Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-06-02
Financial Affairs,

o. o. houiS Ez.NoO dec 1910 dec 3S,4S9 dec
Southern 1910 dec 1878 dec 1'i52 der
Mechanics =. 2O,2O4 inc 10 500 der ali NC nc
Exchange. %. "a, 1925 inc $3.50 dec 1880 dsc
state Bank. 2,I3Sinc $500 dec 66.s59 der
Union Bank. p 600 inc 2,I4O inc 33.7l6 der
The aggregates are as follows:
May %. MAY d. Dec.
Excn'ge mat'g. S3.6l5, 1877 S369I .95s s ID. 76l
Circulation 1,27l,6n5 l333.725 20 120
Com on hand... l,373,l9i 1,5i2.6l6 1863 422
The Snb-Treasury shows the following exhibit
for the same week:
Receipts for week ending MAY %. s5S7 g53 n
Disbursements same time. :. $500. Pr g22 40
Balance May 49,. 81, 1877 1893 %
The following sales of Bank stock took Mace
at the st. LOUIS Merchants Exchange, On Mon
day.
BY J. H. O'Bear-
shares Exchange Bank. ........ sIo2 90
70 - Merchants Bank. ...... lO6 90
~ Bank of ST, Louis ...... ...... 100 90
% Gas Light Company 6S 30
By H. W. Letiingwell * Co.
20 shares Exchange Bank. ...... ....s 102 90
s. Bank of St. Louis. 80. 100 90
lUl 90
We remarke. two weeks since, tlat there was
evidently financial war brewing. We were not
mistaken, and our ST. Louis contemporaries are
now fairly at 1.-THE Republican on the one side.
and the Democrat and Ne,cs on the other.
A short time since the Boatmen's Savings Insti-
tuition presented $50 COO IN notes at the counter of
the Palmyra Branch of the State Bank. for which
The gold was demanded, or Eastern Exchange, at
par. The Bank declined 10 furnish the EXCHANGE.
but offered TO redeem in gold and silyer-that is.
for every bill presented, she would pay five dol
lars in silver, and the balance in gold. Silver be-
ing below par in New York. and not convertible
into Exchange at home-the offer was declined
the question was referred 10 the Bank Commits
sioner, who turned il over 10 the Attorney Gener-
al, for his opinion, which has not yet been made
public.
Subsequently,, the Republican came out in an
article under The head of 'EFiibusterlng against
the Banks,' with frequent reference TO the $40
rays" of the broGers against the country Banks,
which il assumed was arraying the country against
the city, and preventing country merchants from
paying their indeb tedness to the city merchants.
This article called forth 4 response from the
Cashier OF The Boatmens Savings Institution, and
articles in the Democrat and Ners, in which the
question is freely discussed of the right of parties
holding Banks promises 10 pay, to present the
same for payment, and the duty of the Banks 10
promptly meet their demand. We may publish
some of these articles hereafter
| II is perhaps as'wei 10 settle the question now,
as any time. The State of Missouri is pretty well
Banked now, and there are score yet to be put
IN operation. If all these Banks are 10 be permit
ted TO flood the country with their promises TO
pay, and when called upon, resort TO bubbles, and
invoke mob law. it is time the people Of the coun-
try and city were advised of the fact a Bank
note that is not convertible into gold at the will
of the holder, is cheat and fraud: the Bank that
refuses 10 redeem, with promptness, is a swind-
ling concern, and should be promptly wound up;
and if not legally closed, will soon be pushed to
the wall by the refusal of the people to take IFS
notes, vet not without loss 10 many. The new
Banks, so far, have been prompt to meet all de-
mands against them, and il is left for the old
Bank, which is the strongest, and in which the
State IS largely interested as stakeholder, 10 shuf
fe and bubble. The Fund Commissioners would
the more liberal proposition of the State Saving
and Boatmen's Associations. MoIe of her Branch
paper than that of any other Bank, or perhaps all
of them. flowed in the channels of trade in ST.
Louis, and one Of these Associations having use
for Gold TO make Eastern Exchange, sent the
Branch notes ont for redemption. THIS all looks
natural enough, but the Bank being in bad ku-
NOR because it could not shave The State, under
takes 10 annoy more liberal party, and if posi-
bic prevent Its fullng IFS contract, IN which the
honor of the State is at st he. But independent
Of all this, and all other side questions the rule of
prompt redemption must and will be established
Its new feature in finance and commerce, that
the presentation of legal demand for payment
subjects The holder of the demand 10 the charge of
''flibustering." Suppose the country merchants,
who buy on a credit in ST. Louis, should raise n
hue and cry against the collectors, who twice a
year traverse the State and in every city town and
village, present notes for payment; call the city
merchants rascals, iEbusters, and attempt 10 i'll
tinldate the collectors? They would justly be
denounced as swIndlers. Are Banks any better
than individuals? For the two weeks ending last
Saturday over nine millions in metal has been ship
ped to Europe, The United States is indebted to
Europe, because we import more than we export,
hence gold is required 10 produce an equilibrium,
or adjust the balance against US. The West buys
more In the East than she produces, with which
TO pay-bence gold has 10 20 forward 10 pay the
balance. This IS all very natural, and the way TO
remedy il is, 10 produce more and buy less. When
we do this, gold will flow west 10 pay for our
produce.
The gross receipts on the Hannibal and St. Jo-
seph Rail Road, from the opening through, on the
22d February, to the 18th May past, amounted to
sf55,248 10.
- We return our thanks TO Mrs. Col. z. C..
HUGHES, fer bucket of Strawberries. We do