Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-05-26
For the Times.
Banks and Banking.

| Much has been written, and more said than ever
written, IN regard 10 the course pursued by por-
ton of the citizens Of ST. Louis, against the coun-
fry Banks, without coming 10 head on the sub
ject.
The ultimate result is fransht with disastrous
forbodings either 10 st. Louis or the country -
Whenever men can be found simple enough 10
fight money with money, one or The other party
must succumb-both IN the end will be largely
losers by the operation. Taking calm and dis
passionate view of this subject, without entering
into the deep prejudices of either of the contend
ing Parties, / think some plan should be adopted
that would compromise the matter in dispute, and
which would result in good TO all concerned.-
That Banks Of issue require guards and restric-
lures, no one will for moment deny; two much
caution cannot be exercised. Men will run wild
periodically, in speculating-and when they have
access 10 money without stint, let or hindrance,
they will over trade, The CT edit system is good
one, when not abused-but give full and unre-
strained reins 10 wild and speculative men, (for
some such you will find almost eyerywhere) and
you Immediately run into the fatal errors Of 1887
and '57. No one can be found, who will for
moment pretend 10 say, that any Bank that is al
lowed TO issue three paper dollars for one in coin,
could possibly redeem all her notes in single
day. Ii the Bank has been well managed, there
will be no loss TO the holders, in the end; her re-
sources are IN good bills and local notes, which
must be finally paid into the Bank in gold or IFS
equivalent
No Bank is worsted, TO have call occasionally
for 10, 20, or 80 thousand dollars: it keeps it in
healthy condition, and in the end will prove of in
finite more advantage than injury.
Banks have failed, and will fail again. Men
have also failed, and banks are managed by men:
and il Banks are OF properly managed, will prove
an injury. So far, the Banks of Missouri have
been. prudently and cautiously managed, with a
good result to the stockholders, in the way of
good dividends-and they all, without single
exception, shonld keep themselves in condition
10 redeem all their paper, whenever presented
1t is hardly expected il proper care has been taken
IN giving the paper a proper circulation, that
enough could be presented at one time, to get it
put of line.
!, for one, am glad to see them kept in prudent
bounds, and hope they may always be so kept
see no good cause for any of them 10 complain
DR. grumble, when their notes are presented for re-
Iemption; yet, see no good reason why the Bro
ker of st. Louis should make them so frequent
.alIs-for learn, that in one instance, at least,
.oin could have been procured at less cost in st.
Louis, than it cost the parties, in the way Of pass
lge, insurance, freight, &C.
Under this state of things, think the Brokers
ire blsmabIe, TO some extent, for their frequent
uns, and will, IL continued, result in no good 10
my one. However, hope to hear Of no more
hreats Of mob law-it would be discredtabie to
my community, and place the Banks in IN unenvi- |
!bls position. r.