, 1860-04-02

Some one--probab'y m Illinois Banker,
largely interested in Missouri stocks-savagc-
'ly attacks tho rnEss AND TR1nrSE in tho col
1nnns Of the St. Louis Republican. We print
Ills dia,r;bo in another part Of this paper, for
the delectat:ou Of such cf our readers as desire
n specimen Of rigorous and hearty abuse.
As near :ss VIC can get at it, Missouri owes
about 1wenty-four millions Of dollars in addi-
ton to the enormous debt Of her corporate
towns, ST. Louis, with liability Of near SIX
millions, heading the list We contend, hence
our offence, that she has not the means Of pay
mont She has for resources ],sr ordinary
and extraordinary taxation, and the railroads
upon which her twenty millions have been
squnndcret}. Qftaxation to the extent ncces-
sary to carry on the ordinary operations Of 1lee
State government and 10 my the current in.
tcEcst on her liabilities she is incapable, Sim
ply because she has not tho wealth to bear the
load. Her railroads, as All Investment, are
worthless. We doubt If one Of them Inns the
ahiiity to pay out Of It's earnings the interest
on the Stale aid and construction bonds By
which it was built. Il is notorious that up to
this lime, the interest has been met by tho sale
Of new bends i-sued by tic State; and it is
: arprellonded with good reason that, further
State aid being forbidden, interest paying will
cease. That is the condition Of Our ncighbor-
Ing State, rs we understand IT, II we arc in
error, our error is shared by perhaps major
ity, Certainly by large minority, Of the mem~
hers Of her Legislature. whose business it is
TO make Missouri finances their study.
Now, Illinois aud Wisconsin hold as sec,lri-
ty for tho Issues Of the Banks Of the two States,
more than TWENTY-FIVE per cent Of tho whole
debt Of Missouri 1n Illinois, more than one
third Of the currency in circulation is bottomed
on Missouri promises-to-pay. It is but natural,
that We, having personal as well as public
interest in tho crash which NO sec coming,
should wnrn or bankers 10 make suelL chang
CD in their securities that they may not he
swampcd, and with then tho business Of two
Starrs, when tlnt crash comes. We care not
a PIN for st. Louis, only that she may prosper;
nor p tis for Missouri only TINT she mag vote
for tho Republican nominee, and let Kansas
alone. TAero is room enough, in this great
West for Chicago and st. Louis both; and cm-
igration enough for Illinois and Missouri. Our
care then, is not TO injure that thriving city at
the South Of US, nor to lay an obstruction in
the way Of the onward progress Of that neigh.
boring State. TIE are trying to look out for
No. ! and The good patrons to whose pence We
Gre indebted for our daily bread and butler.
If in doing 50, we tell truths that are unplcas-
ant to Illinois bankers, or to St. Louis ncws-
papers, We can't help it. Our first duty is to
Illinois, and that VIC shall cndeavor to dis
Charge.
The anonymous correspondent Of the Re
publican points to Illinois rs af1ording in her
history tho facts which ought to quiet all alarm.
lie is unfortunate. The rc-cnactmcnt Of the
financial experiences Of Illinois, in Missouri, is
that thing which VIC most fear, and which ne
labor To prevent Our State once went mad
just as Missouri has gone. Who does not know
the rcsultY State bonds down to 85 ner rent
below par; years Of practical but unayoidb1c
rcpudiation; the. ruin by insolvency, Of full
thrce-foirths of our business men; i.n,nensc
depreciation in tho prices Of real property
utter lack Of money in the public treasury the
Governor being 70 POOR that he could not take
Lis official letters out Of the post office, want
ing the wherewith 10 pay postage; tho breaking
Of every bank in the State; tho suspension 0