Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-01-20
Legislative Debates.

srsss on Q bill providing HAT the notes Of
oil specie paying Banks should be receiva-
bic Tor taxes due the State. IN other
word., 10 place The independent Banks OIL
On equal footing with HE State Bank. We
make one or two extracts from the debate;
Mr.. BvRDrs, Of Lafayette. have been
no little surprised, sir, 10 see the Difficult.
ties which have arisen in regard 10 the con.
sidera,isn Of this matter now before the
House. It's suggested that the bill under
consideration be re-commiited, SO TINT its
friends may have an opportunity of perfect
ing it. have heard gentlemen upon thi,
Goor raise the question OF unconstitutional
~ as laying OF The foundation Of the bill,
and founding their arguments on the fact
that we have q provision in our constitution
which says that nothing but gold and silver
shall be legal tender in pny ment OF debts.
Why. sir, that question is not question at
ell. II is perfectly esnpeten, for this State
70 rass a law saying just what We shall re-
ceive in payment Of revenue. She receives
portion Of her revenue in wolf scalps, and
Q wolf scalp covers that constitutional ques-
lion. The gentleman from Ray (King) ap-
pears 10 consider that this Bank OF the
State Of Missouri 10 placed upon footing
different from that Of the other banks, from
the simple reason that the State, to GER
tain extent, is stakeholder in il. II the
gentlemen will look into the provisions OF
he constitution, he will find that the State
has an equal right TO take stock in any 9th
or bank in the State. The same law gov.
erns the whole class Of banks; they are all
endorsed by the State, and sent out among
The people Tor the purpose Of affording them
agood circulating medium, and think the
State, is doing pure injustice TO them to say
that one bank shall be what they call a fisc-
sl agent 10 The State 10 the exclusion of all
others. Why, sir, We have no evidence
that this State Bank Is not going TO suspend
specie payment. She once suspended in
advance of some others, though heartily
sanctioned that suspension. Gentlemen ap.
pear 10 think there will be great imposi-
lions practiced upon the Treasurer, and the
spurious paper will be brought up by the
Collector upon the border and brought into
the Treasury. | am satisfied that this bill
can be SO constructed as to obviate this DIFF
hculty, and / intend to offer an amendment
al proper time 10 that effect.
There Will be but little difficulty expe.
rienced by collectors, where Banks exist,
as is the case in my county; they can 60
10 the Bank and get the gold in exchange
for paper; this they will not be able 10 do,
however, in counties mere remote from
such blessings. We have indorsed these
independent Banks; we have said they
should supply the people with circulating
medium, and We are bound by the laws of
Justice 10 receive their currency. / am,
therefore, SIR, in favor of recommitting the
bill, with a view TO have it perfected by its
friends, and again broug ht before The House
for its reconsideration.
Mr.. JosEs, of Marion. So far as | am
concerned, sir, 1t is a matter Of no moment,
whether the bill be recommitted or not, as
lam satisfied il cannot be put in a shape
that will meet with my appreciation. am
opposed 10 the whole thing. have listened
atlentively TO the arguments advanced in
support OF Che bill, and (whether am de-
feotive in my perceptive faculties or other.
wise, confess that have not heard what
] regard as a single sound reason for its
pssssse.
lie have Teen told that il is for the con-
venience Of the collectors in the State, and
the people a, large. New, | am at all
times disposed TO favor any proposition,
having for lis object The convenience OF my
constituents. when l can do SO consistently
with what believe 10 be The interests Of !
the State at large, but not otherwise. l do !
not regard this as such a proposition.
Again, it is argued that We receive the /
notes OF the Slate Bank and its branches in
payment OF The revenue, and that we make |
an unjust discrimination against The indie
pendent banks Of the State. | think the
discrimination is proper, and founded upon
sound reason and policy. What are the
facts? The State has direct and inmedi-
ste interest in the State bank. She occu-
pies the position Of a stakeholder. Ono
million dollars Of her money is in them, 10
say nothing Of seven hundred thousand dol
lars Of the School Fund. Being stockhold-
er, common sense requires that she should
maintain the credit OF this particular Insti.
tuition and its branches, not only in our own
State. but throughout the country. No such
weighty argument can be adduced in favor
Of wiping oul the distinction, and placing
the independent banks upon an equal footing
The simple fact that these banks are the off.
spring Of the Legislature, that va have
chartered them and given them vitality, is,
il seems to me, but sorry reason why we
should, by the passage Of thi, bill, become
their endorser. Such an argument, lsgiti.
ma,ely carried out, would have ridiculous
termination. II would force the State to
endorse the doings OF every corporation
created by her Legislature. No such re-
suits were ever contemplated.
lean perceive how we might be placed
in a very embarrassing position should this
bill be adoptsd-a position disastrous in
financial point Of view. Suppose when our
Treasury shall have been filled with the
money Of these independent Banks. there
happens q suspension or failure! The
money is at once worthless, and you are
to tax the people 10 make up the