, 1859-01-13
PRESS AND TRIBUNE.
T1nRsnIY XorIma, JANUARY y, 1e6e.
----I Eanka md Illfnoff BAQkB.

The following paragraph, telegrApneo ~
n, Associated Press, from Washington wiz
commend itself not only to the attention
of the owners Of 1lli1ois Banks, one han oi
vhoee securities are Missouri State bonos,
but to the entire population With WHOM LII
mis- hank osoer is the principal currency
md The observation applies equally 70 MIS-
eonsin:
"1ntsllieeuce hss just BEEN received Hom
Jefereon Oity that the consntuuonal a"enu@ nn
ment limiting the M.ssoos; ota.e oaot ,nt ~ ,hs.;t %
IA mors than likely that the Legislature Win Gfaas
some rs 0O0. 900 to aid the railroads BY the 1nf-
ther issne Of 8tate bonds-"
We clsim to exercise no tupefv'sion oseE
the use Missouri may make Of her cIcdlt' nut
would re sav aucht to cmba1rass her in The |
completion Of her extensive Railroad SYSTEM
whether prosecuted by private or public en-
terprise. On the contrary, We hare tue nbun-
daut rcasons furn is1ed by hslding nearly
three aud half millions Of her securities, 1or
wishing her the highest prosperity and mere
by tue highest facilities for meeting her lnte-
rest promptly and keeping healthy tone IN
Wall street. Yet proposition to add s5,0oo,-
600 to IN Indebtedness Of something over
$25 ,000, 900, and refusing to limit the grano
total to 1000 ,0oo-and this With popula~
ton Of only about one million, of whom at
least one.tenth are ncgroes-does not occur
to us as adding anything to the value Of the
outstanding securities, nor as betray1ng that
modcgty which should characterize IN already
1arge borrower on the market. The bad
grace Of the whole is heightened By the fact
that the late non payment Of interest by two
Of ler Railroads necessitates the issue Of
more bonds-an addition to tie principal 10
pay tue interest.
The total amount Of bonds issued and ar~
propriated by the State Of Missouri TO her va
rious Railroads, amounted on The first Of Jan.
uRry 10 s24950,0oo 0lthis sum, s5,e94 900
have not Jet passed from the Treasurers
hands, hut are due 10 tho roads on demand,
oras soon as they have complied with certain
conditions. The amount Of Missouri bonds
3held By our State Auditor as security 1or the
circulation Of Illinois Banks, at the ZANE date,
waa s3,3G9, 900. In The event Of depreciation
Of these securities in New York, caused by .
new issue ol hoalr b aug other clrcum-
stance, The Banks must make M additiona!
deposit OF the Auditor is required to dispose
of IN H. bands at their market
value and 4bpH thd proceeds to the redemp-
ton of the notes pro ,eta. In either Cue
somebody must meet with loss outriglt. q
Missouri, "s!sa, ~ =
We do not asscs The contemplated
addition to the Indebtedness Of MisoaiI 96'
co1gpanied by rc}aA tcEAs+ dow fate
at that point, fill have tk efaet to
bring down the quotations Of her securities
but that would be the most natural nfe
qucncc. We shall be surprised n .
slight decfnc ia not perceived closely l&!dE
idg I'd 4hor Of her ,iatsrs49! Tiafeast
is ne 4 <and He remedies are hot aif
..i6eGlt .1ef16es It rcqRire%3y Urgent so]icit
alton 10 induce tk6sc interested in the pred,
iscs to yet for thcir own best advantage. If i
be asccrtaincd that the dispatch quoted abors
is an authoritative statement, our Banks cal
gradually change securities for those Of State
which are not multiplying their Obligations
or take any legitimate and respectful co1rs
to influence the Legislature Of Missouri il
their favor. Our Auditor is the guardian 0
the bi3I.ho}dcrF, and has no discretion hut t.
comply With the letter Of tie law. This b
will not full to do. We trust our Alssou1
neighbors will carefully consider this question
in the light Of thoir creditors rights as vel
m THAR a1rn nncnssidins