in
! iegrily and nerve. b., lie Lad 10 certain
I lease OF lille, and soon we might have an
incumbent Of different sort. We ought 10
! iegsiate for The office and require proceed
/ lngs 10 be commenced under oath, when The
. penalties OF perjury might be CT avail.
/ In SECTION fourth, lie wished 10 know why
Banks OF issue were not included. The
constitution required tho B,nks 10 redeem
their issue in gold and silver. Could the
/ Legislature exempt the banks from the re-
! quireinents OF the constitution. Ii was said
the Legislature lad released the forfeiture;
bu; was the Legislature paramount 10 the
Constitution, and IFS release was OF no effect
The Banks had forfeited their legal exis-
/ tence; but he was opposed 10 stirring up
these questions. Let by cones be by cones
In The quarrel, both parties had been wrong.
The difficulty grew out Of the effort CT the
Savings Institutions and the new Banks 10
sustain the specie standard. What an ed.
vantage il would have been 10 the entire
State, if the specie standard had prevailed
over the whole State. Now We see nothing
m 81. Louis but branch paper, which is Of
discount. Al the branches you never see
any but the paper Of the mother Banks
All over the State we have a circulation
which is no, equal 10 gold and silver. This
wss never contemplated by the Constitution
or the Bank Act. When Bank, are so cu-
Pa5lr, why should we be enacting penalties
10. institutions whose wrongs are less. He
was opposed to al! this "sI post facto" leg
isl.iion. He would call the attention OF
lawyers 10 another point. The bill CAV. the
Supreme Court original jurisdiction in tn.
This was unconstitutional
The Circuit Court alone had original iuris-
diction. Besides The Supreme Court had
already more business than it could attend
10. Last term il had more Than three hun
drsd and twenty eight cases, and only one
hundred and twenty-five were heard. and 4
portion OF them not decided, leaving two
hundred and thirteen not heard, and the
Judges worked up until the very last day
Of the term, when they had 10 come up 10
Jefferson City. The Supreme C"ur,, loo.
could nc, examine witnesses. Why then
throw the burisn upon them? The Savings
Institutions would fgh, hard. They would
.mploy lawyers. Each Bank would fight
iari tn tie death. Fer two years the
Court would be engaged in these trirls.-
Then the Banks OF issue would he tried
The Supreme Court would DO OF 10 use 10 ,
he people Of the Slate. Every body would /:
rpeaI merely 10 gain, time, and no one could
&c the end OF the trouble. So we are called
lpon TO violate tie principle OF the common ,
aw in these proceedings. The 9th section
avs Tie Commissioner shall not be required
0 describe the instrument, it shall be suffic.
eni 10 give the tenor. Is it OF so much i'm I
ortancs 10 pu, down these Savings Institu- :
ions that we should lrsmple upon the be., l
slablished principles OF evidence and law. l
is beneath the dignity OF the Senate TO in