Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-06-09
For the RepnblIcan.
Brokers?

The Boatman's Savings Institution deems
it proper 10 make an official reply to an ed
itorial article which appeared yesterday in
the Republican of this city, which is calcu-
lated TO prejudice the Institution in the
minds Of the mercantile community. In
your respectable Journal, enjoying wide
spread influence, the Boatman's Saving In
stitution, governed by its managers, is
charged, in leading editorial article, with
miiiing ''lOrays' on the institutions in cues
ton.
According to the definition given by the
great American photographer, fIibustering
is described 10 be "piristical advenuring,
or buccancering," and iorays according
to the same authority,s is described as being
a "pillaging excursion"
Whether the dispatching of messe nger,
on the part Of q creditor 10 debtor, 10 ask
him in courteous language 10 "pay me what
thou owest," is either "flibusterIng" or
committing ''foray," the Directors con-
trolling the BOatman's Saving Institution
leave the public to judge.
But, adds the editor making these broad
charges, this ''foray''-collecting just dues
has "interfered with the payment by
country merchants Of their Indebtedness TO
ST. Louis" and. by this latter assertion,
prejudice is invoked on the part of the mer-
chants Of ST. Louis against the Institution,
by appealing 10 their cupidity, or rather,
TO their interest.
These charges and inuendoes have grown
out of the fact, that the Boaiman's Saring
Institution has simply demanded of debtor
country Branch Bank 10 pay up portion
Of its circulation, and thus enable the Boat
mans Saving Institution TO supply Its quota
Of Eastern exchange 10 the merchants of St.
Louis, for the purpose of liquidaiing their
Eastern Indebtedness.
1t is well known, that for the past month,
Eastern exchange has been in great demand
at high rate OF premium-caused by the
State of Missouri and other Western States
being short of produce TO pay their eastern
Indebtedness, and it follows, as conse-
quence, if there is not sufficient produce 10
liquidale thes balances, then coin must be
sent forward 10 meet them, and the Boat
mans Saving Institution, in such an eher-
gency, must ask the Banks and their branch
es, who put forth promises TO pay in coin
on their face. 10 comply with their engage
ments. The Boaiman's Saving Institution,
holding 1886 900 Of such paper, and being
in want OF coin, made the demand for its re-
demption, and being its only offence, it is
charged with "fiIbustering' and commit
ting ''forays" on peaeeable citizsns-to-wit:
cashiers Of Banksl a.- ...
With the same prOpriety might the lead
ing journals Of New York, at the present
moment, charge the importing merchants
and bankers Of that city with "filibustering
and committing fofays" on the Banks, be-
cause they are drawing coin from those in
stitutions at the rate of seven millions per
week, to liquidate foreign Indebtedness, and
create exchange, in the absence Of sufficient
produce leaving the country to adjust bal
ances But no! Not murmur is heard at
the course these importers and bankers are
pursuing, for the simple reason that il is
looked upon as legitimate business, to
draw coin from the Banks and shipit when
wanted.
The "poiiey" of this 'fOrsy," as it i,
termed, is also called IN question, and it is
generally hin,ed that this policy ought to be
changed. The Directors Of the Boa,man's 5
Saving Institution = it should be here under.