Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1860-03-15


interest and exchange and in lien thereof.
elbow the banks to charge eisai-or il thought
best nine-Psr cent. per annuEl, ard no
more upon cit her bills or ns.ss discounted,
except in cases, where bills may ba bought
payable at peint Oh which exchange EaJ
be at a discount. IN susi eases allow IL
addition TO interest Tie regular rais oi dis.
count ruling at tie lime Q: discOuniinE the
bill. -
4. Permit no savings institution, or saw
inss association, TO receive on deposit. or in
lie payment of 3abIs, or to pay out, any
bank Deie they will nct receive as the e.
qriyalenl o. gold and silver, and enter it
upon their boaks accordingly.
5. Prohibit every broker and exchange
dealer, under The severest penalties, from
paying cut any bank note they will not re-
ceive on deposit er in the Payment Of debts
as the equivalent Of geld and silver.
6. Require sli Tie parties above named
TO keep their accounts under the simple
head Of cash. ...s
/ 7. Make every check drawn upon them
payable in cash only, giving the holder ths
right 10 demand gale or silver II be wishes
/ It. ..
! Under a well-dfawn law, securing tho
main points in the farsgcing suggestions, il
the banks, saving institutions, brokers, merz
chants, mechanics AID manufacturers, and
ell others actively engaged n business,
wouid csne up earnestly 10 the work, and
lend a helping hand in tie cause, should
entertain not doubt in regard to Tie highly
beneficial effects Of such a measure. The
city Of 81. Louis has become the great CON-
mercial emporium and money centre of the
West, and think the time is at hand when
its citizens should begin 10 see and feel The
absolute necessity of transacting all their
business upon a specie basis. That their
own true interest, and their prosperity and
growth in wealth, would be greatly promo
ted by such line of policy, / think is be-;
yOnd question. l am persuaded in my own
mind, that the people Of the State would
hail with Joy and acclamation a system at
oncs so safe TO all the great interests Of The
country, and woaid jsIn heart AID hand in
giving force and effect to measure W hieiL
il is believed would advances the interests o!
ali concerned. -
can see no good reason why thers
should be any antagonism Of interest be-
tween our neneyed institutions. Few Of
US will I've to see tie day when there will
not be brisk demand fsr al the good mon
e. tley may have 10 loan al far rates Of
interest. Place them ell upon one solid
piatlolm-brins .hen TO q common level,
and make it the Interest Of all, if possible,
to keep Missouri bank paper Up to the stan;
dard Of gold, aud we SHALL then hear nc
more Ct ''runs" and ''lorays." The pre-
sent "baBkable lund" system has been in.
operation about eighteen moaths-quite
long enough, think, TO satisfy every ohs
that it vii! moi do. In giving it up-whieE
must be done sooner or later-apd substity
uatipg another in its place, great care should
he taken that no injury be done TO ,he gen.
eral interest b too sudden change.
TIE remedies hara suggested may nos
be the best 10 cure the existing evils. If
others shal! be able 10 propose anything bet
ter, say, with all my heart let it be a
dopted. think something should be dene
and the earlier tie better. The foregoing.
viGws have been presented from a sense OF
public duly, and The solemn conviction that
our present s'bankab!s funds'' system Of
banking has proved most signal failure.
! Al Of which is respectfully submitted.
CT. JAcEsoS, Bank Commissioner.